Reserve Bank of India (RBI) on Thursday asked banks to closely monitor their bad loans and prepare themselves for higher provisioning in the wake of second COVID wave and the Supreme Court order lifting the ban on classification of non-performing assets.
RBI said Covid-19 pandemic has triggered revision of growth projections for the current financial year with consensus gravitating towards its earlier forecast of 10.5 per cent
The Reserve Bank on Monday came out with modified guidelines that allow sound private sector banks to undertake government business, whether at the Centre or in states.
The Reserve Bank of India has appointed Jose J Kattoor as Executive Director (ED), the central bank said in a statement on Monday.
Equity benchmark indices were range-bound on May 10 but closed in the green on the back of RBI's liquidity measures and indications of robust corporate earnings. At the closing bell, the BSE SandP Sensex was up by 296 points or 0.6 per cent at 49,502 while the Nifty 50 ticked higher by 119 points or 0.8 per cent to 14,942.
The moratorium of up to two years will be available to individuals and small and medium enterprises that did not restructure their loans in 2020 and were classified as standard accounts till March 2021, RBI Governor Shaktikanta Das in an unscheduled address.
The RBI has also decided to extend the scope of video KYC (know-your-customer) or V-CIP (video-based customer identification process) for new categories of customers such as proprietorship firms, authorised signatories and beneficial owners of legal entities.
RBI will do second purchase of government securities (G-secs) aggregating Rs 35,000 cr in two weeks.
The penalty has been imposed for non-compliance with certain provisions, including Know Your Customer (KYC) directions.
A penalty of Rs 3 crore has been imposed on ICICI Bank Ltd for contravention of certain directions, the Reserve Bank of India said on Monday.
T Rabi Sankar on Monday took over as the new deputy governor of the Reserve Bank of India for a period of three years, the central bank said in a statement.
The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges.
The penalty has been imposed for non-compliance with regulatory directions issued by NABARD contained in 'Review of Frauds - Guidelines on Monitoring and Reporting System', the Reserve Bank of India said on Tuesday.
The Reserve Bank of India on Tuesday issued guidelines for the appointment of statutory auditors of banks and non-banking finance companies (NBFCs), including housing finance companies.
In a major reform step, the Reserve Bank of India (RBI) has capped the tenure of bank MD and CEOs with immediate effect.
Among other things, the respondents will be asked whether the merger was positive from the point of customer services.
The Reserve Bank of India (RBI) restricted American Express Banking Corp and Diners Club from on-boarding new customers from May 1, PTI reported.
The RBI on Friday said the existing interim Ways and Means Advances (WMA) limit of Rs 51,560 crore for all states and Union Territories will continue up to September 30, 2021, as the effect of the COVID-19 pandemic is still prevalent.
Former Reserve Bank of India governor M Narasimham passed away on Tuesday after battling Covid-19. He was 94.
Under RTGS, there is the continuous and real-time settlement of fund-transfers individually on a transaction-by-transaction basis without netting. It is a safe and secure system for funds transfer without any upper or maximum ceiling and is available on all days on 24x7x365 basis.
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