The RBI said that the recent spurt and popularity of online lending platforms/mobile lending apps has raised certain serious concerns which have wider systemic implications.
The Reserve Bank of India (RBI) is unlikely to further ease the interest rates in the next meeting of its Monetary Policy Committee even though retail inflation declined in December 2020, a report by Motilal Oswal Institutional Equities said.
The Reserve Bank on Tuesday imposed a penalty of Rs 2 crore on Deutsche Bank AG for non-compliance with certain provisions of directions concerning interest rate on deposits.
The RBI on Monday said it has cancelled the licence of Vasantdada Nagari Sahakari Bank, Osmanabad, Maharashtra as the bank would be unable to pay its present depositors in full in its current financial position.
There is a disconnect between booming markets and economic activity, Reserve Bank Governor Shaktikanta Das said on Monday, warning that the stretched valuations of financial assets pose a risk to financial stability.
In February last year, RBI had announced a revised Liquidity Management Framework (LMF) that was simplified and "clearly communicated" the objectives and toolkit for liquidity management.
The Reserve Bank of India (RBI) on Thursday announced it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for Rs 10,000 crore each on January 14.
The central bank is likely to pare the pandemic-driven emergency response as well, the report by Singaporean lender DBS said.
The RBI on Monday said it has imposed a total penalty of Rs 7 lakh on two co-operative banks, including Rs 5 lakh on Vyavasayik Sahakari Bank Maryadit, for violation of KYC and other norms.
Amid rising consumer complaints regarding delay in reverse or refund of money deducted on account of failed or cancelled banking transactions, newly set up consumer protection regulator CCPA has flagged this issue to the RBI seeking its intervention to ensure banks reverse such money on time.
Under the current dispensation, the RBI has been mandated by the government to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side.
Impacted by the coronavirus pandemic, the Indian economy dipped by a historic 23.9 per cent in the first quarter of the current financial year. The contraction narrowed down to 7.5 per cent in the second quarter.
The bank had breached the minimum net worth requirement for two quarters in the financial year 2019-20, the RBI said in a statement.
The monthly bulletin of the central bank for December said the more evidence has emerged since the last bulletin which shows that the Indian economy is coming out of the Covid-induced slowdown.
Retail inflation has peaked in the country but is unlikely to come down enough for the Reserve Bank to make rate cuts in the whole of 2021, Japanese brokerage Nomura said on Friday.
A notice was issued to the bank asking why penalty should not be imposed for non-compliance with the directions issued by RBI.
With a view to effectively deal with increasing circulation of banknotes, the Reserve Bank of India (RBI) has decided to set up an Automated Banknote Processing Centre (ABPC) in Jaipur for receipt, storage and dispatch of currency notes.
RBI governor Shaktikanta Das had earlier announced that ‘positive pay system’ for cheque will be introduced soon, under which re-confirmation of key details will be needed for payments beyond ₹50,000.
RTGS, which started on March 26, 2004 with a soft launch involving four banks, presently handles 6.35 lakh transactions daily for a value of Rs 4.17 lakh crore across 237 participant banks.
With a view to ensure financial discipline and transparency, the Reserve Bank of India (RBI) on Tuesday proposed guidelines for non-banking financial companies (NBFCs) for declaring dividends.
Top News
Latest News
