Addressing AIMA National Management Convention, Das underlined the need for increased investment in healthcare education, digital and physical infrastructure to ensure sustainable growth and generate employment opportunities.
As per the data released by the National Statistical Office (NSO), inflation in the food basket was 3.11 per cent in August compared to 3.96 per cent in the preceding month.
The Co-operative Bank has been under restrictions since June 10, 2020, through the directives issued under Section 35A of the Banking Regulation Act, 1949 (AACS).
The RBI had decided to use the 2 percentage point cushion to keep the inflation within the 2-6 percent target band as a result of the pandemic to push growth, Das said, adding that the Monetary Policy Committee (MPC) will take a call on continuing with the accommodative stance.
UCO Bank PCA Exit, UCO Bank PCA RBI: UCO Bank share price is Rs 12.80 on the NSE and Rs 12.81 on the BSE.
The RBI on Tuesday extended the device-based tokenisation to card-on-file tokenisation (CoFT) services, a move that will bar the merchants from storing actual card data.
The penalty has been imposed for non-compliance with directions contained in the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 and specific directions under the Supervisory Action Framework (SAF).
The Reserve Bank of India (RBI) on Wednesday imposed a monetary penalty of Rs 25 lakhs on Axis Bank Limited.
RBI Governor Shaktikanta Das on Tuesday said that the there are "signs of recovery" as far as the global economy is concerned but "we are not yet out of the woods". Das made the remarks at the 21st FIMMDA-PDAI annual conference.
In both cases, the RBI said, the penalty is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers.
RBI's revised guidelines mean that every time customers buy online or renew subscriptions, the details will have to be typed afresh.
If the Reserve Bank of India (RBI) revises the guidelines from January 2022, then the customers with debit cards and credit cards will need to punch in their 16-digit card number every time they proceed to make a transaction.
The Reserve Bank of India had issued orders in December and February to HDFC Bank on certain incidents of outages in the internet banking /mobile banking/payment utilities of the bank over the past two years.
With the lifting of the nine-month-long ban on HDFC Bank with respect to selling new credit cards, its shares climbed 1.61 per cent to Rs 1,539.10 apiece after opening at Rs 1,550.
Banks will have to submit a system generated statement on downtime of ATMs due to non-replenishment of cash to the RBI.
The Reserve Bank of India (RBI) on Tuesday said it has decided to penalise banks for failure to timely replenish currency notes in ATMs. The move comes amid worries of frequent non-availability of cash in ATMs.
The penalty has been imposed for non-compliance with directions issued by RBI on 'Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks' and 'Membership of Credit Information Companies (CICs)'.
The Reserve Bank of India's new rules on raising interchange fee and making available the facility of bulk clearing round the block have become functional from Sunday onwards.
Amid fears of a third wave of coronavirus pandemic and hardening of retail inflation, the Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy.
In April, RBI had said that it would encourage participation of non-banks in Reserve Bank of India-operated Centralised Payment Systems (CPS) -- RTGS and NEFT systems -- in a phased manner.
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