Loan transfers are resorted to by lending institutions for various reasons, ranging from liquidity management, rebalancing their exposures or strategic sales.
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.
Notably, there are 13 bank holidays listed but as Ganesh Chaturthi overlaps with second Saturday, it is counted as one holiday. Also, 11 September’s leave overlaps with the second Saturday.
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.
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.
Banks will have to submit a system generated statement on downtime of ATMs due to non-replenishment of cash to the RBI.
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.
Deputy Governor T Rabi Sankar said developing a domestic CBDC could provide the public with uses that any private virtual currency (VC) offers and to that extent might retain public preference for the rupee.
The Reserve Bank of India (RBI) has recently raised the interchange fee and allowed banks - private and public, to hike charges on withdrawing cash from ATMs as well as charges for debit/credit cards.
Citing the violation of norms on storage of payment systems data, the Reserve Bank of India has prohibited Mastercard from issuing debit cards, credit cards and even prepaid cards to new customers, starting from July 22.
The Reserve Bank has issued a scheme 'RBI Retail Direct', a one-stop solution to facilitate investment in government securities by individual investors.
Earlier on July 2, the Ministry of MSME had decided to include retail and wholesale trade under MSMEs for the limited purpose of priority sector lending.
The RBI has barred MPs, MLAs and members of municipal corporations or other local bodies from holding the office of MD or whole-time director in urban cooperative banks.
The pan-India campaign to educate the general public about the essential rules and regulations will be launched in Hindi, Assamese, Bangla, Gujarati, Kannada, Malayalam, Marathi, Oriya, Punjabi, Sindhi, Tamil, Telugu and Urdu besides English.
The RBI said the penalties have been imposed based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered by the two lenders with their customers.
The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group's bid to take over it towards the end of the resolution process.
SBI Ecowrap report has suggested that the space for monetary accommodation is over, and the Reserve Bank of India (RBI) will face multiple challenges in terms of boosting India's growth rate.
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