Mon, Jan 15, 2024
The draft circular said, "It has been decided that henceforth, with effect from the date of this circular, the public deposits accepted or renewed by HFCs shall be repayable after a period of 12 months or more but not later than 60 months. Existing deposits with maturities above sixty months shall be repaid as per their existing repayment profile."
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FinTechs are significantly reshaping the landscape of financial services by streamlining processes, improving accessibility, and reducing costs, the central bank said, while issuing a draft framework for recognising Self-Regulatory Organisations for FinTech Sector (SRO-FT).
Thu, Jan 04, 2024
The regulator in separate statements on Thursday said in an order dated December 13, 2023, it imposed a Rs 5 lakh penalty on the Vadodara-based Shree Bharat Co-operative Bank for non-compliance with its directions on the placement of deposits with other banks by urban primary cooperative banks and flouting its norms on interest rate on deposits directions of 2016.
Fri, Oct 22, 2021
RBI Deputy Governor M Rajeshwar Rao has urged shadow banking players to give utmost importance to protection of customers as it is "non-negotiable".
Mon, Oct 11, 2021
Every bank account holder must have used ATM in order to withdraw cash. However, there are instances when your account gets debited but you do not get the amount from the machine. Here is what you need to do in such situation.
Fri, Oct 08, 2021
The Nifty50 closed just a shade below 17900 levels while the S&P BSE Sensex rallied nearly 400 points.
The Reserve Bank of India (RBI) on Friday made the policy announcements of the Monetary Policy Committee (MPC) meeting that started on October 6, 2021, and continued till today, October 8, 2021. Check the announcements made here:
The Indian markets on Friday cheered trading near the day’s high level, minutes after the Reserve Bank of India’s Monetary Policy Committee decision were out. RBI Governor Shaktikanta Das in his commentary made a slew of positive announcements for the earliest economic recovery.
The Governor of the Reserve Bank of India, Shaktikanta Das announced a fourth cohort on ‘Prevention and Mitigation of financial frauds’, with a view to provide further impetus to the fintech eco-system.
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has maintained its status quo on rates in its bi-monthly Monetary Policy meeting on October 8.
In view of the importance of the IMPS system in processing of domestic payment transactions, it is proposed to increase the per-transaction limit from Rs 2 lakh to Rs 5 lakh for channels other than SMS and IVRS, RBI said in a statement.
RBI MPC decision: Reserve Bank of India Governor Shaktikanta Das will announce the decision of the six-member Monetary Policy Committee (MPC) on Friday
Mon, Oct 04, 2021
The Reserve Bank of India (RBI) has superseded the board of directors of Srei Infrastructure Finance Ltd and Srei Equipment Finance Limited and has appointed an administrators.
Thu, Sep 23, 2021
The share of CASA deposits increased to 43.7 per cent in March 2021 compared to 41.7 per cent a year ago, according to the Reserve Bank of India (RBI's) Deposits with Scheduled Commercial Banks - March 2021 data released on Thursday.
Mon, Sep 20, 2021
The Reserve Bank of India (RBI) has mandated banks to exchange damaged, soiled or mutilated currency notes.
Wed, Sep 15, 2021
Tokenisation has been allowed through mobile phones and / or tablets for all use cases / channels (e.g., contactless card transactions, payments through QR codes, apps etc.)
Thu, Sep 09, 2021
As per the information provided by the Reserve Bank of India in case of a failed ATM transaction when your account is debited, the bank is supposed to reverse such transactions on its own.
A day after the Reserve Bank of India lifted UCO Bank from PCA (Prompt Corrective Action) norms, the shares of this PSU (public sector unit) bank has spurted almost 16 per cent to Rs 14.85 per share on the BSE intraday trade during Thursday’s session.
Wed, Sep 08, 2021
A message in the name of the Reserve Bank of India is being circulated and claims that a person can earn Rs 4.62 crore by paying only Rs 12,500 in less than 30 minutes. However, it is important to note that this information is fake.
Wed, Sep 01, 2021
The Indian currency that is Rupee is available in two forms bank notes and coins. Some of the security features in banknotes, according to the Reserve Bank of India (RBI) include security thread, intaglio printing, see through register, among others.
Mon, Aug 30, 2021
The Sovereign Gold Bond Scheme- Series VI is open for subscription and will be available till September 3, 2021. Investors can buy it online at a discount of Rs 50.
Wed, Aug 25, 2021
Like every other organisation, banks in India also remain closed on certain days of every month either due to some events or weekend offs. The holiday list which is being followed by the banks in the country is issued by the Reserve Bank of India (RBI).
Tue, Aug 24, 2021
In order to protect people from online banking frauds now there will be a token number associated with their debit and credit card. There will be a separate token number for every merchant.
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