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.
Mon, Jun 13, 2022
RBI's Regulations Review Authority has suggested all regulations of the central bank should underline the rationale and be reviewed periodically to align them with evolving industry practices and financial landscape.
Fri, Jun 10, 2022
After the increase in the repo rate by the Reserve Bank of India, other banks have also started increasing their interest rate.
Wed, Jun 08, 2022
What is special in credit policy? Senior Economist Brinda Jagirdar spoke to Zee Business Managing Director Anil Singhvi and expressed her views.
Governor Shaktikanta Das said the central bank will ensure the availability of adequate liquidity to meet the production requirements of the economy.
Mon, Jun 06, 2022
The automobile dealers' body FADA said on Monday that retail sales of passenger vehicles grew last month but the sales of two-wheeler and commercial vehicles remained low compared to the pre-COVID month of May 2019.
Sun, Jun 05, 2022
The Reserve Bank of India (RBI) is likely to increase the benchmark lending rate in quick succession in its forthcoming monetary policy review on Wednesday as inflation shows no signs of abatement.
Wed, Jun 01, 2022
The rupee recovered from its record low to close 21 paise higher at 77.50 against the American currency on Wednesday.
Mon, May 23, 2022
"There is no one to one co-relation between the increase in government expenditure... and the need for additional borrowing. These are all figures which keep moving throughout the year," Das said.
Fri, May 20, 2022
The government is expected to get a dividend of Rs 60,000 crore, as per Zee Business Brajesh Kumar's report.
Thu, May 19, 2022
The Reserve Bank on Thursday issued a rule for withdrawing money from any ATM without a card.
Tue, May 17, 2022
The Reserve Bank of India sold a net $20.1 billion in the spot foreign exchange market in the month of March to support the rupee against the U.S. dollar, its monthly bulletin showed on Tuesday.
The Reserve Bank has rejected applications of Flipkart co-founder Sachin Bansal-backed company Chaitanya India Fin Credit Private Limited, and five others for setting up banks as these were "not found" suitable, an official statement said on Tuesday.
Thu, May 12, 2022
Atul Kumar Goel, the CEO of Punjab National Bank (PNB), announced on Thursday that the bank will boost repo-linked lending rates from next month.
Mon, May 09, 2022
RBI on Monday announced that it has imposed a penalty on Abhyudaya Sahakari Bank Ltd, Mumbai for non-compliance with several directions, including on NPA-related norms.
Sun, May 08, 2022
The bank's move comes after a number of banks raised their external benchmark based lending rates following an increase of 0.40 per cent in the repo rate -- at which the Reserve Bank lends short term money to banks.
Thu, May 05, 2022
Zee Business Managing Editor said that the LIC IPO is not meant for people who are looking for immediate gains. He said that Wednesday's event was not foreseen. He said that LIC IPO is not for those people who have formed their opinion on it on a day's fall with just a 1-2 day perspective.
Mon, May 02, 2022
"Regulations Review Authority (RRA 2.0) has recommended withdrawal of additional 225 circulars in the third tranche of recommendations," the central bank said in a statement.
Tue, Apr 26, 2022
The Reserve Bank of India will raise its repo rate in June and hike at a faster pace than predicted just a few weeks ago as a surge in inflation puts pressure on the central bank to act quicker, a Reuters poll showed.
Fri, Apr 22, 2022
Following is the list of bank holidays for the month of May 2022, as per the RBI calendar.
The Reserve Bank of India has issued new master directions for issuing new credit and debit cards to banks and non-banking companies.
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