Reserve Bank of India
PMC Bank branches to operate as Unity SFB; government gives nod for amalgamation
Wed, Jan 26, 2022
The union government on Tuesday had notified the scheme of amalgamation of the PMC Bank and the Unity SFB with effect from January 25, the bank's depositors can now withdraw their money in a phased manner or continue to have their accounts with the new entity.
More >
RBI imposes penalties on 8 cooperative banks for deficiencies in their regulatory compliances
Mon, Jan 24, 2022
A penalty of Rs 4 lakh has been imposed on The Associate Co-operative Bank Ltd, Surat (Gujarat) for contravention of directions on 'Loans and advances to directors, relatives and firms/concerns in which they are interested', and non-compliance with the Master Directions on KYC
More >
Dalal Street Voice: We expect Rs 1.5-2 lakh cr. more worth of IPOs pipeline in 2022: Rajesh Cheruvu of Validus Wealth
Mon, Jan 17, 2022
In an interview with Zeebiz's Kshitij Anand, Cheruvu believes that in CY22 big companies like LIC, GoAir etc. are on the cards. Overall ~Rs. 1.5-2Lakh cr. more worth of IPOs are in the pipeline expected for 2022.
More >
Issues related to cards, net banking, fair practices top complaint grounds at banking ombudsman: RBI
Wed, Jan 12, 2022
RBI has released the Annual Report of the Ombudsman Schemes for the year 2020-21, which has been prepared for the nine-month period from July 1, 2020, to March 31, 2021, in alignment with the change in the financial year of the RBI from 'July-June' to 'April-March' with effect from July 1, 2020
More >
Covid 19 - Finance Minister Nirmala Sitharaman reviews readiness of state-run banks to tackle any Omicron-induced disruption
Fri, Jan 07, 2022
Finance Minister Nirmala Sitharaman has convened a meeting with the heads of public sector banks on Friday to review their preparations to deal with any potential disruptions caused by the Omicron variant, as per the PTI report.
More >
RBI issues eligibility norms for entities harnessing credit bureau data - Check the guidelines
Thu, Jan 06, 2022
These newly-formed guidelines said that a company's net worth must be at least Rs 2 crore and owned and controlled by resident Indian citizens to become a designated user with a credit bureau, which comes amid accusations of lending applications with Chinese ties functioning in India.
More >
Dalal Street Voice: Markets can potentially give double-digit returns in 2022: Yesha Shah of Samco Securities
Tue, Jan 04, 2022
Though markets can potentially give double-digit returns in 2022, it is unwise to expect that the markets will run up as swiftly, Yesha Shah said in an interview with Zeebiz’s Kshitij Anand.
More >
RBI allows offline digital payments: Framework issued - no internet or telecom connectivity required
Mon, Jan 03, 2022
To push digital transactions in rural and semi-urban areas, the Reserve Bank of India (RBI) on Monday issued a framework allowing offline payments up to Rs 200 per transaction, subject to an overall limit of Rs 2,000.
More >
India's financial system well-cushioned amidst pandemic: RBI Financial Stability Report
Wed, Dec 29, 2021
Financial institutions in India have remained resilient amidst the pandemic and stability prevails in the financial markets, cushioned by policy and regulatory support, according a central bank financial stability report.
More >
Aapki Khabar Aapka Fayda: RBI to launch digital payment systems for feature phones
Thu, Dec 09, 2021
RBI Governor Shaktikanta Das had announced that it will launch digital payment systems for feature phones. This means that the central bank will allow Unified Payments Interface-based (UPI) products to be available on feature phones, and make an internet-free UPI payments system possible in the upcoming days. The Reserve Bank of India is also set to form a panel to study the charges on digital payments.
More >
RBI's status quo on interest rates to support your dream of buying a new car or a home - know how?
Wed, Dec 08, 2021
India's Central Bank left policy rates unchanged on Wednesday as the Reserve Bank of India (RBI) Governor Shaktikanta Das announced the Monetary Policy Committe (MPC) decisions today. How does that impact your dream of buying a new car or a dream home?
More >
Expect reverse repo rate hike in February 2022 MPC, see calibrated policy normalisation unless Omicron plays spoilsport: Analysts
Wed, Dec 08, 2021
Even as the Reserve Bank of India (RBI) kept key policy rates unchanged on Wednesday, analyst see the Central Bank hiking the reverse repo rate from February 2022. The hike is seen at 20-25 bps. The reverse repo rate – rate at which RBI borrows money from commercial banks – stands at 3.35 per cent
More >
Reverse repo status quo needed to give more time for economic recovery to strengthen: Report
Sun, Dec 05, 2021
Amid the rising scare from the new coronavirus variant Omicron and ahead of the MPC meet, SBI house economists have urged the central bank to delay liquidity normalisation measures through a reverse repo hike, as such a "prudent step" in the current situation will give more time for economic recovery to strengthen further.
More >
