New Delhi, July 29 The Reserve Bank of India (RBI) has decided to allow payment system providers, prepaid card issuers, card networks and white label ATM operators access to its Centralised Payment Systems (CPS), such as real time gross settlement
Mumbai, July 23 India’s foreign exchange reserves rose by $835 million during the week ended July 16. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $612.730 billion from $611.895 billion reported for the
Mumbai, July 19 Although transmission of deposit and lending rates has significantly improved in recent times, several factors continue to obstruct effective monetary transmission to these bank rates, the Reserve Bank of India (RBI) has said. The RBI Bulletin for
Mumbai, July 16 India’s foreign exchange reserves rose by $1.883 billion during the week ended July 9. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $611.895 billion from $610.012 billion reported for the
Mumbai, July 16 Although the Indian economy is poised to recover and witness positive growth in the current fiscal, the Reserve Bank of India (RBI) has said that there will be “substantial slack” in it. The RBI Bulletin for July
Mumbai, July 15 The Reserve Bank of India (RBI) has proposed changes in rules for fundraising by primary (urban) co-operative banks. On Wednesday, the central bank released a draft circular for issue and regulation of share capital and securities of
New Delhi, July 14 In a major blow to payment services major Mastercard Asia/Pacific Pte Ltd, the Reserve Bank of India (RBI) on Wednesday imposed restrictions on on-boarding of new domestic customers in the country on its card network. The
Mumbai, July 13 As interest rates continue at unprecedented low levels, the Reserve Bank India may start tightening the monetary policy and the gradual normalization of the policy is likely to start by the end of this financial year. Although
Mumbai, July 13 The Reserve Bank of India (RBI) on Monday issued the ‘RBI Retail Direct’ scheme to facilitate investment into government securities by individual investors. The scheme, to help retail investors or individuals open and maintain the ‘Retail Direct
Mumbai, July 10 India’s foreign exchange reserves rose by $1.013 billion during the week ended July 2. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $610.012 billion from $608.999 billion reported for the
New Delhi, July 10 The Reserve Bank of India (RBI) has directed banks to come up with board-approved policies to send employees posted in sensitive areas on a mandatory leave of at least 10 days during a year. The leave
Mumbai, July 9 The Reserve Bank of India (RBI) has issued an advisory asking banks to prepare for the transition out of London Interbank Offered Rate (LIBOR). In August last year, the RBI requested banks to frame a Board approved
New Delhi, July 8 Reserve Bank of India has imposed monetary penalties on 14 banks on account of non-compliance with certain provisions. These banks, including Bank of Baroda, were penalised for non-compliance with certain provisions of directions issued by the
New Delhi, July 5 The Reserve Bank of India (RBI) has amended the norms as per which unclaimed maturity proceeds of term deposits (TDs) with banks will attract the rate of interest as applicable to savings accounts or the contracted
New Delhi, July 2 The Reserve Bank of India (RBI) has highlighted the likely issues around big tech’s role in the financial services sector and said that concerns such as level playing field with banks and operational risks have intensified
New Delhi, June 26 In a crackdown on political interference, the Reserve Bank of India has barred MPs, MLAs and members of municipal corporations or other local bodies from holding the office of managing director (MD) or whole-time director (WTD)
Mumbai, June 26 The Reserve Bank of India (RBI) has extended the timeline for restrictions on Punjab and Maharashtra Cooperative (PMC) Bank till December 31, 2021 after taking into account the prospective time required for the restructuring process of the
Mumbai, June 24 To infuse greater transparency along with a uniform practice, the Reserve Bank of India on Thursday issued guidelines for NBFCs to declare dividends. These guidelines shall be effective for declaration of dividends from the profits of the
Mumbai, June 19 India’s foreign exchange reserves rose by $3.074 billion during the week ended June 11. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $608.081 billion from $605.008 billion reported for the
Mumbai, June 19 With the Reserve Bank of India (RBI) giving an “in-priciple” approval to Centrum Financial Services for setting up a small finance bank (SFB), both Centrum and BharatPe are ready to take over the crisis-ridden Punjab & Maharashtra
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