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RBI allows card networks, wallets to access RTGS, NEFT

RBI allows card networks, wallets to access RTGS, NEFT

🕔11:37, 29.Jul 2021

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

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India’s forex reserves rise by over $800 mn

India’s forex reserves rise by over $800 mn

🕔07:56, 24.Jul 2021

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

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Several factors still hinder monetary transmission to bank rates: RBI

Several factors still hinder monetary transmission to bank rates: RBI

🕔13:16, 19.Jul 2021

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

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India’s forex reserves rise by over $1.8 bn

India’s forex reserves rise by over $1.8 bn

🕔12:57, 17.Jul 2021

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

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Indian economy to see ‘substantial slack’ in FY22 despite growth: RBI

Indian economy to see ‘substantial slack’ in FY22 despite growth: RBI

🕔07:27, 16.Jul 2021

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

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RBI proposes changes in fund raising norms of urban co-operative banks

RBI proposes changes in fund raising norms of urban co-operative banks

🕔07:26, 15.Jul 2021

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

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RBI imposes curbs on Mastercard over data storage

RBI imposes curbs on Mastercard over data storage

🕔21:41, 14.Jul 2021

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

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Monetary policy normalisation may start by end of FY22

Monetary policy normalisation may start by end of FY22

🕔17:26, 13.Jul 2021

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

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RBI comes up with scheme for retail investment into govt securities

RBI comes up with scheme for retail investment into govt securities

🕔07:17, 13.Jul 2021

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

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India’s forex reserves rise by over $1 bn

India’s forex reserves rise by over $1 bn

🕔07:42, 10.Jul 2021

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

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Give 10 days/yr leave to staff in sensitive areas, RBI to banks

Give 10 days/yr leave to staff in sensitive areas, RBI to banks

🕔07:40, 10.Jul 2021

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

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RBI asks banks to prepare for transition from LIBOR

RBI asks banks to prepare for transition from LIBOR

🕔08:39, 9.Jul 2021

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

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RBI penalises 14 banks for non-compliance of NBFC lending norms

RBI penalises 14 banks for non-compliance of NBFC lending norms

🕔07:09, 8.Jul 2021

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

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New norm to calculate interest on overdue term deposits

New norm to calculate interest on overdue term deposits

🕔07:39, 5.Jul 2021

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

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RBI red flags concerns around big tech in financial services

RBI red flags concerns around big tech in financial services

🕔16:28, 2.Jul 2021

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

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RBI bars MPs, MLAs from holding MD post in urban cooperative banks

RBI bars MPs, MLAs from holding MD post in urban cooperative banks

🕔20:49, 26.Jun 2021

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)

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RBI extends restrictions on PMC Bank till Dec 31

RBI extends restrictions on PMC Bank till Dec 31

🕔07:20, 26.Jun 2021

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

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RBI issues guidelines for NBFCs’ dividend declarations

RBI issues guidelines for NBFCs’ dividend declarations

🕔19:29, 24.Jun 2021

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

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India’s forex reserves rise by over $3 bn

India’s forex reserves rise by over $3 bn

🕔07:39, 19.Jun 2021

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

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Centrum, BharatPe set to take over PMC Bank

Centrum, BharatPe set to take over PMC Bank

🕔07:36, 19.Jun 2021

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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