New Delhi, June 8 (IANS) After the demonetisation of Rs 500 and Rs 1000 notes in 2016 pushed digital payments, Aadhaar-enabled electronic know your customer (eKYC) resulted in an exponential growth of such payments in the country, according to a new
Mumbai, June 8 The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 2 crore on Kotak Mahindra Bank for not complying with the central bank’s directions to furnish details of its promoter shareholding. The bank was
New Delhi, June 8 Despite a large growth in digital payments after demonetisation of Rs 500 and Rs 1,000 notes in 2016, cash is “deeply embedded” in the payment system in India, according to a new report from the Reserve
Mumbai, June 7 (IANS) The Reserve Bank of India on Friday issued a revised framework for resolution of stressed assets allowing lenders to start resolution process within 30 days of default. The circular comes after the Supreme Court in April struck
Mumbai, June 6 Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) went for a hat-trick of rate cut on Thursday as it lowered its key lending rate for commercial banks by 25
Mumbai, June 6 (IANS) In a bid to boost digital fund transfer systems, the Reserve Bank on Thursday said that it will remove charges levied on transactions conducted through Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT). The
New Delhi/Mumbai, June 5 A booster dose in the form of further rate cut is expected from the Reserve Bank to rekindle economic growth which has been stunted by low demand, receding production and stagnant wages. Economy watchers contend that
Mumbai, May 30 The Reserve Bank of India on Wednesday constituted a task force on development of secondary market for corporate loans. The six-member task force will have T. N. Manoharan, Chairman of Canara Bank, as its chairperson and will submit
Mumbai, May 29 The Reserve Bank of India has decided to extend the usage timings for ‘Real Time Gross Settlement’ (RTGS) system from June 1. A notification to this effect was issued on Tuesday. RTGS is a financial transaction system,
Mumbai, May 25 To ease liquidity concerns, the Reserve Bank of India (RBI) on Friday said that it will inject Rs 15,000 crore through open market operations (OMOs) on June 13. Open market operations (OMOs) are conducted by the RBI
New Delhi/Mumbai, May 25 Further monetary policy easing is expected as the economy struggles with a demand downturn, liquidity constraint and a high finance cost, sources said on Friday. It is learnt that Reserve Bank of India would stick with
New Delhi, May 22 The Finance Ministry may ask the Reserve Bank of India (RBI) to put strong regulatory framework around NBFCs accessing non-bank public deposits, like pension and provident fund, as these are savings of the salaried class and
Mumbai, May 8 The necessity of setting up ‘State Finance Commissions’ was discussed in a meeting between RBI Governor Shaktikanta Das and Finance Commission Chairman N.K. Singh. The 15th Finance Commission headed by Chairman Singh on Wednesday held a detailed
New Delhi, May 7 The 15th Finance Commission will meet the RBI Governor, banks and financial institutions in a two-day meet in Mumbai, from Wednesday to discuss the transfer of central bank’s surplus capital to the government, among other issues.
New Delhi, April 27 The Reserve Bank of India (RBI) on Friday extended the “ombudsman scheme” for non-banking financial companies (NBFCs) to non deposit-taking NBFCs with asset size of at least Rs 100 crore. The decision comes after the central
New Delhi, April 26 The Supreme Court on Friday gave the RBI “one last opportunity” to disclose annual inspection reports of banks as it just stopped short of issuing a contempt notice against RBI Governor Shaktikanta Das, and ordered the
New Delhi, April 24 (IANS) The Reserve Bank of India (RBI) on Wednesday said that it has divested its entire stake in the National Bank For Agriculture and Rural Development and the National Housing Bank amounting to Rs 20 crore and
Mumbai, April 23 (IANS) Further addressing the liquidity concerns in the country, the Reserve Bank of India on Tuesday said it will buy government securities worth Rs 25,000 crore next month through two auctions of Rs 12,500 crore each. Open market
Mumbai, April 17 The Reserve Bank of India (RBI) on Tuesday issued Rs 50 denomination banknotes bearing the signature of Governor Shaktikanta Das. “The design of these notes is similar in all respects to Rs 50 banknotes in Mahatma Gandhi
New Delhi, April 15 The RBI’s revised stress assets resolution circular is likely to be out after the elections to clear the model code of conduct, and also the regulator may need time to have consultations with legal experts, industry
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