Search result for Reserve Bank of India
The Rs. 2,000 note is being phased out of circulation but will remain valid currency until September 30.
A circular from the Reserve Bank of India dated May 19 announced the withdrawal of Rs 2,000 currency notes from circulation. The memo said that the notes will remain valid tender until September 30. According to the document, the RBI's "Clean Note Policy" necessitates the change. Th...
According to the RBI, SBI, ICICI Bank, and HDFC Bank continue to be domestic systemically important institutions.
The State Bank of India, ICICI Bank, and HDFC Bank are still considered to be Domestic Systemically Important Banks, according to a statement from the Reserve Bank of India on Monday (D-SIBs). The central bank had first released a framework for handling D-SIBs in July 2014, which obliged it to re...
3 NPA WORTH OVER RS 35 TEN-MILLION REPORTED AS FRAUD TO RBI
HIGHLIGHTS
- Indian Bank has reported three accounts as fraud to the RBI.
- The worth of these accounts is over Rs 35 ten-million.
Indian Bank has reported three accounts as fraud to the Reserve Bank Of India (RBI). The worth of these ac...
AMBANI TO PARTNER WITH FACEBOOK AND GOOGLE
HIGHLIGHTS
- Mukesh Ambani is going to forge a partnership with Facebook and Google.
- Three partners seek to obtain a license to enter India’s digital payments business.
Reliance Industries Ltd., led by Asia’s richest man Mu...
IKIGAI LAW RESPONDS TO DRAFT OF NATIONAL STRATEGY ON BLOCKCHAIN
HIGHLIGHTS
- In JAN 2021, the MEITY released a draft National Strategy on Blockchain.
- Identifying the potential for adoption of blockchain in IndiaThe draft strategy, the draft talks about envisaging creation of a 'National Level Blockchain Framewor...
INDIA LIKELY TO FACE CRYPTOCURRENCY BRAIN DRAIN DUE TO THE GOVERNMENT'S STAND
Highlights:
• Crypto domain exchanges and investors are losing hope in India
• Some experts still believe that there is hop...
INDIAN GOVT. LOOKING AT BANNING CRYPTOCURRENCIES VIA BILL
Highlights:
• Reserve Bank of India is looking at setting up a framework to launch digital currencies
• Risks of the crypto...
RBI’S TO INITIATE RECOVERY IN MONEY-MARKET RATES VIA CASH TIGHTENING
HIGHLIGHTS
- The Reserve Bank of India aims to drain Rs. 2 trillion (equal to $27.3 billion) of banking funds.
- The 14-day reverse repo operation to drain the cash starts on 15 JAN 2021.
With Reserve Bank of India (RBI) taking first sma...
RBI SAYS INDIA FACED COVID WITH ROBUST ECONOMY
HIGHLIGHTS
- RBI released its bi-annual Financial Stability Report.
- The report stated that gross NPA of banks could rise to 13.5% by SEP 2021 from 7.5% in 2020.
- Following COVID-19, expansion in government‘s market borrowing programme wa...
COVID-19 AFFECTED 70% OF BANKING SECTOR DEBT
HIGHLIGHTS
- Due to COVID-19 outbreak, Indian government implemented a lockdown to prevent further spread of infection.
- With all economic activities coming to a halt, economy received a big time jolt.
- A report by the Reserve Bank of India has...
SPECIAL OMO OF GOVT SECURITIES WORTH RS 10,000 CRORE ANNOUNCED BY THE RBI
Highlights
• The RBI will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) on July 2, 2020
• As a temporary measure, the RBI has already increased the borrowing limit of scheduled banks under its MSF scheme
...
RECOVERY HOPES FOR INDIAN ECONOMY NOW LIES ON RESERVE BANK OF INDIA
Highlights
- RBI’s interest rate decision due on Feb 6
- In terms of short-term growth stimulus, budget fell short
The budget 2020-21 was presented on February 1. It was presented by Finance Minister, Nirmala Sitha...
Banks select NBFCs for disbursement of loans
Mumbai: Banks in India are still hesitant to lend to non-bank financiers more than a year after Infrastructure Leasing and Financial Services Ltd's (IL&FS) defaults, and instead have found ways to circumvent government coaxing to raise lending to shadow banks, two people said, informed of...
The plan is expectedly giving NBFCs extra lending capacity
Whenever an individual or an organization has to keep its fiancés meet the ends banks are the saviors. The bank is an institution that runs to deal with all the issues that are based on the finances in the country. All the citizens are linked to banks and get benefit from that....
Digital India initiative has yet not worked as planed
While' Digital India ' has been a Modi government flagship initiative, digital divide caused by poor connectivity remains one of the major roadblocks in India's use of financial services. With technology becoming an important enabler for access to financial services, certain regions i...
Disaster protection Corp of India increases 2018-19 provisioning by 30%
MUMBAI: State-claimed Life Insurance Corp of India (LIC) has raised arrangements for suspicious resources by 30% to Rs 23,760 crore for the year finished March, it said in its just-discharged yearly report. This came in the wake of looking into resource quality and the exhibition of interests in ...
Fintech, insurance companies can control CPS directly
Mumbai: Reserve Bank of India (RBI) is considering the possibility of providing direct access to processing RTGS and NEFT transactions in line with global best practices to non-bank players such as fintech and insurance companies.
Citing the examples of England and Switzerland's ban...
International Authority Bill of Financial Services Has Been Passed by Rajya Sabha
The Rajya Sabha on Thursday passed the International Financial Services Centers (IFSCs) Authority Bill, 2019 towards setting up a bound together position to manage every budgetary help in IFSCs in the country. An IFSC obliges clients outside the ward of the local economy. Such focuses manage stre...
Unchanged Repo Rate by RBI, So What About Your Loans and Fixed Deposits?
After 5 rate cuts in a very row, the Reserve Bank of India (RBI) has finally hit the pause button. The central bank, on Thursday, in its latest financial policy review unbroken the repo and reverse repo rates unchanged. RBI governor Shaktikanta Das the same that though the central bank is in no h...
India: Payment Banks May Convert To Small Finance Bank After A Business Of 5 Years
Payments banks can follow for conversion into small finance banks (SFBs) after 5 years of operation, furnished they meet the eligibility criteria, the Reserve Bank of India (RBI) stated on Thursday, as it introduced the remaining tips for on-tap licensing of non-public sector SFBs. The promoter o...