Stay Connected. Stay Informed.
Representational Image New Delhi: Digital payments firm Paytm posted a wider loss in the fiscal fourth quarter on Wednesday, hurt by weakness in its payments and financial services business after the central bank shut down its banking unit. The company’s consolidated net loss was at Rs 5.5 billion as it took an impairment of Rs…
The story so far: To strengthen the existing regulatory framework for long gestation period financing for projects such as infrastructure, non-infrastructure and commercial real estate sectors, the Reserve Bank of India (RBI) issued draft regulations for consultation earlier this month. The regulations endeavour to provide a “harmonised prudential framework” for financing projects. It also proposes…
Read More “RBI’s proposed framework to administer project financing | Explained” »
Eligible small finance banks will have to provide a detailed rationale for the transition The Reserve Bank of India (RBI) on Friday released a set of criteria that small lenders need to achieve, including performance metrics and market listing, to become a universal bank and provide comprehensive services to both retail and corporate clients. The…
Read More “RBI Lays Out Roadmap For Small Lenders To Achieve Universal Bank Status” »
The RBI has invited comments from stakeholders on the draft circular by May 31 (Representational) The RBI on Friday released draft guidelines on digital lending to ensure transparency in the aggregation of loan products from multiple lenders by lending service providers (LSP) so that borrowers get prior knowledge about all credit offers that are available…
Read More “RBI Issues Draft Rules On Digital Lending To Give Borrowers A Better Deal” »
Image for representational purposes only. The story so far: Following its announcement in June 2022 that it will seek better regulation of offline payment aggregators (PAs) facilitating proximity or face-to-face transactions, the Reserve Bank of India (RBI) floated two consultation papers earlier this month. The first deals with activities of offline PAs, while the second…
The bank said it is working with the RBI to address remaining issues. New Delhi: Hours after the Reserve Bank of India prohibited Kotak Mahindra Bank from onboarding new customers online and issuing fresh credit cards, citing issues with the company’s data security and information technology infrastructure, the bank has said it is adopting new…
Read More “Services Won’t Be Interrupted For Existing Customers: Kotak Mahindra Bank” »
Representational image of a Kotak Mahindra Bank branch in New Delhi | Photo Credit: Reuters The Reserve Bank of India today directed Kotak Mahindra Bank Limited to cease and desist, with immediate effect, from onboarding of new customers through its online and mobile banking channels and issuing fresh credit cards. The bank shall, however, continue…
Twelve of the 20 new companies which bought electoral bonds were from Hyderabad. | Photo Credit: Akash Dhage/Unsplash Despite companies in existence for less than three years not being allowed to make political contributions — even through the electoral bonds route — data shows that at least 20 such newly incorporated firms purchased poll bonds…
RBI has also canceled the certificate of registration of 4 NBFCs. (Representational) Mumbai: The Reserve Bank on Friday said it has imposed a penalty of Rs 1 crore on IDFC First Bank and Rs 49.70 lakh on LIC Housing Finance for violation of certain norms. The penalty on IDFC First Bank has been imposed for…
Read More “RBI Penalises LIC Housing Finance, IDFC First Bank Over Violation” »
Existing website (https://rbi.org.in) will be available simultaneously for some time. (Representational) Mumbai: The new website and mobile application of the Reserve Bank of India (RBI) was released on Friday by Governor Shaktikanta Das. The new website can be accessed using the URL https://website.rbi.org.in The new mobile application of the Reserve Bank of India can be…
Read More “Reserve Bank of India Launches New Website, Mobile Application” »
