Tag: RBI

RBI Issues Draft Rules On Digital Lending To Give Borrowers A Better Deal

Posted on By admin
RBI Issues Draft Rules On Digital Lending To Give Borrowers A Better Deal

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” »

Nation

RBI’s latest recommendations to regulate payment aggregators in offline spaces | Explained

Posted on By admin
RBI’s latest recommendations to regulate payment aggregators in offline spaces | Explained

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…

Read More “RBI’s latest recommendations to regulate payment aggregators in offline spaces | Explained” »

Business

Services Won’t Be Interrupted For Existing Customers: Kotak Mahindra Bank

Posted on By admin
Services Won’t Be Interrupted For Existing Customers: Kotak Mahindra Bank

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” »

Nation

RBI bars Kotak Bank from issuing new credit cards, onboarding customers via online banking

Posted on By admin
RBI bars Kotak Bank from issuing new credit cards, onboarding customers via online banking

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…

Read More “RBI bars Kotak Bank from issuing new credit cards, onboarding customers via online banking” »

Business

Electoral bonds data: 20 firms bought electoral bonds within 3 years of incorporation, despite 3-year rule

Posted on By admin
Electoral bonds data: 20 firms bought electoral bonds within 3 years of incorporation, despite 3-year rule

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…

Read More “Electoral bonds data: 20 firms bought electoral bonds within 3 years of incorporation, despite 3-year rule” »

Business

RBI Penalises LIC Housing Finance, IDFC First Bank Over Violation

Posted on By admin
RBI Penalises LIC Housing Finance, IDFC First Bank Over Violation

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” »

Nation

Reserve Bank of India Launches New Website, Mobile Application

Posted on By admin
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” »

Nation

RBI to enable UPI for cash deposit facility, to allow foreign investors in IFSC to invest in Sovereign Green Bonds

Posted on By admin
RBI to enable UPI for cash deposit facility, to allow foreign investors in IFSC to invest in Sovereign Green Bonds

Mumbai, Apr 05 (ANI): RBI Governor Shaktikanta Das addresses during a press conference regarding the monetary policy decisions, in Mumbai on Friday. (ANI Photo) | Photo Credit: ANI Considering the popularity and convenience of UPI, the Reserve Bank of India (RBI) has proposed to enable UPI for cash deposit facility. RBI Governor Shaktikanta Das, while…

Read More “RBI to enable UPI for cash deposit facility, to allow foreign investors in IFSC to invest in Sovereign Green Bonds” »

Business

Food price uncertainties to weigh on inflation trajectory; RBI retains FY’25 forecast at 4.5%

Posted on By admin
Food price uncertainties to weigh on inflation trajectory; RBI retains FY’25 forecast at 4.5%

The retail inflation in February was 5.1%, while inflation in the food basket was at 8.66%. The Reserve Bank of India (RBI) on April 5 said food price uncertainties continue to weigh on the inflation trajectory going forward, even as it retained 4.5% retail inflation projection for the current fiscal. In its first bi-monthly monetary…

Read More “Food price uncertainties to weigh on inflation trajectory; RBI retains FY’25 forecast at 4.5%” »

Business