RBI

RBI issues new order on credit cards to give customers more choice

The RBI on Wednesday issued a directive barring credit card issuers (banks and non-banks) from entering into any arrangement or agreement with card networks such as American Express, MasterCard Asia, Diners Club and Rupay that restrain them from availing the services of other card networks.

Mar 6, 2024

Here's all you need to know about RBI's Unclaimed Deposits portal

The Reserve Bank of India (RBI) on Tuesday issued a set of frequently asked questions (FAQs) about its UDGAM portal to help people recover their funds that are stuck in unclaimed deposits/ accounts with banks.

Mar 6, 2024

Sovereign Gold Bonds to be issued from Feb 12-16, can be used as collateral for loans [details]

Finance Ministry on Friday said that the Sovereign Gold Bonds 2023-24 (Series IV) will be opened for subscription during February 12-16, with settlement date as February 21.

Feb 10, 2024

Sensex tanks more than 600 points after RBI credit policy

Not belying the expectations of senior economists, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) retained the repo rate at 6.50 per cent.

Feb 8, 2024

Lakhs of dormant wallets, one Pan Card for 1000 accounts... how Paytm came under the RBI scrutiny and what next [details]

This is not the first time Paytm has been caught in the regulatory crosshairs. However, this is the first time that its violations have been under a detailed scrutiny, begging the question how did it get away for seven years?

Feb 6, 2024

Growth in banks' credit surpassing deposits: RBI

The gap between credit and deposit growth of banks as of the first fortnight of January 2024 has widened compared to the last fortnight of September 2023, according to the latest RBI data.

Jan 27, 2024

RBI proposes stricter rules for housing finance firms

The RBI on Monday issued a draft circular which proposes to harmonise regulations of housing finance companies (HFCs) with that of non-banking finance companies (NBFCs) in several areas such as minimum capital requirement and deposit taking rules.

Jan 16, 2024

rbi rule deposit of rs 5000 more than demonetisation modi govt currency ban

RBI issues directions on Internal Ombudsman rules for banks, NBFCs

The Reserve Bank of India (RBI) on Friday released a master direction on the Internal Ombudsman norms for banks and big NBFCs to harmonise the instructions applicable to various regulated entities on the Internal Ombudsman (IO) mechanism.

Dec 30, 2023

Online loan crackdown: FM Nirmala Sitharaman says 2,500 apps removed by Google from Playstore

Several borrowers claim that these fraudulent apps have a notorious history of charging unethical interest rates, and they even used to threaten borrowers to pay exorbitantly high interest rates

Dec 18, 2023

India's forex reserves rise to 4-month high

India's foreign exchange reserves rose to an over four-month high of $604.04 billion as of December 1, according to the latest data released by the RBI on Friday.

Dec 9, 2023

RBI retains repo rate at 6.5%

As predicted by economists, the Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.50 per cent.

Dec 8, 2023

Over 97% of Rs 2,000 banknotes have been returned: RBI

The total value of Rs 2,000 banknotes in circulation, has declined to Rs 9,760 crore at the close of business on November 30, 2023, the Reserve Bank of India (RBI) announced on Friday.

Dec 1, 2023

Manappuram Finance shares plunge after RBI crackdown

Manappuram Finance fell close to 3 per cent in the morning trade on Friday after the RBI imposed a Rs 42.78 lakh fine on the NBFC for breach of norms and tightened norms for consumer loans.

Nov 17, 2023

Dollar–Rupee To Trade In Rs 82-84 In 2HFY24: CARE Ratings

India's forex reserves decline by $2.36 billion in a week

India's foreign exchange reserves fell by $2.36 billion to $583.53 billion during the week ended October 20, according to RBI data released on Friday.

Oct 28, 2023

RBI fines Mumbai bank for levying extra charge on ATM cards

The RBI has slapped a fine of Rs 13.3 lakh on SVC Co-operative Bank Ltd., Mumbai as it was imposing annual maintenance charges for ATM cards in Basic Savings Bank Deposit Accounts in violation of the central bank's directions.

Oct 23, 2023

RBI slaps fines on Union Bank of India, RBL Bank for breach of rules

The Reserve Bank of India (RBI) on Friday said it has imposed monetary penalties on Union Bank of India and RBL Bank for the violation of norms.

Oct 14, 2023

RBI slaps fines on 3 banks in Gujarat for breach of rules

The Reserve Bank of India (RBI) has imposed monetary penalties on three cooperative banks in Gujarat for breach of rules after carrying out statutory inspections of their records.

Oct 4, 2023

Interest rate for 5-year recurring deposit hiked to 6.7 %, rates for other key schemes kept unchanged

The government has kept interest rates of all key small savings schemes unchanged for the October-December period, except for the five-year recurring deposit, which has been hiked from 6.5 per cent to 6.7 per cent.

Sep 30, 2023

RBI to maintain rates, real estate sector to be disappointed

Only an unforeseen and sustained increase in inflation may compel the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) to revise upwards the repo rate, said the Chief Economist at Anand Rathi Shares and Stock Brokers.

Sep 29, 2023

Uday Kotak Resigns as MD and CEO of Kotak Mahindra Bank

While stepping down from his executive role, Kotak will continue to serve as a non-executive Director of the bank

Sep 2, 2023

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