Google Pay Not A Payment System Operator, Says RBI; Google Clarifies
Delhi: The Reserve Bank of India (RBI) has told the Delhi High Court that Google Pay is a third-party app provider (TPAP) and does not operate any payment systems. Therefore, its…
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RBI To Supervise Co-Op Banks, Cabinet Nod To Ordinance
New Delhi: The Centre has decided to bring urban and multi-state cooperative banks under the direct supervision of the Reserve Bank of India to protect depositors in these financial…
SC Gives 3 Days To Finance Mininstry, RBI To Decide On Moratorium Period Interest
New Delhi: The Supreme Court on Friday asked Solicitor General Tushar Mehta to convene a meeting of the Finance Ministry and RBI officials over the weekend to decide whether interest…
RBI Proposes 10 Yrs Cap On Term Of Bank Promoters Functioning As CEO
Mumbai: The Reserve Bank of India has come up with a discussion paper on governance in commercial banks, whereby it has proposed to limit the term of a bank promoter to hold the position of…
RBI Cuts Repo Rate By 40 BPS, Extends EMI Moratorium Period By 3 Months
Mumbai: To mitigate the economic impact of COVID-19 outbreak, the Reserve Bank of India (RBI) on Friday again reduced the key lending rates by 40 basis points. Accordingly, the Monetary…
Cabinet okays change in partial credit guarantee scheme for NBFCs
New Delhi: The Union Cabinet on Wednesday approved the modification to the existing partial credit guarantee scheme for NBFCs. Post the modification, the scheme will be extended to bonds…
RBI announces Rs 50,000 cr special liquidity facility for mutual funds
Mumbai: The Reserve Bank of India on Monday announced a Rs 50,000 crore special liquidity facility for mutual fund, days after Franklin Templeton Mutual Fund decided to close six debt…
RBI Unleashes More Firepower; Cuts Reverse Repo
Mumbai: To mitigate the impact of economic fallout on financial liquidity due to COVID-19 pandemic, the Reserve Bank of India on Friday announced a set of new measures including a reduction…
“We shall cure, we shall endure”- RBI Governor Announces Ameliorative…
New Delhi: While Coronavirus pandemic continues to sweep the world shutting down economies, the Reserve Bank of India on Friday announced a slew of measures to help the country fight the…
COVID-19: RBI offers more sops to ease compliance burden
New Delhi: The Reserve Bank of India has announced new measures to ease the compliance burden on sectors of the Indian economy most affected by the coronavirus scare. Accordingly, it has…