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Tag: Rbi

State Bank Of India
SBI increases limit on IMPS transactions to Rs 5 lakh

IMPS, offered by National Payments Corporation of India, empowers customers to transfer money instantly through banks and RBI authorised Prepaid Payment Instrument Issuers (PPI) across India.

RBI Allows Offline Digital Payments, Capped At Rs 200 Per Transaction
RBI Allows Offline Digital Payments, Capped At Rs 200 Per Transaction

Such transactions would not require an Additional Factor of Authentication (AFA). Since the “transactions are offline, alerts (by way of SMS and / or e-mail) will be received by the customer after a time lag,” the RBI notice read.

India's Current Account Slips Into Deficit In Q2, CAD Now At 1.3 Pc Of GDP
India's Current Account Slips Into Deficit In Q2, CAD Now At 1.3 Pc Of GDP

Private transfer receipts, which mainly represent remittances by Indians employed overseas, increased 3.7 per cent over the year-ago period to USD 21.1 billion.

RBI Extends Deadline For Periodic KYC Update Till March 31
RBI Extends Deadline For Periodic KYC Update Till March 31

In May, the RBI had advised the regulated entities not to impose punitive restriction on operations of accounts of customers for their failure to comply with the KYC updation norms till December-end.

RBI Says RBL Bank's Financial Position
RBI Says RBL Bank's Financial Position "Satisfactory"; Assures Depositors, Stakeholders

The Reserve Bank of India has also appointed its Chief General Manager Yogesh K Dayal as an additional director on the board of RBL Bank.

AIBOA Seeks RBI Probe Against IDBI Bank
RBI Should Probe IDBI-Diamantaire Groups Loan Default: AIBOA

Earlier, the Bank of India, as the leader of a consortium, had taken over possession of the diamantaire's property for failure to repay loans worth Rs 468 crore in 2018, said Nagarajan, on the issue that was first highlighted by IANS (December 20-21).

RBI-Logo
Industry Bodies Urge RBI To Extend Card Tokenisation Deadline

The digital payments ecosystem is a long way from consumer-ready solutions and unless regulated entities are compliant, merchants will not be able to successfully process tokenised transactions, they said in the joint letter.

Feature Phones
RBI to develop UPI for feature phones to boost digital payments

The Reserve Bank of India has decided to develop the UPI platform for feature phones with an aim to increase the penetration of digital payments in the Country.

RBI
RBI To Soon Float Paper On Reasonableness Of Charges On Transactions Via Digital Payments

To further encourage the use of UPI by retail investors, he said it is proposed to enhance the transaction limit for payments through UPI for Retail Direct Scheme and IPO applications from Rs 2 lakh to Rs 5 lakh.

Ominous Omicron: RBI Keeps Rates Intact, Remains Accommodative
Ominous Omicron: RBI Keeps Rates Intact, Remains Accommodative

It was widely expected that MPC would hold rates along with the accommodative stance.

Equities Jump In Early Trade On RBI's Accommodative Stance
Equities Jump In Early Trade On RBI's Accommodative Stance

Besides, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 17,044 points after closing at 17,176 on Tuesday.

India Exemplary In Publishing Its Foreign Exchange Market Intervention: US Treasury
India Exemplary In Publishing Its Foreign Exchange Market Intervention: US Treasury

The Reserve Bank of India (RBI) reduced its policy rate 115 basis points over the first half of 2020, and it has remained at four percent since May 2020.

RBI's Recent Norms May Spike NPAs For NBFCs, Says ICRA
RBI's Recent Norms May Spike NPAs For NBFCs, Says ICRA

"Stricter NPA upgradation requirement is likely to push-up the NBFC and HFC (housing finance companies) NPAs of March 2022 by about 160-180 basis points and 60-80 basis points, respectively, over March 2021 levels," ICRA's Vice President, Financial Sector Ratings, A.M. Karthik said.

Pvt Bank Promoters Can Hold Up To 26% After 15 Yrs, Will Have To Bring In More Money
Pvt Bank Promoters Can Hold Up To 26% After 15 Yrs, Will Have To Bring In More Money

The RBI accepted the recommendation that no changes be made to the extant instructions related to the initial lock-in requirements of holding a minimum 40 per cent of the paid-up voting equity share capital of the bank for the first five years but said no cap on the promoters holding during the same period.

Cryptocurrency
Govt lists bill seeking to ban all pvt cryptocurrencies, allow official digital currency of RBI

Centre on Tuesday listed a new bill for the upcoming Winter Session of Parliament which will seek to ban all private cryptocurrencies in the country, while allowing an official digital currency to be issued by the RBI.

Shaktikanta Das
Consumption Demand Making Strong Comeback: RBI Guv

India has potential to grow at a reasonably high pace in the post-pandemic scenario, said Reserve Bank of India Governor Shaktikanta Das.

PM Chairs High-Level Meeting On Cryptocurrency, Related Issues
PM Chairs High-Level Meeting On Cryptocurrency, Related Issues

The high-level meeting comes after RBI Governor Shaktikanta Das sounded an alarm on cryptocurrencies, cautioning investors on the potential pitfalls of the digital currency.

RBI Asks Banks Not To Standardise Bad Loans On Just Getting Interest Payments
RBI Asks Banks Not To Standardise Bad Loans On Just Getting Interest Payments

Lenders have also been asked to specifically mention in the loan agreements the exact due date of a loan and the breakup of the principal and interest, among others, instead of giving a description of the due dates, which leaves scope for interpretation.

PM Modi
PM Modi Launches Scheme For Retail Participation In Govt Securities

With the launch of the scheme, he said, "One Nation-One Ombudsman" has become a reality.

PM To Launch 2 Innovative Customer Centric Initiatives Of RBI On Friday
PM To Launch 2 Innovative Customer Centric Initiatives Of RBI On Friday

The Reserve Bank-Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI. The central theme of the scheme is based on 'One Nation-One Ombudsman' with one portal, one email and one address for the customers to lodge their complaints.

Restructuring 2.0 Window
As Restructuring 2.0 Window Closes, Less Than 1% Of Eligible Companies Opt

The continuation of strong government support "such as the expansion of the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) and its extension till March 31, 2022" has helped companies manage temporary liquidity disruptions.

RBI Governor Shaktikanta Das
Shaktikanta Das Given 3-Year Extension As RBI Governor

The decision was taken by the Appointments Committee of Cabinet headed by Prime Minister Narendra Modi.

Bank Gross NPAs To Rise To 8-9%, Stressed Assets To Touch 10-11%: Report
Bank Gross NPAs To Rise To 8-9%, Stressed Assets To Touch 10-11%: Report

The estimates of CRISIL Ratings are predicated on a base-case scenario of 9.5 per cent GDP growth this fiscal and continued improvement in corporate credit quality.

RBI
RBI Introduces Digital Payment Solutions In Offline Mode

RBI Governor said that the pilot of this innovative technology facilitating digital payments in offline mode has been successful and the learnings indicate that there is a scope to introduce such solutions, especially in remote areas.

RBI
RBI Enhances Transaction Limit In IMPS Transfers To Rs 5 Lakh

The current IMPS limit is Rs 2 lakh meaning a bank consumer can transfer this amount for making any immediate money transfer on a day.

RBI
RBI Maintains Status Quo For 8th Time; Retains Repo Rate At 4 Pc

RBI had last revised its policy repo rate or the short-term lending rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.

RBI
RBI Appoints Ajay Kumar As New Executive Director

As Executive Director, Kumar will look after the Department of Currency Management, Foreign Exchange Department and Premises Department.

IBA Seeks Licence From RBI To Set Up Rs 6,000-Cr NARCL; Approval Likely In Few Weeks
IBA Seeks Licence From RBI To Set Up Rs 6,000-Cr NARCL; Approval Likely In Few Weeks

IBA, entrusted with the task of setting up a bad bank, has put a preliminary board for NARCL in place. The company has hired P M Nair, a stressed assets expert from State Bank of India (SBI), as the managing director.

RBI
RBI announces Open Market Purchase under G-sec Acquisition Programme 2.0

Under the G-sec Acquisition Programme (G-SAP 2.0), the Reserve Bank will conduct open market purchase of government securities of Rs 25,000 crore on August 26

India's Forex Reserves Rise By Over $9 Bn
India's Forex Reserves Rise By Over $9 Bn

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

RBI Governor Shaktikanta Das
Recovering Economy: RBI Retains FY22 Projection For Real GDP Growth At 9.5%

RBI Governor Shaktikanta Das pointed out that economy is recovering from set back from the Covid's second wave. He said that accelerated vaccination drive along with, buoyant exports and monetary as well as fiscal support has aided recovery.

RBI-Logo
Old Notes' Sale And Purchase: RBI Cautions Citizens

Amid the cases of rampant sale and purchase of old coins and currency notes, RBI has come up with an advisory for citizens.

RBI
RBI Allows Card Networks, Wallets To Access RTGS, NEFT

Direct access for non-banks to CPS lowers the overall risk in the payments ecosystem

RBI
Indian Economy To See 'Substantial Slack' In FY22 Despite Growth: RBI

"Even with a 9.5 per cent GDP growth in 2021-22, there will be substantial slack in the economy and demand pressures may take some more time to become evident," said te RBI Bulletin for July 2021.

RBI Governor Shaktikanta Das
Financial Inclusion Will Continue To Be A Policy Priority After Pandemic: RBI Guv

To measure the extent of financial inclusion in the country, it has been decided to construct and periodically publish a financial inclusion index (FII).

RBI
RBI Restricts Continuous Tenure Of UCB MDs To 15 Years

The Reserve Bank of India has limited the maximum continued term of managing directors and whole time directors (WTD) of urban cooperative banks (UCBs) to 15 years in a series of steps taken to ensure professional management of these institutions that have often been found undertaking non-transparent activities right at the top.

RBI
RBI Allows Centrum To Set Up Small Finance Bank, Paves Way For Takeover Of PMC Bank

Paving the way for takeover of crisis-ridden Punjab and Maharashtra Cooperative Bank (PMC), the Reserve Bank of India on Friday granted in-principle approval to the Centrum Financial Services to set up a small finance bank.

Cash Withdrawal From ATM
RBI Hikes ATM Cash Withdrawal Charges, Know Details Here

A committee constituted by the Reserve Bank of India (RBI) for reviewing ATM fees gamut, has recommended increasing certain charges related to cash withdrawal from ATM machines.

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ATM
RBI Permits Banks To Increase Charges For Cash/Non-Cash Transactions Beyond Free Permissible Limit

The RBI said the charges have been allowed to be increased given the increasing cost of ATM deployment and expenses towards ATM maintenance incurred by banks/white label ATM operators

Forex Reserve Indian
As India's Forex Reserves Cross $600B, Liquidity Gush To Fuel Equities

As India's forex reserves cross the $600 billion-mark, there are indications that the ample liquidity, both globally and in the domestic space will continue to drive the Indian stock markets.

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