Tag: Reserve Bank Of India

The Reserve Bank of India (RBI) had asked all banks in the country to replace the old magnetic strip cards with the new EMV chip-based debit and credit cards. The apex court had also fixed the deadline for the same as April 29. As per the RBI guidelines, the banks need to provide new EMV […]

The State Bank of India (SBI) has released a recruitment notification for the positions of Specialist Cadre Officers. Interested and eligible candidates can apply for the positions by May 20, 2019. Educational Qualification B.E./B.Tech./ MCA (from a recognized University). M.Sc./ M. Tech. in CS/ IT (from a recognized University) will be an added advantage. Age […]

Bhubaneswar: In a major relief, the Reserve Bank of India, Bhubaneswar has facilitated exchange of currency notes damaged in the severe cyclonic storm Fani. Not only this, it has also asked the banks to function for two additional hours, i.e. till 6PM. As per reports, all banks have been directed to allow exchange of currency […]

New Delhi/Mumbai: Further monetary policy easing is expected as the economy struggles with a demand downturn, liquidity constraint and a high finance cost, sources said on Friday. It is learnt that Reserve Bank of India would stick with its stance and further lower the repo rate, which will in turn reinvigorate consumer sentiment and shore […]

Mumbai: The Reserve Bank of India has decided to extend the usage timings for ‘Real Time Gross Settlement’ (RTGS) system from June 1. A notification to this effect was issued on Tuesday. RTGS is a financial transaction system, where there is continuous and real-time settlement of fund transfers, individually on a transaction-by-transaction basis. However, the […]

New Delhi: The Reserve Bank of India (RBI) on Wednesday announced the setting-up of a committee to work for the development of housing finance securitisation market in the country under the chairmanship of Harsh Vardhan, Senior Advisor with Bain & Co. An RBI notification said that the committee would review the existing state of mortgage-backed […]

Mumbai: The Reserve Bank of India on Wednesday constituted a task force on development of secondary market for corporate loans. The six-member task force will have T. N. Manoharan, Chairman of Canara Bank, as its chairperson and will submit its report by the end of August 2019. The RBI said that the terms of reference […]

New Delhi: Getting a leg-up from the demonetisation of Rs 500 and Rs 1,000 currency notes in November 2016, the share of e-Money in India’s payment systems grew to 21.5 per cent in 2017 from 0.8 per cent in 2012, according to a new report prepared by the Reserve Bank of India (RBI). With Rs […]

New Delhi: Despite a large growth in digital payments after demonetisation of Rs 500 and Rs 1,000 notes in 2016, cash is “deeply embedded” in the payment system in India, according to a new report from the Reserve Bank of India. At 11.59 per cent of Gross Domestic Product (GDP) India had a high cash […]

New Delhi: The number of ATMs in India dropped to 2,21,703 as on March 31, 2019 from 2,22,300 at the end of 2017, recording a decrease of 597 ATMs during the period, according to a report released by the Reserve Bank of India. India also has one of the lowest ratios of ATM cash withdrawal […]

New Delhi: After the demonetisation of Rs 500 and Rs 1000 notes in 2016 pushed digital payments, Aadhaar-enabled electronic know your customer (eKYC) resulted in an exponential growth of such payments in the country, according to a new report by the Reserve Bank of India. Transactions in which both the payer and the payee use […]

New Delhi: The State Bank of India has refused to disclose any communication it received from the government or the Reserve Bank of India on electoral bonds, terming it “personal information” and held in “fiduciary capacity”. Responding to an RTI filed by Pune-based activist Vihar Durve who had demanded copies of all letters, correspondence, directions, […]

New Delhi: The RBI will examine concerns around its strict data localisation rules that require storing of customer data exclusively in India without creating mirror sites overseas, the government said Tuesday. The Reserve Bank of India (RBI) in April last year asked payment firms to ensure their data are stored exclusively on local servers, setting […]

For opening a bank account, someone needs to undergo know-your-customer (KYC) verification. The Reserve Bank of India (RBI) has simplified the KYC documentation allowing submission of a single document with photograph and address. The documents approved for KYC include passport, driving licence, voter ID card, PAN card, Aadhaar and job card. But in a recent […]

Mumbai: RBI Deputy Governor Viral Acharya has quit six months before the end of his term, sources said on Monday. Acharya had joined as the RBI Deputy Governor in January 2017. The Reserve Bank of India (RBI) did not respond to queries on this regard. Acharya is the second top RBI official to quit after […]