Finance Minister Nirmala Sitharaman to meet fintech companies amid Paytm fiasco
Feb 21, 2024, at 04:19 am
New Delhi: Finance Minister Nirmala Sitharaman has decided to hold a meeting with heads of financial technology companies next week to urge them to adhere strictly to regulatory guidelines, media reports said.
RBI releases 30 FAQs for Paytm Payments Bank account holders: Read the full text
Feb 17, 2024, at 05:05 am
The Reserve Bank of India (RBI) released a set of frequently asked questions (FAQs) on February 16 specifically addressing bank account holders of Paytm Payments Bank. Below is the complete text of the FAQs:
Paytm transfers nodal account to Paytm Payments Bank to Axis Bank
Feb 17, 2024, at 03:32 am
Mumbai: One97 Communications, the parent company of Paytm, has transferred its nodal account from Paytm Payments Bank to Axis Bank.
No relief for Paytm Payments Bank; RBI only extends deadline for imposing curbs
Feb 17, 2024, at 03:26 am
Mumbai: The Reserve Bank of India (RBI) on Friday extended the deadline for Paytm Payments Bank Ltd (PPBL) to cease accepting new deposits and conducting credit transactions.
Paytm restrictions imposed after thorough consideration, no roll back: RBI Governor
Feb 15, 2024, at 06:34 am
Mumbai: The RBI restrictions on Paytm have been imposed after thorough consideration as is the case in all the decisions made by the Central bank, RBI Governor Shaktikanta Das has said, reported media.
ED starts investigation into Paytm Payments Bank after RBI's restrictions on business: Report
Feb 15, 2024, at 04:53 am
Mumbai: The Enforcement Directorate (ED) began its investigation into Paytm Payments Bank on Wednesday, CNBC-TV18 reported citing sources.
RBI calls on banks to remain vigilant against accumulation of risks
Feb 15, 2024, at 03:35 am
Mumbai: RBI Governor Shaktikanta Das cautioned banks about the accumulation of risks within the banking system during a meeting with CEOs. He underscored the importance of remaining vigilant and avoiding complacency, stressing that banks must stay alert to potential risks, media reports said.
Key drivers of Indian and global market performance: A week in review
Feb 10, 2024, at 07:06 pm
Mumbai: This week's market update delves into the latest developments at both domestic and international markets and trends from February 03, 2024, to February 09, 2024, which drove investor sentiment.
Hit by RBI restrictions, Paytm to set up advisory committee headed by ex-SEBI Chairman M Damodaran
Feb 10, 2024, at 07:55 am
Mumbai: One97 Communications, the fintech company that owns the Paytm brand, revealed on Friday that it would set up an advisory committee led by former SEBI Chairman M Damodaran, media reported.
Market experts divided on RBI's choice to maintain key policy rate
Feb 09, 2024, at 06:12 am
New Delhi: As widely anticipated by financial markets and policy observers, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) opted to maintain the policy repo rate at its current level of 6.50 percent during its meeting on Thursday.
RBI keeps repo rate unchanged at 6.5%, pegs FY25 GDP growth at 7 percent
Feb 08, 2024, at 05:10 pm
Mumbai/UNI: As widely expected by markets and policy-watchers, the Reserve Bank of India (RBI)'s Monetary Policy Committee (MPC) on Thursday decided to keep the policy repo rate unchanged at 6.50 per cent.
RBI likely to keep policy repo rate unchanged in the next MPC meet: Quantum AMC
Feb 08, 2024, at 04:56 am
Mumbai: The Reserve Bank of India (RBI) is likely to keep the policy repo rate unchanged in the upcoming monetary policy review meet, according to Quantum Asset Management.
Feb 08, 2024, at 04:36 am
Mumbai: The recent measures enacted by the Reserve Bank of India (RBI) concerning Paytm Payments Bank serve the interest of consumers and the broader Indian economy, according to Financial Services Secretary Vivek Joshi.
Amid crisis after RBI restrictions, Paytm founder meets Nirmala Sitharaman
Feb 07, 2024, at 05:20 am
New Delhi: Paytm founder and CEO Vijay Shekhar Sharma on Tuesday met Finance Minister Nirmala Sitharaman amid the crisis in the company's banking arm, following Reserve Bank of India’s (RBI), media reports said, citing sources.
Govt expected to receive $2 billion in dividends from PSBs in next fiscal year
Feb 07, 2024, at 03:43 am
New Delhi: The public sector banks are reporting substantial profits and are likely to produce $2 billion in dividends for the next financial year, starting on April 1, media reports said.
Reasons for RBI's crackdown on Paytm Payments Bank: Report
Feb 03, 2024, at 03:25 am
Mumbai: The Reserve Bank of India (RBI) started a major crackdown on Paytm Payments Bank, citing complete neglect by the company for regulatory standards and compliance requirements, media reports said.
Over 95% of Rs 2,000 currency notes back in banking system: RBI
Feb 02, 2024, at 04:36 am
Mumbai: Over 95 percent of the Rs 2,000 currency notes in circulation as of May 19, 2023, are back in the banking system, the Reserve Bank of India (RBI) said on Thursday.
Jan 31, 2024, at 11:55 pm
The Reserve Bank of India on Wednesday directed Paytm Payments Bank Ltd not to accept deposits or allow credit transactions, or top-ups, in customer accounts or prepaid instruments connected to those accounts after February 29.
Tata Payments gets payment aggregator licence from RBI
Jan 03, 2024, at 04:50 am
Mumbai: The Reserve Bank of India (RBI) has awarded payment aggregator (PA) licence to Tata Payments, media reported.
RBI revises guidelines on dividend issue by banks
Jan 03, 2024, at 04:33 am
Mumbai: The Reserve Bank of India (RBI) Tuesday conducted a review of the guidelines, eligibility criteria, and board oversight related to the declaration of dividends by banks.
RBI's MPC Committee airs concern about trends in food inflation
Dec 23, 2023, at 04:29 am
Mumbai: All the six members of Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) expressed concern over food inflation, and two external members cautioned against the elevated real interest rates as headline inflation nears its 4 percent target, media reports said, citing the minutes of the meeting.
India’s inflation expected to ease to 4.6% in the first three qtrs of next fiscal: RBI Bulletin
Dec 21, 2023, at 05:06 am
Mumbai: India’s inflation is anticipated to ease to 4.6% during the first three quarters of the fiscal year 2024-25 (FY25), according to the Reserve Bank of India's December 2023 bulletin released on Wednesday.
UPI transactions in Dec 2023 touch Rs 17.4 lakh cr: RBI Bulletin
Dec 21, 2023, at 04:48 am
Mumbai: The UPI transactions reached a cumulative value of Rs 17.4 lakh crore in December 2023 according to the Reserve Bank of India's monthly bulletin.
RBI's statistical model predicts India's FY25 GDP growth at 6%
Dec 21, 2023, at 04:35 am
Mumbai: The Reserve Bank of India's statistical model predicts India's GDP growth for the next year (FY25) at 6.0%, which is 50 basis points lower than the central bank's official forecast of 6.5%.
RBI allows digital payment firms Razorpay and Cashfree Payments to function as payment aggregators
Dec 20, 2023, at 04:56 am
Mumbai: Digital payment firms Razorpay and Cashfree Payments have obtained the final approval from the Reserve Bank of India (RBI) to function as payment aggregators, allowing them to onboard new merchants following a nearly one-year regulatory ban, media reports said.
Unclaimed deposits with banks rise 28% YoY to Rs 42,272 cr
Dec 20, 2023, at 03:52 am
New Delhi: There has been a significant 28 percent annual increase in unclaimed deposits held by banks, amounting to Rs 42,270 crore, the government informed the Parliament on Tuesday.
RBI prohibits lenders from investing in AIFs linked to their borrowers
Dec 20, 2023, at 03:20 am
Mumbai: The Reserve Bank of India (RBI) on Tuesday said that entities under its regulation, including banks, non-bank lenders, and home financiers, are prohibited from investing in alternative investment funds (AIFs) that have, either directly or indirectly, invested in companies that have borrowed funds from these lenders.
RBI imposes monetary penalty on five co-operative banks for non-compliance of rules
Dec 15, 2023, at 06:40 pm
Mumbai/UNI: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 14 lakh on five co-operative banks for non-compliance with rules on Friday.
RBI authorises Bandhan Bank to disburse pension on behalf of Indian Railways
Dec 14, 2023, at 06:16 am
Kolkata: Private sector lender Bandhan Bank on Wednesday announced that it has been authorised by the Reserve Bank of India (RBI) for the disbursement of pensions through e-PPOs on behalf of the Ministry of Railways.
PNB urges its customers to update KYC details by mid-December
Dec 09, 2023, at 10:00 pm
New Delhi: Public sector lender Punjab National Bank (PNB) has asked its customers to update their Know Your Customer (KYC) information before December 18 to ensure the smooth functioning of their accounts, an official release said.