Small Finance Banks can now apply to become universal banks under the on-tap licesning norms: RBI
Mumbai: The Reserve Bank of India (RBI) on Friday said that small finance banks (SFBs) meeting certain criteria can now seek approval from the regulator to transition into universal banks under the on-tap licesning norms.
RBI issues new norms for LSPs to facilitate informed decisions by borrowers
Mumbai: The Reserve Bank of India (RBI) on Friday said that lending service providers (LSPs), operating as representatives of banks should disclose all available loan offers to borrowers to facilitate informed decision-making.
Stock market opens in red, Kotak Mahindra Bank shares plunge 10% on RBI curbs
Mumbai/IBNS: The Indian benchmark indices opened on a negative note on Thursday (Apr 25), following global peers down as a rout in tech stocks dragged the US benchmark indices down after disappointing forecasts by Facebook's parent Meta.
Credit card spending grows 27% YoY to Rs 18.26 trillion in FY24: RBI
Mumbai: Credit card spending increased by 27% year-on-year to Rs 18.26 trillion in the financial year 2023-24 (FY24), up from around Rs 14 trillion in the previous year, according to the latest data from RBI.
PayU gets RBI's in-principle approval to operate as Payment Aggregator
Mumbai: After a wait of nearly 15 months, the Reserve Bank of India (RBI) has granted initial approval to PayU, a fintech firm backed by Prosus, to operate as a Payment Aggregator (PA) and resume the process of onboarding new merchants.
Cred gets RBI's in-principle approval to operate as payment aggregator
Mumbai: Bengaluru headquartered firm Cred, a top third-party app for credit card bill settlements in India, has received in-principle approval from the Reserve Bank of India (RBI) to operate as a payment app, said media reports.
RBI conducts 2-day VRRR auctions as liquidity in banking system nears Rs 1 trillion
Mumbai: The Reserve Bank of India on Tuesday held a two-day variable rate reverse repo (VRRR) auction due to the nearing Rs 1 trillion liquidity surplus in the banking system.
The Reserve Bank of India on Monday (April 15, 2024) directed all banks and regulated entities not to levy additional fees on loans that were not previously disclosed in the Key Fact Statement (KFS).
RBI launches survey of manufacturing companies
Mumbai: The Reserve Bank has started the latest cycle of its quarterly survey on order books, inventories, and capacity utilization of manufacturing firms, which serves as a crucial component for shaping monetary policy.
Paytm Payments Bank MD & CEO Surinder Chawla resigns due to 'personal reasons'
New Delhi: In a fresh development, Paytm Payments Bank’s Managing Director and CEO, Surinder Chawla, has stepped down due to personal reasons, its parent company One97 Communications Limited said in a filing with the stock exchanges.
RBI slaps fines on IDFC First Bank and LIC Housing Finance for non-compliance
Mumbai: The Reserve Bank on Friday said that it has fined IDFC First Bank Rs 1 crore and LIC Housing Finance Rs 49.70 lakh for breaching specific regulations. The penalty on IDFC First Bank was levied due to failure to adhere to certain directives regarding 'Loans and Advances - Statutory and Other Restrictions', according to the central bank’s statement.
RBI keeps repo rate unchanged in line with market expectations
Mumbai: The Reserve Bank of India on Friday kept the key interest rates unchanged at 6.50 percent, in line with the market expectations.
Rupee most stable compared to peers due to strong fundamentals of Indian economy: RBI
New Delhi/UNI: The Indian currency (INR) was the most stable among major currencies during the past three years and this reflects sound economic fundamentals of the Indian economy, says the Reserve Bank of India.
RBI keeps repo rate unchanged at 6.5%, projects 7% growth for FY25
New Delhi/UNI/IBNS: Considering various factors both in the domestic and global markets, the Reserve Bank of India Friday projected 7 percent growth for Indian economy for FY25. RBI governor Shaktikanta Das said after three days of deliberations, the Monetary Policy Committee unanimously decided to keep the key interest rates unchanged at 6.50 per cent.
RBI's 3-day MPC meeting starts
Mumbai: The Reserve Bank of India's Monetary Policy Committee has started its three-day meeting on Wednesday to deliberate on interest rates and analyze the state of the economy.