Union Minister Nirmala Sitharaman said there are many ponzi apps on which we're working with concerned ministry and RBI and clamping down on them like never before.
The Reserve Bank of India (RBI) has approved 60 requests to open Special Rupee Vostro Accounts (SRVAs) of correspondent banks from 18 countries, including the UK, Singapore, and New Zealand.
Reserve Bank of India (RBI) issued preliminary regulations proposing to prohibit the capitalisation of penal charges and additional interest levied by banks on customers for loan defaults, in an effort to standardise different lending practises.
The Reserve Bank of India (RBI) has announced the launch of a new centralised web portal to search for unclaimed deposits that are more than ten years old.
The Governor also informed that overall inflation is above the target and the current policy rate still remains accommodative.
Benchmark Interest Rate: RBI is expected to hike the benchmark interest rate by 25 bps to bring down retail inflation and keep pace with global peers.
Since May last year, the RBI has raised the repo rate by 250 basis points as a measure to combat the escalation of inflation.
RBI governor Shaktikanta Das cautioned banks against any build-up of asset-liability mismatches and asserted that both are detrimental to financial stability.
The Reserve Bank of India has allowed banks from 18 countries to open Special Vostro Rupee Accounts (SVRAs) for settling payments in Indian rupees. This decision is expected to boost India's exports and help avoid wartime international sanctions.
The Reserve Bank of India's Governor, Shaktikanta Das, announced at the launch of the Digital Payments Awareness Week that UPI transactions have increased by 50% YoY, with over 36 crore transactions in February 2023
Reserve Bank of India Governor, Shaktikanta Das, launched the "Har Payment Digital" mission as part of Digital Payments Awareness Week 2023. The goal of the mission is to make every Indian citizen a user of digital payments.
Raghuram Rajan said he's worried that earlier we would be lucky if we hit 5 per cent growth. The latest October-December Indian GDP numbers (4.4 per cent on year ago and 1 per cent relative to the previous quarter) suggest slowing growth from the heady numbers in the first half of the year.
Amazon Pay is the digital payment arm of e-commerce giant Amazon.
Bank holidays in March 2023: Check out the complete list of bank holidays in March 2023, and make sure to plan your transactions ahead of time to avoid any delays.
Customers of HCBL Co-operative Bank, Lucknow; Adarsh Mahila Nagari Sahakari Bank Maryadit, Aurangabad; and Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District in Karnataka cannot withdraw funds from their accounts due to their current liquidity position.
The RBI has launched the UPI payment facility for foreign visitors to India, initially available at select international airports. Inbound travelers will receive PPI wallets linked to UPI to make local payments, with plans to expand this service to other airports and cities soon.
The RBI said that the eligible travellers would be issued Prepaid Payment Instruments (PPI) wallets linked to UPI for making payments at merchant outlets.
India's central bank, the Reserve Bank of India (RBI), has released draft guidelines for minimum capital requirements for market risk in a move to align banking regulations with Basel III standards.
RBI increased the Repo Rate by 25 basis points on February 8, prompting many banks to raise interest rates on personal, car, and home loans.
RBI introduces changes to NEFT and RTGS systems for FCRA related transactions following the Home Ministry's mandate for SBI to report all donor details. SBI must capture donor details and report them daily to MHA, while other banks must make necessary changes by March 15, 2023.
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