Page 86 - Latest Updates on Reserve Bank of India
Amazon Pay to ramp up Smart Stores service partnership to 150 brands
The company has launched 18,000 Smart Stores in India since its inception in 2019
 "Amazon Pay to ramp up Smart Stores service partnership to 150 brands")
Google Play billing system comes under RBI scanner over alleged violations
The complaint pertains to the operation of several of Google's aggregator platforms in India, which are registered in foreign countries, including Singapore and the US
 "Google Play billing system comes under RBI scanner over alleged violations")
Bank direct lending to NBFCs to moderate at Rs 1.7-1.9 trn in FY25: ICRA
That's because of the recent rise in risk weights by the Reserve Bank of India for NBFC exposures
 "Bank direct lending to NBFCs to moderate at Rs 1.7-1.9 trn in FY25: ICRA")
Paytm UPI: Transactions decline to continue till new customers added
The Reserve Bank of India had mandated Paytm to shift existing users to a new handle after the Paytm Payments Bank was asked to stop transactions after 15 March
 "Paytm UPI: Transactions decline to continue till new customers added")
Growing fast, fintech needs a way to keep watch on itself
Global banking generated $6.5 trn as revenue in 2022: Fintech had 5% of the same. But by 2028, fintech revenues are expected to grow three times faster
 "Growing fast, fintech needs a way to keep watch on itself")
How the RBI is minting a new nationwide currency logistics framework
RBI issues, manages currency through 19 offices, currency chests, small coin depots
 "How the RBI is minting a new nationwide currency logistics framework")
RBI conducts 3 VRR auctions in a day as overnight rates go past MSF rate
The weighted average money market rate closed at 6.77 per cent on Friday, compared to 6.73 per cent on Thursday. The MSF rate currently stands at 6.75 per cent
 "RBI conducts 3 VRR auctions in a day as overnight rates go past MSF rate")
Amid record forex reserves, rupee hits new closing low of Rs 83.43
RBI intervention not seen; Delivery of $/Re swap boosts reserves
 "Amid record forex reserves, rupee hits new closing low of Rs 83.43")
RBI offices, bank branches for govt biz to stay open on Mar 30& 31
Special clearing operations for cheques
 "RBI offices, bank branches for govt biz to stay open on Mar 30& 31")
India's forex kitty rises by $6.40 billion to $642.50 billion: RBI data
In the previous reporting week, the overall reserves had risen by USD 10.47 billion to USD 636.095 billion
 "India's forex kitty rises by $6.40 billion to $642.50 billion: RBI data")
RBI offices dealing with govt business to remain open on March 30, 31
In order to facilitate government receipts and payments, necessary arrangements have also been made to conduct special clearing operations across the country, it added
 "RBI offices dealing with govt business to remain open on March 30, 31")
Cibil score: How it tracks your credit history, how to improve your record
Reserve Bank of India has mandated all banks to check customers' credit scores for loan or credit card applications.
 "Cibil score: How it tracks your credit history, how to improve your record")
SROs must promote a culture of compliance among members, says RBI
The membership criteria of the SRO would be as prescribed by RBI at the time of inviting the application for each category/class of REs
Consumers may struggle in disputes with digital platforms: RBI dy governor
Platforms provide 'immense benefits' but the risk of misuse and fraud increases, says Swaminathan J
 "Consumers may struggle in disputes with digital platforms: RBI dy governor")
Facing problems in closing your Paytm FASTag account? Here's how to do it
After the RBI's ban on PPBL from onboarding new clients and its wallet services, customers have complained of issues in closing their PPBL-linked FASTag accounts
 "Facing problems in closing your Paytm FASTag account? Here's how to do it")
RBI declines request to classify HDFC Ltd bonds as infrastructure bonds
HDFC bank had sought the RBI's approval to classify bonds with maturities between 7-10 years, worth around Rs 1.2 trillion, as infrastructure bonds
 "RBI declines request to classify HDFC Ltd bonds as infrastructure bonds")
Loan distribution by FACE members rise by 12.2% to 24.8 mn in Q3FY24
The report added that 12 per cent of loans distributed between April and December 2023 went to women
 "Loan distribution by FACE members rise by 12.2% to 24.8 mn in Q3FY24")
RBI approves re-designation of Manian, Ekambaram of Kotak Mahindra Bank
Kotak Mahindra Bank had announced the reorganisation of its senior management team last month
 "RBI approves re-designation of Manian, Ekambaram of Kotak Mahindra Bank")
Nabard projects Rs 2,43,093 crore credit potential for Bihar in 2024-25
The estimate has been made taking into account the Reserve Bank of India's priority sector-based guidelines
 "Nabard projects Rs 2,43,093 crore credit potential for Bihar in 2024-25")
Inflation still high and focus on minimising risk, says RBI report
Indicates 'significant per capita income shifts' underway