Page 56 - Subrata Panda

Amid geo-political risks, RBI mulls domestic processing of transactions

In its Payments Vision Document released last week, the RBI said keeping in view the emerging geo-political risks, options would be explored to ring-fence domestic payment systems

RBI extends date for implementing provisions on credit, debit card issuance

Issuers given more time for OTP-based activation, ensuring credit limit is not breached without cardholder's consent

Non-banks not allowed to load credit lines on prepaid wallets, cards: RBI

This circular by the RBI is likely to impact those fintech players who offer credit lines to customers via their wallets in association with non-banking finance players.

In 5 yrs, we'd like to be No. 1 in bancassurance: LIC chairperson MR Kumar

We firmly believe that once the market stabilises, our inherent strength and performance will be recognised

Payments Vision 2025: RBI aims to regulate BigTech, FinTechs, BNPL services

Titled "Payments Vision 2025", this document aims to provide every user safe and affordable e-payment options

Further fall in rupee to hurt students taking loans to study abroad

The rupee has been depreciating sharply ever since tensions broke out between Russia and Ukraine in February

Bank credit growth hits three-year high of 13.1%, shows RBI data

A hike in retail fixed-deposit rates has been much smaller than the lending rate hike. Bulk deposit rates have, however, spiked

Banks' gross NPA drop below 6% in March 2022, lowest in six years

Health of the sector is encouraging: Deputy guv

RBI lifts restrictions on Mastercard over onboarding new customers

The central bank had barred the US-based payment gateway from onboarding new customers until it complies with Storage of Payment System Data norms

Early assessment of banking sector health encouraging: RBI deputy guv

"The asset quality of banks has improved and the gross NPAs and net NPAs of the banks have improved from the pre-pandemic levels," Rao said

SBI raises lending rates, HDFC Bank and BoB increase deposit rates

Moves follow RBI's 90-bp repo rate increase in a little over a month

SBI and IDBI Bank join trend, raise their interest rates on deposits

Interest rates on retail term deposits (below Rs 2 crore) of 211 days to less than one-year tenor have been increased by 20 bps to 4.6 per cent. It was 4.4 per cent earlier

SBI joins industry trend, hikes interest rates on retail and bulk deposits

The hike in deposit rates follows the rate action by Reserve Bank of India's (RBI) Monetary Policy Committee in the June monetary policy

Go Digit promoters Watsa, Goyal seek regulatory nod for reinsurance biz

Currently, India has one domestic reinsurance company, the state-owned General Insurance Corporation (GIC Re)

RBI's regulation review authority moots periodic review of existing rules

Also suggests that regulatory instructions should contain a statement of objective underlying the rationale for their issuance, supplemented with FAQs/guidance notes and illustrations

Failed auto-debit requests ease to a 38-month low in May, shows NACH data

'Improving bounce-rate trajectory suggests slippages, credit cost will descend in FY23'

How credit card route to UPI may come at a price for merchants

Smaller merchants can be subsidised to make it work

Credit card linkage to UPI: Uncertainty over pricing leaves players in dark

There is no clarity on whether linking to UPI facility will be extended to credit cards of other card networks, such as Visa, Mastercard, American Express, etc

Now, life insurers can introduce products without Irdai's prior approval

Currently, all life insurance products and riders require prior approval of the insurance regulator before launch

Over 4.5-million IPO mandates created via UPI in May, shows data

In May, 4.5 million IPO mandates were created through UPI and a record 2.4 million mandates got executed, data shows