Page 416 - Finance News

What is KYC and why is it mandatory to avail many financial services?

The RBI imposed a fine of Rs 93 lakh on a major private lender last week for rules violations -- including that of Know Your Customer or KYC. But what is KYC? Here is some insight

Will fintech firms' governance standards, role of PEs attract scrutiny?

Fintech promoters, their private equity backers, and regulated entities that have teamed up with new-age firms will need to go back to the drawing board

Monetary policy: RBI to revisit KYC rules after digital lending fraud

RBI Governor Shaktikanta Das said the RBI actions on KYC rules have to be in consonance with the Prevention of Money Laundering Act (PMLA)

Pressure building on banks to raise lending rates, albeit gradually

Real action only after policy rate revision

RBI monetary policy review: FY23 inflation projections raised to 5.7%

The projection on inflation is based on the assumption of international crude oil prices of the Indian basket remaining at $100 billion a barrel

Inflation expectation, consumer confidence rise, says RBI survey

'For a majority of population and age groups, uncertainty in inflation expectations increased for both three-month and one-year horizons, as compared to the previous survey round' the RBI said

RBI imposes penalties of Rs 93 lakh each on Axis and IDBI Bank

A monetary penalty of Rs 93 lakh has been imposed on Axis Bank for non-compliance of certain directions issued by RBI, the regulator said in a release

RBI monetary policy review: Revised HTM cap to aid govt borrowing

It is also expected to help in softening the blow from hardening bond yields, bankers and analysts said

Monetary policy review: We want to withdraw ultra-accommodation, says RBI

We are watchful and the situation is dynamic and fast changing and all our actions will be tailored accordingly, says Shaktikanta Das

Monetary policy review: Soon, withdraw cash from any ATM using UPI

This is expected to enhance ease of transactions and eliminate frauds at the same time

Monetary policy: RBI shifts gaze to inflation from growth after 2 years

Sets stage for rate hikes after June policy amid high oil prices, yields

Mapping India's digital transactions: Cashless, but still card dependent

UPI transactions grew faster than credit or debit card transactions, but growth in average transaction size was still considerably lower than debit and credit card usage

Low interest rate on home loans to boost housing sales, say realtors

Harsh Patodia, president of realtors' body CREDAI, said the RBI's decision of keeping the repo rate unchanged at the historic low of 4% will bring economic development and growth in the country

Policy review pragmatic, indicates RBI's concerns on inflation: Bankers

Industry lobby grouping Indian Bank Association's chairman and state-run Punjab National Bank's chief executive and managing director A K Goel sad the moves indicate RBI's "concern on prices"

RBI monetary policy signals change in stance for June 2022

Next RBI monetary policy stance likely to be followed by shallow rate hike cycle, with the repo rate being increased by 25 bps each in August and September 2022.

RBI policy highlights: Prioritising inflation over growth, says Das

RBI Monetary policy updates: As expected by market participants, RBI retained status quo on key interest rates. Governor Shaktikanta Das said. "Approach needs to cautious, but proactive". Stay tu

RBI monetary policy review: Clear sign that happy days are over

The monetary policy committee (MPC) has sprung some surprises even though the repo rate has been kept unchanged.

Anonymity in CBDC payments may mostly be same as cash payments: RBI Dy Guv

T Rabi Sankar said it will have to be decided whether achieving anonymity of transactions can be done using technology or the law

Reserve Bank of India nod to banks to open digital banking units

The banking regulator has mandated minimum products and services that banks must offer in these DBUs

RBI imposes curbs on Shushruti Souharda Sahakara Bank Niyamita

The directions shall remain in force for a period of six months from the close of business on April 7, 2022, and are subject to review, the Reserve Bank said in a statement