Page 124 - Rbi

Lenders request RBI approval to sell Jaiprakash Associates loan to NARCL

SBI-led lenders are pursuing RBI clearance to shift real estate firm's Rs 18,000 crore debt to NARCL in a Rs 10,000 crore deal

Groww & Worldline join growing club of India's online payment aggregators

This year, major players such as Amazon Pay, Digio, CCAvenue, Decentro, MSwipe, Tata Pay, Zoho, Zomato, among others, received a final nod from the regulator to operate as payment aggregators

Bank credit to industry up 8.5% in March; moderation in personal loans: RBI

Bank credit to industry grew by 8.5 per cent annually in March while there was moderation in the personal loans segment, as per Reserve Bank data released on Tuesday. The growth in credit to industry and personal loans segment in March 2023 was 5.6 per cent and 21 per cent, respectively. "Among major industries, growth in credit (year-on-year) to 'chemicals and chemical products', 'food processing', and 'infrastructure' accelerated in March 2024 as compared with the corresponding month of the previous year, while that to 'basic metal and metal products' moderated," the RBI said. Credit growth to agriculture and allied activities was robust at 20.1 per cent in March 2024 (15.4 per cent a year ago), according to the data on 'Sectoral Deployment of Bank Credit -- March 2024'. Personal loans growth moderated to 17.7 per cent in March 2024 (21 per cent a year ago) due to decelerated growth in vehicle loans and other personal loans, it said. Further, credit growth to services sector ...

RBI issues guidance note on operational risk management, resilience

The RBI said all REs must perform a risk assessment and due diligence before entering into any arrangements with third parties or external entities

Worldline ePayments India gets RBI nod to operate as payment aggregator

Last week, the RBI had given an in-principle approval to Prosus-backed PayU to operate as a payment aggregator

India's gold demand rises 8% in Jan-Mar to 136.6 tonne despite high rate

India's gold demand rose 8 per cent annually to 136.6 tonne in the March quarter helped by a strong economic environment despite prices touching historic highs, according to the World Gold Council. The aggressive gold buying by the Reserve Bank of India (RBI) also contributed to the rise in demand. India's gold demand in value terms rose 20 per cent on an annual basis to Rs 75,470 crore during the January-March period of this year on volume growth as well as a rise in quarterly average prices by 11 per cent. On Tuesday, the World Gold Council (WGC) released its global report 'Gold Demand Trends Q1 2024', showing that India's total gold demand, including both jewellery and investment, increased to 136.6 tonne in January-March this year from 126.3 tonne in the year-ago period. Out of the total gold demand, the jewellery demand in India increased 4 per cent to 95.5 tonne from 91.9 tonne. The total investment demand (in the form of bar, coin among others) grew 19 per cent to 41.1 tonne

Explained: How banks might have been overcharging you on your loan

The RBI found some banks charging customers interest on loans before the money was even given to them.

RBI issues draft master direction for electronic trading platforms

In October 2018, the RBI had introduced a framework for the authorisation of Electronic Trading Platforms to facilitate transactions in financial market instruments under its regulation

RBI cancels Acemoney (India's) NBFC licence citing violation of guidelines

The development follows a series of actions on other players in the industry on account of non-compliance

RBI directs lenders to review loan disbursal, interest related practices

"These are matters of serious concern to the Reserve Bank," it said, asking lenders to take corrective action "including system level changes"

AU Small Finance Bank eligible for universal banking licence application

AU Small Finance Bank has recorded profits for the previous two fiscal years, and maintained gross and net non-performing assets below 3% and 1%, respectively, as mandated by the RBI

Monetary policy expectations impact stocks more than rate moves: RBI paper

Equity markets are impacted more by the expectations of future monetary policy than the policy rate surprises on the day of announcement of the policy by the Reserve Bank, said an analysis. According to a working paper prepared by RBI officials, the regulatory and development measures which are announced along with the monetary policy too impact the stock markets. "...equity markets are affected more by the changes in the market's expectations of future monetary policy (path factor) than the policy rate surprise (target factor) which is in agreement with the conventional thinking that equity markets are forward-looking," the paper said. The volatility in equity markets on the day of policy announcement, it said, "is affected by both target and path factors, as markets digest the policy announcements and traders adjust their portfolios throughout the day". RBI Working Paper on 'Equity Markets and Monetary Policy Surprises' is prepared by Mayank Gupta, Amit Pawar, Satyam Kumar, ...

Street Signs: SFBs dive into universal banking waters, Sebi's blank canvas

SFBs will remain in focus in Monday's trade after the RBI issued guidelines for their conversion into universal banks

FPI limit in G-sec unchanged at 6% of outstanding stocks of securities: RBI

The Reserve Bank on Friday said the limits for FPI investment in government securities, state development loans and corporate bonds will remain unchanged at 6 per cent, 2 per cent and 15 per cent, respectively, of outstanding stocks of securities for the current fiscal. As of now, all investments by eligible investors in the 'specified securities' will be reckoned under the fully accessible route (FAR), the RBI said in a notification. "The limits for FPI investment in government securities (g-secs), state government securities (SGSs) and corporate bonds shall remain unchanged at 6 per cent, 2 per cent and 15 per cent, respectively, of the outstanding stocks of securities for 2024-25," it said. The allocation of incremental changes in the g-sec limit (in absolute terms) over the two sub-categories 'General' and 'Long-term' will be retained at 50:50 for 2024-25, it added. The entire increase in limits for SDLs (in absolute terms) has been added to the general sub-category of state

RBI invites pleas from eligible SFBs to become regular, universal banks

Reserve Bank of India on Friday invited applications from small finance banks meeting specified criteria, including a minimum net worth of Rs 1,000 crore, for becoming regular or universal banks. The RBI, in November 2014, issued the guidelines for licensing of small finance banks (SFBs) in the private sector. There are about a dozen SFBs, including Au Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank. An SFB aiming to become a universal bank should have a minimum net worth of Rs 1,000 crore as at the end of the previous quarter (audited) and the shares of the bank should have been listed on a recognised stock exchange, the central bank said. It should also have a net profit in the last two financial years and GNPA and NNPA of less than or equal to 3 per cent and 1 per cent, respectively, in the last two financial years. Other conditions include a prescribed CRAR (capital-to-risk weighted assets ratio) requirement and a satisfactory track record of ...

Capex push by govt to propel GDP growth between 7.1-7.4% in FY25: NIPFP

However, the review by the NIPFP also listed compression in the government consumption expenditure and a subdued growth in private consumption as downward risks to the forecast

RBI releases draft guidelines for web aggregators of loan products

While LSP can adopt any mechanism to ascertain the willingness of the lenders to offer a loan, the RBI said it should follow a "consistent approach" that must be disclosed suitably on their website

RBI directs TalkCharge to return funds in PPI- wallets to consumers

TalkCharge had issued a legal notice to its customers demanding the return of cashback while threatening them that failure to do so would result in the matter being reported to the RBI

Fintech players likely to request RBI for a simpler merchant KYC process

It has proposed that payment aggregators will be required to undertake Contact Point Verification (CPV) of entities which involves physical verification of customers

Kotak Mahindra Bank's loan, deposit growth may be impacted after RBI curbs

The regulator put restrictions on the bank citing gaps in the IT systems which the lender failed to address