Page 134 - Rbi

Sebi, RBI widen investigation into public debt issue subscriptions: Report

Investigators are also studying if disproportionate loans were given to subscribes and whether customer identification processes were not adequately followed, the sources added

Processing UPI transactions: Paytm's TPAP request awaits bank tie-ups

Need to comply with security, data localisation norms

IIFL Finance's lending partners mull options to grow gold loan book

This follows the Reserve Bank of India's (RBI's) restrictions on non-banking financial companies (NBFCs) from engaging in gold loan business

Monitor end use of funds for business cards, says Reserve Bank of India

No need to approval for co-branded cards

Sebi bars JM Financial from acting as lead manager of debt issue

Shares of JM Financial tanked by 20 per cent following the RBI order on Wednesday. Later, the stock recouped the bulk of the losses

IIFL Finance board to consider fundraise on March 13 after RBI clampdown

IIFL Finance had said that Fairfax India had agreed to invest up to $200 million of liquidity support on terms to be mutually agreed upon and subject to applicable laws and regulations

Explained: RBI's new credit card issuance norms

The RBI has asked both banks and non-banking financial institutions issuing credit cards to offer customers options to select from multiple card networks.

RBI tightens norms for credit, debit cards used with business accounts

Last month, the RBI had ordered Visa to stop using an unauthorized route to make business-to-business card payments which used fintech companies as an intermediary

RBI, Bank Indonesia partner to promote use of local currencies for trade

The Reserve Bank of India and Bank Indonesia (BI) on Thursday signed a Memorandum of Understanding to promote use of local currencies for bilateral transactions. The MoU was signed here for establishing a framework to promote the use of local currencies viz., the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions, RBI said in a statement. This framework would enable exporters and importers to invoice and pay in their respective domestic currencies, which in turn would enable the development of an INR-IDR foreign exchange market. "Use of local currencies would optimise costs and settlement time for transactions," RBI said. The MoU was signed by RBI Governor Shaktikanta Das and Bank Indonesia Governor Perry Warjiyo. "The MoU on establishing a framework for cooperation in the area of cross-border transactions in local currencies between India and Indonesia, aims to promote the use of INR and IDR bilaterally," RBI said. The central bank further said the

RBI, Indonesia's central bank sign agreement for local currency trade

India's second such local currency trade agreement, after one with the UAE

Investors dump NBFC stocks, shift money to banking ones amidst RBI fears

Analysts said investors fear that the surveillance will likely spread throughout the industry, and more might be the targets of the regulator's ire

Indian economy likely to grow close to 8% in FY24, says RBI Governor

RBI governor says 85% Paytm wallet users won't face disruption

Google, Walmart gain fintech users from India as Paytm faces restrictions

Paytm's decline suggests consumers are moving usage to alternative services even before any disruption to its systems

NPCI discusses means to grow UPI ahead december market cap deadline

NPCI owns and operates the Unified Payments Interface (UPI) platform

85% of Paytm wallet users unaffected, rest to link apps to banks: RBI Guv

As many as 80-85 per cent Paytm wallet users will not face any disruption because of regulatory actions, and the remaining users have been advised to link their apps to other banks, RBI Governor Shaktikanta Das said on Wednesday. The Reserve Bank of India on January 31 barred Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in any customer accounts. The deadline for linking the wallet attached with PPBL with other banks has been fixed for March 15, the governor said, ruling out any further extension. The time given up to March 15 is sufficient and there is no need for further extension, he said, adding that 80-85 per cent Paytm wallets are linked to other banks, and the remaining 15 per cent have been advised to move on to other banks. He said that the RBI has taken action against a regulated entity, which in this case is PPBL and has nothing against Fintech companies. Instead, Das stressed that the RBI favours innovation in the financial ...

Annual GDP growth for current FY could be very close to 8%: RBI chief Das

Das said rural demand had been improving and was much stronger than a year ago, while urban demand continued to be very strong

Taking steps to meet RBI's concern: IIFL Fin after ban on giving gold loans

Company has enough liquidity and there is no governance at play, says NBFC's managing director

BSE may buy out S&P Dow Jones Indices' entire 50% stake in joint venture

The move follows a long dispute between the two bourses over exiting the JV, which is responsible for compiling and maintaining popular Sensex and Bankex indices

30 banks join RBI UDGAM to search for recipients of unclaimed deposits

The Reserve Bank on Tuesday said 30 banks are facilitating people to search their unclaimed deposits/accounts through UDGAM portal, and the remaining banks are in the process of getting on-boarded. UDGAM -- Unclaimed Deposits-Gateway to Access inforMation -- is an online portal developed by RBI. It facilitates the registered users to search unclaimed deposits/accounts across multiple banks in one place in a centralised manner. All unclaimed deposits/accounts that are part of the Depositor Education and Awareness (DEA) Fund of RBI can be searched in the UDGAM portal. "As on March 4, 2024, there are 30 banks, which are part of UDGAM portal, and they cover around 90 per cent of unclaimed deposits (in value terms) in DEA Fund of RBI," the central bank said in a set of Frequently Asked Questions on UDGAM portal. A user is required to register on the portal by providing his/her name and mobile number. The portal facilitates only the search of unclaimed deposits/accounts across multiple

RBI bars JM Financial Products from financing against shares, debentures

"This action is necessitated due to certain serious deficiencies observed in respect of loans sanctioned by company for IPO financing as well as NCD subscriptions," RBI said