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'RBI plans tokenisation of assets, bonds under wholesale CBDC pilot'

"On the retail side, its technologies, how systems cope and how people behave are the focus areas. So we are not looking at volumes," Sankar said

Paytm Payments Bank fiasco: Independent directors raised concerns

Red flags were raised on regulatory issues but they may have been late

Reliance Home Finance surrenders certificate of registration to the NHB

There are other nine non-banking finance companies which surrendered the Certificate of Registration (CoR), the RBI said

RBI raises ceiling on remuneration of non-executive directors to Rs 30 lakh

The Reserve Bank on Friday raised the ceiling on remuneration of non-executive directors in private banks to Rs 30 lakh per annum from Rs 20 lakh. In April 2021, the central bank had fixed the ceiling of remuneration at Rs 20 lakh per annum for NEDs (non-executive directors). "Considering the crucial role of NEDs in efficient functioning of bank boards and its various committees and in order to further enable the banks to sufficiently attract qualified competent individuals on their boards, it has been decided to revise the aforementioned ceiling to Rs 30 lakh per annum," it said in a statement. RBI further said the banks are required to have suitable criteria for granting fixed remuneration to its NEDs, with the approval of their boards before any review of the extant remuneration. "The board of the bank may fix a lower amount within the ceiling limit of Rs 30 lakh per annum depending upon the size of the bank, experience of the NED and other relevant factors," it said. The ...

Paytm to form advisory committee on compliance, regulatory matters

The committee will be headed by Meleveetil Damodaran, former chairman of India's markets regulator, and "will work closely with the board," Paytm said in a press release

Foreign exchange reserves rise to one-month high of $622.47 bn: RBI

The reserves rose by $5.74 billion in the reporting week, the biggest rise in nearly two months. Reserves had risen by $590 million in the prior week

Fintech major Paytm set for small win as govt close to approving investment

The RBI in 2022 held back Paytm Payments Services' application to become a so-called payments aggregator - an entity which makes it easier for online retailers and merchants to accept digital payments

Uncharacteristic of NBFCs to seek bank licences: RBI Dy Guv Rajeshwar Rao

Reserve Bank Deputy Governor M Rajeshwar Rao on Friday said it is uncharacteristic of non-bank lenders to seek bank licences when they are already enjoying some regulatory advantages. Addressing a conference on non-bank finance companies (NBFCs) organized by CII, Rao also hit out at certain microlenders for "misusing" the liberty offered by the regulator on interest rates, and charging high rates. Rao also expressed displeasure at certain peer-to-peer lending platforms for following business practices which are not in line with the licensing guidelines, and made it clear that such breaches were not acceptable. He also spoke about the constant demand from NBFCs to convert into banks, and made it clear that regulations for even entities in the top-most tier of NBFCs are not at par with universal banks, and NBFCs enjoy some advantages. "NBFCs have evolved as niche companies serving specific economic functions, and it is uncharacteristic of them to demand becoming like a bank," Rao ...

RBI to meet NHAI, NPCI to discuss rescue plan for Paytm PB users: Report

NPCI oversees the United Payments Interface payments, and NHAI operates the FASTag service

Regulatory action on Paytm Payments Bank, not app, clarifies RBI

The RBI said it would next week come out with a list of frequently asked questions (FAQs) on the Paytm Payments Bank issue

Status quo: Das has promises to keep...

The central theme of the MPC statement reminds one of American poet Robert Frost's Stopping by Woods on a Snowy Evening

Monetary policy: RBI dashes early rate-cut hopes, maintains status quo

RBI says lending rates not hiked enough

Monetary policy: New rules for verification of digital payments on cards

Measures to address frauds in the financial system

Monetary policy review: Key fact statement must for retail, MSME loans

Providing critical information about the terms of the loan agreement, including the all-inclusive interest cost, will significantly benefit borrowers in making informed decisions

RBI policy: Stance in terms of rates, transmission incomplete, says Das

Das had clarified the RBI would try to keep liquidity at a level wherein the overnight call rate, the operating target of the monetary policy, remained around the repo rate

An extended pause

More clarity is needed on the Paytm issue

Bankers laud RBI's step to maintain status quo on rates as balanced policy

Bankers on Thursday welcomed the Reserve Bank of India's decision to maintain status quo on rates as a 'balanced' one which keeps in mind both the inflation challenge as well as the growth needs of the economy. "The Monetary Policy Committee (MPC) decision to hold rates and stance was expected but the set of regulatory decisions holds out a pragmatic and steadfast approach in the quest for digital robustness, customer centricity and price discovery," SBI's chairman Dinesh Khara said. State-owned Indian Bank's chief S L Jain welcomed the policy announcement as a balanced call. "By keeping interest rates unchanged and sticking to its current policy stance, MPC aims to strike a balance between supporting economic growth and managing inflationary pressures. "This approach is essential in navigating the complex and changing global economic landscape, ensuring that the economy remains resilient and adaptable to future challenges," Jain added. Foreign lender Standard Chartered Bank's ..

Land and the problem of inequity

By 2050, India will be the most land-scarce major economy in the world, but any solution first needs to recognise the unequal deployment of land

Govt bonds reverse gains after monetary policy committee outcome

RBI to conduct 14-day variable rate repo auction on Friday

A pragmatic policy

Growth prospects are robust domestically. Key drivers on the demand side, household consumption will improve further, while prospects of fixed investment remain bright