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RBI asks REs to conduct internal risk assessments for terror financing

There is always a likely exposure to elevated ML, TF, and PF risks in an ever-changing business environment and the increasing level of complexities in banking and financial products

RBI asks asset reconstruction firms to standardise credit bureau reporting

The Reserve Bank of India has been publicly asking supervised entities to ensure compliance with norms and that consumer interest is protected

RBI asks ARCs to become members of all credit information companies

ARCs are also asked to rectify the rejected data received from CICs and upload the same with the CICs within seven days of receiving such data

RBI asks banks to use info from all relevant sources for risk assessment

The Reserve Bank of India on Thursday asked banks, NBFCs, and other entities regulated by it to use information obtained from all relevant internal and external sources for their risk assessment exercise. Reserve Bank's Regulated entities (REs) have to carry out Money Laundering and Terrorist Financing Risk Assessment' exercise periodically to identify, assess and take effective measures to mitigate their Money Laundering (ML), Terrorist Financing (TF) and Proliferation Financing (PF) risks for clients, countries or geographic areas, products, services, and transactions or delivery channels. In this regard, the central bank has issued 'The Internal Risk Assessment Guidance for Money Laundering/ Terrorist Financing' for the REs, particularly for the dealing staff and the Anti-Money Laundering (AML)/ Countering Financing of Terrorism (CFT) / Counter Proliferation Financing (CPF) practitioners of the REs. It specifies key principles for an internal risk assessment (IRA) exercise. "The

RBI keeps rate unchanged: What does this mean for borrowers, savers, and investors?

The Reserve Bank of India (RBI) has once again kept the repo rate unchanged at 6.5% during its October 9 meeting. This marks the tenth consecutive time it has held the rate steady.

Spending Boost: Soon, pay up to Rs 1,000 without entering PIN on UPI Lite

The daily transactions on UPI crossed 501 million in September, the highest ever since UPI turned operational

Consumer confidence improves in Sept on better economic conditions: RBI

Price and inflationary pressures eased across all product groups

Lenders not allowed to levy foreclosure charges on MSEs, says RBI

Analysts said that the implementation of the norms will negatively impact the income of these lenders while increasing pre-payment of loans and balance transfers

RBI MPC meet: Repo rate unchanged at 6.5%

The Monetary Policy Committee of the Reserve Bank of India on Wednesday has kept the repo rate unchanged at 6.5 per cent for the tenth consecutive meeting, with a majority vote of 5-1.

Market Close Highlights, Oct 9: Sensex sheds 167pts, Nifty nears 25k; RBI MPC holds rates at 6.5%

Stock Market Today: GIFT Nifty futures indicated a slightly positive bias for markets at open today.

RBI misses chance to up housing demand by keeping repo rate steady: Credai

Realtors' apex body Credai on Wednesday said the RBI should have cut key interest rates to boost housing demand during the current festive season and demanded that the apex bank must consider lowering the repo rate in the next meeting. The Reserve Bank of India (RBI) kept its key interest rate unchanged on Wednesday but took the first step towards a rate cut as it eased its relatively hawkish policy stance to 'neutral'. Credai National President Boman Irani said, "As RBI remains cautious regarding potential inflationary pressures, the central bank's decision to keep the repo rate unchanged at 6.5 per cent - albeit with a revised neutral stance - seems somewhat like a missed opportunity, especially with the festive season around the corner". A rate cut at this juncture would have provided the ideal boost to accelerate consumer demand across industries, he added. Irani expects the central bank to cut rates in the next quarter. Realtors' body Naredco President G Hari Babu suggested t

RBI MPC highlights: Inflation expected to remain elevated during September, October, says Das

RBI Monetary Policy Meeting October 2024 highlights: Catch all the latest news updates on RBI's monetary policy announcements here

RBI MPC changes stance to neutral; keeps repo rate unchanged at 6.5%

MPC to 'remain unambiguously focused' on a durable alignment of inflation with the target, while supporting growth

RBI ups UPI Lite limit for smooth payment transactions: Check revised caps

During the RBI MPC announcement, Shaktikanta Das announced increased UPI transaction limits for UPI123Pay and UPI Lite wallet, a move aimed at boosting UPI adoption

RBI moves closer to interest rate cut after global easing kicks off

Since last rate decision, official data showed economic growth moderated to 6.7 per cent in the April-June quarter, below the RBI's projection of 7.1 per cent, while signs show soft urban consumption

RBI draft proposals on aligning businesses may impact private banks

The list include HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Federal Bank

RBI, Maldives monetary authority sign $400 million currency swap agreement

This arrangement will remain in effect until June 18, 2027

RBI to be less hawkish at October policy, says DBS Bank economist

Meanwhile, the recent escalation in tensions in the Middle East is being watched, Rao said, but they are unlikely to impact foreign investments into Indian government bonds

Rupee remains unchanged as RBI's firm grip on currency limit losses

The rupee closed at 83.9775 against the US dollar, little changed from its previous close of 83.9725

Bond bulls bet on RBI's dovish turn to extend rally amid policy shift

While interest-rate swaps are pricing a rate cut only in December, traders are girding for a possible shift in the RBI's stance to neutral