Page 103 - Reserve Bank Of India

Flows into NRI deposits double Y-o-Y to $6.11 billion in April-October 23

Flows into Foreign Currency Non-Resident (FCNR) moved back to positive territory with $2.06 billion in April-October 2023 as against an outflow of $814 million in the same period of 2022

Reserve Bank explores stringent measures to combat illegal forex trading

The RBI has compiled an alert list comprising 75 entities, including unauthorised platforms and websites involved in unauthorised forex transactions

Compliance costs may spur fintech sector consolidation: Industry experts

The minimum cost of compliance has nearly doubled over the past year, say companies

Kotak Mahindra Bank shareholders approve Vaswani's appointment as MD & CEO

Reserve Bank of India cleared Vaswani's appointment as MD & CEO of the bank for a period of three years with the effect from the date of taking charge, which should not be later than 1 January 2024

Bank held liable for employee oversight

The State Commission concluded that the bank officials had evidently been negligent in failing to compare the signature prior to making payment

Bank frauds increase, private sector lenders make more write-offs

Private banks in FY23 accounted for 74% of amounts written off due to fraud

MPC members voice concern over food inflation trajectory, show minutes

External members flag high real interest rates

No silver lining to RBI's cloud

There is no evidence to suggest that a state-run cloud server business would do a better job, with at least two reports of UPI-related data leaks having emerged in the last two years

Forex reserves jump by $9.11 bn to $615.97 bn for week ending Dec 15: RBI

In October 2021, the country's forex kitty reached an all-time high of $645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee

Last date to apply for new Sovereign Gold Bond (SGB) tranche today: Details

The bonds can be bought through agents or receiving officers (ROs), and applications must be submitted to branches during the weeks of subscription

Allocate 20-30% to long-duration debt funds, enter with 6 to 8 years period

Even when investing solely for capital gains, stay flexible and extend investment horizon if required

Awaiting clearance on PA license, fintechs diversify into credit offerings

Meanwhile, other payment majors awaiting a decision expect to receive a nod in the first half of the next year

As RBI tightens rules, Piramal to set aside funds for AIF exposure

As per the RBI's direction, regulated entities must liquidate their investments in AIFs within 30 days should the fund invest in an existing borrower

Piramal Enterprises to adjust Rs 3,164 cr exposure to AIF in its financials

Move follows RBI directive limiting investments in AIFs to curb evergreening

RBI predominantly net buyer of US Dollar over past decade in spot market

In the current financial year, the central bank has net bought $1.7 trillion as of October

Fintech startup EnKash gets RBI nod to operate as payment aggregator

After receiving RBI's nod to operate as payment aggregator, EnKash said that it is now poised to bring further innovation to the B2B payment business

Inflation to ease to 4.6% in the first three quarters of 2024-25: RBI

The RBI bulletin released on Wednesday said that global growth continues to remain fragile and may slow down further in 2024

Unclaimed deposits with banks rise by 28% to Rs 42,270 crore in FY23: Govt

There has been a 28 per cent annual increase in unclaimed deposits with the banks to Rs 42,270 crore as on March 2023, Parliament was informed on Tuesday. As compared to Rs 32,934 crore unclaimed deposits with public and private sector banks in FY22, the amount increased to Rs 42,272 crore at the end of March 2023, an increase of 28 per cent. As much as Rs 36,185 crore unclaimed deposits were with public sector banks while Rs 6,087 crore were with private sector banks at the end of March 2023. Banks send unclaimed deposits of account holders lying in their accounts for 10 or more years to RBI's Depositor Education and Awareness (DEA) Fund. RBI has taken various steps to reduce the quantum of unclaimed deposits and return such deposits to rightful claimants, Minister of State for Finance Bhagwat K Karad said in a written reply to Rajya Sabha. As per the RBI's direction, banks have been advised to display the list of unclaimed deposits in accounts that are inactive or inoperative fo

RBI tightens norms to check evergreening of loans by lenders through AIFs

This includes companies in which lenders have current exposure such as an investment or a loan or in the past 12 months, the Reserve Bank of India (RBI) said

Govt lashes out at IMF for saying currency intervention excessive

As a result, the IMF reclassified India's foreign-exchange regime to a "stabilized arrangement" from a "floating" system, it said in its annual Article IV country report released on Monday