Page 156 - Reserve Bank Of India

Fino Payments discussing SFB transition internally: MD & CEO Rishi Gupta

Transitioning from a business correspondent to a payments bank five years back, profit making Fino Payments Bank looks for a further upgrade to a small finance bank with internal discussions underway, bank's chief Rishi Gupta said. The bank will approach the Reserve Bank of India (RBI) for a small finance bank licence at an appropriate time, Gupta, Managing Director and Chief Executive Officer, Fino Payments Bank said. RBI guidelines stipulate that a payments bank more than five years old can apply for a licence for a small finance bank (SFB), Gupta said. "So the natural migration for Fino from a banking licence point of view will be into a small finance bank. We have started to offer credit in partnerships with other players. We are also building a large customer and merchant base, which will come handy as we decide on SFB. "Having said that, right now we are internalising it. And once we close that communication and we believe that it is the right path or approach, then we will .

Aditya Birla Capital joins race to acquire life insurer Reliance Nippon

Reliance Capital holds 51 per cent stake in RNLIC and Nippon Life of Japan the rest

Inflation will not come below RBI's tolerance level in FY23: IMF's Choueiri

India relative bright spot in the world; 6.8 per cent growth rate 'really a good number': Senior executive

Cracking the whip on co-op banks: A look at RBI actions in 2022 so far

Here is a look at the RBI actions on co-op banks in 2022 so far.

SAT gives relief to Brickwork Ratings, stays cancellation of licence

But keeps Sebi ban on taking up new clients

India to be among fastest growing economies despite global challenges: RBI

India is expected to be among the fastest growing major economies this fiscal, geopolitical turbulence notwithstanding, RBI Governor Shaktikanta Das opined at last month's meeting of the rate setting panel MPC while going with the majority to raise the repo rate by 50 basis points to tame inflation. On September 30, the six-member Monetary Policy Committee (MPC), headed by Das, had raised the short-term lending rate for the third consecutive time by 50 basis points to take the repo rate to 5.9 per cent. In May, the repo rate was hiked by 40 basis points. Except for Ashima Goyal, who favoured a 35 basis points hike, the other five members had voted for 50 basis points increase in the repo rate. As per the minutes of the MPC meeting released by the RBI on Friday, Governor Das had said that economic activity was steadily improving, though there were mixed signals. "While high frequency indicators are showing continued momentum in activity, global factors are putting pressure on extern

RBI's repo rate hike was necessary to combat inflation risks: MPC minutes

The MPC is of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored

After RBI missive, FIDC asks NBFCs to revise codes of conduct

Has asked them to insert penalty cause for repeated breaches

RBI norms on unhedged Fx exposure unlikely to impact banks much

In June, the RBI had said that of the outstanding ECBs of $180 billion, 44 per cent was unhedged

India Inc's fundraising from overseas sinks to 76-qtr low in Q2: Data

Fund raise drops by 93.3% year-on-year to $210 mn in the quarter

Stagger entry into longer-duration funds over next six months: Experts

To stay safe, keep bulk of portfolio in shorter-duration or target maturity funds

As MPC fails on CPI mandate, RBI's growth-inflation balance gets trickier

The central bank will now have to provide a report to the government explaining the reasons for the failure and the steps to be taken

Bengaluru fourth most expensive real estate market in India: Knight Frank

Bengaluru's affordable housing market has become more costly due to the 50 bps hike in the repo rate by the RBI

India's inflation at 7.4%; What are inflation numbers in other countries?

Since the start of the Russia-Ukraine war in February, almost all the economies have been facing high inflation mainly driven by high commodity costs, and supply chain constraints

RBI asks banks to stop building positions in offshore market: Report

The build-up of positions in this segment of the market is forcing the RBI to spend more reserves to defend the rupee

RBI's revised ARC norms improve governance; may shake up industry

Three players -- JM Financial ARC, Edelweiss ARC, and ARCIL -- have a dominant presence in the sector with a sound capital base and management bandwidth

Digital rupee likely to bring down cost of cross-border payments

The introduction of CBDC for cross-border remittances can bring down costs substantially

RBI to submit report on failure to tackle inflation for 3 qtrs since Jan

With inflation staying above the upper tolerance limit for nine straight months, the Reserve Bank will now have to submit a report to the central government detailing reasons for the failure to contain prices and remedial steps to rein in the price rise. The Reserve Bank of India Act mandates that in the case of the inflation target not being met for three consecutive quarters, the central bank has to submit a report to the government explaining the reasons and detail the remedial actions it will be taking to check the price rise. This will be the first time since the onset of the Monetary Policy Framework which came into effect in 2016 that the RBI will be made to explain its actions in a report to the government. As per the mandate given to the Reserve Bank by the Union Government, the central bank is required to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side. Now, the Secretary to the MPC, which factors in retail inflation while arriving

RBI's revised ARC norms: Aircel, RCom debt resolution faces uncertainty

Reliance Communications, then owned by Anil Ambani, had to shut down its business operations as a result of its high debt burden and a failed merger with Aircel

Rising clout: Which countries have adopted NPCI-backed UPI payments so far

With Europe being the latest addition to the list, several countries across the globe are adopting UPI for P2P, P2M and cross-border payments