Page 54 - Reserve Bank Of India

SFBs ready with systems, governance to become universal banks: MDs & CEOs

One major benefit of becoming a universal bank is that public perception will change

Banks to continue good run with caution and innovation, say PSB CEOs

The economy is very strong and on sound footing and we, as banks, typically mirror the economy

Reserve Bank of India action does not imply systemic risk, say NBFC chiefs

RBI's punitive actions over the last year have encompassed both banks and non-banks

RBI tightens norms for imposing penalty under payment systems law

The Reserve Bank on Thursday tightened norms for imposing monetary penalties and compounding offences under the Payment and Settlement Systems Act (PSS Act) to rationalise and consolidate enforcement action by the central bank. As per the revised framework for payment system operators and Banks, operation of a payment system without authorisation, disclosure of information, which is prohibited, and failure to pay the penalty imposed by the Reserve Bank within the stipulated period are among the contraventions under the PSS Act. "(The) Reserve Bank is empowered to impose a penalty not exceeding Rs 10 lakh or twice the amount involved in such contravention or default where such amount is quantifiable, whichever is more, in case of contraventions/defaults...," said the 'Framework for imposing monetary penalty and compounding of offences under the Payment and Settlement Systems Act, 2007'. Earlier, the RBI was empowered to impose a penalty not exceeding Rs 5 lakh. The amount was raised

Bank holidays in February 2025: Banks to remain closed on these days

A list of bank holidays in February 2025 has been released by the Reserve Bank of India (RBI). Due to regional festivals, banks will be closed for 14 days next month

Banks, importers seen lapping up India central bank's $5 billion FX swap

Central bank will conduct a 6-month dollar/rupee buy-sell swap, one of its many planned measures aimed at injecting liquidity worth about Rs 1.5 trillion ($17.33 billion) into the banking system

Reserve Bank of India's $5 billion swap shakes up rupee and bond markets

Forward premiums dip, rupee slides, and bond yields fluctuate

Experts see change of tack in Reserve Bank of India's liquidity handling

They say central bank is focused on durable relief rather than ad hoc support

RBI must come out with road map for NBFCs to become banks: Umesh Revankar

As and when the RBI comes out with a roadmap, we will relook at the way we do business and make the necessary changes, Umesh Revankar, Executive Vice-Chairman, Shriram Finance said

PNB, Axis Bank, HDFC Bank others rise as RBI announces liquidity measures

Brokerages believe central bank's actions set the stage for a repo rate cut in February

RBI's liquidity move boosts rate cut expectations: Canara Bank MD & CEO

I personally feel that steps may start addressing concern only from April onwards. In two months, the banking industry, most of them, will be aggressive on the top line, K Satyanarayana Raju said

MobiKwik, Cred first non-banks to offer CBDC, launches e-rupee wallet

The wallets support transactions up to Rs 10,000 per transfer with a daily limit of Rs 50,000

Reserve Bank of India tightens vigil on P2P lending after revising rules

Seeks qualitative details about lenders' operations

RBI supersedes Aviom India Housing Finance's board, appoints administrator

The regulator said it "intends to shortly" initiate the process of resolution of the company under the Insolvency and Bankruptcy Code (IBC)

RBI supersedes board of Aviom India Housing Finance on governance concerns

Aviom India Housing Finance caters to low-income households in semi-urban areas and provides loans to women borrowers who do not have any formal income documentation

Slice to rebrand as Slice Small Finance Bank after North East SFB merger

The merged entity has received a no-objection certificate from the Reserve Bank of India (RBI) for the rebranding exercise

MSME industry bodies seek RBI support for easier priority sector lending

The official further said that the RBI only partially restored this classification to the extent of Rs. 20 lakh per borrower. Hence, NBFCs funding to MSEs is now restricted

Reserve Bank of India ombudsman resolves 95% of complaints in FY24

Complaints rise 32 per cent in FY24

A Budget beyond popcorn: Focus on capex and consumer-driven growth

The government needs to spend more on capex and allow consumers to have money in their pockets if it wants growth. Let's focus on the real issues

Forum to fight for retail consumers is critical: FREED's Ritesh Srivastava

With the RBI's intervention by way of risk weighting, retail credit growth has slowed down to around 16.3 per cent year-on-year as of late November 2024