Page 98 - Reserve Bank Of India

Startup founders write to PM, FM & RBI to review regulatory action on PPBL

Founders have called on the regulator to re-evaluate its directive and engage in dialogue with the fintech industry

HDFC Bank Group gets RBI approval to acquire 9.5% stake each in six banks

RBI's approval is valid for one year from the date of RBI's letter, i.e., till February 4, 2025

RBI approves HDFC Bank Group's proposal to acquire 9.5% in IndusInd Bank

The RBI has said that HDFC Bank needs to acquire major shareholding within one year from February 5, 2024, failing which the approval shall stand cancelled

Jio Financial Services denies being in talks to acquire Paytm's wallet biz

Paytm news: Earlier, a media report had stated that JFSL and HDFC Bank were frontrunners to buy Paytm's wallet business

Paytm Payments Bank and RBI ban: What went wrong and the story so far

RBI Paytm Payments Bank news: After the ban announced on January 31, the shares of One97 Communications Ltd have fallen over 43% and are near their all-time low

Reserve Bank's decision to freeze Paytm shows faulty understanding

Last week, the Reserve Bank of India barred the institution from any further deposit or credit transaction in customer accounts, wallets or cards after Feb. 29

Can Paytm be used for recharge, UPI services post Feb 29? Company clarifies

Paytm News: The RBI, last Wednesday, ordered Paytm's affiliate Paytm Payments Bank (PPB) to wind down most of its businesses by February 29

Paytm's CEO says there would be no layoffs, working with RBI: Report

Paytm's CEO Vijay Shekhar Sharma assured the employees that they will figure everything out soon

RBI may continue status-quo on short-term lending rate, say experts

Coming close on the heels of the interim budget which maintained the status quo on policy front, the Reserve Bank is likely to continue with the pause on the short-term lending rate in its upcoming bi-monthly monetary policy this week as retail inflation is still near the higher end of its comfort zone, say experts. It is almost a year since the Reserve Bank has kept the short-term lending rate or repo rate stable at 6.5 per cent. The benchmark interest rate was last raised in February 2023 to 6.5 per cent from 6.25 per cent to contain inflation driven mainly by global developments. The retail inflation in the current financial year has declined after touching a peak of 7.44 per cent in July, 2023, it is still high and was 5.69 per cent in December 2023, though within the Reserve Bank's comfort zone of 4-6 per cent. RBI Governor-headed Monetary Policy Committee (MPC) will start its three-day deliberations on February 6. Governor Shaktikanta Das will announce the decision of the ...

No change in rate; will the stance change?

Both the US Fed and Bank of England have taken the tightening bias off the table. Will the RBI follow the same path?

Shadow of KYC-led money laundering falls over Paytm Payments Bank

Payments bank says it has upheld compliance with supervisory instructions

RBI slaps Rs 5 lakh fine on Bajaj Housing Finance for violating provisions

The action stands in violation of certain provisions of the 'Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021' issued by the RBI

Do not share documents with unknown entities for KYC updation: RBI

The Reserve Bank of India on Friday cautioned the public against fraud in the name of KYC updation and advised not to share documents with unknown entities. In the wake of continuing incidents and reports of customers falling prey to frauds being perpetrated in the name of KYC updation, RBI urged the members of the public to exercise caution and due care to prevent loss and safeguard themselves from such malicious practices. In past also the central bank has cautioned the public regarding such frauds. "Do not share KYC documents or copies of KYC documents with unknown or unidentified individuals or organizations," it said. Also, do not share account login credentials, card information, PINs, passwords, OTPs with anyone, the RBI added. "The modus operandi for such frauds usually involves customers receiving unsolicited communications, including phone calls/SMS/emails, through which they are manipulated into revealing personal information, account/login details, or installing ...

Forex reserves increase $591 million to $616.7 billion, shows RBI data

India's forex reserves increased USD 591 million to USD 616.733 billion for the week ended January 26, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had dropped USD 2.795 billion to USD 616.143 billion. The country's forex kitty had reached an all-time high of USD 645 billion in October 2021. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended January 26, the foreign currency assets, a major component of the reserves, increased USD 289 million to USD 546.144 billion, the data said. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves. Gold reserves increased USD 269 million to USD 47.481 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up USD 27

RBI likely to hold rates until mid-year, first cut in Q3 2024: Poll

A few weeks ago, RBI chief Shaktikanta Das expressed confidence current monetary policy could bring inflation back to its 4% medium-term target

Interim Budget: Disinvestment, monetisation target set at Rs 50,000 crore

Current goal pared down to Rs 30,000 cr

Highlights of the day: Delhi airport sees 13 flight diversions on Feb 1

From the delay in train, flight services to the updates about the interim budget 2024, catch all latest news here

Day after RBI order, Paytm says it will 'accelerate' work with other banks

Paytm's parent added that it expects this action to have an impact of Rs 300 to 500 crore on its annual EBITDA

Paytm expects up to $60 million hit from RBI action on its payments bank

Paytm will take steps immediately to comply with the RBI's directions, the fintech company said in a statement on Thursday. As a result, it expects a worst-case impact of Rs 300 crore ($36.12 million)

RBI's digital payments index jumps to 418.77 in Sept from 395.57 in Mar

RBI's Digital Payments Index comprises five broad parameters that measure the penetration of digital payments in the country over different time periods