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Large non-banking finance companies (NBFCs) are likely to be more intensely regulated and their lending to sensitive sectors like capital markets and real estate capped if the RBI were to implement proposals that it has put forward in a discussion paper.

India’s gross domestic product (GDP) is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter “V” in the V-shaped recovery stands for vaccine. The government launched the world’s biggest vaccination drive on January 16 to protect people from Covid-19.

The Reserve Bank of India (RBI) on Tuesday said state-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank continue to be domestic systemically important banks (D-SIBs) or institutions which are ‘too big to fail’.

Reserve Bank of India (RBI) governor Shaktikanta Das on Monday warned that there is a growing disconnect between certain segments of financial markets and the real economy, and stretched valuations pose a risk to financial stability.

RBI governor Shaktikanta Das on Monday said that the economic prospects have been scarred by the Covid-19 pandemic and the task ahead is to restore growth and livelihood. “Financial stability is a precondition for supporting this (growth) mission,” he added. He also said that expansion in the govt’s market borrowing programme after Covid has imposed … Continue reading Task ahead is to restore eco growth: RBI governor

In a big boost for digital payments, the RBI has announced a fund that will subsidise deployment of card-acceptance devices and QR codes in tier-3 to tier-6 towns and in the northeast. The Payments Infrastructure Development Fund (PIDF), which currently stands at Rs 345 crore, will go up further with contributions from banks yet to … Continue reading RBI’s Rs 350cr subsidy to add 10L card machines

The Reserve Bank of India (RBI) has said that it will start using SupTech (supervisory technology) and RegTech — a subset of fintech that uses technology to scale up supervision — to keep up with the entities it regulates.

The Reserve Bank of India (RBI) acted proficiently during the year to mitigate the impact of the Covid-19 pandemic on the economy. From extending rate cuts, to announcing three-month repayment moratorium on loan repayments and an assured liquidity support through the targeted long term repo operations, the central bank undertook various measures to maintain growth.

The Centre and state governments need to continue with the counter-cyclical fiscal measures to sustain the momentum of economic growth which went through a rough patch following the outbreak of the coronavirus pandemic, according to a Reserve Bank of India (RBI) article.

RBI cautions against loans given on apps

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Following cases of suicide over alleged harassment by recovery agents of entities that provided loan over mobile apps, the RBI has cautioned against such loans and has asked aggrieved NBFC borrowers to file complaints on its portal.

The Supreme Court has sought responses from shareholders of the nearly 100-year-old Lakshmi Vilas Bank (LVB) on a petition by the Reserve Bank of India (RBI) seeking consolidated hearing of petitions. These have been filed before four high courts, challenging the merger of LVB with the Indian subsidiary of Singapore’s DBS Bank.

Reserve Bank of India (RBI) governor Shaktikanta Das has asked banks to take proactive measures to strengthen their resilience and lending capacity by raising capital, the central bank said in a statement on Wednesday.

The Reserve Bank of India (RBI) on Wednesday cautioned the general public against unauthorised lending platforms and mobile apps. In an official release, RBI said that there have been reports about people falling prey to digital lending scam in order to get quick and hassle free loans.

Kotak Mahindra Bank’s promoter and CEO Uday Kotak has been cleared for reappointment by the RBI along with his deputy MD and chairman for three years. The second-most valuable private bank informed the stock exchanges that the regulator had on Monday approved the re-appointment of Kotak as MD & CEO, Prakash Apte as part-time chairman, … Continue reading RBI allows Kotak to lead bank for three more years

A relentless torrent of funds rushing into India’s markets may tip the central bank’s delicate balancing act in 2021. For most of this year, the Reserve Bank of India has capped currency gains as global investors poured around $50 billion into stocks and stakes in companies.

With a view to effectively deal with increasing circulation of banknotes, the Reserve Bank of India (RBI) has decided to set up an Automated Banknote Processing Centre (ABPC) in Jaipur for receipt, storage and dispatch of currency notes.

The Reserve Bank of India (RBI) on Friday decided to keep key lending rates unchanged in its December policy review meeting. The six-member monetary policy committee (MPC), headed by governor Shaktikanta Das, kept repo rate unchanged at 4 per cent while maintaining accommodative stance.

Reserve Bank of India (RBI) on Friday said it expects the economy to record positive growth in the second half of the current financial year. The economy contracted by 23.9 per cent in the first quarter and 7.5 per cent in the second quarter on account of the Covid-19 pandemic.