Reserve Bank of India issues operational framework to allow foreign portfolio investors to convert their investments to foreign direct investment if the entity breaches the prescribed 10% limit.
RBI slaps penalty of Rs 59.20 lakh on South Indian Bank for non-compliance with certain directions on 'interest rate on deposits' and 'customer service in banks'.
After interviewing 16 candidates, FSIB has recommended Ashok Chandra for the position of PNB chief; Atul Goel retires in December-end.
Ban on Asirvad Micro Finance, Arohan Financial Services, DMI Finance and Navi Finserv is effective from close of business on 21 October.
RBI issues internal risk assessment guidance for money laundering and terrorist financing; banks and NBFCs to make periodical assessments.
RBI approves appointment of Partha Pratim Sengupta as MD & CEO of Bandhan Bank for a period of three years.
Reserve Bank of India leaves benchmark repo rate unchanged at 6.5% for tenth consecutive time but changes policy stance to neutral from withdrawal of accommodation.
RBI increases limit of UPI Lite wallet to Rs 5,000 from existing Rs 2,000; per-transaction limit also raised to Rs 1,000 from Rs 500.
The data repository will include a web-based directory and a data portal forming climate related data sets.
RBI has proposed banks and NBFCs not to levy foreclosure charges or pre-payment penalties on floating rate term loans sanctioned to micro and small enterprises.
RBI Governor Shaktikanta Das has warned of action against those NBFCs who are pursuing “growth at any cost” that could pose a risk to the economy’s financial stability.
State Bank of India has declared loan accounts of MTNL as sub-standard NPAs due to non-payment of instalments and interest since 30 June.
Bank of Baroda decides to sell its Oman operation to Bank Dhofar; this is part of lender’s rationalisation exercise.
Really important for market regulator to be like ‘Caesar’s wife must be above suspicion’, former RBI Governor Raghuram Rajan said, while responding to a question on multiple allegations levelled by Hindenburg Research.
Post the amalgamation, there will be a simplified corporate structure at the bank with no holding company.
