India’s retail inflation falls to 7-month low of 3.61% in Feb, mainly due to slower rise in food prices; triggers hopes of RBI cutting interest rate for the second straight time in April policy.
RBI imposed penalties on four NBFCs for non-compliance with certain provisions of its directions related to 'peer-to-peer lending platform'.
RBI grants a year’s extension to Sumant Kathpalia, MD and CEO of IndusInd Bank; the lender’s board had asked for a 3-year extension.
14-day variable rate repo auction receives bids worth Rs 8,375 crore against notified amount of Rs 50,000 crore, indicating easing of liquidity following RBI’s continuous infusion of funds.
Piyush Gupta, who retires this month, received Rs 114.89 crore in total pay for 2024 as CEO of Singapore's largest regional bank DBS Group.
RBI plans to ask lenders to follow stricter underwriting processes for gold loans and monitor the end-use of funds in this fast-growing lending segment.
Under OMO auctions, RBI to purchase government securities worth Rs 1 lakh cr; to also conduct a buy/sell USD/INR currency swap auction of $10 bn.
SBI is selling its stake in Jio Payments Bank at Rs 13.22 apiece; Jio Financial currently holds 82.17% stake in the payments bank.
Between 2019 and 2024, 4 crore women have taken loans worth Rs 4.7 lakh crore by pledging their gold. This accounts for 38% of all loans taken by women in 2024.
Only Rs 6,471 crore of Rs 2,000 notes still with public, says RBI; 98.18% of Rs 2,000 banknotes have returned to banking system.
RBI lowers risk weights for banks on consumer microfinance loans by 25 percentage points to 100%; move to release more funds and boost credit at a time when the economy is facing slowdown in growth.
Bank of India reports loan fraud of Rs 226.84 crore by Odisha-based Gupta Power Infrastructure to the RBI; earlier, PNB had declared fraud of Rs 270.57 crore by the same company.
Hitesh Mehta, ex-GM of New India Co-operative Bank used to call two staffers and instruct them to hand over Rs 50 lakh at a time from the bank's safes to persons he sent; police has also arrested former CEO of the bank.
RBI has proposed to scrap the foreclosure charges on all floating rate loans, including for business purposes, availed by individuals as well as micro and small enterprises.
Reserve Bank of India will conduct a massive $10 billion three-year dollar/rupee swap auction on 28 February to inject durable rupee liquidity into the banking system.
