RBI gives banks and NBFCs three more months to implement three provisions under the new regulatory guidelines for issuing credit and debit cards; deadline now shifts to 1 October.
RBI has disallowed non-bank pre-paid wallets and pre-paid cards from loading credit lines into these platforms.
DBS Bank India has acquired a 9.9% stake in Svakarma Finance, a micro business-focused non-banking financial company, for an undisclosed amount.
Banks plan to approach RBI for special dispensation for bonds held in available-for-sale category as they have shed value in backdrop of off-cycle rate hike in May.
RBI will take strict action against regulated entities who resort to strong-arm tactics to recover loan dues from borrowers; calling up at odd hours or using foul language is unacceptable, Guv Shaktikanta Das said.
RBI has rejected idea of digital-only banks as model poses risks, governor Shaktikanta Das said.
RBI lifts business restrictions imposed on Mastercard with immediate effect as global card player achieves ‘satisfactory compliance’; Visa and RuPay had gained market share during this 11-month ban.
A little less than a week after RBI raised the repo rate by 50 basis points, SBI has hiked its deposit and lending rates; minimum rate for home loans raised to 7.55%.
RBI finds instances of banks flouting lending norms to govt-owned entities; directs banks to come out with comprehensive report on status of compliance within three months.
Rupee breaches 78-mark against dollar for first time; inflation at 7.04% for May crosses RBI’s upper tolerance limit for fifth consecutive month.
RBI approves appointment of R Subramaniakumar as MD and CEO of RBL Bank for a period of three years.
As of 31 March 2022, the bank’s advances in Maharashtra stood at Rs 3.29 trillion. Total advances include all loans offered by bank in the state – which include loans to retail, corporate, MSME and microfinance customers.
RBI allows linking of RuPay credit cards to UPI network and others are to follow; move to expand market, push credit-led consumption and increase usage of UPI.
For auto-transactions up to Rs 15,000, customers will not have to authenticate such payments through a one-time password; earlier, this was Rs 5,000.
HDFC has, for fourth time in a month, hiked its home loan rates by 50bps; other banks have also increased rates.
