Despite the numbers acting to the rupee’s disadvantage, it has managed to avoid a steep fall. Will it fight back?
RBI has disallowed non-bank pre-paid wallets and pre-paid cards from loading credit lines into these platforms.
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.
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.
