Page 18 - Latest Updates on Reserve Bank of India
Why Indian banks need to be extra nice to their less tech-savvy customers
Out of 820 million active internet users last year, 370 million used the web for digital banking
 "Why Indian banks need to be extra nice to their less tech-savvy customers")
Ransomware attack forces around 300 small banks to go offline: Report
National Payment Corporation of India, an authority that oversees payment systems, said that it had temporarily isolated C-Edge Technologies from accessing the retail payments system operated by NPCI
 "Ransomware attack forces around 300 small banks to go offline: Report")
RBI releases draft rules for Aadhaar based payment operators to avert fraud
The proposals focus on streamlining the process for onboarding of AePS touchpoint operators and on-going due diligence, as per an official statement on the central bank website
 "RBI releases draft rules for Aadhaar based payment operators to avert fraud")
Evolving digital revolution
Policy and regulation will need consistent adaptation
 "Evolving digital revolution")
Draft framework: RBI for more options to authenticate digital payments
The first factor of authentication and the AFA would have to be from different categories, the RBI has stated
Bank holidays in August 2024: Here's the national and state-wise list
In total, banks will be closed for 13 days in August 2024
 "Bank holidays in August 2024: Here's the national and state-wise list")
RBI to hold interest rates steady in August, first cut expected in Q4: Poll
A sharp spike in food prices drove inflation in Asia's third-largest economy to a five-month high of 5.08 per cent in June
RBI issues norms to improve safety of payment systems with fraud monitoring
Directions aim to improve safety and security of the payment systems operated by PSOs by providing a framework for overall information security preparedness with an emphasis on cyber resilience
 "RBI issues norms to improve safety of payment systems with fraud monitoring")
11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance
For the recovery of this charge from account holders, public sector banks have formulated slab structures based on different geographies and segments
 "11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance")
Indian Bank eyes recovery of Rs 7,000 cr this financial year: MD & CEO
The bank has also received the approval from the Reserve Bank of India and shareholders to raise Rs 5,000 crore which would be decided at an opportune time
 "Indian Bank eyes recovery of Rs 7,000 cr this financial year: MD & CEO")
Reserve Bank of India must retain focus on food inflation, say economists
The prescription for inflation-minus-food found mention in the government's pre-budget Economic Survey published last week
 "Reserve Bank of India must retain focus on food inflation, say economists")
RBI plans five-episode web series to showcase its 90-yr journey, functions
Bank is desirous of creating a web series of 5 episodes of around 25-30 minutes each, which can be aired on national TV channels and/or OTT platforms, commemorating RBI's 90 yrs journey, it said
Shriram Group gets RBI nod to venture into asset reconstruction biz
The conglomerate announced last year it would enter ARC and wealth management businesses
 "Shriram Group gets RBI nod to venture into asset reconstruction biz")
RBI slaps fine of Rs 2.4 crore on Visa for unauthorised payment method
The central bank has aimed to tighten scrutiny of the processes followed by financial technology, or fintech, companies
RBI's draft LCR norms: Banks likely to see 4-11% impact on earnings
According to analysts, banks with an LCR exceeding 130 per cent are relatively comfortable, though not many lenders boast such robust ratios
 "RBI's draft LCR norms: Banks likely to see 4-11% impact on earnings")
Rupee falls to new low on oil importers' dollar demand, weak risk appetite
The rupee remained under pressure during the week due to persistent outflows from domestic equities, said dealers
 "Rupee falls to new low on oil importers' dollar demand, weak risk appetite")
Reserve Bank of India releases PCA framework for urban cooperative banks
The new framework will be applicable to UCBs with deposits above Rs 100 crore
RBI Recruitment alert 2024: Registration begins for 94 posts, check process
RBI started the registration process for Grade B officers' posts. The vacancy aims to fill 94 positions. Interested candidates can apply through the official website, i.e., rbi.org.in
RBI's proposed liquidity norms expected to raise demand for bonds
The new norms will pose requirements for higher liquid assets for the banks to shore up their LCRs
 "RBI's proposed liquidity norms expected to raise demand for bonds")
India's financial system looks stronger than in the past: RBI dy guv Rao
He further said the Indian banking sector, in particular, has demonstrated significant improvement in key metrics such as capital adequacy, asset quality, and profitability
 "India's financial system looks stronger than in the past: RBI dy guv Rao")
