Page 36 - Latest Updates on Reserve Bank of India
RBI offices dealing with govt business to remain open on March 30, 31
In order to facilitate government receipts and payments, necessary arrangements have also been made to conduct special clearing operations across the country, it added
 "RBI offices dealing with govt business to remain open on March 30, 31")
Cibil score: How it tracks your credit history, how to improve your record
Reserve Bank of India has mandated all banks to check customers' credit scores for loan or credit card applications.
 "Cibil score: How it tracks your credit history, how to improve your record")
Paytm UPI: Transactions decline to continue till new customers added
The Reserve Bank of India had mandated Paytm to shift existing users to a new handle after the Paytm Payments Bank was asked to stop transactions after 15 March
 "Paytm UPI: Transactions decline to continue till new customers added")
SROs must promote a culture of compliance among members, says RBI
The membership criteria of the SRO would be as prescribed by RBI at the time of inviting the application for each category/class of REs
 "SROs must promote a culture of compliance among members, says RBI")
Consumers may struggle in disputes with digital platforms: RBI dy governor
Platforms provide 'immense benefits' but the risk of misuse and fraud increases, says Swaminathan J
 "Consumers may struggle in disputes with digital platforms: RBI dy governor")
Facing problems in closing your Paytm FASTag account? Here's how to do it
After the RBI's ban on PPBL from onboarding new clients and its wallet services, customers have complained of issues in closing their PPBL-linked FASTag accounts
 "Facing problems in closing your Paytm FASTag account? Here's how to do it")
RBI declines request to classify HDFC Ltd bonds as infrastructure bonds
HDFC bank had sought the RBI's approval to classify bonds with maturities between 7-10 years, worth around Rs 1.2 trillion, as infrastructure bonds
 "RBI declines request to classify HDFC Ltd bonds as infrastructure bonds")
Loan distribution by FACE members rise by 12.2% to 24.8 mn in Q3FY24
The report added that 12 per cent of loans distributed between April and December 2023 went to women
 "Loan distribution by FACE members rise by 12.2% to 24.8 mn in Q3FY24")
RBI approves re-designation of Manian, Ekambaram of Kotak Mahindra Bank
Kotak Mahindra Bank had announced the reorganisation of its senior management team last month
 "RBI approves re-designation of Manian, Ekambaram of Kotak Mahindra Bank")
Nabard projects Rs 2,43,093 crore credit potential for Bihar in 2024-25
The estimate has been made taking into account the Reserve Bank of India's priority sector-based guidelines
 "Nabard projects Rs 2,43,093 crore credit potential for Bihar in 2024-25")
Inflation still high and focus on minimising risk, says RBI report
Indicates 'significant per capita income shifts' underway
Outward remittances under Reserve Bank of India's LRS up 27% in Apr-Jan
Overseas remittances in January 2024 stood at $2.62 billion, nearly 9 per cent higher than $2.40 billion in December 2023
 "Outward remittances under Reserve Bank of India's LRS up 27% in Apr-Jan")
Net FDI in India down 38.4% in April-January: RBI's March 2024 bulletin
FDI into India is expected to receive a boost from the Trade and Economic Partnership Agreement (TEPA) signed with the European Free Trade Association (EFTA) on 10 March 2024
 "Net FDI in India down 38.4% in April-January: RBI's March 2024 bulletin")
Indian govt bond yield at more than two-week high as US peers jump
The rise in yields is fuelled by indications of a robust economy and elevated inflationary pressures
 "Indian govt bond yield at more than two-week high as US peers jump")
All that glitters is not gold for Reserve Bank & FinMin
Rightly so. Since November 1962, there have been many attempts to monetise gold. It's finally happening, but we must look for sustainable growth
 "All that glitters is not gold for Reserve Bank & FinMin")
Forex reserves surge by over $10 billion to hit over two-year high
The dollar index fell to around 102 at the end of the week, down from 103 at the start of the week
 "Forex reserves surge by over $10 billion to hit over two-year high")
India's forex kitty expands $10.47 billion to $636.095 billion: RBI data
In October 2021, the country's forex kitty had reached an all-time high of USD 645 billion
 "India's forex kitty expands $10.47 billion to $636.095 billion: RBI data")
RBI governor asks regulated entities to improve grievance redress mechanism
RBI had established an Internal Ombudsman (IO) Mechanism in regulated entities to bolster their internal grievance redress processes
 "RBI governor asks regulated entities to improve grievance redress mechanism")
RBI reconstitutes 'committee of advisors' of Abhyudaya Cooperative Bank
In November last year, RBI had superseded the Board of Directors of Abhyudaya Cooperative Bank for one year citing poor governance standards
 "RBI reconstitutes 'committee of advisors' of Abhyudaya Cooperative Bank")
Addressing grievances
RBI should focus more on spreading financial awareness
 "Addressing grievances")
