Page 3 - Latest Updates on Reserve Bank of India
Union Budget balances fiscal and growth objectives, says RBI report
According to the report, the budget reaffirms the government's commitment to fiscal discipline while fostering inclusive, long-term economic growth in line with the vision of Viksit Bharat
 "Union Budget balances fiscal and growth objectives, says RBI report")
Bank holidays 2025: Why will banks be closed on 20 Feb in these states?
On Thursday, February 20, 2025, all banks in these two Northeast states will be closed. Customers will be wondering why has the RBI granted banks a holiday?
 "Bank holidays 2025: Why will banks be closed on 20 Feb in these states?")
PNB reports Rs 270.57 cr loan fraud by Gupta Power Infrastructure
Borrowal fraud of Rs 270.57 crore has been reported to the Reserve Bank of India (RBI) in non-performing asset (NPA) account of Gupta Power Infrastructure Ltd
 "PNB reports Rs 270.57 cr loan fraud by Gupta Power Infrastructure")
RBI launches 'RBIDATA' app to offer access to economic, financial data
The mobile app offers macroeconomic and financial statistics relating to the Indian economy in a user-friendly and visually engaging format
 "RBI launches 'RBIDATA' app to offer access to economic, financial data")
Regulator has been urging caution on NBFC pricing: Aadhar HF MD & CEO
The adjustments in the US economy suggest we may see stability over time, says Rishi Anand
 "Regulator has been urging caution on NBFC pricing: Aadhar HF MD & CEO")
RBI allows matching of PM-GAH transactions on NDS-OM, CCIL settlement
Currently, transactions between a PM and its own GAH or between two GAHs of the same PM are not permitted to be matched on NDS-OM
 "RBI allows matching of PM-GAH transactions on NDS-OM, CCIL settlement")
Govt may raise deposit insurance beyond Rs 5 lakh amid bank scam concerns
After the New India Co-op Bank scam exposed a Rs ₹122 crore fraud, the govt is mulling over raising deposit insurance beyond Rs 5 lakh amid rising concerns over financial security
 "Govt may raise deposit insurance beyond Rs 5 lakh amid bank scam concerns")
Deposit insurance cover may increase from Rs 5 lakh: DFS secy Nagaraju
Currently, deposits of up to ₹5 lakh are covered under the deposit-insurance scheme of Deposit Insurance and Credit Guarantee Corporation
 "Deposit insurance cover may increase from Rs 5 lakh: DFS secy Nagaraju")
New India Cooperative Bank's GM held in Rs 122 cr fraud: How it happened
The bank's general manager allegedly withdrew cash from the bank's Prabhadevi and Goregaon branches, siphoning off funds since the Covid-19 pandemic
 "New India Cooperative Bank's GM held in Rs 122 cr fraud: How it happened")
Bank of Maharashtra receives RBI's approval for opening GIFT City branch
The branch will function as Bank of Maharashtra's first international branch carrying out offshore banking operations from India
 "Bank of Maharashtra receives RBI's approval for opening GIFT City branch")
Financial services firm Navi appoints new CEOs as part of leadership rejig
Sachin Bansal steps down as Navi CEO; to serve as executive chairman of the group
 "Financial services firm Navi appoints new CEOs as part of leadership rejig")
RBI supersedes New India Co-op Bank board after imposing biz restrictions
Alleged misappropriation of funds behind curbs
 "RBI supersedes New India Co-op Bank board after imposing biz restrictions")
Poor governance: RBI replaces New India Co-op Bank's board for 12 months
Customers queued outside New India Cooperative Bank's branches in Mumbai on Friday seeking answers on the abrupt shut down of certain key services
 "Poor governance: RBI replaces New India Co-op Bank's board for 12 months")
Decoded: Why RBI stopped New India Co-operative Bank's operations
The RBI has barred the New India Co-operative Bank Ltd from issuing loans or permitting withdrawals for six months
 "Decoded: Why RBI stopped New India Co-operative Bank's operations")
Customers panic as RBI bans withdrawals from New India Co-operative Bank
RBI imposed severe restrictions on New India Co-operative Bank, including a ban on withdrawals for six months, due to concerns over the bank's financial stability
 "Customers panic as RBI bans withdrawals from New India Co-operative Bank")
Business correspondents to undergo digital audit, new training models
New audit envisages banks using digital technologies like video-based interviews, geo-tagging technology, and transaction-based controls, committee to be headed by top SBI official
 "Business correspondents to undergo digital audit, new training models")
NBFCs urge RBI to raise ECB limit, ease loan recovery and eKYC rules
NBFCs urge RBI to raise the ECB limit, ease SARFAESI norms for small loans, expedite eKYC approvals, and relax asset classification rules for alternative vehicle financing
 "NBFCs urge RBI to raise ECB limit, ease loan recovery and eKYC rules")
RBI flags FEMA breach in overseas guarantees, seeks corporate compliance
RBI directs state-owned banks to ensure corporates admit and pay penalties for violating FEMA rules by securing performance guarantees from overseas financial institutions
 "RBI flags FEMA breach in overseas guarantees, seeks corporate compliance")
RBI-NBFC meet: Shadow banks seek new funding as bank credit tightens
RBI governor nudges NBFCs towards Unified Lending Interface
 "RBI-NBFC meet: Shadow banks seek new funding as bank credit tightens")
Bond market participants expect more OMO purchases to aid liquidity
Banks bid 4.5x in Thursday's auction
 "Bond market participants expect more OMO purchases to aid liquidity")
