Business Standard

Wednesday, December 25, 2024 | 06:21 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Page 4 - Reserve Bank

Startup founders write to PM, FM & RBI to review regulatory action on PPBL

Founders have called on the regulator to re-evaluate its directive and engage in dialogue with the fintech industry

Startup founders write to PM, FM & RBI to review regulatory action on PPBL
Updated On : 06 Feb 2024 | 12:07 PM IST

HDFC Bank Group gets RBI approval to acquire 9.5% stake each in six banks

RBI's approval is valid for one year from the date of RBI's letter, i.e., till February 4, 2025

HDFC Bank Group gets RBI approval to acquire 9.5% stake each in six banks
Updated On : 06 Feb 2024 | 11:05 AM IST

RBI approves HDFC Bank Group's proposal to acquire 9.5% in IndusInd Bank

The RBI has said that HDFC Bank needs to acquire major shareholding within one year from February 5, 2024, failing which the approval shall stand cancelled

RBI approves HDFC Bank Group's proposal to acquire 9.5% in IndusInd Bank
Updated On : 06 Feb 2024 | 10:40 AM IST

RBI slaps Rs 5 lakh fine on Bajaj Housing Finance for violating provisions

The action stands in violation of certain provisions of the 'Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021' issued by the RBI

RBI slaps Rs 5 lakh fine on Bajaj Housing Finance for violating provisions
Updated On : 02 Feb 2024 | 7:06 PM IST

RBI likely to hold rates until mid-year, first cut in Q3 2024: Poll

A few weeks ago, RBI chief Shaktikanta Das expressed confidence current monetary policy could bring inflation back to its 4% medium-term target

RBI likely to hold rates until mid-year, first cut in Q3 2024: Poll
Updated On : 02 Feb 2024 | 9:50 AM IST

French Prez Macron, PM Modi likely to use UPI at Hawa Mahal in Jaipur

At Hawa Mahal, both leaders will shop at local shops, and transactions are likely to be done through UPI

French Prez Macron, PM Modi likely to use UPI at Hawa Mahal in Jaipur
Updated On : 25 Jan 2024 | 8:36 AM IST

'Don't think world can afford cryptomania', says RBI Guv Shaktikanta Das

'I don't think the world or emerging markets can take a cryptomania like the Tulipmania, said the RBI Governor at Mint's BFSI Summit

'Don't think world can afford cryptomania', says RBI Guv Shaktikanta Das
Updated On : 11 Jan 2024 | 12:39 PM IST

RBI gives clarity to 'politically exposed persons' term to meet FATF norms

They are individuals entrusted with prominent public functions by a foreign country, including the heads of states or governments

RBI gives clarity to 'politically exposed persons' term to meet FATF norms
Updated On : 05 Jan 2024 | 11:47 PM IST

RBI revises definition of politically-exposed persons for KYC purpose

The Reserve Bank of India (RBI) has changed the definition of Politically-Exposed Persons (PEPs) under its norms, a move that will make it easier for those individuals to carry out various banking transactions, including availing loans. Certain changes have been made in the RBI's Know Your Customer (KYC) norms. The earlier norms pertaining to PEPs were open-ended and there was a lack of clarity on the definition, apparently leading to issues for bankers, parliamentarians and others. There were also concerns in certain quarters that PEPs were finding it difficult to get loans or open bank accounts. In the amended KYC master direction, the central bank defines PEPs as "individuals who are or have been entrusted with prominent public functions by a foreign country, including the heads of states/governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials". The new rules also .

RBI revises definition of politically-exposed persons for KYC purpose
Updated On : 05 Jan 2024 | 4:05 PM IST

Reserve Bank explores stringent measures to combat illegal forex trading

The RBI has compiled an alert list comprising 75 entities, including unauthorised platforms and websites involved in unauthorised forex transactions

Reserve Bank explores stringent measures to combat illegal forex trading
Updated On : 25 Dec 2023 | 1:30 PM IST

Last date to apply for new Sovereign Gold Bond (SGB) tranche today: Details

The bonds can be bought through agents or receiving officers (ROs), and applications must be submitted to branches during the weeks of subscription

Last date to apply for new Sovereign Gold Bond (SGB) tranche today: Details
Updated On : 22 Dec 2023 | 2:08 PM IST

As RBI tightens rules, Piramal to set aside funds for AIF exposure

As per the RBI's direction, regulated entities must liquidate their investments in AIFs within 30 days should the fund invest in an existing borrower

As RBI tightens rules, Piramal to set aside funds for AIF exposure
Updated On : 21 Dec 2023 | 5:02 PM IST

RBI introduces card tokenisation facility at bank level for convenience

The RBI on Wednesday introduced a Card-on-File (CoF) token facility at the level of banks and other institutions to provide convenience for cardholders to get tokens created and linked to their existing accounts with various e-commerce applications. At present, a CoF token can only be created through the merchant's application or webpage. For a CoF, a token is a 16-digit number unique for a combination of card, token requestor and merchant. Through tokenisation, the actual card details are replaced with token credentials that can be used only with the intended merchant. "It has been decided to enable Card-on-File Tokenisation (CoFT) directly through card-issuing banks/institutions also. This will provide cardholders with an additional choice to tokenise their cards for multiple merchant sites through a single process," the RBI said in a circular. Generation of CoF tokens for a card, through the card issuer, can be enabled through mobile banking and internet banking channels. In ..

Image
Updated On : 20 Dec 2023 | 10:40 PM IST

Fintech startup EnKash gets RBI nod to operate as payment aggregator

After receiving RBI's nod to operate as payment aggregator, EnKash said that it is now poised to bring further innovation to the B2B payment business

Fintech startup EnKash gets RBI nod to operate as payment aggregator
Updated On : 20 Dec 2023 | 6:11 PM IST

Banks seek RBI's nod to defer penal interest guideline by 3 months

The RBI issued guidelines instructing banks to levy charges rather than increase the interest rate for borrowers who fail to meet the terms and conditions of a loan contract starting January 1, 2024

Banks seek RBI's nod to defer penal interest guideline by 3 months
Updated On : 19 Dec 2023 | 9:54 AM IST

By 2047, India to remain a lower middle country if growth remains 6%: Rajan

Former Reserve Bank Governor Raghuram Rajan said India will still remain a lower middle country if the growth rate remains at 6 per cent annually without any rise in population by 2047 (Amrit Kaal) and will be reaching the end of the demographic dividend by then. Speaking at a programme organised by Manthan here, the economist said if the country does not grow faster, it will grow older (demographically) before it gets richer, which means there is the burden of an aging population to deal with also at that point. "If you do the math, at 6 per cent a year, you double every 12 years, and therefore in 24 years, we'll be four times our per capita income. Today, the per capita income in India, as you know, is just a little below $2,500 per person. multiply by four, we get $10,000 per personSo if you do the math, at our current rate of growth, you know, strong as it is highest in the G20, we don't get rich but we stay lower middle income till 2047," he said. The former RBI chief said some

By 2047, India to remain a lower middle country if growth remains 6%: Rajan
Updated On : 16 Dec 2023 | 11:04 PM IST

Optimism should not cause premature triumphalism: CEA Nageswaran

India's growth engine can become faster and accelerate if the much-awaited private sector capital formation kicks into a higher gear, he said

Image
Updated On : 08 Dec 2023 | 5:33 PM IST

Optimism should not cause premature triumphalism: CEA Nageswaran

India's growth engine can become faster and accelerate if the much-awaited private sector capital formation kicks into a higher gear, he said

Optimism should not cause premature triumphalism: CEA Nageswaran
Updated On : 08 Dec 2023 | 5:33 PM IST

RBI allows liquidity reversal for banks on weekends, holidays from Dec 30

The Reserve Bank of India (RBI) governor Shaktikanta Das said that the move will come into effect on December 30

RBI allows liquidity reversal for banks on weekends, holidays from Dec 30
Updated On : 08 Dec 2023 | 12:15 PM IST

RBI to establish cloud facility for financial sector to secure data privacy

Focusing on digital banking, the RBI announced a regulatory framework for web-aggregation of loan products and proposed the establishment of a fintech repository by April 2024

RBI to establish cloud facility for financial sector to secure data privacy
Updated On : 08 Dec 2023 | 12:15 PM IST