RBI proposes stricter LCR norms for banks, releases draft guidelines
New Delhi/IBNS: The Reserve Bank of India (RBI), in view of the rising number of mobile and internet banking users, has proposed to tighten norms related to the liquidity coverage ratio (LCR) by increasing the run-off factor for retail deposits, reports said.
RBI changes regulatory framework for domestic money transfer services
Mumbai: The Reserve Bank of India (RBI) has updated the regulatory framework for domestic money transfer services, tightening Know Your Customer (KYC) requirements for regulated entities.
Jio Financial Services gets RBI approval to become a core investment company
New Delhi/IBNS: Jio Financial Services on Thursday (July 11) received the Reserve Bank of India's (RBI) approval to become a Core Investment Company (CIC) from a Non-Banking Financial Company (NBFC), the company said in an exchange filing.
Reserve Bank of India allows resident Indians to open foreign currency accounts in GIFT City
New Delhi/IBNS: The Reserve Bank of India (RBI) has allowed Indian residents to open foreign currency accounts in Gujarat International Finance Tec-City (GIFT City), widening the scope of remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS).
RBI cautions banks against 'lakhs of accounts' used for fraudulent transactions, loan evergreening
New Delhi/IBNS: The Reserve Bank of India (RBI) has cautioned banks against having "lakhs of accounts" used for fraudulent transactions and loan accounts' evergreening, media reports said.
Latest RBI job data reveals India's employment growth rate accelerates to 6% in FY24
New Delhi/IBNS: A data released by the Reserve Bank of India (RBI) on Monday (July 8) showed that nearly 4.67 crore new jobs were created in India during the financial year 2023-24 taking the total number of employed persons in the country to 64.33 crore.
MobiKwik gains market share, becomes largest wallet player
Mumbai: MobiKwik, one of India's largest digital financial products and services platforms, has achieved the largest number of PPI Wallet transactions by value for the months of April and May 2024.
Paytm gets govt panel's approval to receive China-linked investments for its payments arm: Report
Mumbai: Paytm, which has been struggling after RBI’s operational restrictions on its payments arm Paytm Payment Bank, has received approval from a government panel overseeing China-related investments to inject 500 million rupees ($6 million) into a significant subsidiary, media report.
Reserve Bank of India has been collaborating bilaterally with various countries to link India’s Fast Payments System (FPS) – the Unified Payments Interface (UPI), with their respective FPSs for cross-border Person to Person (P2P) and Person to Merchant (P2M) payments.
Bandhan Bank starts online collection of direct taxes
Kolkata: Bandhan Bank today announced that it has launched the facility to collect direct taxes online from its customers and non-customers across India.
RBI imposes Rs 29.6 lakh fine on HSBC over non-compliance in card ops
Mumbai: The Reserve Bank of India (RBI) announced it has fined The Hongkong and Shanghai Banking Corporation Limited (HSBC) Rs 29.6 lakh for failing to comply with certain directives regarding card operations.
India is at the threshold of a major structural shift in its growth trajectory, moving towards 8 per cent GDP growth in a sustained manner, said RBI Governor Shaktikanta Das.
India's January-March current account balance at 0.6% surplus riding on high service exports
Mumbai: India's current account balance recorded a surplus in the January-March quarter, driven largely by higher service exports and private transfer receipts, according to the Reserve Bank of India (RBI).
Mumbai/IBNS: Billdesk, Cred, PhonePe, and Infibeam Avenues are among the fintech companies that will be impacted by the latest regulation of the Reserve Bank of India (RBI) requiring credit card bill payments to be routed through the central bank's centralised billing network.
Food inflation biggest challenge in disinflationary process: RBI Guv Shaktikanta Das
Mumbai: Despite the central bank's efforts to reduce India's retail inflation to its 4 percent target, the final stages of the disinflationary process are challenging due to persistently high food prices, Reserve Bank of India Governor Shaktikanta Das stated at an event on Tuesday.