PMC Bank to be merged with Unity Small Finance Bank
Mumbai/IBNS: The Centre has approved the merger of cash-strapped Punjab and Maharashtra Co-operative bank with Unity Small Finance Bank (UNSFB), the Reserve Bank of India (RBI) said Tuesday.
IATO seeks special status for tourism industry
New Delhi/UNI: Indian Association of Tour Operators (IATO), the apex inbound tour operators body, on Friday sought special status for the tourism industry.
Niti Aayog led study bats for priority sector lending tag to electric vehicles
New Delhi/UNI: The NITI Aayog along with Rocky Mountain Institute has sought priority sector lending status for electric two-wheelers, three-wheelers and commercial vehicles in the Reserve Bank of India’s (RBI) priority-sector lending guidelines which can help unlock EV financing market of Rs 40,000 crore by 2025 and achieve COP26 targets.
FSDC-SC members discuss challenges arising from third wave
New Delhi/UNI: Financial Stability and Development Council (FSDC) Sub Committee (FSDC-SC) chaired by RBI Governor Shaktikanta Das on Thursday reviewed developments in the global and domestic economy.
Former RBI Governor Urjit Patel appointed vice-president of AIIB
Beijing/IBNS: Ex-RBI Governor Urjit Patel has been appointed as a vice-president of the Beijing-based Asian Infrastructure Investment Bank (AIIB), media reports said.
Mumbai/IBNS: The Reserve Bank of India has said the gross non-performing assets (GNPAs) of banks may jump from 6.9 percent in September 2021 to 8.1 percent by September 2022 under the baseline scenario and to 9.5 percent under a severe stress scenario, the Reserve Bank of India (RBI) said in its Financial Stability Report (FSR) on Wednesday.
NRIs, OCIs don't need RBI's approval for buying immovable property in India
Mumbai/IBNS: The Reserve Bank of India (RBI) has said NRIs and OCIs do not need its prior permission for the sale and transfer of immovable properties in India, other than agricultural land, farm houses, plantation properties.
AU Small Finance Bank appoints Ex RBI Depty Guv H. R. Khan as non-exec independent director
Kolkata/IBNS: AU Small Finance Bank Tuesday announced the appointment of Harun Rashid Khan as non-executive independent director (Additional Director) on its board, for a period of three years, effective December 28, 2021, subject to the approval of shareholders.
RBI to conduct another 3-day VRRR auction for Rs 2 lakh crore
Mumbai/IBNS: Reserve Bank of India will conduct another three day Variable Rate Reverse Repo (VRRR) auction next week in order to draw out up to Rs 2,00,000 crore.
RBI extends deadline for card tokenisation
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday extended the deadline for card tokenisation till June 30, 2022.
RBI board discusses Central Bank Digital Currency, private cryptocurrencies in meeting
Mumbai/IBNS: The central board of the Reserve Bank of India (RBI) Friday discussed the issues related to Central Bank Digital Currency (CBDC) and private cryptocurrencies, the RBI said in a press release.
RBI imposes monetary penalty on PNB, ICICI Bank for non-compliance
Mumbai/IBNS: Reserve Bank of India (RBI) on Wednesday said it has imposed a monetary penalty on private sector lender ICICI Bank and state-run Punjab National Bank (PNB) for non-compliance with its rules.
RBI allows small finance banks and payments banks to conduct govt business
Mumbai/IBNS: Reserve Bank of India (RBI) has allowed scheduled payments banks and small finance banks (SFBs) to conduct government business.
RBI Guv Shaktikanta Das cautions depositors chasing high returns, interests
New Delhi/UNI: While terming the higher deposit insurance cover of Rs five lakh as an important milestone, Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday cautioned depositors chasing higher returns.
Mumbai/IBNS: The Reserve Bank of India (RBI) announced three key measures on Wednesday to make the Unified Payments Interface (UPI) transactions more efficient.