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RBI directs review of unfair interest practices by financial institutions
Updated : 1 year, 10 months ago IST
According to RBI, the directive, effective immediately, aims to address concerns over certain unfair practices observed during RBI's onsite examination of regulated entities (REs) for the period ended March 31, 2023.
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RBI cancels registration certificate of Acemoney (India) Ltd due to irregu
Updated : 1 year, 10 months ago IST
The decision to revoke the CoR was made in light of the company's violations of RBI guidelines on risk management and code of conduct in outsourcing financial services, particularly in its digital lending operations conducted through various third-party apps.
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RBI initiates transition plan: Small finance banks to ascend to universal
Updated : 1 year, 10 months ago IST
According to the guidelines, SFBs seeking to transition into Universal Banks must meet specific eligibility criteria. Firstly, they must maintain a satisfactory track record of performance for a minimum of five years.
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RBI lays out criteria for conversion of Small Finance Banks to Universal B
Updated : 1 year, 10 months ago IST
The Reserve Bank of India (RBI) has set out certain provisions fulfilling which Small Finance Banks (SFBs) can voluntarily convert themselves into Universal Banks.
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India's forex reserves decline further after hitting record high
Updated : 1 year, 10 months ago IST
India's foreign exchange reserves declined for the second week, after having risen for the seventh straight week to hit an all-time high of USD 648.562 billion.
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RBI announces auction sale of Govt. securities of Rs 32,000 crore
Updated : 1 year, 10 months ago IST
The Reserve Bank of India has announced the auction for the sale of Government Securities worth Rs 32,000 crore. The auction is scheduled to take place on Friday and it aims to facilitate the sale (re-issue) of Government Securities through a multiple price-based method.
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RBI cautions public against using unauthorised prepaid payment entities
Updated : 1 year, 10 months ago IST
The Reserve Bank of India (RBI) cautioned the public against using websites or applications, and parting with their money to any unauthorized entity.
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RBI cautions public against using unauthorised prepaid payment entities
Updated : 1 year, 10 months ago IST
The Reserve Bank of India (RBI) has urged the public to exercise utmost caution while using websites or applications, and parting with their money to any such unauthorized entity.
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Indian Rupee exhibited lowest volatility in three years during 2023-24
Updated : 1 year, 10 months ago IST
The Indian currency Rupee was the least volatile major currencies among its emerging market peers and a few advanced economies in the just-concluded financial year 2023-24, according to the Monthly Economic Review report of the Department of Economic Affairs under the Ministry of Finance.
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RBI directs banks for greater vigilance on forex trading and report unauth
Updated : 1 year, 10 months ago IST
The Reserve Bank of India (RBI) has issued a directive to banks regarding instances of unauthorized forex trading activities by certain entities.
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Kotak Mahindra Bank share tanks 10% after RBI bars on boarding customers d
Updated : 1 year, 10 months ago IST
The shares of Kotak Mahindra Bank fell around 10 percent after RBI barred the bank for on boarding new online customers, and issuing new credit cards. The investors reacted negatively since the opening of the market on the Thursday session, selling pressure is high on the Kotak shares.
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Benchmark indices open in red after 3-day rally
Updated : 1 year, 10 months ago IST
In the Nifty 50 index, 19 shares opened with advance while 31 shares in the list opened in red. Axis bank, Eicher Motors and HCL Technologies were among the top gainers in the Nifty 50. While the Kotak Mahindra Bank, Hindustan Unilever Ltd and Tata consumer were made into the list of top
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