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"We Aren't Police...": RBI Chief Day After 4 Firms Banned From Giving Loans
Reserve Bank Governor Shaktikanta Das on Friday said that the central bank does not act like a policeman, but it maintains tight vigil on financial market and takes regulatory action whenever necessary.
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Acted On Unsecured Loans To Avert Bigger Problems: RBI Governor
The Reserve Bank of India (RBI) endeavors to smell out a crisis early and act on it, Governor Shaktikanta Das said, stating that not taking any action on the unsecured lending front would have created "bigger problems".
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People In Queue To Exchange Rs 2,000 Notes After Last Date Quizzed At RBI
The Economic Offence Wing (EOW) of Odisha Police questioned people standing in queue to exchange Rs 2000 currency notes at the Reserve Bank of India counter here to find out whether they were acting as agents for others, an official said.
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PayPal Moves Delhi High Court Against Order Holding It as ‘Payment System Operator’ Under Money Laundering Law
American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a "payment system operator" under the Prevention of Money Laundering Act (PMLA) and has to thus comply with "reporting obligations" under it.
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RBI Hits Pause On Interest Rate Hike, Says Won't Hesitate To Act If Needed
RBI Monetary Policy: The Reserve Bank of India today kept the repo rate steady, maintaining the key benchmark interest rate at 6.5 percent, adding that it wouldn't hesitate to act in the future if the situation warranted.
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RBI Grants In-Principle Approval To 32 Existing Payment Aggregators
The RBI said for the purpose of disseminating information and ensuring greater transparency, the list of entities that have submitted applications to RBI seeking authorisation to act as online PAs with the current status of their application as of February 15, 2023, is published.
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RBI Suggests Customers to Approach Local Police for Issues Related to Unregistered Digital Lending Apps
Reserve Bank Governor Shaktikanta Das has clarified that the central bank will only act against digital lending entities registered with it. Customers borrowing from unregistered digital lending apps are recommended to approach the local police in case of any issue.
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RBI To Hike Rates In June, With A Faster Tightening Path Likely On Surging Inflation: Report
The Reserve Bank of India will raise its repo rate in June and hike at a faster pace than predicted just a few weeks ago as a surge in inflation puts pressure on the central bank to act quicker, a Reuters poll showed.
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RBI May Be Forced To Hike Rates Sooner As March Inflation Spikes To 6.95%
The Reserve Bank of India may be forced to act faster on policy tightening after data showed retail inflation spiked sharply to nearly 7 per cent in March, and the fallout of the Ukraine war pushing energy rates higher was expected to add to the already spiralling price pressures.
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RBI Behind The Curve On Inflation Control
The Reserve Bank of India is behind the curve on controlling inflation and will have to act faster and more aggressively later.
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Banks To Remain Closed For Five Days This Week: See List
Bank holiday list is kept by the Reserve Bank of India under three categories - The Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday and Banks' Closing of Accounts.
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RBI Imposes Monetary Penalty On RBL Bank For Non-Compliance
The Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 2 crore on RBL Bank. The penalty is "for contravention of section 28 (h) of the RBI (Interest Rate on Deposits) Directions, 2016 and for non-compliance with the provisions of clause (b) of sub-section (2) of section 10A of the Banking Regulation Act, 1949 (the Act)," the cen...
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RBI Imposes Rs 25 Lakh Penalty On Axis Bank For Violating Certain Norms
RBI imposed a monetary penalty of Rs 25 lakh on Axis Bank as it failed to comply with certain provisions of Know Your Customer (KYC) norms.
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RBI Cancels Licence Of Dr Shivajirao Patil Nilangekar Urban Co-operative Bank
RBI said Dr Shivajirao Patil Nilangekar Urban Co-operative Bank does not have adequate capital and earning prospects, and does not comply with the provisions of the Banking Regulation Act, 1949.
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Banks Will Be Shut On These Days In July
Banks across India will be closed on these days in July because of different holidays in various parts of India. The holidays include Sundays and second and fourth Saturdays.
-
"We Aren't Police...": RBI Chief Day After 4 Firms Banned From Giving Loans
Reserve Bank Governor Shaktikanta Das on Friday said that the central bank does not act like a policeman, but it maintains tight vigil on financial market and takes regulatory action whenever necessary.
-
Acted On Unsecured Loans To Avert Bigger Problems: RBI Governor
The Reserve Bank of India (RBI) endeavors to smell out a crisis early and act on it, Governor Shaktikanta Das said, stating that not taking any action on the unsecured lending front would have created "bigger problems".
-
People In Queue To Exchange Rs 2,000 Notes After Last Date Quizzed At RBI
The Economic Offence Wing (EOW) of Odisha Police questioned people standing in queue to exchange Rs 2000 currency notes at the Reserve Bank of India counter here to find out whether they were acting as agents for others, an official said.
-
PayPal Moves Delhi High Court Against Order Holding It as ‘Payment System Operator’ Under Money Laundering Law
American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a "payment system operator" under the Prevention of Money Laundering Act (PMLA) and has to thus comply with "reporting obligations" under it.
-
RBI Hits Pause On Interest Rate Hike, Says Won't Hesitate To Act If Needed
RBI Monetary Policy: The Reserve Bank of India today kept the repo rate steady, maintaining the key benchmark interest rate at 6.5 percent, adding that it wouldn't hesitate to act in the future if the situation warranted.
-
RBI Grants In-Principle Approval To 32 Existing Payment Aggregators
The RBI said for the purpose of disseminating information and ensuring greater transparency, the list of entities that have submitted applications to RBI seeking authorisation to act as online PAs with the current status of their application as of February 15, 2023, is published.
-
RBI Suggests Customers to Approach Local Police for Issues Related to Unregistered Digital Lending Apps
Reserve Bank Governor Shaktikanta Das has clarified that the central bank will only act against digital lending entities registered with it. Customers borrowing from unregistered digital lending apps are recommended to approach the local police in case of any issue.
-
RBI To Hike Rates In June, With A Faster Tightening Path Likely On Surging Inflation: Report
The Reserve Bank of India will raise its repo rate in June and hike at a faster pace than predicted just a few weeks ago as a surge in inflation puts pressure on the central bank to act quicker, a Reuters poll showed.
-
RBI May Be Forced To Hike Rates Sooner As March Inflation Spikes To 6.95%
The Reserve Bank of India may be forced to act faster on policy tightening after data showed retail inflation spiked sharply to nearly 7 per cent in March, and the fallout of the Ukraine war pushing energy rates higher was expected to add to the already spiralling price pressures.
-
RBI Behind The Curve On Inflation Control
The Reserve Bank of India is behind the curve on controlling inflation and will have to act faster and more aggressively later.
-
Banks To Remain Closed For Five Days This Week: See List
Bank holiday list is kept by the Reserve Bank of India under three categories - The Negotiable Instruments Act, Holiday, Real Time Gross Settlement Holiday and Banks' Closing of Accounts.
-
RBI Imposes Monetary Penalty On RBL Bank For Non-Compliance
The Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 2 crore on RBL Bank. The penalty is "for contravention of section 28 (h) of the RBI (Interest Rate on Deposits) Directions, 2016 and for non-compliance with the provisions of clause (b) of sub-section (2) of section 10A of the Banking Regulation Act, 1949 (the Act)," the cen...
-
RBI Imposes Rs 25 Lakh Penalty On Axis Bank For Violating Certain Norms
RBI imposed a monetary penalty of Rs 25 lakh on Axis Bank as it failed to comply with certain provisions of Know Your Customer (KYC) norms.
-
RBI Cancels Licence Of Dr Shivajirao Patil Nilangekar Urban Co-operative Bank
RBI said Dr Shivajirao Patil Nilangekar Urban Co-operative Bank does not have adequate capital and earning prospects, and does not comply with the provisions of the Banking Regulation Act, 1949.
-
Banks Will Be Shut On These Days In July
Banks across India will be closed on these days in July because of different holidays in various parts of India. The holidays include Sundays and second and fourth Saturdays.
