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RBI says RBL Bank’s financial position “satisfactory”; assures depositors, stakeholders
In a statement, the Reserve Bank of India (RBI) also said there is no need for depositors and other stakeholders to react to speculative reports.
RBL Bank CEO quits ahead of term end, interim chief claims it has RBI support
The exit of the bank’s MD came after the RBI on Friday appointed Yogesh K Dayal, Chief General Manager, RBI, as an Additional Director on the board of the bank for a period of two years till December 23, 2023 or till further orders.
October: Enrolment to ESIC scheme at 12.19 lakh
🔴 However, the October number is still higher than the number of new members joined with the scheme in April and May, when the second wave of the pandemic was wreaking havoc on the country.
Financial inclusion improves policy transmission: Patra
🔴 Democratic approach to rate setting: Michael Patra, RBI Deputy Governor
Industry not ready, deadline for tokenisation extended
🔴 After June 2022, credit and debit card data should be purged from the online systems of merchants, the Reserve Bank of India has said.
RBI extends card tokenisation deadline by 6 months till June-end
Card-on-file, or CoF, refers to card information stored by payment gateway and merchants to process future transactions.
RBI’s tokenisation rule for credit and debit cards from Jan 1: All you need to know
As per the new rule that comes into effect from January 1, 2022, all merchants need to use encrypted tokens for doing transactions instead of credit and debit cards.
Decrypting crypto, today on Explained Live
As the liquidity measures announced by several developed economies begin to taper off, asset classes including cryptocurrencies are beginning to see a softening of prices.
Demand for fuel credit cards jumped 10 times in 2021: Report
According to BankBazaar Moneymood 2022 report, the share of fuel cards have gone up to 13.1 per cent of the overall cards.
Axis Bank to raise up to Rs 5,000 crore by issuing bonds
In April this, the board of directors of Axis Bank had authorised it to borrow/raise funds in Indian currency/foreign currency by issue of debt instruments, perpetual debt instruments, AT 1 bonds, infrastructure bonds and Tier II capital bonds among others up to an amount of Rs 35,000 crore.
SBI hikes base rate by 0.1%
With the increase the revised base rate is 7.55 per cent, as per the information posted on SBI's website.
Bank strike: All you need to know about PSU bank strike today, tomorrow
Bank Strike on 16 and 17 December: The United Forum of Bank Unions (UFBU), which is an umbrella body of nine bank unions, has called for a two-day strike starting from December 16.
RBI brings NBFCs under prompt corrective action framework
The RBI decision has come after four big finance firms — IL&FS, DHFL, SREI and Reliance Capital — which collected public funds through fixed deposits and non-convertible debentures collapsed in the last three years despite the tight monitoring in the financial sector. They collectively owe over Rs 1 lakh crore to investors.
Safety of depositors’ money vital for growth of banks: PM Modi
🔴 Modi said that the move to guarantee deposits of up to Rs 5 lakh up from Rs 1 lakh earlier meant that about 98 per cent of accounts were fully covered and a total Rs 76 lakh crore were insured by the Deposit Insurance and Credit Guarantee Corporation.
Banks write off Rs 2.02 lakh crore in FY21; Rs 10.7 lakh crore crore in last 7 years
🔴 With this, banks have written off a whopping Rs 11,68,095 crore worth of bad loans, or non-performing assets (NPAs), in the last ten years
Scheduled status to Paytm Payments Bank
According to the bank, it has been included in the Second Schedule to the Reserve Bank of India Act, 1934.
Rs 2,000 denomination now 15.1% of total value of notes in circulation
The share of Rs 2,000 notes in circulation has fallen even as the currency in circulation has risen over 62 per cent over the last five years from Rs 17.74 lakh crore on November 4, 2016 to Rs 28.78 lakh crore on November 19, 2021.
RBI for widening scope of ‘bank note’ to include digital currency
🔴 The CBDC is a digital form of fiat currency which can be transacted using wallets backed by blockchain and is regulated by the central bank.
RBI supersedes board of default-hit Reliance Capital
The Reserve Bank of India (RBI) superseded the board of Reliance Capital and appointed Nageswar Rao Y (Ex-Executive Director, Bank of Maharashtra) as the administrator of the company.
Five home loan problems you should be aware of
A look at some challenges you may face in your home loan journey.
Hinduja heir seeks to remake Swiss bank for t-shirt crowd
Karam has taken over the bank at a difficult juncture for the Hindujas, with a deepening dispute between his ailing 85-year-old grandfather’s side of the family and Srichand’s three younger brothers.
Nirmala Sitharaman asks banks to keep pursuing people who have turned loan accounts into NPAs
She said, “The government pursued all those whose accounts had turned into NPAs within the country and abroad. We ensured their properties are attached and through a legal process are sold and auctioned out and the money came back to the banks.”
PMC Bank, Unity SFB merger scheme: RBI seeks views on draft
Unity SFB is a joint venture between Centrum Group and BharatPe. It commenced operations as a small finance bank (SFB) with effect from November 1.
Reforms in last 6-7 years has led banking sector to become strong today: PM Modi
Addressing the conference on 'Creating Synergies for Seamless Credit Flow and Economic Growth', Prime Minister Narendra Modi said that banks are reflecting an inherent strength today. He said that the financial health of the banks have improved considerably as they have been recovering bad debt.
Crypto currency: RBI chief asserts caution, ‘not enough debate’
At a event last week, Das had said, “Cryptocurrencies are a serious concern to RBI from a macroeconomic and financial stability standpoint. The government is actively looking at the issue and will decide on it. But as the central banker, we have serious concerns about it, and we have flagged it many times.”
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