The RBI Retail Direct Scheme is aimed towards enhancing access to the government securities (G-Secs) market for retail investors, while the Reserve Bank - Integrated Ombudsman Scheme aims to improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI.
Here are five factors an investor should keep in mind when markets are touching all-time highs.
The total income of the SBI group rose to Rs 1,01,143.26 crore in the quarter under review, compared to Rs 95,373.50 crore in the year-ago period.
In respect of borrowers where exposure of the banking system is Rs 5 crore or more, such borrower can maintain current accounts with any one of the banks with which it has CC or OD facility.
The re-appointment of the RBI governor will be effective from December 10 or until further orders, whichever is earlier.
Total income during July-September period of 2021-22, however, grew to Rs 8,408.87 crore, as against Rs 8,252.71 crore in same period of 2020-21, Kotak Mahindra Bank said in a regulatory filing.
Account Aggregator (AA) has come as a boon to individuals and small businesses alike as it is expected to address the credit gap in the country.
The government in the Budget 2021-22 has made an allocation of Rs 20,000 crore for the capital infusion in the state-owned banks.
Gross non-performing assets (NPAs) of the private sector lender were Rs 16,346 crore — 1.35 per cent of advances in the second quarter of FY22 — as against Rs 11,304 crore (1.08 per cent) in September 2020.
PNB Housing has terminated the share subscription agreements executed with Pluto Investments, an affiliated entity of Carlyle Asia Partners IV, and Carlyle Asia Partners V, which entailed an investment of Rs 3,185 crore.
Convertibility refers to the ability to convert domestic currency into foreign ones and vice versa to make payments for balance of payments transactions.
“A new bank license has been issued after a gap of nearly 6 years, and we thank the RBI for the confidence shown in the abilities of Centrum and BharatPe,” Centrum said. The new SFB has been incorporated as ‘Unity Small Finance Bank’, it said.
Customers can avail car loan starting at 7.50 per cent with zero foreclosure charges and funding of up to 100 per cent on two-wheeler loans and four per cent less on interest rates, the bank said.
Net advances stood at Rs 2,01,247 crore at the end of the second quarter of the last financial year, IndusInd Bank said in a regulatory filing.
The need for Account Aggregators (AAs) comes in at a crucial point when credit disbursement, especially to the credit-starved MSMEs or the underbanked individuals, needs to become simpler. It has been reported that only 10 per cent of small businesses in India have access to formal credit.
Crypto asset technologies have the potential as a tool for faster and cheaper cross-border payments, said the IMF in its chapter titled The Crypto Ecosystem and Financial Stability Challenges.
The RBI had earlier extended the timeline for banks and other institutions to migrate to the framework for processing of e-mandates on recurring online transactions by six months.
The lender has also apprised the RBI of the structural and systemic improvements that it has put in place, which would help the bank in continuing to meet these commitments.
As of Monday, firms had settled 22.38 lakh claims worth Rs 20,430 crore, with the money going to the health sector. A total of 1.81 lakh claims for Rs 1,319 crore have been repudiated, according to figures compiled by the General Insurance Council. The figures also show a massive jump in the health portfolio of insurers.
Addressing the fintech industry, the minister said the value of digital transactions jumped to Rs 6 lakh crore in January-August 2021 from Rs 4 lakh crore and Rs 2 lakh crore in 2020 and 2019, respectively.
Private banks account for about half of the deposits of financial and non-financial corporations as well as rest of the world sectors, the RBI said. Out of total Rs 154.43 lakh crore deposits, private banks account for Rs 46.23 lakh crore as of March 2021.
When the RBI sacked the board of PMC Bank — with deposits of Rs 10,727 crore — in 2019, it initially slapped a deposit withdrawal restriction of Rs 1,000 per account which was later increased to Rs 50,000.
n According to an exchange filing, 62.28 per cent votes from shareholders were against Vinod Rai’s nomination as director till May 22, 2023. Only 37.71 per cent votes of shareholders came in favour of Rai.
The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) on Tuesday announced a project to link their respective fast payment systems -- Unified Payments Interface (UPI) and PayNow.
The government’s latest reforms, including plans to privatise two state banks, may help boost stability and allow the sector to take full advantage of the boom in digital transactions and the advances in fintech.