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Byline: Moneylife Digital Team The Reserve Bank of India (RBI) says its real-time gross settlement (RGTS) facility, used for transferring funds above Rs2 lakh, will not be available for 14 [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) has received four applications each for on-tap universal private bank licenses and small finance bank (SFB) licenses. The list includes [...]

Byline: Moneylife Digital Team The Reserve Bank of India has once again decided to set up a regulations review authority (RRA 2.0) under the leadership of its deputy governor M [...]

Byline: Moneylife Digital Team The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs25 crore on Yes Bank Ltd for perpetrating fraudulent acts on its customers [...]

Byline: Moneylife Digital Team A new study by IIT Bombay has revealed that several banks, including State Bank of India (SBI), have been imposing excessive service zero-balance or basic savings [...]

Byline: Mahesh Natani The US dollar has got appreciated by over 1.5% in comparison to Indian rupee since 7 April 2021 when the Reserve Bank of India (RBI) in its [...]

Byline: Moneylife Digital Team To promote digital payments banks, the Reserve Bank of India (RBI) has raised the maximum balance that can be held with a payments bank to Rs2 [...]

Event The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI, the central bank) left its key policy rates unchanged, following the conclusion of its three-day meeting on [...]

Global Banking News-April 8, 2021--Indian shares respond to central bank's rate move (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 08 April 2021 Indian shares registered an increase in value [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) has asked all banks and non-banks to refund interest-on-interest to all borrowers for the six month moratorium period that ended [...]

Byline: Moneylife Digital Team To support a faster economic recovery amid the surge in Covid-19 cases, the Reserve Bank of India (RBI) retained its key short-term lending rates along with [...]

Byline: Ranganathan V In a news report, the governor of Reserve Bank of India (RBI) has hinted at a future with a heterogenous structure of commercial banks with differing scale [...]

Byline: Rajendra Gill In a related party transaction on the last day of the financial year the government of India (GoI), as a principal shareholder, infused Rs14,500 crore of equity [...]

Byline: Moneylife Digital Team Paying heed to concerns raised by several bodies over possible failure of millions of e-mandates or auto-debits with many banks not upgrading their capacities, the Reserve [...]

Bharat BillPay, a payment ecosystem conceptualized by Reserve Bank of India (RBI) and driven by the National Payments Corporation of India (NPCI), has recently launched a campaign to build brand [...]

Byline: Moneylife Digital Team Millions of e-mandates or auto-debits set up by customers for paying utility bills and subscriptions could fail from 1 April 2021, with many banks not upgrading [...]

Byline: Moneylife Digital Team While banks and other financial institutions offer nomination facility for customers, there is no provision for successive nomination like what the insurance companies provide. Looking at [...]

Byline: Moneylife Digital Team The Bombay High Court on Thursday admitted an interim application filed by Yes Bank AT1 Bond Holders Association for their claims worth Rs160 crore. While allowing [...]

Byline: Moneylife Digital Team The Bombay High Court on Thursday admitted an interim application filed by Yes Bank AT1 Bond Holders Association for their claims worth Rs160 crore. While allowing [...]

Byline: Moneylife Digital Team While online or digital payments have been on a rise especially after the spread of the COVID19 pandemic in India, it is observed that these frauds [...]

Byline: Moneylife Digital Team Amidst the rampant mis-selling of insurance policies to customers, the government says, there were 316 complaints of mis-selling of life insurance and ICICI Prudential Life Insurance [...]

Byline: Debayan Roy The Court held that any amount collected as compound interest shall be adjusted to the next installment payable instead of refunding it to the borrower. The Supreme [...]

Byline: Yogesh Sapkale When demonetisation was announced, everyone was thrilled to possess the brand-new Rs 2,000 currency note. Some wise people, including TV news channel, even went up to claim [...]

Byline: Meera Emmanuel 'Whatever the business of the respondent (REPCO) may have blossomed to, it cannot be regarded as a bank', the Court found. The Madras High Court recently ruled [...]

Byline: Meera Emmanuel The Court made the observations while dismissing objections to the maintainability of a writ petition filed against the General Manager, CEPC, RBI and the IndusInd Bank, among [...]

Byline: Ranganathan V We have seen an avalanche of corporate frauds since the outbreak of the IL&FS scandal in October 2018 and the aftermath is sitting as muck and filth [...]

Global Banking News-March 4, 2021--Indian central bank wants limits imposed on bank ownership of insurers (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 04 March 2021 The Indian central bank [...]

Byline: Moneylife Digital Team One more bank from the cooperative sector has come under directions from the Reserve Bank of India (RBI). Last week, the Reserve Bank has put Vijayapur, [...]

Byline: Murali Krishnan The Court also ordered the Reserve Bank of India (RBI) to lay down comprehensive directions mandating the steps to be taken by banks with respect to locker [...]

Byline: Moneylife Digital Team Bringing housing finance companies (HFCs) under closer scrutiny, while safeguarding interests of investors and depositors, the Reserve Bank of India (RBI) has issued master directions. These [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) in its master directions has asked regulated entities (REs) like banks and financial institutions, to put in place adequate safeguards [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) has approved Piramal group's plan for the takeover of Dewan Housing Finance Corporation Ltd (DHFL). The go-ahead from the central [...]

Byline: Moneylife Digital Team The office of the Banking Ombudsman (BO) has disposed of almost 72.34% of the complaints through mutual settlement or agreement and issued awards in only 68 [...]

Global Banking News-February 16, 2021--Indian central bank forms panel to consider cooperative banks' consolidation (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 16 February 2021 The Indian central bank, Reserve [...]

Event Provisional data released by the Central Statistics Office revealed that consumer prices rose by 4.1% year on year in January, slower than the 4.6% recorded in December 2020. On [...]

Global Banking News-February 15, 2021--Indian central bank forms panel for urban cooperative banks (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 15 February 2021 The Indian central bank, Reserve Bank [...]

Byline: Aditi Singh The Delhi High Court has issued notice in a petition by India Leprosy Foundation, a public Charitable Trust, against the initiation of insolvency proceedings against Dewan Housing [...]

Byline: Moneylife Digital Team The monetary policy committee (MPC) of the Reserve Bank of India (RBI) has unanimously decided to keep the key repo rate and the reverse repo rate [...]

Byline: Sakuntala Narasimhan For the third day in a row the coin dispensing machine at Canara Bank (a public sector bank or PSB) had a notice stuck on it saying [...]

Global Banking News-February 2, 2021--Indian central bank appoints external firm to conduct HDFC Bank's IT audits (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 02 February 2021 Reserve Bank of [...]

Byline: Debayan Roy The Supreme Court on Monday sought responses from Google, Facebook, Whatsapp and Amazon on a plea by Rajya Sabha MP Binoy Viswam seeking directions to ensure that [...]

The Modi government has asked the Enforcement Directorate (ED) and the Reserve Bank of India (RBI) to take 'necessary action' against e-commerce giants Amazon and Flipkart for alleged violation of [...]

Byline: Maya M The Reserve Bank of India (RBI) had stopped banks from sending unsolicited credit cards during the tenure of Dr Y Venugopal Reddy as governor. But the menace [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) while releasing a framework for strengthening grievance redress mechanism has warned supervisory action against banks that fail to improve their [...]

Global Banking News-January 28, 2021--Indian central bank to penalise banks that do not improve customer services (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 28 January 2021 The Indian central [...]

Atmanirbhar Digital India Foundation (ADIF), a newly formed industry association of Indian startups, has alleged that WhatsApp's recent privacy policy update is a looming threat to payments and financial data [...]

Byline: Moneylife Digital Team Financial stability is a public good and its resilience and robustness needs to be preserved and nurtured by all stakeholders, says Shaktikanta Das, governor of Reserve [...]

Byline: Moneylife Digital Team An investor of Dewan Housing Finance Corp Ltd (DHFL) has urged Shaktikanta Das, governor of Reserve Bank of India (RBI) to stop 'self-serving fraud' being allegedly [...]