Search

This article is motivated by the recent rapid growth in technology-enabled innovation in financial services, referred to as 'FinTech'. It explains and gives examples of developments in a number of broad categories of FinTech, and considers their implications for the Reserve Bank as prudential regulator. FinTech has the potential to enhance financial sector efficiency, but may also create new risks to financial sector stability. So far the overall impacts have been small, and for now the appropriate response by the Reserve Bank is limited to increased monitoring of emerging FinTech developments., 1 Introduction 'FinTech' (financial technology) is a term with many meanings. For the purposes of this article, FinTech is defined as 'technology-enabled innovation in financial services that could result in [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) on Thursday announced that it has imposed a monetary penalty of Rs 1 crore each on two payment system operators [...]

Byline: Moneylife Digital Team Every year banks transfer money from inoperative accounts for ten years to the depositor education and awareness fund (DEAF) scheme of the Reserve Bank of India [...]

Global Banking News-December 22, 2021--Cashfree Payments' Token Vault to go live by end of December (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 22 December 2021 India-based payments company, Cashfree [...]

Byline: Moneylife Digital Team Several media reports highlight that online or digital lending platforms are virtually an extortion racket, charging an exorbitant interest rate from naive people. It was alleged [...]

Global Banking News-December 13, 2021--India to bring in reforms for urban cooperative banks (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 13 December 2021 The Indian government is aiming for [...]

Byline: Moneylife Digital Team The monetary policy committee (MPC) of the Reserve Bank of India (RBI) has decided to keep policy rates unchanged in its December review. Due to this, [...]

Byline: Moneylife Digital Team The monetary policy committee (MPC) of the Reserve Bank of India (RBI) has decided to keep policy rates unchanged in its December review. Due to this, [...]

Global Banking News-December 8, 2021--Indian central bank relaxes banks' investment norms (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 08 December 2021 The Reserve Bank of India (RBI), the nation's [...]

Event On December 8th the governor of the Reserve Bank of India (RBI, the central bank), Shaktikanta Das, announced the monetary policy committee's unanimous decision to leave the repo rate [...]

Byline: Moneylife Digital Team The clarification issued by the Reserve Bank of India (RBI) on non-performing assets (NPAs) accounting is likely to increase NPAs by around one third for non-banking [...]

Byline: Moneylife Digital Team Anand Rathi (ARWL) is a wealth management firm, which is making its Intial Public Offering today. In a departure, from our usual IPO analysis, we are [...]

Byline: Sucheta Dalal On 29th November, when the Reserve Bank of India (RBI) superseded the board of Anil Ambani run Reliance Capital Ltd (RCL) and placed it under an administrator, [...]

Global Banking News-November 30, 2021--Indian central bank gives LIC approval to raise Kotak Mahindra Bank stake (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 30 November 2021 Life Insurance Corporation [...]

Global Banking News-November 30, 2021--Indian central bank fines Union Bank of India (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 30 November 2021 The Indian central bank has fined Union [...]

Byline: Moneylife Digital Team While lenders harass individual or small borrowers to the point of even releasing the borrowers' photos to the press for publishing them, it appears that big [...]

Byline: Ranganathan V On 22 November 2021, a scheme of rehabilitation of the Punjab and Maharashtra Cooperative (PMC) Bank has been put out for public comments by the Reserve Bank [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI)'s- Integrated Ombudsman Scheme (RB-IOS), 2021, which was launched by Prime Minister Narendra Modi last week seeks to provide cost-free redress [...]

Byline: Moneylife Digital Team The State Bank of India (SBI) is yet to return Rs164 crore of the undue fee charged from the account holders of Pradhan Mantri Jan Dhan [...]

Byline: Moneylife Digital Team In a major announcement, the Reserve Bank of India (RBI) on Monday said that co-operative societies are not allowed to use 'bank' in their names and [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) on Monday released a draft scheme for the acquisition of Punjab and Maharashtra Cooperative (PMC) Bank by Delhi-based Unity Small [...]

Byline: Moneylife Digital Team A working group (WG) of the Reserve Bank of India (RBI) has recommended separate legislation to prevent illegal digital lending activities. The WG, headed by Jayant [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) has decided to withdraw 104 regulatory instructions and circulars that have become redundant or were duplicated as per the Regulations [...]

Byline: Moneylife Digital Team Indian crypto 'currency' players are bombarding citizens with advertisements across platforms -- doubling down on their marketing spend even when cryptocurrencies are yet to be accepted [...]

Byline: Moneylife Digital Team Prime Minister Narendra Modi on Friday launched two innovative customer-centric initiatives of the Reserve Bank of India (RBI). The retail direct scheme allows investors to invest [...]

Byline: Moneylife Digital Team Almost 11 public sector banks (PSBs) had been placed under prompt corrective action (PCA) in 2017, and the road to recovery for these banks has been [...]

Byline: Moneylife Digital Team Three prepaid payment instrument operators, DigitSecure India Pvt Ltd, Kedia Infotech Ltd and Oxigen Services (India) Pvt Ltd and Muthoot Finance Ltd, the white-label automated teller [...]

Byline: Moneylife Digital Team Three prepaid payment instrument operators, DigitSecure India Pvt Ltd, Kedia Infotech Ltd and Oxigen Services (India) Pvt Ltd and Muthoot Finance Ltd, the white-label automated teller [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) has issued revised guidelines to banks for opening new current accounts provided the customer has less than Rs5 crore credit [...]

Byline: Prashant Jha The Delhi High Court on Thursday issued notice in a plea challenging an order of State Bank of India (SBI) to block UPI services on cryptocurrency exchange [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) 's guidelines on scale-based regulation (SBR) for non-bank finance companies (NBFCs) and housing finance companies (HFCs) restricts the excessive risk-taking [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) on Friday issued revised regulatory framework for scale based regulation (SBR) for non-banking finance companies (NBFCs). The revised ceiling on [...]

Global Banking News-October 19, 2021--Indian central bank fines Standard Chartered (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 19 October 2021 The Indian central bank, Reserve Bank of India (RBI), [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.95 crore on Standard Chartered Bank - India (StanChart) for non-compliance with RBI's [...]

Event Consumer price inflation decelerated to 4.4% year on year in September, from 5.3% in August, according to data released by the Ministry of Statistics and Programme Implementation. Meanwhile data [...]

Global Banking News-October 15, 2021--Centrum and BharatPe to build a digital small finance bank in India (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 15 October 2021 A consortium led [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) has barred Haribhakti & Co LLP from auditing companies regulated by RBI for two years starting from April next year. [...]

Event On October 8th the governor of the Reserve Bank of India (RBI, the central bank), Shaktikanta Das, announced the monetary policy committee's unanimous decision to leave the repo rate [...]

Byline: Moneylife Digital Team Bharatiya Janata Party (BJP) leader and member of Parliament Dr Subramanian Swamy says the Supreme Court ruling gives him the mandate to pursue the issue of [...]

Byline: Moneylife Digital Team We had mentioned in Monday's closing report that Nifty, Sensex may try to rally. On Tuesday, the indices opened higher and ended with major gains. On [...]

Political and economic outlook The Indian economy is the fifth largest in the world. Services make up the majority of GDP, with the country specialising in information technology services. Recent [...]

Byline: Adgully Bureau Dvara Research is a policy research institution and is a part of Dvara Holdings. It focuses on complete access to suitable financial services and social security for [...]

Global Banking News-September 29, 2021--India's HDFC Bank reports record credit card growth (C)2021 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 29 September 2021 India-based HDFC Bank (NSE: HDFCBANK) has said [...]

Byline: Moneylife Digital Team Updated on 24 September 2021 at 4pm to include clarification from DICGC The Union government has announced that the Deposit Insurance & Credit Guarantee Corporation (DICGC) [...]

Byline: Moneylife Digital Team The Union government has announced that the Deposit Insurance & Credit Guarantee Corporation (DICGC) would be paying a maximum of Rs5 lakh to depositors of 21 [...]

Byline: Moneylife Digital Team Paying heed to the concerns raised by several organisations over the possibility of failure of millions of e-mandates or auto-debits because all banks have not upgraded [...]

Byline: Khadija Khan As per the petition, Google Pay in its terms and conditions explicitly mentions that it would collect, store and share bank account and Aadhaar details of users [...]

Byline: GN Bureau The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) announce a project to link their respective fast payment systems - Unified Payments Interface [...]

Byline: Moneylife Digital Team The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) decided to link their respective fast payment systems unified payments interface (UPI) and [...]

Event Data released by the Ministry of Statistics and Programme Implementation show that consumer price inflation eased to 5.3% year on year in August, from 5.6% in July. Meanwhile, data [...]