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RBI launches “BE(A)WARE” – A Booklet on Modus Operandi of Financial Frauds

The Reserve Bank has released a booklet, “BE(A)WARE” on the common modus operandi used by fraudsters and precautions to be taken while carrying out various financial transactions. The booklet aims to enhance public awareness about various types of financial frauds perpetrated on gullible customers while carrying out digital payments and other financial transactions.

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RBI Assistant Recruitment 2022 – 950 Assistant Vacancy, Online Apply

Last Date: 08/03/2022.Reserve Bank of India (RBI) has released an employment notification for the recruitment of 950 Assistant vacancy. RBI Assistant Recruitment 2022 1. Name of post No of posts Assistant 950 Category-wise vacancy: To be updated soon No of posts @ Assam: To be updated soon Pay Scale: ₹ 13150 – 750(3) – 15400 – 900(4) – 19000 –

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India give support to Sri Lanka to overcome forex crisis

India has announced a USD 900 million loan to Sri Lanka to build up its depleted foreign reserves and for food imports, amidst a shortage of almost all essential commodities in the island nation. It must be noted that Sri Lanka is currently facing a shortage of almost all essential commodities due to a shortage of dollars to pay

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RBI approves appointment of Ittira Davis as MD & CEO of Ujjivan SFB

Reserve Bank of India has approved the appointment of Ittira Davis as managing director & chief executive officer of (MD & CEO) of Ujjivan Small Finance Bank for one tenure. He will take charge of the extended tenure from January 14, 2022. The post had been lying vacant since three-month following the sudden exit of incumbent Nitin Chugh.

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RBI set up a separate department for “FinTech”

Reserve Bank of India has set up a separate internal department for fintech (Financial technology). The new department has been created with effect from January 04, 2022, by subsuming the FinTech Division of Department of Payment and Settlement Systems, Central Office (DPSS, CO). The Reserve Bank of India (RBI) has set up a FinTech Department to promote innovation

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RBI Gives Scheduled Bank Status to Airtel Payments Bank

The Reserve Bank of India (RBI) has included Airtel Payment Bank in the ‘Second Schedule to the Reserve Bank of India Act, 1934’ on January 04, 2022. Airtel has announced that it’s Airtel Payments Bank has been categorised as Scheduled Bank by the Reserve Bank of India. The Airtel Payments Bank can now bid for government-issued Requests

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RBI Retains SBI, ICICI Bank, HDFC Bank as Domestic Systemically Important Banks (D-SIBs)

The Reserve Bank of India (RBI) on Tuesday said state-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank continue to be domestic systemically important banks (D-SIBs) or institutions which are ‘too big to fail’. These three banks have continued to be on the D-SIBs list published by RBI, since Sep 04, 2017. Domestic Systemically Important Banks are those banks which

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RBI allowed SFBs as Agency Bank to conduct Govt Business

The Reserve Bank of India (RBI) has thrown open the government agency business like tax collection to scheduled payment banks and scheduled small finance banks (SFBs). This is part of move to provide further scope to private banks to conduct government agency business. In May this year, RBI has revised the existing guidelines on ‘Appointment of Scheduled Private Sector Banks as Agency Banks of RBI’ for

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RBI enforces 20-digit LEI for cross-border deals

The Reserve Bank of India (RBI) Make Legal Entity Identifier (LEI) Mandatory for cross-border transactions for capital or current account transactions of Rs 50 crore and beyond that, from 1st October of the following year. LEI is a 20-digit number used to uniquely identify parties to financial transactions worldwide to improve the quality and accuracy of financial data systems. The

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RBI imposes Rs 1 Crore penalty on SBI For violating norms

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on State Bank of India (SBI) on November 26, 2021, for violating sub-section (2) of section 19 of the Banking Regulation Act, 1949. SBI held shares in the borrower companies of an amount exceeding 30 percent of the paid-up share

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