India’s retail inflation rate, measured by the Consumer Price Index or CPI, rose mildly in October to 4.48% year-on-year from 4.35% in September due to an uptick in food prices. The inflation was 7.61% in October last year. For the fourth month in a row, CPI has been below the Reserve Bank of India’s six […]
The Reserve Bank of India has launched its first global hackathon named ‘HARBINGER 2021 – Innovation for Transformation’. The theme of HARBINGER 2021: Smarter Digital Payments. The Hackathon invites participants to identify and develop solutions that have the potential to make digital payments accessible to the under-served, enhance the ease of payments and user experience while strengthening
RBI launches its First Global Hackathon named ‘HARBINGER 2021’ Read More »
The Reserve Bank of India will launch a web-based supervisory system that will enable off-site and on-site supervision of modern functions such as digital banking and cyber security. RBI Deputy Governor M. K. Jain informed this while speaking at a private function in Mumbai. After this, banks need to be careful in complying with rules
The Reserve Bank of India (RBI) approved the candidature of Baldev Prakash as Managing Director and Chief Executive Officer of Jammu and Kashmir Bank for a period of 3 years from the date of taking charge or April 10, 2022, whichever is earlier, the bank said, reported Kashmir Reader. The actual date of appointment of Baldev
RBI approves appointment of Baldev Prakash as MD & CEO of J&K Bank Read More »
The Reserve Bank of India has imposed a penalty of 1 crore on Paytm Payments Bank for violating provisions of Payment and Settlement Systems Act 2007 and ₹27.78 lakh on Western Union Financial Services for non-compliance with certain directions. The central bank noted that Paytm payments bank’s application seeking the issue of the final certificate of authorization did not reflect its factual
RBI imposes ₹1 crore penalty on Paytm Payments Bank Read More »
The Reserve Bank of India on October 18, 2021, slapped a fine of Rs 1 crore on State Bank of India NSE -0.50 % for failing to comply with fraud classification rules. The regulator said it had conducted a probe in accounts maintained with SBI and had found it deficient in reporting frauds. The penalty
The Reserve Bank of India (RBI) has approved the re-appointment of Amitabh Chaudhry as the Managing Director & CEO of Axis Bank for a period of three years. The private lender confirmed the appointment and stated that it has received the central bank’s approval for Chaudhry’s re-appointment for another three-year period, with effect from 1
RBI approves re-appointment of Amitabh Chaudhry as MD, CEO of Axis Bank Read More »
The Reserve Bank of India (RBI) issued a Small Finance Bank (SFB) licence to the consortium of Centrum Financial Services Limited (Centrum) and BharatPe. “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
RBI grants small finance bank licence to Unity SFB Read More »
The Reserve Bank of India (RBI) has announced the fourth cohort ‘Prevention and Mitigation of Financial Frauds’ under the Regulatory Sandbox. RBI announced in the Statement on Developmental and Regulatory Policies that was presented. The theme is “Prevention and Mitigation of Financial Frauds”. Before this, RBI has already launched three cohorts under Regulatory Sandbox.
The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) on Friday kept the repo rate unchanged at 4 percent and the reverse repo rate at 3.35 percent, maintaining an accommodative stance on part of the central bank even as the economy is showing signs of recovery after the second coronavirus disease (Covid-19) wave. As
