The Reserve Bank of India (RBI) on October 4 gave license to the ₹6,000 crore National Asset Reconstruction Company Ltd. (NARCL), a move that will help kickstart operations of the bad bank. The Reserve Bank of India (RBI) has approved the license of the National Asset Reconstruction Company Limited (NARCL) under section 3 of the SARFAESI Act 2002. The […]
RBI grants a license to NARCL under Sarfaesi Act Read More »
Reserve Bank of India said that Rs 50,000 crore has been set as the ‘Ways and Means Advances (WMA) limit for the Central government during the H2FY22, on Monday. The Reserve Bank may trigger fresh floatation of market loans when the Government of India utilizes 75 percent of the WMA limit. According to the statement, the Reserve Bank
RBI sets WMA Limit for Central Government at Rs. 50,000 crore Read More »
Reserve Bank of India (Securitisation of Standard Assets) Directions, 2021, exposures to securitisations that are STC (simple, transparent, and comparable)-compliant can be subject to the alternative capital treatment. As per the guidelines of RBI, the minimum ticket size for the issuance of securitization notes will be Rs.1 crore. What is Securitisation? Securitisation involves transactions where credit
RBI fixes minimum ticket size for issuance of securitisation notes at Rs.1 crore Read More »
The Reserve Bank of India has allowed lenders/banks to transfer loans that have been classified as fraud by these lenders to Asset Reconstruction Companies (ARCs). Stressed loans including fraud loans that are in default for more than 60 days or classified as NPA are permitted to be transferred to ARCs. Banks will now be able to transfer to
RBI allows lenders to sell fraud loans to Asset Reconstruction Companies Read More »
Amit Saxena, Global Deputy CTO of State Bank of India has joined RBI Innovation Hub as the CTO. On Aug 6, 2020, the Reserve Bank announced that it would set up Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment that would facilitate and foster innovation.
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 — to facilitate instant, low-cost, cross-border fund transfer. The linkage will enable users of each of the two fast payment systems to make
The Reserve Bank of India (RBI) has announced the theme for the Third Cohort under the Regulatory Sandbox (RS) as ‘MSME Lending’. The application for the Third Cohort will be kept open from October 01, 2021 to November 14, 2021. With that, the central bank has announced the opening of the application window for the
RBI announces Opening of Third Cohort under the Regulatory Sandbox- Theme ‘MSME Lending’ Read More »
The Reserve Bank of India (RBI) has given its approval for the re-appointment of V. Vaidyanathan as the Managing Director (MD) & Chief Executive Officer (CEO) of the IDFC First Bank. Mr. Vaidyanathan has been appointed for a further period of three years, which will be effective from December 19, 2021. He first took charge as the MD
RBI approves re-appointment of V. Vaidyanathan as MD & CEO of IDFC FIRST Bank Read More »
State-owned UCO Financial institution will now not be topic to strict lending curbs imposed in Might 2017, with the Reserve Financial institution of India (RBI) taking the lender out of the immediate corrective motion ( Prompt Corrective Action ) restrictions. With this, solely two banks stay underneath PCA—Indian Abroad Financial institution and Central Financial institution
The Reserve Bank of India (RBI) will set up a committee to scrutinize applications and give recommendations on New Umbrella Entity (NUE) licenses. The 5 member committee will be headed by Shri. P. Vasudevan. The committee will be responsible for looking into several aspects of NUE, from the macroeconomic impact of such a step to the security risks. The committee’s recommendations
