As per the Reserve Bank of India data, the growth of bank deposit has moderated to 10% in March 2022 as compared with 11.9% in 2021. Current, savings and term deposits have been increased by 10.9%, 13.3% and 7.9%, respectively, during 2021-22. The share of current ...

The Reserve Bank of India has notified that it has extended the timeline for implementation of a few provisions under its master directions on credit card and debit card issuance. The timeline has been extended by three months from July 1, 2022, to October 1, 2022. ...

The Reserve Bank of India (RBI) has raised the Additional Factor of Authentication (AFA) limit from Rs 5,000 to Rs 15,000 per transaction for e-mandates on cards, Prepaid Payment Instruments (PPIs) and Unified Payments Interface (UPI) for recurring ...

RBI increase the number of digital payment transactions by more than 3X by 2025 and to curb volume of cheque-based payments to less than 0.25% of total retail payments Core theme of vision documents: E-Payments for Everyone, Everywhere, Everytime (4Es). It covers 47 specific ...

The Central Government has nominated Anand Gopal Mahindra (Chairman of Mahindra group), Venu Srinivasan (TVS Motor’s Chairman), Pankaj Ramanbhai Patel (Zydus Lifescience’s Chairman ) and Ravindra Dholakia (IIM Ahmedabad’s ex-faculty) as part-time non-official Directors on the ...

The Reserve Bank has cancelled the licence of The Mudhol Co-operative Bank Limited, Bagalkot (Karnataka), thus restricting it from repayment of deposits and acceptance of fresh funds. The bank does not have adequate capital and earning prospects, the Reserve Bank of India (RBI) said on Wednesday ...

The Reserve Bank of India (RBI) has raised the limits for individual housing loans being extended by Urban Cooperative Banks (UCBs) and Rural Cooperative Banks by over 100%. The limits for Tier I /Tier II UCBs have been revised from ₹30 lakh/ ₹70 lakh to ₹60 lakh/ ₹140 lakh, respectively. RCBs ...

The six-member Monetary Policy Committee (MPC) led by RBI Governor Shaktikanta Das voted unanimously to raise repo rate by 50 basis points to 4.90 percent. The Monetary Policy Committee has raised the repo rate in order to tackle elevated inflation. Standing Deposit ...

The Reserve Bank of India (RBI) has released the provisioning guidelines for outstanding loans extended by 'NBFC-Upper Layer'. These guidelines shall be effective from October 1, 2022. Individual housing loans and loans to Small and Micro Enterprises (SMEs): 0.25%. ...

The Reserve Bank of India (RBI) has issued norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India. As per the guidelines, banks may allow Qualified ...