Reserve Bank of India on Friday said it has imposed a penalty of Rs 93 lakh on Axis Bank for various violations, including those related to KYC guidelines. The central bank has also slapped a fine of Rs 93 lakh on IDBI Bank. A monetary penalty of Rs 93 lakh has been imposed on Axis Bank for violating certain provisions on […]
RBI imposes penalties of Rs 93 lakh each on Axis and IDBI Bank Read More »
The Reserve Bank of India conducted its first Monetary Policy Committee (MPC) meeting for 2022-23 between April 6- 8, 2022. On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (April 8, 2022) decided to: keep the policy repo rate under the liquidity adjustment facility
RBI keeps Repo Rate unchanged at 4.0 percent; GDP growth for 2022-23- 7.2 percent Read More »
The Reserve Bank of India (RBI) has approved the re-appointment of Murli M Natarajan as the managing director and chief executive officer (MD & CEO) of DCB Bank for a period of two years, from April 29, 2022 to April 28, 2024. Natrajan has been serving as the managing director and chief executive officer (MD & CEO) of DCB
RBI approves 2-yr extension of Murli Natarajan’s tenure as MD-CEO of DCB Bank Read More »
In view of improvement in the pandemic situation, the Reserve Bank on Friday decided to reduce the Ways and Means Advances (WMA) for states and Union Territories to Rs 47,010 crore from Rs 51,560 crore. These norms will be effective from April 01, 2022. RBI had raised the WMA limit to Rs 51,560 crore for
RBI fixes WMA limits for the State Governments/UTs to Rs 47,010 crore Read More »
The RBI has decided to extend the timeline for implementation of cassette swap in all ATMs till March 31, 2023. Earlier, the same was advised to be implemented covering at least one-third of ATMs operated by the banks every year, which was extended to March 2022 Cassette Swap is lockable cassettes that are swapped at the time of
RBI extends the timeline for implementation of cassette swap in all ATMs Read More »
Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) has set up Varnika with an annual ink manufacturing capacity of 1,500 MT to enhance the security of banknotes. It is a boost to ‘Make in India’ initiative. It ensures that the entire requirement of banknote printing inks is produced in-house. Bharatiya Reserve Bank Note Mudran Private Limited
RBI Governor dedicates Varnika Ink Manufacturing Unit of BRBNMPL to the Nation Read More »
RBI Governor Shaktikanta Das has launched UPI for feature phones called UPI123Pay. He also launched 24×7 helpline for digital payments – DigiSaathi. UPI on feature phones will help people in rural areas who cannot afford a smartphone. UPI123pay presently offers four mediums/options to the users of feature phones to make UPI payments. Users can access DigiSaathi via
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.
RBI launches “BE(A)WARE” – A Booklet on Modus Operandi of Financial Frauds Read More »
The Reserve Bank of India (RBI) announced a US Dollar/Rupee two-year sell buy swap auction with a view to elongating the maturity profile of its forward book and smoothen the receivables relating to forward assets. The Central bank will undertake a sell/buy swap auction of $5 billion, which will enable access to a wider set of
RBI announces dollar/rupee two-year sell buy swap auction Read More »
The RBI has mandated that non-banking financial companies (NBFCs) – middle and upper layer — having 10 and more ‘Fixed point service delivery units’ as on October 1, 2022, will have to implement Core Financial Services Solution (CFSS), akin to the Core Banking Solution (CBS) adopted by banks, by September 30, 2025. Core Financial Services
RBI directs NBFCs to implement ‘Core Financial Services Solution’ by September 30, 2025 Read More »
