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 government has reappointed Shaktikanta Das as the Reserve Bank of India’s (RBI) governor for three more years. The re-appointment is effective from December 10, 2021, or until further orders, whichever is earlier. The decision was approved by the appointments committee of the cabinet late. Mr. Das assumed the charge as the 25th governor of RBI on
Gov. approves reappointment of Shaktikanta Das as Governor of RBI for 3 more Year Read More »
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) 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)’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
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 »
The Reserve Bank of India (RBI) on Wednesday removed Indian Overseas Bank from its prompt corrective action (PCA) framework, subject to certain conditions and continuous monitoring. This means the bank will no longer face strict lending restrictions that were put in place by the RBI. RBI said that as per the published results for the
RBI takes Indian Overseas Bank out of PCA Framework Read More »
The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users. Daily Current Affairs Quiz 2021 In a notification issued, RBI said that it has provided the facility to interested card holders
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