India
India allows foreigners living overseas to open rupee accounts
India allows foreigners living overseas to open rupee accounts
This is provided they use the accounts for transactions with a resident of India.
RBI names 15 NBFCs to upper layer
They are subject to enhanced regulatory requirements for a 5-year period.
India names new advisory committee members for bank applications
RBI former deputy governor Shri M. K. Jain will serve as chairperson.
Reserve Bank of India lifts restrictions on Asirvad Micro Finance, DMI Finance
It issued a cease and desist order from loan sanctioning in October 2024.
RBI lifts lending restrictions of Arohan Financial Services Limited, Kolkata
The company initiated remedial action and submitted its various compliances to the central bank.
HSBC India launches premium credit card for private banking clients
Wealthy cardholders in India increased their credit card spending by 87% in 2023.
Reserve Bank of India raises offline payment limits
The cap for transactions increased to $11.81 from $5.90.
HDFC Bank teams up with Pennant to offer quicker loan processing
HDFC will be able to quickly launch new loan products, amongst others.
India’s Navi Finserv now allowed to sanction, disburse loans
The central bank said that it is satisfied with Navi Finserv’s revamped processes and systems.
Indian banks told to bring down number of inoperative, frozen accounts
Many of these result from banks’ backlog in their period verification of bank accounts.
Three Indian banks penalized for lending violations
Two banks sanctioned loans to its directors, the RBI stated in separate notices.
SBI Funds Management names Nand Kishore as managing director and CEO
SBI Funds Management is a JV between the State Bank of India and Amundi.
Improved lending to MSMEs needed: central banker
MSMEs make up almost a third of India’s nominal GDP.
India’s ecommerce payments to hit $147.3b in 2024
E-commerce market value will reach $292.3b by 2028, says GlobalData.
India, Maldives ink deal to promote local currencies for cross-border trade
Both countries aim to reduce costs and expedite settlement times for transactions.
India’s central bank warns against deepfake videos involving governor
The videos claim that its governor supports investment schemes.
India’s deposits surpass loan growth in Oct-Nov 2024
Higher term rates helped push up deposits, according to CareEdge.
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