Reserve Bank of India
Three Indian banks penalized for lending violations
Three Indian banks penalized for lending violations
Two banks sanctioned loans to its directors, the RBI stated in separate notices.
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 urges banks to review digital payment access for disabled users
They must submit a plan of action for any modification within a month’s time.
India and Maldives ink currency swap agreement
The agreement is valid until June 2027.
RBI deputy governor calls for enhanced financing access for Indian farmers
Shri Swaminathan Janakiraman suggested five solutions to address financing issues.
Indian banks deposits and credit grow at the same pace
Deposits have expanded by $147.73b between January-August 2024.
India warns against fraudsters’ posing as central bank employees
They would use fake letterheads or threaten to close bank accounts.
India names first self-regulatory organisation for fintechs
There are two more applications pending, according to the central bank.
Regulators' push to curb tech outages may boost bank expenses by 20%
Banks in South and Southeast Asia must enhance tech systems or face firmer penalties.
India mandates banks to issue fraud notices: report
The time allotted to respond should not be less than 21 days.
India rolls out online platforms and repositories for enhanced regulation
PRAVAAH makes it easier to apply for a license and obtain regulatory approval.
India’s central bank names new executive director
Shri R. Lakshmi Kanth Rao was previously a head at the department of regulation.
India changes criteria for small banks seeking to be universal banks
Net worth lowered, but must be profitable in the past two years.
India floats regulations for non-bank POS payment aggregators
They are required to apply authorisation from the RBI by May 2025.
India rejects 2 applicants for a small finance bank licence
Two other applications remain under examination.
India’s private banks’ NIMs contract 32 basis points in Oct-Dec 2023
Growth in unsecured loans is expected to slow, which will impact credit growth and NIMs.
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