The national consumer court has ruled that banks are not required to inform each borrower individually about any automatic change in interest rates under the […]
Tag: banks
UPI payment limit: This is the daily amount one can spend using GPay, PhonePe, and Paytm
Amazon Pay has also set a Rs 1,000,000 maximum money transfer limit via UPI. Notably, users can only transact up to INR 5,000 in the […]
Banks should not ask for verification at branch level if customer does e-KYC, says RBI
India’s Reserve Bank on Wednesday directed banks to not ask their customers for a physical verification at the branch, if they have already performed an […]
RBI response sought on PIL seeking uniform banking code for forex transactions
The Delhi High Court on Monday sought the response from the Reserve Bank of India on a public interest litigation seeking uniform banking code for […]
Banks have ceded UPI space to nonbanking sector: RBI Dy Guv
Banks have ceded the unified payments interface space to non-banks, Reserve Bank of India deputy governor T Rabi Sankar has said. Sankar also said the […]
RBI cautions banks against frauds in accounts linked to direct benefit transfer
he Reserve Bank of India (RBI) has cautioned banks against increasing instances of fraud in accounts linked to the government’s direct benefit transfer (DBT) and […]
Branches of Indian banks in overseas can deal in financial products not permitted in domestic market
The Reserve Bank on Thursday allowed with certain riders foreign branches and subsidiaries of Indian banks to deal in financial products that are not specifically […]
RBI comes out with four-tiered regulatory framework for urban cooperative banks
The Reserve Bank of India (RBI) on Thursday announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs), Besides, the central bank has […]
Strong bank loan growth in FY23 despite higher interest rates: Fitch
Fitch Ratings on Monday said India’s bank credit will see strong growth in current financial year despite effects of higher interest rates. It said the […]
Bank credit grows to 17.2 per cent in September, reveals RBI data
The Reserve Bank of India (RBI) on Monday released quarterly statistics on deposits and credit highlighting bank credit growth to 17.2 per cent on an […]