Hours after RBI’s move to increase repo rate by 35 basis points, a number of lenders, including Bank of India and HDFC Bank, on Wednesday […]
Tag: rbi
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 […]
Govt to allow foreign funds to own over 51% in IDBI Bank
The Indian government will allow a consortium of foreign funds and investment firms to own more than 51% in IDBI Bank Ltd, according to a […]
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 […]
Share of loans to industry sector in bank credit declines to 25 per cent
With increase in borrowings by the manufacturing firms, the share of loans to the industry sector in bank credit has declined to almost 25 per […]
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 […]