[ad_1] More recently, as public and private banks accelerated their growth trajectory, this methodology of social reputation certification was no longer feasible. Additionally, with the advances in digital public infrastructure (mobile internet, Aadhaar, UPI, etc) and programs such as Jan Dhan Yojana, India undertook the massive exercise of getting a bank account for all eligible…
[ad_1] The reasoning was that monetary policy is more effective in counteracting price pressures that arise out of excess aggregate demand, whereas food inflation is usually on account of supply constraints. In contrast, the Reserve Bank of India (RBI) governor recently spoke after the monetary policy meeting and observed that food inflation is a major…
[ad_1] In 2022-23, it collected gross premiums of ₹21,381 crore, with investment income at ₹11,908 crore, and revenue surplus after tax at ₹24,559 crore. As an insurance company, it has an actuarial valuation for liability as of 31 March 2023 at ₹12,174 crore, but surplus collection to date beyond actuarial liability totalled ₹1,57,427 crore. The…
[ad_1] The Reserve Bank of India (RBI) has issued the framework for recognition of self-regulatory organisation (SROs) in financial markets. This framework released on Monday was done in the aftermath of ‘Omnibus Framework for recognition of SROs’ which were issued early this year in March, 2024. It is noteworthy that RBI recently invited applications for…
[ad_1] The scorching summer that India just trudged past was yet another reminder of a rapidly warming Earth, with temperatures soaring to almost 50° Celsius in one of our longest heatwave spells. The country logged more than 40,000 suspected cases of heatstroke, with a death toll of over 100 people. But 2024 stands out for…
[ad_1] Have you ever wondered what you would do if you had a fixed deposit with an NBFC but wanted to prematurely withdraw it due to an emergency? Well, the latest guidelines issued by the Reserve Bank of India (RBI) make provision for this. The banking regulator released a regulatory framework via a circular dated…
[ad_1] Indian regulators and policymakers have amplified their call for banks to become innovative in raising deposits. This low-cost source of funds is trailing the pace of bank lending, and if credit-deposit gaps persist, lenders would either need to rely more on costlier sources or go slow on credit, which could drag the growth of…
[ad_1] Mumbai: The Reserve Bank of India (RBI) on Monday said housing finance companies (HFCs) will need to have higher liquid assets to back deposits, and allowed these lenders to issue co-branded credit cards, in a move to put them at par with their non-bank financier counterparts. These mandates were first proposed in draft guidelines…
[ad_1] A new Bill proposed in the Parliament has a provision which says that deposit and locker holders can name up to four nominees instead of one. The Bill that carries this provision is Banking Laws (Amendment) Bill which was introduced in Lok Sabha on Friday. The Bill also has provisions for new reporting dates…
[ad_1] Finance minister Nirmala Sitharaman on Saturday urged banks to return to their core focus of deposit mobilization and lending, emphasizing the need to balance these two critical elements of the banking business. Addressing the media after attending the 609th meeting of the Reserve Bank of India’s central board of directors, Sitharaman likened deposits and…
