The Reserve Bank of India(RBI) has started monitoring the liquidity position,asset-liability gap and repayment schedules of housing finance companies(HFCs) on a daily basis. The move to monitor HFCs on a daily basis comes after some HFC had gone into liquidity crisis which had resulted in defaults.This crisis had started since the debt default by IL&FS… Continue reading RBI begins monitoring HFCs
Tag: RBI
Payments data must be saved locally: RBI
The Reserve Bank of India (RBI) has clarified that payment system providers need to store entire payments data in a system only in India. The data should include end-to-end transaction details and information pertaining to payment or settlement transaction that is gathered, transmitted as part of a payment message or instruction. The data could be… Continue reading Payments data must be saved locally: RBI
Sinha-led panel proposes ₹5,000 crore stressed asset fund for MSMEs
A Reserve Bank of India(RBI) expert committee tasked with reviewing the current framework for the micro,small and medium enterprises (MSMEs) has submitted its report. The committee has recommended a ₹5,000 crore distressed asset fund for micro,small and medium enterprises (MSMEs). The fund will assist units in a cluster where there is a change in the… Continue reading Sinha-led panel proposes ₹5,000 crore stressed asset fund for MSMEs
RBI union moots collegium to select governors, deputy governors
The RBI union has proposed a Collegium of experts to appoint governors and deputy governors to ensure central bank autonomy and independence. The collegium should comprise former RBI governors,other prominent central bankers and economists. The recent resignation of the RBI deputy governor at least six months before his term expired is the trigger for mooting… Continue reading RBI union moots collegium to select governors, deputy governors
RBI’s customer-complaint processing goes digital
The Reserve Bank of India(RBI) has launched a Complaint Management System (CMS).It is a software application to facilitate RBI’s grievance redressal processes. Customers can lodge complaints against any entity regulated by RBI with public interface such as commercial banks, urban cooperative banks,Non-Banking Financial Companies(NBFCs). This system will make sure that every complaint is received and… Continue reading RBI’s customer-complaint processing goes digital
RBI to DRI: We can’t ask banks to share customer information
The Reserve Bank of India(RBI) has said that it has no power to ask banks to share information on customers with third parties including investigative agencies of the government even if it is in the interests of the bank. The RBI’s response came on a request by the Directorate of Revenue Intelligence(DRI) which sought RBI’s… Continue reading RBI to DRI: We can’t ask banks to share customer information
RBI panel on MSMEs suggests Rs 20 lakh collateral-free loan under Mudra
A Reserve Bank of India(RBI) expert committee tasked with reviewing the current framework for the micro,small and medium enterprises (MSMEs) has submitted its report. The panel has recommended doubling the cap on collateral-free loans to Rs 20 lakh from the current Rs 10 lakh.This will be extended to borrowers falling under the Mudra scheme,self-help groups… Continue reading RBI panel on MSMEs suggests Rs 20 lakh collateral-free loan under Mudra
‘Financial stability is a key theme for monetary policy’
The Reserve Bank of India(RBI) governor has highlighted the importance of the central bank’s role in maintaining financial stability. Financial stability can be defined as a condition in which the financial system is not unstable.It can also mean a condition in which the three components of the financial system which are financial institutions, financial markets… Continue reading ‘Financial stability is a key theme for monetary policy’
Will take fresh look at framework to supervise NBFCs: RBI Governor Shaktikanta Das
The Reserve Bank of India(RBI) Governor has said that the RBI is giving a fresh look at the regulatory and supervisory framework of the Non-banking Financial Companies(NBFCs). The RBI Governor said that the Reserve Bank will continue to monitor the activity and performance of NBFC sector with a focus on major entities and their inter-linkages… Continue reading Will take fresh look at framework to supervise NBFCs: RBI Governor Shaktikanta Das
Jalan panel report on RBI reserves by June end
RBI had constituted a panel on economic capital framework to address the issue of RBI reserves.It is headed by Bimal Jalan.The panel will meet one more time before finalising its report. The panel was formed after the government has said that the RBI should hand over its surplus reserves amid a shortfall in revenue collections.… Continue reading Jalan panel report on RBI reserves by June end
