The Reserve Bank of India(RBI) has announced that it is removing all charges on money transfers done through the RTGS and NEFT modes.This decision was taken to boost the digital funds movement. NEFT stands for National Electronic Fund Transfer.It is a payment system which facilitates one-to-one funds transfer from one financial institution to another. Using… Continue reading RBI waives RTGS, NEFT charges
Tag: RBI
RBI study moots boost to acceptance infra for digital payments
The Reserve Bank of India(RBI) has released a report titled “Benchmarking India’s Payments Systems”.The report provides a comparative position of the payments ecosystem in India relative to comparable payments systems and usage trends in other major economies. The study has found that India has a strong regulatory system and robust large value and retail payments… Continue reading RBI study moots boost to acceptance infra for digital payments
RBI may cut interest rate by at least 25 bps on June 6: Experts
According to experts,the Reserve Bank of India’s Monetary Policy Committee (MPC) may cut the interest rate to boost up the economic growth which dropped to a five-year low in the final quarter of 2018-19. The rate cut is needed to address weakening credit availability as Non-banking financial companies(NBFCs) remain in turmoil representing a significant bottleneck… Continue reading RBI may cut interest rate by at least 25 bps on June 6: Experts
RBI forms task force on corporate loans
The Reserve Bank of India has constituted a task force on the development of secondary market for corporate loans under T N Manoharan. The task force has also been asked to make recommendations for creation of a loan contract registry to remove information asymmetries between buyers and sellers ownership structure and standardisation of loan information,… Continue reading RBI forms task force on corporate loans
Disclose names of big defaulters, CIC tells RBI
The Central Information Commission(CIC) has directed the Reserve Bank of India to disclose the list of big loan defaulters it had sent to banks for resolution. The CIC’s directive came on a plea who had based her RTI application on some reports that RBI Deputy Governor had said that accounts of some loan defaulters have… Continue reading Disclose names of big defaulters, CIC tells RBI
RBI plans liquidity buffer at shadow banks to aid stressed sector
The Reserve Bank of India (RBI) has released the draft circular on Liquidity Risk Management Framework for Non-Banking Financial Companies(NBFCs) and Core Investment Companies (CIC’s) for public comments. The NBFCs play an important role in delivering credit to the last mile, including the retail as well as MSME sectors. However,many NBFCs have come under severe… Continue reading RBI plans liquidity buffer at shadow banks to aid stressed sector
RBI to infuse ₹15,000 cr. in June via OMO
The Reserve Bank has said it will inject Rs 15,000 crore into the financial system through purchase of government bonds via the auction route.The government securities will be bought under Open Market Operations (OMO). This decision was taken as financial sector has been facing liquidity crisis ever since the Infrastructure Leasing and Financial Services Ltd… Continue reading RBI to infuse ₹15,000 cr. in June via OMO
RBI to create regulatory cadre
The Reserve Bank of India(RBI) Central board has decided to create a specialised supervisory and regulatory cadre within the RBI to strengthen the supervision and regulation of commercial banks, urban cooperative banks and non-banking financial companies. The RBI’s decision to create a specialised regulatory cadre is important in light of increasing complexity of the regulated… Continue reading RBI to create regulatory cadre
RBI against special NBFC window
The Reserve Bank of India (RBI) is not ready to offer a special lending window to stressed non-banking finance companies(NBFCs).The RBI may have to provide liquidity to all the NBFCs approaching it for funds if such a special window is opened. NITI Aayog has made a strong case before RBI for a special lending window… Continue reading RBI against special NBFC window
After RBI, Sebi & IRDAI launch initiatives to boost startups
Securities and Exchange Board of India(SEBI) and the Insurance Regulatory and Development Authority of India(IRDAI) has announced sandbox initiative to encourage startups in their segments by making data and systems available to them. A sandbox is an enabling infrastructure or interface which is made available to an outside innovator or fintech by a bank so… Continue reading After RBI, Sebi & IRDAI launch initiatives to boost startups
