Bank credit growth accelerated to 14.2% in the June quarter: RBI Data
The statistics showed that the credit-deposit (C-D) ratio has increased as credit growth has recently outpaced deposit growth.
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Digital lending regulations: Impact on businesses, buy now pay later products and more
The digital lending sector has been waiting for a regulatory framework and needed clarity on multiple facets. Now there is now a clear indication of the key themes of regulation for digital lending in India.
Cabinet approves expanding Emergency Credit Line Guarantee Program to support the travel and tourist industries
According to I&B Minister Anurag Thakur, the additional funding will be available for the travel, tourist, and hospitality industries.
Loan recovery agents are instructed by the RBI not to call before 8 am or after 7 pm
These amendments have broadened the standards' application while limiting the times that borrowers may be reached by phone to collect past-due debts.
RBI cancels the license of the Rupee Cooperative Bank Ltd, Pune
With effect from September 22, 2022, Rupee Co-operative Bank Pune will no longer conduct banking operations.
RBI release the first set of guidelines for online lending
A working committee was established by the RBI in January 2021 to investigate problems with digital lending and recommend restrictions. The panel proposed stronger regulations for digital lenders in November 2021, some of which were accepted by RBI.
Economy is an island of macroeconomic and financial stability: RBI Governor
Shaktikanta Das noted that despite two Black Swan occurrences occurring simultaneously and several shocks, financial stability, macroeconomic stability, and growth resilience are being observed.
Home loan EMIs will rise as the RBI raises the repo rate
After the RBI's August Monetary Policy, the interest rate is anticipated to increase from 6.5 to 7 percent for borrowers who took out home loans before April to roughly 8%.
Bharat Bill Payment would make it easier for NRIs to pay their bills in India with inward gross payments
Shaktikanta Das, governor of the Reserve Bank of India (RBI), stated on August 5 that the Bharat Bill Payment System will make it easier for NRIs to pay bills in India using inbound gross payments.
RBI raises the key rate by 0.50 percent to pre-pandemic levels of 5.40%
The RBI increases its benchmark lending rate for the third time in a row, by 50 basis points, to the pre-pandemic level of 5.40 percent.
RBI plans to increase policy repo rates for the third time in a row to control inflation
Analysts and economists disagree on the extent of the rate increase, even though it is almost certain that policy interest will rise. Between 25 and 50 basis points can be found in the range.
India’s manufacturing PMI expands at its quickest pace in 8 months
The second fiscal quarter got off to a good start for Indian manufacturers, with significant production increases and new business growth.
Policy watchers, economists give mixed reactions to RBI hiking repo rate
The policy watchers and economists gave a mixed reaction to the Reserve Bank of India (RBI)'s announcement of hiking policy repo rate by 50 basis points (bps) to 4.90 per cent with immediate effect.
RBI raises retail inflation forecast for FY2023 by 6.7%
RBI MPC has increased the prediction for inflation to 6.7%, and MPC has also decided to focus on the withdrawal of accommodation.
RBI hikes repo rate by 50 bps to 4.90%
Rate increase follows an out-of-cycle increase last month. The RBI slashed the repo rate in March 2020 to mitigate the impact of a covid-induced lockdown,
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