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This year’s hackathon’s theme calls upon the participants to distinguish and develop innovative concepts that can modify the country’s digital payment and settlement system landscape.
The RBI said that capital, asset quality, and leverage would be critical for monitoring the updated structure. The framework was last updated in April 2017.
RBI directed that there will be no restrictions on opening current accounts or provision of cash credit or overdraft facilities by banks for borrowers whose banking system exposure is less than Rs 5 crores.
As per the announcement made by the RBI, the new SBR framework will take under its wing different aspects of regulations for NBFCs, covering characteristics such as capital requirements, governance standards and prudential regulations, among others.
The COVID-19 easing projects such as the restructuring dispensation and the Emergency Credit Line Guarantee Scheme (ECLGS) will help curb the rise.
The sources also cited that the reason EY chose the three US-based firms to be Yes Bank’s equity partners is their suggestive plans for the proposed ARC.
The card-on-file tokenisation service will be operative across a myriad of e-commerce platforms such as MakeMyTrip and Bigbasket.
The development arrives a week after creditors of the SREI Group declined the top management's offer to give the company a one-year delay from any sort of action to obtain dues calculated at around Rs. 35,000 crore.
A news report emerged in Mint newspaper citing a whistleblower's letter to the regulator claiming that HDFC Bank does not report fake loan applications to authorities and charges the processing fee in this case.
The base interest rate to be charged to the borrowers has been set to 7.95 per cent for the fourth quarter, down 0.2 per cent from the last quarter.
The ban of Mastercard Inc from issuing new cards has been criticized privately by senior US trade officials naming it a "draconian" move that caused "panic."
Banks across India will be observing holidays for 12 days this month, Out of which, five holidays are falling this week.
ICICI Bank is the second lender after HDFC Bank and the seventh Indian firm to achieve this milestone.
For ‘on tap’ Licensing of Small Finance Banks The Reserve Bank of India had issued Guidelines on December 5, 2019.
Following which the central bank earmarked immediate notices to the two co-operative banks. At hearing the bank’s reply, the central bank arrived at a cessation that the charges were backed with enough evidence also the warrant imposed (monetary penalty) was absolutely justified.
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