Reserve Bank of India (RBI)

Airtel Payments Bank gets scheduled bank license from RBI

The central banker announced the inclusion of Airtel Payments Bank under the second schedule of the RBI Act, 1934.

Gross NPAs of Banks likely to increase to 9.5% by September 2022: RBI

A non-performing asset (NPA) refers to a classification for loans or advances that are in default or arrears.

RBI extends CoF tokenisation deadline by six months

The decision came when the Merchant Payments Alliance of India (MPAI) and the Alliance of Digital India Foundation (ADIF) posited their concerns over industry readiness on the recent Reserve Bank of India (RBI) directive on card-on-file tokenization (CoF).

Cash circulation increased by 16.7% as compared to cash flow in 2020: RBI data

A recent report by SBI Ecowrap shows that currency in circulation is expected to be lower at about 13.1 per cent of GDP in 2021-22.

RBI maintains its position as net buyer of US currency in September: Report

In the reporting month, the central bank had purchased USD 9.169 billion and traded USD 8.378 billion in the spot market, the monthly RBI bulletin for November 2021, published on Monday, revealed.

RBI launches its first global hackathon ‘HARBINGER 2021– Innovation for Transformation’

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. 

RBI lifts restrictions on Diners Club International, allowing it to onboard new customers

The RBI had barred Diners Club International from onboarding fresh customers on its card network through the issuance of a notice earlier this year on April 23.

RBI issues new guidelines for current account holders, Check details here

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. 

Shaktikanta Das to serve as RBI Governor for another 3 years

In a statement, the decision was announced to be effective beginning from the end of Shaktikanta Das’ first term on December 10.

RBI issues licence for small finance bank to Centrum & BharatPe

The statement added that Centrum’s MSME and Micro Finance businesses shall be joined into Unity Small Finance Bank. 

RBI issues order debarring Haribhakti & Co. LLP from handling audit assignments of RBI regulated entities

This is the first instance of disablement of a chartered accounting firm under section 45MAA of the Reserve Bank of India Act, 1934, which authorises the banking regulator to take action against auditors if they fail to comply with any direction given or order made by the RBI under the Act.

RBI Monetary Policy Committee announces repo rate and CPI inflation, maintains its accommodative stance

Monetary Policy Committee (MPC) in its bi-monthly Monetary Policy Meeting maintained its stance on the repo rate, keeping it unchanged for the eighth consecutive time at 4 per cent.

RBI prescribes ‘fit and proper’ qualification for MDs and WTDs of urban cooperative banks

RBI restricts American Express and Diners Club from on-boarding new customers from 1 May

Reserve Bank of India (RBI) has imposed the restrictions on American Express Banking Corp and Diners Club International by an order dated April 23, 2021.