Crypto activities require international regulation: RBI
The Reserve Bank of India (RBI), noting the unrest in the market for crypto assets, has proposed a framework for international regulation of such crypto operations.
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RBI notifies bank holidays for 2023
The Reserve Bank of India has notified holidays for 2023. The public sector, private sector banks, cooperative banks, regional banks and foreign banks adhere to the holiday notifications of the Reserve Banks of India.
RBI will add new UPI payment features that permit multiple debits
The new UPI feature is anticipated to make investing in securities and making payments for online purchases easier.
RBI will introduce the retail digital rupee on December 1 on a pilot basis
A digital token that stands in for legal cash will be used to represent the retail digital rupee. Digital currency will be issued by the RBI in the same denominations as paper money and coins.
Bank credit growth increased to 17.2% during July-September: RBI
Since December 2020, bank branches in metropolitan areas have experienced greater annual growth than those in rural, semi-urban, and urban areas, according to the RBI report.
Banks to remain closed on these days in October 2022; Check out full list of holidays here
The list of bank holidays for the month of October has been made public by the Reserve Bank of India (RBI).
RBI lowers the current financial year’s GDP forecast to 7% from 7.2%
The Reserve Bank of India (RBI) on Friday lowered its prediction for India's GDP for the fiscal year 2022–2023 from 7.2% to 7%.
Deputy governor of the RBI has proposed a new data law to protect customers’ privacy
T Rabi Sankar was of the view that the new regulation is essential to protect consumers privacy but the monetisation of customer data can be done in a responsible manner.
RBI will compile a list of authorised digital lending applications to weed out unethical ones
In an effort to eliminate digital lending apps that engage in unethical lending and recovery activities, the centre is increasing its monitoring of these apps.
RBI launches a pilot scheme to digitise the KCC with the goal of transforming rural credit delivery
According to a statement from the RBI, it is intended to progressively spread the digitalization of KCC lending to additional districts in these two states and across the nation based on the lessons learned from the trial.
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.
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.
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