M Nagaraju, Secretary, Department of Financial services At the...
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High employee attrition of 25% in private banks pose operational risk: RBI
"High attrition and employee turnover rate pose significant...
Climate change risks impacting financial system, need India-specific data: RBI’s Dy Gov
“Over the last few years, we have taken several incremental...
RBI slaps Rs 5.39 crore penalty on Paytm PB for violating series of norms
The central bank also found non-compliance with certain provisions related to 'RBI Guidelines for Licensing of Payments Banks', 'Cyber security framework in banks' and 'Securing mobile banking applications including UPI ecosystem' Mumbai: The Reserve Bank of India on...
RBI bars Bank of Baroda from more customers on bob World app
"This action is based on certain material supervisory concerns observed in the manner of onboarding of their customers onto this mobile application. Any further onboarding of customers of the bank on the 'bob World' application will be subject to rectification of the...
RBI retains repo rate; GDP growth at 6.5%, inflation at 5.4%
Shaktikanta Das,Governor,RBI Das said taking into account the economic factors the MPC has predicted GDP growth at 6.5 per cent in FY24 As regards the inflation rate, the MPC forecast was 5.4 per cent for 2023-24 taking into account the various domestic issues...
With mobile handheld devices, SBI takes banking to doorsteps
Bank also plans to include services such as enrolments under social security schemes, account opening, remittance and card-based services under this facility shortly State Bank of India on Wednesday introduced banking through mobile handheld devices for its customers...
RBI brings 30 banks on UDGAM portal to help search for unclaimed deposits
The UDGAM portal has been developed by RBI for use by members of the public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place Mumbai: The Reserve Bank of India (RBI) has brought 30 banks on board its...
India becomes 4th-highest funded fintech startup ecosystem globally
The sector witnessed significant growth in specific segments with alternative lending, banking tech and RegTech emerging as top performers in the first half this year Bengaluru: India’s fintech sector saw a 68 per cent surge in funding in the July-September period...
After NCLT snub, Torrent Investment once again knocks SC’s doors
In a fresh Letter of Urgency, Torrent Investment has stated that during the pendency of its appeals before the SC, the Committee of Creditors (COC) of Reliance Capital have not only conducted the second round of auction, but approved the resolution plan of IIHL and...
RBI extends deadline for deposit,exchange of Rs 2000 banknotes till Oct 7
The central bank said that from October 8, Rs 2000 banknotes can continue to be exchanged by individuals at the 19 RBI Issue Offices up to a limit of Rs 20,000 at a time Mumbai: The Reserve Bank of India(RBI) on Saturday said that the deadline for deposit/exchange of...
JPMorgan pays $75 million to settle lawsuit over Jeffrey Epstein ties
US Virgin Islands Attorney General Ariel Smith said the settlement was a "historic victory for survivors and for state enforcement, and it should sound the alarm on Wall Street about banks' responsibilities under the law to detect and prevent human trafficking." Last...
India’s economic growth threatened as household savings hit 16-year low
“The household sector is consuming by borrowing more,” said Rupa Rege Nitsure economist with L&T Finance Holdings Ltd. This happens when income level stays stagnant but inflation creeps up. The recovery is not broad-based — while a section splurges on luxury...