Fed Chair Jerome Powell "Uncertainty about the economic outlook has...
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Banks tighten cyber security network to ward off any threat
"We have strengthened the cyber security mechanism… we have created...
Govt moving ahead with IDBI Bank disinvestment plan in current fiscal: DIPAM Secy
Arunish Chawla,Secretary ,Department of Investment and Public Asset...
Inter-Regulatory Technical Group on FinTech issues norms for approving hybrid regulatory Sandbox
In order to facilitate testing of innovative products/services falling within the regulatory ambit of more than one financial sector regulators viz. RBI, SEBI, IRDAI, IFSCA and PFRDA, a Standard Operating Procedure (SOP) for Standard Operating Procedure for...
Financial bids for IDBI Bank likely to be invited by March, sale process to conclude next fiscal: Officials
Private sector banks, foreign banks, Reserve Bank of India(RBI) registered non-banking finance companies, Sebi-registered Alternative Investment Funds (AIFs), a fund/investment vehicle incorporated outside India would be allowed to submit bids, either individually or...
Finance ministry mulls steps to curb cheque bounce cases: Report
Some of the steps suggested before taking legal recourse included debiting another accounts of the cheque issuer if his or her account is short of funds to honour the instrument, sources said The other suggestions were treating cheque bounce as default of loan and...
IDBI Bank bidders need to seek MHA security clearance in the first stage of bidding process
The DIPAM last week invited EoIs from prospective bidders of IDBI Bank offering to sell 60.72 per cent stake together with LIC. The last date for putting in bids is December 16 New Delhi: In a first, the government has made it mandatory for interested buyers of IDBI...
RBI announces digital rupee. E-Rupee to launch soon on pilot basis
The concept note also discusses key considerations such as technology and design choices, possible uses of the digital rupee, and issuance mechanisms, among others Mumbai: The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific...
RBI plans to extensively use AI, ML to improve regulatory supervision
The supervisory jurisdiction of the RBI extends over banks, urban cooperative banks (UCB), NBFCs, payment banks, small finance banks, local area banks, credit information companies and select all India financial institutions The Reserve Bank is planning to extensively...
Asian Development Bank to provide $2.3-$2.5 bn for flood ravaged Pakistan
According to the federal government's estimate, the floods have caused a collective loss of more than USD 40 billion Islamabad: The Asian Development Bank on Wednesday announced that it will provide USD 2.3 to 2.5 billion for relief operations in the wake of...
FinMin to launch special campaign for financial inclusion from Oct 15
''To further deepen Financial Inclusion (FI) framework, @DFS_India will organise a special campaign from 15th October 2022 to 26th November 2022, which will initially be rolled out at the Gram Panchayat (GP) level in following seven districts across India-- Cuttack,...
Regulations for offline payment aggregators to be at par with online peers, says RBI
RBI, Governor Shaktikanta Das said there will be ''convergence on standards of data collection and storage'' after the move, meaning that such companies will not be able to store details like those of credit and debit cards of a customer Mumbai: Regulations for...
RBI raises key policy rate by 50 bps to rein in inflation, slashes growth target to 7.2% from 7%
RBI retained the inflation projection at 6.7 percent for the current fiscal while slashing the real GDP growth estimate to 7 percent from the earlier forecast of 7.2 percent for FY'23. India's annual retail inflation rate accelerated to 7% in August, driven by a surge...