Failure of the Punjab and Maharashtra Cooperative (PMC) Bank triggered the Union government into taking action, which resulted in amending the Banking Regulation Act 1949, bringing the cooperative banks within the direct regulatory ambit of the Reserve Bank of India (RBI), putting a full stop...
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Taking cognizance of harassment being suffered by customers from digital or app-based lending platforms, the Reserve Bank of India (RBI) has warned banks and non-banking finance companies (NBFCs) that as lenders they cannot diminish their obligations, as the onus of compliance with regulatory...
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The Reserve Bank of India (RBI) has already initiated macro-economic and financial sector policy measures to ease the impact and pain of the lock-down caused by COVID-19. Key among these are the two interest rate cuts, reduction of reserve requirements for banks to infuse liquidity into the...
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The Reserve Bank of India (RBI) on Friday announced a cut of 25 basis points (bps) in reverse repo rate (short-term borrowing) to 3.75% from 4%. While asking banks not to make any further dividend pay-out, RBI governor Shaktikanta Das says non-performing asset (NPA) classification will...
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Reserve Bank of India (RBI) governor Shaktikanta Das on Monday held a confidence-building press conference to assure Yes Bank depositors that there was no cause to panic when the moratorium on the Bank is lifted on 18th March. He said the central bank would support Yes Bank with liquidity, if...
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