Bank of India (BOI) to have its place as 8th lender to come under the Reserve Bank of India’s (RBI) prompt corrective action (PCA) as bad loans ascend

With the closure of Reserve Bank of India’s (RBI) deadline to resolve the 28 identified large stressed accounts in the second list, banks are gearing up to

The Reserve Bank of India cancelled a scheduled bond auction on Friday, triggering a rally in the bond yields, where climbed 18-month high a day

Reserve Bank of India (RBI) has alleged corporative societies not use the word ‘Bank’ in their names as it violates the Banking Regulation Act. It has come to the notice of RBI that some co-operative Societies are using the word “Bank” in their names. This is a violation of Section 7 of the Banking Regulation … Continue reading “Word “Bank” cannot be used in Names alleged by RBI”

Non-Banking Financial Companies (NBFC) cannot outsource core management functions like internal audit, strategic and compliance functions for your Know Your Customer (KYC) norms, the sanction of loans and management of investment portfolio. As per notification number RBI/2017-18/87 on RBI’s website, Access to customer information by the staff of the service provider shall be on ‘need … Continue reading “New outsourcing norms for NBFC released by RBI”

Reserve Bank will soon be initiating a campaign “Suno RBI Kya Kehta Hai” against fake offers. The campaign will run through SMSes to warn the public against falling prey to unsolicited and fictitious offers from fraudsters. The Reserve Bank of India- India’s central bank will soon launch this campaign. The motive will be to educate … Continue reading “RBI soon to start a campaign against fake offers”

Six months after setting up an independent committee to oversee interest rates, the government is expressing frustration that RBI chose not to ease monetary policy.

RBI signals end to rate cuts as inflation risks rise RBI keeps policy rate on hold, with eyes on inflation RBI keeps policy rate on hold for second meeting in a row.

The Reserve Bank of India (RBI) on Thursday maintained status quo on policy rate by leaving the repurchase rate (or repo rate) unchanged at 6.25 per cent in its first bimonthly policy of FY18. The central bank also kept the cash reserve ratio unchanged at 4 per cent. However, it raised the reverse repo rate … Continue reading “RBI drift from rate focus, targets cash surplus, health of banks”