Tag Archives: RBI

“RBI Expected to Maintain Repo Rate at 6.5% in Upcoming MPC Meeting, Rate Cut Likely in February: Report”

No Change Expected in Repo Rate at Next Week's RBI MPC Meet, But Rate Cut Likely in February: Report

The Reserve Bank of India (RBI) is expected to maintain the current repo rate of 6.5% during its final monetary policy committee (MPC) meeting of the year next week, according to HDFC Bank. The country's largest private sector bank, in a report, projected that the RBI would hold the repo rate steady, marking the 11th consecutive time since the last hike in February 2023.

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RBI Appoints Director to Bandhan Bank Board Amid Profit Decline

The Reserve Bank of India (RBI) has taken a significant step by appointing an additional director to the board of Bandhan Bank in response to the private lender's recent performance struggles, leading to a notable drop in profits. This decision, made under the purview of the Banking Regulation Act, reflects the regulatory authority's proactive approach to overseeing bank operations and ensuring stability within the financial sector.

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RBI Imposes Heavy Fines on Central Bank of India and Sonali Bank

RBI Imposes Heavy Fines on Central Bank of India and Sonali Bank for Non-Compliance

The Reserve Bank of India (RBI) has levied significant fines on two banks for non-compliance with regulatory norms. The Central Bank of India has been fined ₹1.45 crore, while Sonali Bank PLC's Indian wing has incurred a penalty of ₹96.4 lakh. These fines were imposed due to violations related to customer protection and Know Your Customer (KYC) norms, according to a report by PTI.

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“RBI Warns Public About Unlawful Prepaid Payment Instruments”

RBI Issues Alert Against Unauthorized Prepaid Payment Instruments: Caution Urged for Public

The Reserve Bank of India (RBI) has issued a red alert against unauthorized Prepaid Payment Instruments (PPIs) issued by certain entities, cautioning the public to exercise vigilance when dealing with such platforms. The alert specifically mentions TalkCharge Technologies Pvt. Ltd., located in Gurgaon, Haryana, for issuing PPIs without the necessary authorization from RBI.

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