Tag Archives: RBI

Retail inflation surged to 5.49% in September 2024 from 3.65% in August, according to data released by the government on Monday. The sharp rise was attributed to a significant increase in food prices, pushing inflation well above the Reserve Bank of India's (RBI) comfort zone.

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.

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.

Paytm's parent company, One97 Communications, is reportedly planning significant job cuts amid financial challenges. The company may reduce its workforce by 15-20%, which translates to around 5,000-6,300 employees, in an effort to reduce employee costs by ₹400-500 crore this fiscal year, according to a report by the Financial Express.

India's consumer inflation has hit an 11-month low, registering at 4.83% in April compared to the previous year, as per data released by the Ministry of Statistics and Programme Implementation. However, despite this overall moderation, food prices have surged, reaching a four-month high.

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.

PayU Payments, a prominent player in the fintech sector, has achieved a significant milestone with the Reserve Bank of India (RBI) granting it approval to operate as a payment aggregator. This development marks a pivotal moment for PayU, coming after 15 months of discussions and initial challenges.

India's retail inflation has hit a 10-month low, standing at 4.85% for the month of March 2024, compared to 5.09% in the previous month. This decline, below earlier predictions, marks a significant easing in inflationary pressures.

The Reserve Bank of India (RBI) has taken strict regulatory action against IDFC First Bank and LIC Housing Finance, imposing penalties for non-compliance with certain norms. Additionally, the RBI has canceled the certificate of registration of four Non-Banking Financial Companies (NBFCs) and received voluntary surrenders from five other NBFCs.

The Reserve Bank of India (RBI) has unveiled a significant initiative that will revolutionize banking transactions by enabling cash deposits through the popular Unified Payments Interface (UPI). This announcement was made during the first bi-monthly monetary policy of the current financial year by RBI Governor Shaktikanta Das.