Tag Archives: RBI

In a significant move aimed at promoting digital transactions and enhancing convenience for commuters, the Reserve Bank of India (RBI) has announced that prepaid payment instruments (PPIs) managed by both banks and non-banking institutions can now be utilized for making payments across various public transport systems.

In response to regulatory directives from the Reserve Bank of India (RBI), Paytm Payments Bank, a subsidiary of One 97 Communications (OCL) - commonly known as Paytm, has taken proactive measures to navigate through its current operational challenges. The RBI had earlier instructed Paytm Payments Bank to cease accepting fresh deposits in its accounts and wallets by February 29, subsequently extending the deadline to March 15.

The Reserve Bank of India (RBI) has fined L&T Finance ₹2.5 crore for failing to comply with specific provisions of non-banking financial company regulations. The penalty addresses deficiencies in compliance without making judgments on transaction validity.

The Reserve Bank of India (RBI) has penalized Union Bank of India with a Rs 1 crore fine and RBL Bank with a Rs 64 lakh fine for non-compliance with regulatory directions and violations, respectively. The penalties were issued after a thorough review of the banks' responses and oral submissions made during the personal hearing.

The Reserve Bank of India (RBI) reiterates that September 30, 2023, is the final day for exchanging ₹2,000 denomination banknotes, after which they will lose their value.

The Reserve Bank of India (RBI) has given its nod to the re-appointment of Sashidhar Jagdishan as the Managing Director and Chief Executive Officer (CEO) of HDFC Bank, extending his tenure for three more years, from October 2023 to October 2026.

The RBI introduces the UDGAM portal, enabling depositors to track and claim unclaimed deposits across multiple banks. The user-friendly platform aims to empower users by simplifying the process of identifying and retrieving their dormant funds.*

Post-Budget RBI Board Meeting Highlights: FM Sitharaman, while addressing the press conference said that it is up to the people decide what to do with their money, to save or spend. ”Why should the government induce anything or discourage anything?, she added. Post-budget RBI Board Meeting Highlights: The RBI’s central board …

RBI repo rate hike: There will be a direct impact on both bank depositors and new loan borrowers. The money laundering case stems from separate FIRs filed by the Punjab Police under various sections of the NDPS Act against Gurdeep Singh Rano and Rajesh Kumar.Four out of six members of …