NEW DELHI: Prime Minister Narendra Modi will visit Mumbai on Monday, 1 April, 2024, where he will address the ceremony commemorating 90 years of Reserve Bank of India (RBI). PM Modi is expected to address the event at 11am.Finance minister Nirmala Sitharaman will also be present at the event in …
MUMBAI: RBI deputy governor M Rajeshwar Rao said Saturday that technology and innovations can expand product offerings and financial services to underserved segments at lower costs, but the entry of new players, especially fintech firms, can alter the financial service provider landscape.This can bring new challenges by influencing market concentration …
Last Updated: March 29, 2024, 09:14 IST RBI-designated agency banks will function normally on Sunday, 31 March The Reserve Bank of India has asked all its designated agency banks to remain open on the last day of the financial year. As the current financial year 2023-24 is also set to …
New Delhi: The Reserve Bank of India on Wednesday imposed a Rs 6 lakh fine on Himachal Pradesh’s The Mandi Cooperative Bank for breaching prudential inter-bank exposure limits in FY22.The Mandi-headquartered bank was found to be breaching certain limits, warranting the imposition of the monetary penalty, as per an official statement. …
New Delhi: The Reserve Bank of India (RBI) has announced plans to conduct a special audit to investigate regulatory breaches by IIFL Finance Ltd and JM Financial Products Ltd (JMFPL). This decision comes as the RBI has initiated the process for appointing auditors to thoroughly examine any potential violations. The …
NEW DELHI: Foreign exchange reserves surged by $10.470 billion to reach $636.095 billion by the end of the week ending on March 8, according to the latest data released by the Reserve Bank of India (RBI). This marks the third consecutive week of growth to hit a two-year high.. The …
NEW DELHI: AU Small Finance Bank, which received RBI‘s approval to merge Fincare Small Finance Bank with itself last week, aims to become a universal bank or full-scale bank in the next 3-5 years. “This year we want to stabilise the merger first and really want to showcase to the …
New Delhi: As per the RBI’s bank holidays calendar, March will see bank closures on several days, including the second and fourth Saturdays, Sundays, and national holidays. While all banks close on public holidays, some states additionally observe local holidays. Festivals like Holi and Mahashivratri will be observed in March …
MUMBAI: RBI has asked credit card issuers to set up a system that can ascertain the end use of funds to keep a check on fintechs that attempt to stretch regulatory boundaries. Banks typically pay merchants directly, while aggregators widen the scope by collecting money through cards and making payments …
