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 …
