RBI Imposes Rs 1.29 Cr fine on 3 Major Banks for lapses in KYC, Customer Service
Posted Date : 19-Apr-2025 , 08:31:30 am | Posted By CASANSAAR
In a significant enforcement action, the Reserve Bank of India (RBI) on Thursday imposed monetary penalties totalling Rs 1.29 crore on three major banks – Kotak Mahindra Bank, IDFC First Bank, and Punjab National Bank (PNB) – for various regulatory non-compliances.
The punitive ...
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RBI Issues Master Direction on Deposits, Accounts for overseas Branches
Posted Date : 18-Apr-2025 , 08:57:56 am | Posted By CASANSAAR
The RBI on Thursday said banks can open/close rupee accounts (non-interest bearing) in the name of their overseas branches or correspondents without prior reference to the central bank.
However, the opening of rupee accounts in the name of branches of Pakistani banks operating outside Pakistan re...
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RBI Cuts Repo Rate For 2nd Time To 6%
Posted Date : 10-Apr-2025 , 07:49:23 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has cut the repo rate by 25 basis points, bringing it down from 6.25% to 6% - a move expected to ease borrowing costs for individuals and businesses.
RBI Governor Sanjay Malhotra announced the decision during the first Monetary Policy Committee (MPC) meeting of F...
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Poonam Gupta's appointment as RBI Deputy Governor
Posted Date : 03-Apr-2025 , 08:35:16 am | Posted By CASANSAAR
The Centre has appointed Poonam Gupta, Director General of the National Council of Applied Economic Research (NCAER), as the Deputy Governor of the Reserve Bank of India (RBI) for a three-year term.
Her appointment comes ahead of the crucial Monetary Policy Committee (MPC) meeting scheduled...
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President Murmu asks RBI, banks to guard against e-frauds
Posted Date : 02-Apr-2025 , 09:26:17 am | Posted By CASANSAAR
President Droupadi Murmu urged the RBI to enhance vigilance against financial fraud and cyber threats as technology advances. She praised the RBI's role in maintaining trust and stability over the past 90 years and emphasized its importance in driving financial innovation and ensuring a secure d...
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RBI imposes Rs.75 lakh penalty on HDFC Bank, Rs.68.2 lakh on Punjab & Sind Bank
Posted Date : 27-Mar-2025 , 09:29:10 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has imposed monetary penalties on HDFC Bank and Punjab & Sind Bank for non-compliance with its regulatory guidelines, according to the press statement issued by the RBI on Wednesday (March 26). While HDFC Bank is slapped with a Rs.75 lakh penalty for violations re...
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RBI approves hike in ATM interchange fees
Posted Date : 24-Mar-2025 , 07:50:34 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has approved an increase in ATM interchange fees, raising charges by Rs 2 for financial transactions and Re 1 for non-financial transactions. The revision, effective May 1, is expected to have a greater impact on smaller banks with limited ATM network.
Banks have n...
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RBI proposes relief from foreclosure charges on floating-rate loans
Posted Date : 06-Mar-2025 , 09:50:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has proposed a policy change aimed at providing significant relief to borrowers by recommending the removal of foreclosure charges on floating-rate loans taken by individuals for non-business purposes. The proposal was mentioned in a draft circular titled 'Respons...
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RBI eases lending rules for small borrowers and NBFCs
Posted Date : 26-Feb-2025 , 11:18:44 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has eased the stricter loan rules for small borrowers and non-bank lenders at a time when the economy is showing signs of slowing down.
The RBI has also put on hold its earlier proposals to increase the capital that banks must set aside for new project loans and th...
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RBI relaxes certain norms for urban co-operative banks
Posted Date : 25-Feb-2025 , 07:25:45 am | Posted By CASANSAAR
India's central bank on Monday revised certain norms for urban co-operative banks (UCBs), with a view of providing them with greater operational flexibility, while meeting regulatory objectives.
UCBs are financial institutions operating in urban and semi-urban areas, offering banking services...
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RBI cut Repo Rate by 25 basis points to 6.25%
Posted Date : 07-Feb-2025 , 12:05:25 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has reduced its key repo rate for the first time in nearly five years to boost the economy. The RBI Monetary Policy Committee (MPC) has unanimously decided to cut the key rate by 25 bps from 6.5% to 6.25%, Sanjay Malhotra said this morning in his first key address aft...
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RBI readies Rs. 1.5 lakh crore injection durable liquidity into the banking system,
Posted Date : 28-Jan-2025 , 07:56:18 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) announced measures to inject durable liquidity into the banking system, including a ?60,000-crore bond purchase and a $5-billion USD/rupee swap auction. These actions are expected to ease liquidity conditions and raise the probability of a repo rate cut in February, p...
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RBI publishes Payment System Report for Dec 2024
Posted Date : 28-Jan-2025 , 07:51:12 pm | Posted By CASANSAAR
The Reserve Bank of India has published the Payment System Report, December 2024. The report analyses the trends in payment transactions carried out using various payment systems in India during the last five calendar years up to CY-2024. It also covers important developments in the payment ecosyste...
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RBI announces measures to inject liquidity into banking system
Posted Date : 28-Jan-2025 , 08:55:18 am | Posted By CASANSAAR
The Reserve Bank of India's (RBI) measures, expected to collectively infuse 1.5 trillion rupees into the banking system, come after months of a cash crunch in the banking system that had pushed up overnight and short-term lending rates.
"The urgency that was being felt in the market has ...
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RBI announces steps to inject liquidity in banking system
Posted Date : 27-Jan-2025 , 07:40:58 pm | Posted By CASANSAAR
MUMBAI: The Reserve Bank of India on Monday said it will purchase government securities worth Rs 60,000 crore in three tranches and announced several other steps to inject liquidity into the banking system.
As part of measures to manage liquidity conditions, the central bank also announced a ...
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RBI's new Guidelines - Banks will call you only from These 2 Numbers
Posted Date : 23-Jan-2025 , 11:40:31 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has recently introduced two dedicated phone number series for financial institutions to make transaction and marketing calls to their customers. This new initiative is designed to protect mobile users from financial frauds disguised as bank communications. According t...
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RBI allowed asset reconstruction companies (ARCs) to settle dues with borrowers
Posted Date : 21-Jan-2025 , 07:09:34 pm | Posted By CASANSAAR
The RBI has revised the guidelines for asset reconstruction companies (ARCs), allowing them to settle dues with borrowers after evaluating recovery possibilities. ARCs are now required to frame a board-approved settlement policy. For accounts with over Rs 1 crore, proposals must still be reviewed by...
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RBI eases norms for ARCs to settle with defaulters
Posted Date : 21-Jan-2025 , 11:32:19 am | Posted By CASANSAAR
The Reserve Bank on Monday asked Asset Reconstruction Companies (ARCs) to go for settlement with borrowers only after exhausting all possible ways to recover dues.
The central bank has revised the 'Master Direction – Reserve Bank of India (Asset Reconstruction Companies) Directions, 202...
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India’s Forex Reserves decline by $8.7 Billion to $625.87 Billion
Posted Date : 18-Jan-2025 , 06:48:46 pm | Posted By CASANSAAR
India’s foreign exchange reserves declined by 8.7 billion dollars to 625.87 billion dollars in the week ending January 10, the latest data released by the Reserve Bank of India (RBI) showed today. In the previous week, the country’s forex reserves had dropped by 5.6 billion dollars for t...
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India’s Economic Growth Poised for Rebound Amid Rising Rural Demand
Posted Date : 18-Jan-2025 , 06:43:58 pm | Posted By CASANSAAR
The Reserve Bank’s monthly bulletin for January 2025 has informed us that India’s economic growth is poised to rebound as domestic demand has started to regain strength. As per the ‘State of the Economy’ article authored by a team led by RBI Deputy Governor Michael Debabrata ...
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RBI injected over Rs. 40,000 crore into the banking system through 2 Auctions
Posted Date : 17-Jan-2025 , 01:46:17 am | Posted By CASANSAAR
RBI injected over Rs. 40,000 crore into the banking system through 2 Auctions
Reserve Bank of India injected over Rs.40,000 crore into the banking system through two operations, addressing a liquidity deficit that breached Rs.2 lakh crore. The RBI accepted Rs.30,760 crore from overnight VRR aucti...
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RBI Announces steps to encourage cross-border transactions in Indian rupee
Posted Date : 16-Jan-2025 , 06:57:40 am | Posted By CASANSAAR
RBI announces steps to encourage cross-border transactions in Indian rupee
MUMBAI: The Reserve Bank of India (RBI) on Thursday announced liberalised norms to encourage use of Indian Rupee and local/ national currencies to settle cross border transactions.
The decision comes at a time when the do...
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RBI Said to ease rupee drought with FX swaps
Posted Date : 13-Jan-2025 , 06:35:36 pm | Posted By CASANSAAR
RBI Said to ease rupee drought with FX swaps
The Reserve Bank of India used dollar-rupee swaps to inject $3 billion worth of rupee liquidity to ease a financial squeeze. This move was made to counteract a tightening of rupee liquidity due to tax settlements and stock purchases. However, this acti...
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Business correspondents Requested RBI to ease domestic transfer limits and rules
Posted Date : 13-Jan-2025 , 04:48:11 pm | Posted By CASANSAAR
Business correspondents Requested RBI to ease domestic transfer limits and rules
Business correspondents have requested the RBI to double the monthly transfer limit to ?50,000 and reduce two-factor authentication to once a month. They have also flagged misuse of the system by some entities to byp...
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RBI guideline for banks & Fin institutions on customer credit information
Posted Date : 08-Jan-2025 , 06:16:42 pm | Posted By CASANSAAR
RBI guideline for banks & Fin institutions on customer credit information
The Reserve Bank of India (RBI) issued directions consolidating various guidelines for banks and financial institutions on reporting customer credit information. As per the directions, credit information companies...
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RBI Issued Master Direction consolidating instructions on credit information of customers
Posted Date : 06-Jan-2025 , 07:08:49 pm | Posted By CASANSAAR
RBI Issued Master Direction consolidating instructions on credit information of customers
The RBI has issued a master direction consolidating instructions for banks and financial institutions on credit information reporting. Credit Information Companies must alert customers when their Credi...
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RBI approves merger of National Co-operative Bank with Cosmos Co-operative Bank
Posted Date : 04-Jan-2025 , 09:23:27 am | Posted By CASANSAAR
Reserve Bank of India on January 3 said it has approved the voluntary merger of The National Co-operative Bank Ltd., Bangalore (Karnataka) with Cosmos Co-operative Bank Limited (Maharashtra).
"The Scheme of Amalgamation has been sanctioned in exercise of the powers conferred under Sub-Sectio...
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RBI expected to cut policy rates by 50 basis points in the first half of 2025
Posted Date : 03-Jan-2025 , 07:45:04 pm | Posted By CASANSAAR
RBI expected to cut policy rates by 50 basis points in the first half of 2025
The Reserve Bank of India (RBI) is expected to cut policy rates by 50 basis points in the first half of 2025 after easing liquidity and reducing the Cash Reserve Ratio (CRR). While the rate cuts may support growth, they...
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RBI to sell Rs 4.73 lakh crore government bonds in March quarter for states and UTs
Posted Date : 01-Jan-2025 , 03:37:03 pm | Posted By CASANSAAR
RBI to sell Rs 4.73 lakh crore government bonds in March quarter for states and UTs
The Reserve Bank of India will sell government bonds worth Rs 4.73 lakh crore in the January-March quarter of 2025 to State Governments and Union territories. The auction schedule will be released closer to the da...
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Key insights on Economy, Business optimism for 2025 By RBI Governor Sanjay Malhotra
Posted Date : 31-Dec-2024 , 05:40:11 pm | Posted By CASANSAAR
RBI Governor Sanjay Malhotra shares key insights on economy, business optimism for 2025.
In the foreword to the Financial Stability Report, Malhotra emphasised the RBI’s commitment to maintaining financial stability, which he sees as crucial to supporting sustained growth for the India...
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