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Gap between slippage and recovery has narrowed: City Union Bank CEO

The bank's share closed at Rs 179.05 a piece on BSE, down 4.7% from its previous close while the broader Sensex was down 1.46%

RBI to set up fraud registry to check banking frauds: Executive Director

Payment system participants will be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks

RBI support pulls rupee up from fresh lows, helps currency recoup losses

Central bank may have sold dollars heavily around the 80.05 mark to shield domestic unit

RBI considers setting up of fraud registry to check banking frauds

As part of its efforts to strengthen customer protection, Reserve Bank is considering setting up a fraud registry to create a database of fraudulent websites, phones and various modus operandi used for digital fraud. Such a database will help prevent these fraudsters from repeating the fraud as the websites or phone numbers would be blacklisted, RBI executive director Anil Kumar Sharma said on Monday. "There is no definite timeline for setting up of the fraud registry. At present, we are talking to different stakeholders including different departments like payments and settlement and supervision of RBI," he said. Payment system participants will be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks. Sharma also said that the customers of the Core Investment Company (CIC) would come under the Reserve Bank - Integrated Ombudsman Scheme (RB-IOS), 2021. Prime Minister Narendra Modi l

Stop charging platform fee on BBPS payments: NPCI directs payment apps

NPCI's directive comes days after a discussion paper was released by the Reserve Bank of India (RBI) related to such charges

RBI's digital lending guidelines: A tectonic shift in the fintech world

With the central bank having issued new guidelines governing the lending activities of financial technology firms, some may find themselves fighting for survival

Govt clears ex-Standard Chartered banker as Sebi whole-time member

The appointment is for three years for a position vacant since November 2021

Top headlines: RIL investor meet, surplus parked with RBI falls, and more

Business Standard brings you the top headlines at this hour

Forex reserves fall $6.7 bn to $564 bn in 7 days, at 2-yr low: RBI

The central bank has been selling dollars in the foreign exchange market aggressively to curb any sharp fall in the rupee, which is one of the main reasons for the reserves to fall

Bond yields slide as reports tout progress in global listing of Indian debt

A fall of one basis point on the 10-year bond yield corresponds to a rise in price of roughly seven paise

US urges India to join Western crude price cap coalition against Russia

US dy secretary of treasury Wally Adeyemo meet FM Sitharaman during the final lap of his three-day trip to India, after visiting RBI governor Shaktikanta Das on Thursday

FinMin sees Q1 growth at 15.6% ahead of GDP data, impact on trade component

This is lower than RBI's April-June (Q1FY23) GDP projection of 16.2%

Bank credit up by 15.32%; deposits by 8.84% in fortnight ended Aug 12: RBI

Bank credit grew by 15.32 per cent to Rs 124.305 lakh crore and deposits by 8.84 per cent to Rs 169.49 lakh crore in the fortnight ended August 12, the RBI data showed. In the fortnight ended August 13, 2021, bank advances stood at Rs 107.79 lakh crore and deposits at Rs 155.72 lakh crore, according to the Reserve Bank of India's (RBI) Scheduled Banks' Statement of Position in India as on August 12 released on Friday. In the previous fortnight ended July 29, bank credit grew by 14.52 per cent and deposits by 9.14 per cent. In FY 2021-22, bank credit rose by 8.59 per cent and deposit by 8.94 per cent.

Focusing on inflation to make central banks' job easier: Raghuram Rajan

He said issues such as climate change and employment are peripheral to the central bank mandate and could be better dealt with direct polices.

HNIs more cautious on foreign investment after new rules kick in

According to the new rules of the liberalised remittance system (LRS), an Indian resident can now invest $250,000 a year in foreign stocks, debt etc

Rupee to remain under pressure despite RBI support, says Societe Generale

Rupee is likely to struggle against the dollar as slowing global growth and the Federal Reserve's interest rate stance overshadows RBI's intervention, suggested Societe General

IDBI Bank's CEO says the lender can recover $2.4 billion in bad loans

India is considering selling at least 51% of the $5 billion bank, people familiar with the matter have said

Broad-based, double-digit annual growth seen in bank credit in Q1: RBI data

RBI data showed the metropolitan regions saw maximum acceleration with YoY credit growth vaulting from 2.7% in June 2021 to 13.2% in June 2022

Bank credit growth accelerates to 14.2% in June quarter: RBI data

Bank credit growth accelerated to 14.2 per cent in the quarter ended June 2022 from 6 per cent in the same period of the previous year, RBI data showed on Thursday. In the quarter ended March 2022, bank credit had expanded by 10.8 per cent. The Reserve Bank of India (RBI) on Thursday released the 'Quarterly Statistics on Deposits and Credit of SCBs for June 2022'. This data is collected from all scheduled commercial banks (SCBs), which include regional rural banks (RRBs), small finance banks (SFBs) and payments banks (PBs). "Credit growth has been broad-based: all the population groups (i.e., rural, semi-urban, urban and metropolitan), all the bank groups (i.e., public/private sector banks, foreign banks, RRBs and SFBs) and all the regions of the country (i.e., central, eastern, north-eastern, northern, southern and western) recorded double-digit annual credit growth in June 2022," as per the data. Aggregate deposit growth (year-on-year) has remained in the range 9.5 - 10.2 per cen

Systemic reforms boosted India's macroeconomic stability: Ashima Goyal

Eight years of systemic economic reforms under the Modi government have increased India's macroeconomic stability and its capacity to withstand any external shocks, RBI Monetary Policy Committee (MPC) Member Ashima Goyal has said. Goyal further said appropriate countercyclical macroeconomic policy with continuing supply-side improvements has enabled a growth recovery that is among the best in the world. "Just before the Modi government came in, the country was facing serious macroeconomic instability after the global financial crisis. "After 8 years of systemic reforms, the economy has been able to ride out more severe global shocks with macroeconomic stability, a healthy financial sector, food security and a government and industry that have learnt to work together," she told PTI. Prime Minister Narendra Modi assumed office on May 26, 2014. He was administered the oath of office for his second term on May 30, 2019. On the credibility crisis of India's official numbers on a range