Page 54 - Rbi

Will easing farm commodity prices provide room to RBI to pause rate hikes?

While the govt has introduced windfall tax and export curbs to arrest runaway prices, a lot depends on how the monsoon pans out this season

Srei Equipment Finance's auditor Haribhakti resigns from immediate effect

In a letter to administrator of Srei Equipment Finance, Haribhakti cited RBI guidelines for the appointment of statutory central auditors /statutory auditors of commercial banks

RBI clears payment aggregator licence for Razorpay, PineLabs & Stripe

Payment aggregators enable e-commerce sites and merchants to accept payment instruments from customers without the need for merchants to create their own payment integration system

RBI allows more FPI access to Indian bonds, but returns may not lure flows

Treasury officials believe the move may not work as rising interest rates abroad and high domestic inflation have eroded returns from Indian fixed-income assets

RBI fines Federal Bank Rs 5.7 cr for flouting insurance broking norms

Banking regulator imposes fine of Rs 70 lakh on Bank of India for non-compliance with KYC norms

RBI imposes penalties on Federal Bank, BoI for non-compliance of norms

Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 5.72 crore on Federal Bank for deficiencies in regulatory compliance. A penalty of Rs 70 lakh has also been imposed on Bank of India for non-compliance with certain provisions of Know Your Customer (KYC) norms and instructions on 'compliance function in banks' issued by RBI, it said in a statement. About Federal Bank, RBI said the bank failed to ensure that no incentive (cash or non-cash) was paid to its staff engaged in insurance broking/corporate agency services by the insurance company, according to a separate statement. RBI had carried out Statutory Inspection for Supervisory Evaluation (lSE) of the bank with reference to its financial position as on March 31, 2020. In another statement, RBI said a fine of Rs 7.6 lakh has been imposed on Dhani Loans and Services Limited, Gurugram for non-compliance with KYC norms. RBI said the penalities are based on the deficiencies in regulatory compliance and is not .

Lessons from the Raj: Whether it is gold or salt, higher duties don't work

The problem of gas in Europe, oil in the US and gold in India is a lifestyle problem. High taxes and import duties aren't going to solve it

Rupee's slide to successive record lows pits RBI against mkt full of bears

The rupee's tumble to a succession of record lows is sparking fears of a deeper selloff and pitting the central bank against analysts and strategists who are predicting further losses

RBI cancels licence of Shri Anand Co-operative Bank due to lack of capital

RBI on Thursday said it has cancelled the license of Shri Anand Co-operative Bank, Chinchwad, Pune as the lender does not have adequate capital and cannot pay its present depositors in full. The bank ceases to carry on banking business, with effect from the close of business on Thursday (July 7, 2022), the Reserve Bank of India (RBI) said in a statement. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has been asked to issue an order for winding up the bank and appoint a liquidator for the bank. As per the data submitted by the bank, more than 99 per cent of the depositors are entitled to receive full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC), RBI added. "Consequent to the cancellation of its license, 'Shri Anand Co-operative Bank Ltd, Chinchwad, Pune' is prohibited from conducting the business of banking which includes, among other things, acceptance of deposits and repayment of deposits...with ...

RBI's market operations helped banks in funding during Covid: Study

The RBI Working Paper titled 'Banks' Credit and Investment Dynamics: Assessing Portfolio Rebalancing and Crowding-out' analyses asset portfolio dynamics of Indian banks

Fintechs funded by Chinese money generated Rs 950-crore slush funds: ED

Fintech companies brought the funds to be lent to the public, did MoU (memorandum of understanding) with "defunct" NBFCs for their lending licence, it said

Centre seeks to grant bank licence to PSBs to enable privatisation

The government is exploring several options to address the issue for enabling privastisation of PSBs

Weak rupee a worry for Indian firms as 44% foreign loans unhedged

Experts say firms will have to either immediately take forward cover or book losses if Rs depreciates further

RBI takes steps to attract foreign flows, says growth prospects stay strong

RBI said that despite the headwinds from geopolitical developments, elevated crude oil prices and tighter external financial conditions, high frequency indicators point to an ongoing recovery in sever

What RBI's letter to govt on missing inflation target is likely to contain

Failure to keep inflation between 2-6% for three straight quarters will require RBI Governor to explain to FinMin why target was missed, and steps MPC will take to achieve it going forward

RBI's innovative approach to control the fall in rupee is commendable

The efficacy of the central bank's steps will be seen in the coming days

Top headlines: RBI tries to shore up rupee; DGCA notice to SpiceJet

Union ministers Mukhtar Abbas Naqvi and R C P Singh submitted their resignations to Prime Minister Narendra Modi on Wednesday, a day before the completion of their Rajya Sabha term, sources said.

RBI liberalises norms to boost forex inflows to shore up rupee

The measures include easing norms for FPI investment in debt market, and increasing the ECB limit under the automatic route from $750 mn or its equivalent per financial year to $1.5 bn

Fintech startup Finvu AA raises $2.5 million in seed funding for expansion

Finvu AA will use the fresh funds to expand the team in engineering, and business development and enhance its product offerings

Lenders tag Bajaj Hindusthan as NPA, debt recast plan under discussion

Bajaj Hindusthan has defaulted to banks, UP farmers; says restructuring proposal is in accordance with RBI circular of June 7, 2019