RBI
Moneylife Digital Team 22 July 2024
Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Andhra Pradesh-based Uravakonda Cooperative Town Bank Ltd due to inadequate capital and poor earning prospects of the lender.

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Moneylife Digital Team 22 July 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.90 lakh on Muthoot Finance Ltd for non-compliance with RBI directions on know-your-customer (KYC).

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Moneylife Digital Team 15 July 2024
Reserve Bank of India (RBI) Deputy Governor, Michael Debabrata Patra, highlighted the significant role of India's monetary policy in the country's journey towards becoming a developed economy during a discussion with Indian Administrative Service (IAS) officials.

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Moneylife Digital Team 11 July 2024
As banks navigate an increasingly complex emerging landscape, a harmonised approach by the regulators and auditors can remove the blind spots in risk identification and mitigation, says M Rajeshwar Rao, deputy governor of Reserve Bank of India (RBI).

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Moneylife Digital Team 11 July 2024
Reserve Bank of India (RBI) has issued a series of updates regarding remittances to International Financial Services Centers (IFSCs) under the liberalised remittance scheme (LRS).

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Moneylife Digital Team 08 July 2024
The Reserve Bank of India (RBI) has imposed a penalty of Rs1.32 crore on Punjab National Bank (PNB) for non-compliance with directions related to loans and advances, as well as statutory and other restrictions and know-your-customer (KYC) directions.

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Moneylife Digital Team 08 July 2024
Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Karnataka-based Shimsha Sahakara Bank Niyamitha due to inadequate capital and the lender's poor earning prospects.

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Moneylife Digital Team 28 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs29.60 lakh on Hongkong and Shanghai Banking Corporation Ltd (HSBC) for non-compliance with directions on credit card, debit card and rupee-denominated co-branded pre-paid card operations.

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Moneylife Digital Team 14 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.45 crore on Central Bank of India for sanctioning a working capital demand loan to a corporation against receivable from government subsidies and failing to credit money to customer accounts in the unauthorised electronic transactions.

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Moneylife Digital Team 08 December 2023
As predicted by economists, the monetary policy committee (MPC) of Reserve Bank of India (RBI) kept the repo rate unchanged at 6.50% during its February bi-monthly meeting. RBI increased its gross domestic product (GDP) growth by 50bps (basis points) to 7% while keeping its consumer price index (CPI) inflation unchanged at 5.4% for FY23-24.

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Moneylife Digital Team 28 June 2023
The gross non-performing asset (GNPA) ratio of scheduled commercial banks (SCBs) fell to a seven-year low of 5% and net non-performing assets (NNPA) dropped to a 10-year low of 1.3% in September 2022, shows the financial stability report (FSR) released by the Reserve Bank of India (RBI).

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The number of counterfeit currency notes of Rs 500 denomination detected by the banking system, rose by 14.6 per cent to 91,110 pieces in 2022-23 compared to last year, according to the Reserve Bank of India's annual report released on Tuesday.

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Reserve Bank of India (RBI) has said that domestic economic activity does face challenges from an uninspiring global outlook going forward, but resilient domestic macroeconomic and financial conditions, expected dividends from past reforms and new growth opportunities from global geo-economic shifts place India at an advantageous position in the current fiscal.

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Reserve Bank of India (RBI) has said that in 2022-23 the domestic financial market movements remained orderly, notwithstanding persisting impact of global spillovers during the year.

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Moneylife Digital Team 16 May 2023
The Reserve Bank of India (RBI) has imposed penalties totalling Rs7 lakh on two cooperative banks for non-adherence with the directions issued by RBI on strengthening of prudential norms- provisioning, asset classification and exposure limit and regional rural banks- income recognition.

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Moneylife Digital Team 18 April 2023
Reserve Bank of India (RBI) has imposed a fine of Rs23.23 lakh on Bengaluru-based Karnataka State Co-operative Apex Bank Ltd for violating specific provisions of know your customer (KYC) norms and directions issued on membership of credit information companies (CICs).

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Moneylife Digital Team 06 April 2023
In a people-friendly move, Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday announced the development of a common web portal to search for unclaimed deposits.

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The Reserve Bank of India (RBI) will soon put in place a process whereby people will be compensated by Credit Information Companies (CIC) for delayed updation/rectification of credit information reports, said Governor Shaktikanta Das.

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The Public Sector Banks (PSBs) have transferred unclaimed deposits (till February 2023) of Rs 35,012 crore to the RBI, the Lok Sabha was informed on Monday.

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About the worst experiences, we have as consumers, are with banks and financial services

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