Paytm Payments Bank received approval from RBI as BBPOU: Our associate Paytm Payments Bank Limited (PPBL) has got the final approval from Reserve Bank of India (RBI) to operate as Bharat Bill Payment Operating Unit (BBPOU) under the Payment and Settlement Systems Act, 2007. As an entity under ...

States’ Gross Fiscal Deficit Set to Fall in 2022-23, Says RBI: The Reserve Bank of India (RBI) said that the finances of Indian states are projected to improve in 2022-23 with the consolidated gross fiscal deficit to gross domestic product ratio seen falling to 3.4 percent from 4.1 percent for the ...

SMBC Bank, Oaktree Submit EoIs for IDBI’s Strategic Stake Sale: Sumitomo Mitsui Banking Corporation Group (SMBC Bank) of Japan and Oaktree Capital Management are among those that have submitted expressions of interest (EoIs) for the strategic stake sale in IDBI Bank. Oaktree is a US alternative ...

Centre Clears Rs 2,600 cr Scheme to Promote RuPay, BHIM-UPI: The Union Cabinet has approved the incentive scheme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (person-to-merchant) for the current financial year. A cash allocation of Rs 2,600 crore has been allocated ...

Inflation cools to one-year low of 5.7% in December: In December 2022, retail inflation declined to a one-year low of 5.72 percent, primarily as a result of falling food costs. According to information made public by the Ministry of Statistics & Programme Implementation (MoSPI), it was also ...

South Indian Bank launches MSME online portal: The South Indian Bank launched a MSME online portal providing instant online In Principle approval of up to ₹1 crore MSME enterprises are the most important pillars of the economy and the government is working towards making the sector stronger. ...

World Bank Predicts India’s Economic Growth to Slow to 6.9% in FY23: As the global economy and growing unpredictability weigh on export and investment growth, the World Bank predicts that India's GDP would drop to 6.9% in Financial Year 2023, a 0.6 percentage point decrease since June. However, ...

BharatPe Gets in-principle nod from RBI to Operate as Online Payment Aggregator: Fintech platform BharatPe said it has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA). According to the company, Resilient Payments Private Ltd, ...

RBI Lists 6 Rating Agencies for Banks’ Capital Adequacy Purposes: The list of six credit rating firms that banks can use to risk-weight their claims for capital adequacy purposes was released by the Reserve Bank of India (RBI). The six credit rating agencies are Acuite Ratings & Research ...

Paytm Payments Bank: The RBI has approved the appointment of Surinder Chawla as the Managing Director and CEO of Paytm Payments Bank.The RBI, however, continues to bar Paytm Payments Bank from on-boarding new customers. Before joining PPBL, Chawla was working with RBL Bank, where he served as Head ...