Reserve Bank of India has approved the appointment of Ittira Davis as managing director & chief executive officer of (MD & CEO) of Ujjivan Small Finance Bank for one tenure. He will take charge of the extended tenure from January 14, 2022. The post had been ...

Reserve Bank of India has set up a separate internal department for fintech (Financial technology). The new department has been created with effect from January 04, 2022, by subsuming the FinTech Division of Department of Payment and Settlement Systems, Central Office (DPSS, CO). ...

As per the latest Reserve Bank of India (RBI) data, the foreign currency reserves of India declined by $1.466 billion to $633.614 billion, in the last week of 2021, which ended December 31, 2021. In the previous week ended December 24, the reserves dipped by USD 587 million ...

The Reserve Bank has placed on its website the ‘Framework for facilitating small value digital payments in offline mode’. The framework incorporates the feedback received from the pilot experiments on offline transactions conducted in different parts of the country during the period from September ...

The Reserve Bank of India (RBI) has thrown open the government agency business like tax collection to scheduled payment banks and scheduled small finance banks (SFBs). This is part of move to provide further scope to private banks to conduct government ...

The Reserve Bank of India (RBI) Make Legal Entity Identifier (LEI) Mandatory for cross-border transactions for capital or current account transactions of Rs 50 crore and beyond that, from 1st October of the following year. LEI is a 20-digit number used to uniquely identify ...

The Reserve Bank of India has imposed several restrictions on Nagar Urban Co-operative Bank Ltd, Ahmednagar, Maharashtra, including a cap of Rs 10,000 on withdrawals for customers in the wake of deterioration of its financial position. RBI has issued the directions in the exercise of powers ...

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on State Bank of India (SBI) on November 26, 2021, for violating sub-section (2) of section 19 of the Banking Regulation Act, 1949. SBI held shares in the borrower companies of an amount exceeding 30 percent of the ...

A working group constituted by the Reserve Bank of India on digital lending through online platforms and mobile apps has submitted its report. RBI had set a WG on Digital Lending including Lending through Online Platforms and Mobile Apps, with Jayant Kumar Dash, Executive Director, RBI, ...

The Reserve Bank of India has announced to introduce the Internal Ombudsman mechanism for following two types of Non-Banking Financial Companies (NBFCs): Deposit-taking NBFCs (NBFCs-D) with 10 or more branches andNon-deposit taking NBFCs with assets size of ₹5,000 crore must ...