The Reserve Bank of India (RBI) has released the provisioning guidelines for outstanding loans extended by 'NBFC-Upper Layer'. These guidelines shall be effective from October 1, 2022. Individual housing loans and loans to Small and Micro Enterprises (SMEs): 0.25%. ...

The Reserve Bank of India (RBI) has issued norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India. As per the guidelines, banks may allow Qualified ...

The Reserve Bank of India has set up a committee to review the efficacy, adequacy and quality of customer service in banks, NBFCs, and other entities regulated by it. The six-member committee headed by former RBI deputy governor B P Kanungo. He will submit ...

The RBI has approved a dividend payment of Rs. 30,307 crore to the Centre for the fiscal year 2021-22. The bank’s central board of directors also decided to maintain the contingency risk buffer (CRB) at 5.50%. In the 2022 budget, the government had estimated ...

Leading stock exchange BSE Limited approved the appointment of SS Mundra, Public Interest Director as the Chairman of the board of directors of the company. Mundra will take place Justice Vikramajit Sen who is the current chairman.Mundra was appointed as Public Interest Director at ...

According to the Reserve Bank of India (RBI), the Public sector banks have reported over a 51% dip in the amount involved in frauds to Rs 40,295.25 crore during the financial year ended March 2022. The 12 PSBs had reported frauds worth Rs 81,921.54 crore in the preceding ...

The Reserve Bank on Friday said Sitikantha Pattanaik and Rajiv Ranjan have been appointed as executive directors with effect from May 1. Ranjan will also serve as an ex-officio member of the rate-setting panel Monetary Policy Committee (MPC). Pattanaik was an adviser at ...

The Reserve Bank of India (RBI) has levied a monetary penalty of 59 lakh rupees (Rupees Fifty Nine Lakh only) on KEB Hana Bank (the bank) for non-compliance with RBI’s “Reserve Bank of India (Interest Rate on Deposits) Directions, 2016” by a decision dated May 12, 2022. This penalty was issued in ...

The Reserve Bank of India (RBI) has raised the Repo rate by 40 basis points to 4.40% and the cash reserve ratio (CRR) by 50 basis points to 4.50%. Aim: To bring down the raised inflation to the desired level and tackle the impact of geopolitical tensions. ...

The Reserve Bank of India (RBI) said  it has imposed a monetary penalty of Rs 17.63 lakh on Manappuram Finance Limited for non-compliance of norms related to Know Your Customer (KYC) and Prepaid Payment Instruments (PPIs). KEY POINTS: The Reserve Bank of India (RBI) has imposed monetary ...