RBI extends current a/c rules implementation deadline to October 31 after reports of hassles – Times of India

RBI extends current a/c rules implementation deadline to October 31 after reports of hassles - Times of India

MUMBAI: The Reserve Bank on Wednesday allowed time to banks till October 31 to implement changes on the current account front, following reports of small businesses being hit with account freezes in the last few days. The central bank said the circular is aimed at enforcing credit discipline amongst the borrowers as well as to … Read more

RBI expected to hold interest rate this week – Times of India

RBI expected to hold interest rate this week - Times of India

MUMBAI: Downside risks to the RBI’s 9.5% growth projection have ebbed. However, the central bank is expected to keep rates on hold and continue with its accommodative stance in its monetary policy committee (MPC) meeting, which concludes on August 6. According to analysts, the first sign of a decision by the RBI tapering off its … Read more

New IDBI owners may get RBI road map to cut stake – Times of India

New IDBI owners may get RBI road map to cut stake - Times of India

NEW DELHI: The Reserve Bank of India (RBI) is expected to provide a road map to the new owners of IDBI Bank for reducing their stake as the government seeks to sell its equity, along with shares held by Life Insurance Corporation (LIC) of India, by the end of the current fiscal year. Although the … Read more

Data storage norms: Mastercard submits audit report to RBI – Times of India

Data storage norms: Mastercard submits audit report to RBI - Times of India

NEW DELHI: After being banned by the RBI from issuing new cards, US-based payments technology major Mastercard on Friday said it has submitted an audit report to the regulator showing compliance with the local data storage norms. The Reserve Bank had on July 14 put an indefinite ban on Mastercard from issuing new credit, debit … Read more

20-year-old Overcomes Low Vision to Top CBSE Class 12, Cracks IIM Test, Eyes RBI Job

20-year-old Overcomes Low Vision to Top CBSE Class 12, Cracks IIM Test, Eyes RBI Job

Keerthi Sundaramoorthi, a 20-year-old from Vellore in Tamil Nadu, has got 97.4% marks in her CBSE class 12 board examinations. She is among the top 5.37% of students from across the country to have attained a 95+ per cent score in the exams. For Keerthi, the achievements do not just end here: she has fought impaired … Read more

RBI allows non-bank PSPs to participate in centralised payment systems – Times of India

RBI allows non-bank PSPs to participate in centralised payment systems - Times of India

MUMBAI: The Reserve Bank of India (RBI) on Wednesday allowed authorised non-bank payment system providers (PSPs) to participate in centralised payment systems (CPS), such as real-time gross settlement (RTGS) and national electronic fund transfer (NEFT), as direct members. PSPs include prepaid payment instrument (PPI) issuers, card networks, white label ATM (WLA) operators and trade receivables … Read more

RBI central board short of 9 non-official directors – Times of India

RBI central board short of 9 non-official directors - Times of India

NEW DELHI: The central board of the Reserve Bank of India (RBI) is facing shortage of nine non-official directors, including seven from the category of people of eminence from various fields. The central board is the highest decision making body of the apex bank headed by the RBI governor. According to the RBI Act, the … Read more

Hop, skip and jump was code word for devaluation, says former RBI governor C Rangarajan – Times of India

Hop, skip and jump was code word for devaluation, says former RBI governor C Rangarajan - Times of India

C Rangarajan, who served as RBI governor and chairman of PM’s economic advisory council, recounts the anxiety in the lead-up to the actual measures in an interview with TOI . Excerpts:There were decisions that the RBI took in 1991 which added to the reforms momentum. Could you identify the major ones and how they have … Read more

RBI Contemplating Pilot Launch of Digital Currency in Near Future

Big Tech Push Into India

The Reserve Bank is working on a phased implementation strategy for its own digital currency and is in the process of launching it in wholesale and retail segments in the near future, RBI Deputy Governor T Rabi Sankar said on Thursday. He said the idea of Central Bank Digital Currency (CBDC) is ripe, and many … Read more

It’s time for digital currency to counter crypto, says RBI – Times of India

It’s time for digital currency to counter crypto, says RBI - Times of India

MUMBAI: The Reserve Bank of India (RBI) has said that it is working towards a phased implementation strategy for its digital currency and examining use cases where it can be deployed with little disruption. Making a strong argument in favour of a central bank digital currency (CBDC) for India, the RBI has said that it … Read more

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