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An RBI circular that requires lenders to take a quick call on classifying wilful defaulters will also allow borrowers to shake off the tag by entering into a compromise settlement with banks. In June 2023, the central bank, in its circular on compromise settlements, had allowed one-time settlement of wilful defaults only if a higher

25 Sep

RBI may let wilful defaulters shed label after settlement

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An RBI circular that requires lenders to take a quick call on classifying wilful defaulters will also allow borrowers to shake off the tag by entering into a compromise settlement with banks. In June 2023, the central bank, in its circular on compromise settlements, had allowed one-time settlement of wilful defaults only if a higher

In its last bi-monthly monetary policy review, the RBI asked Banks to maintain an I-CRR of 10 per cent The Reserve Bank of India (RBI) has decided to discontinue the Incremental Cash Reserve Ratio (I-CRR), which it prescribed as a temporary measure last month to impound Banks’ surplus liquidity, in three stages, beginning September 9,

12 Sep

RBI to discontinue I-CRR in a phased manner

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In its last bi-monthly monetary policy review, the RBI asked Banks to maintain an I-CRR of 10 per cent The Reserve Bank of India (RBI) has decided to discontinue the Incremental Cash Reserve Ratio (I-CRR), which it prescribed as a temporary measure last month to impound Banks’ surplus liquidity, in three stages, beginning September 9,

The Reserve Bank of India urged the directors of Urban Co-operative banks to further strengthen governance practices emphasizing the importance of a professional Board of Management as the quality of governance was the most important aspect in ensuring stability of individual banks. The Reserve Bank stressed the need to strengthen the three pillars supporting pillars

08 Sep

Good governance important to ensure stability of urban cooperative banks: RBI governor

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The Reserve Bank of India urged the directors of Urban Co-operative banks to further strengthen governance practices emphasizing the importance of a professional Board of Management as the quality of governance was the most important aspect in ensuring stability of individual banks. The Reserve Bank stressed the need to strengthen the three pillars supporting pillars

New UPI features developed by National Payments Corporation of India (NPCI) was launched by the RBI Governor. The product offerings include Credit Line on UPI; UPI Lite X; Tap & Pay; Hello! UPI; and BillPay Connect. The central bank informs that credit lines on UPI to increase access to credit, and promote financial inclusion and innovation through pre-sanctioned

07 Sep

RBI, NPCI introduce credit lines on UPI, conversational payments

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New UPI features developed by National Payments Corporation of India (NPCI) was launched by the RBI Governor. The product offerings include Credit Line on UPI; UPI Lite X; Tap & Pay; Hello! UPI; and BillPay Connect. The central bank informs that credit lines on UPI to increase access to credit, and promote financial inclusion and innovation through pre-sanctioned

The Reserve Bank of India (RBI) has decided to bring out rules that could potentially restrict card issuers from engaging in exclusive agreements with card networks like Mastercard, Visa or RuPay. The central bank also proposed that rules would be applicable to both banks and non-banking financial companies that issue credit cards, debit cards, or

22 Aug

What is Card Network Portability?

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The Reserve Bank of India (RBI) has decided to bring out rules that could potentially restrict card issuers from engaging in exclusive agreements with card networks like Mastercard, Visa or RuPay. The central bank also proposed that rules would be applicable to both banks and non-banking financial companies that issue credit cards, debit cards, or