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The Reserve Bank of India on Thursday launched a centralised Web portal, UDGAM (Unclaimed Deposits Gateway to Access Information), for members of the public to make it easier to search their unclaimed deposits across multiple banks at one place. UDGAM, which was launched by RBI Governor Shaktikanta Das, will aid users in identifying their unclaimed deposits and accounts and

22 Aug

RBI launches UDGAM portal for searching unclaimed deposits across multiple banks

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The Reserve Bank of India on Thursday launched a centralised Web portal, UDGAM (Unclaimed Deposits Gateway to Access Information), for members of the public to make it easier to search their unclaimed deposits across multiple banks at one place. UDGAM, which was launched by RBI Governor Shaktikanta Das, will aid users in identifying their unclaimed deposits and accounts and

The Reserve Bank has opted for the services of global consulting companies McKinsey and Company India LLP, along with Accenture Solutions Pvt Ltd. India, to create systems that utilize artificial intelligence and machine learning for its supervisory operations. The RBI is looking to extensively use advanced analytics, artificial intelligence and machine learning to analyse its

15 Aug

RBI to use AI to improve regulatory supervision

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The Reserve Bank has opted for the services of global consulting companies McKinsey and Company India LLP, along with Accenture Solutions Pvt Ltd. India, to create systems that utilize artificial intelligence and machine learning for its supervisory operations. The RBI is looking to extensively use advanced analytics, artificial intelligence and machine learning to analyse its

Cash Reserve Ratio or CRR as it is termed, is a monetary policy tool used by the Central Bank to regulate money supply and control inflation. It is the percentage of Bank’s net Demand and Time Liabilities (NDTL) required tobe maintained as Cash Reserve with RBI. It includes deposits and certain other liabilities of commercial

12 Aug

What is ICRR, and its impact on liquidity

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Cash Reserve Ratio or CRR as it is termed, is a monetary policy tool used by the Central Bank to regulate money supply and control inflation. It is the percentage of Bank’s net Demand and Time Liabilities (NDTL) required tobe maintained as Cash Reserve with RBI. It includes deposits and certain other liabilities of commercial

Credit card default rose to ₹4,072 crore, or 1.94%, at the end of March 2023, Parliament was informed on Tuesday. “As per the inputs received from the Reserve Bank of India, in respect of defaults in credit cards, the gross non-performing assets (GNPAs) in credit cards was ₹3,122 crore in March-2022 and ₹4,072 crore in

09 Aug

Credit card defaults hit ₹4,072 cr in FY23

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Credit card default rose to ₹4,072 crore, or 1.94%, at the end of March 2023, Parliament was informed on Tuesday. “As per the inputs received from the Reserve Bank of India, in respect of defaults in credit cards, the gross non-performing assets (GNPAs) in credit cards was ₹3,122 crore in March-2022 and ₹4,072 crore in

ARC executives find written-off assets particularly appealing as the number of sizeable bad loans awaiting recovery have dipped, thanks in part to banks’ persistent corrective measures, including selective targeting of corporate borrowers. Asset reconstruction companies (ARCs) are capitalizing on the opportunity to acquire written-off loans, given the substantial pool of such assets available with lenders, and

28 Jul

ARCs spot opportunity in written-off accounts

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ARC executives find written-off assets particularly appealing as the number of sizeable bad loans awaiting recovery have dipped, thanks in part to banks’ persistent corrective measures, including selective targeting of corporate borrowers. Asset reconstruction companies (ARCs) are capitalizing on the opportunity to acquire written-off loans, given the substantial pool of such assets available with lenders, and