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Now, the new threshold for ‘bulk deposit’ is Rs 3 crore, meaning deposits below this amount will not be considered bulk deposits; banks often offer higher interest rates on bulk deposits compared to regular deposits. The Reserve Bank of India (RBI) on June 7 revised the definition of a bank ‘bulk deposit’ to Rs 3

08 Jun

RBI Raises ‘Bulk Deposit’ Threshold for Banks to Rs 3 Crore

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Now, the new threshold for ‘bulk deposit’ is Rs 3 crore, meaning deposits below this amount will not be considered bulk deposits; banks often offer higher interest rates on bulk deposits compared to regular deposits. The Reserve Bank of India (RBI) on June 7 revised the definition of a bank ‘bulk deposit’ to Rs 3

The Union Finance Ministry (FinMin) has instructed public-sector banks (PSBs) to review their information technology (IT) systems, especially the disaster recovery channels, a senior government official said, requesting anonymity. It is believed that the regulator (Reserve Bank of India) conducts its own audits regularly. We have also requested major PSBs to evaluate their disaster recovery

24 May

Finance Ministry asks PSBs to review their IT disaster preparedness

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The Union Finance Ministry (FinMin) has instructed public-sector banks (PSBs) to review their information technology (IT) systems, especially the disaster recovery channels, a senior government official said, requesting anonymity. It is believed that the regulator (Reserve Bank of India) conducts its own audits regularly. We have also requested major PSBs to evaluate their disaster recovery

The Reserve Bank of India (RBI) has responded to tight liquidity conditions in the banking system by announcing a significant reduction in the government’s treasury bill sales and introducing a new selection of bonds for the Centre’s buyback operations. This move aims to alleviate cash constraints for banks, which have been impaired by muted government

18 May

RBI fires liquidity booster

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The Reserve Bank of India (RBI) has responded to tight liquidity conditions in the banking system by announcing a significant reduction in the government’s treasury bill sales and introducing a new selection of bonds for the Centre’s buyback operations. This move aims to alleviate cash constraints for banks, which have been impaired by muted government

In the wake of the ongoing audit at IIFL Finance’s gold loan business, the Reserve Bank of India is said to be reviewing regulations on gold loans. Certain norms pertaining to loan-to-value, cash disbursement limit, assaying of the underlying gold, and auctioning of the precious metal are under review. A detailed circular, or an operative

15 May

IIFL Finance fallout: RBI relooking gold loan norms

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In the wake of the ongoing audit at IIFL Finance’s gold loan business, the Reserve Bank of India is said to be reviewing regulations on gold loans. Certain norms pertaining to loan-to-value, cash disbursement limit, assaying of the underlying gold, and auctioning of the precious metal are under review. A detailed circular, or an operative

FORGERY. Embezzlement reported at NBFC’s North-East branch; RBI seen placing curbs. KEY CONTRIBUTOR. The eastern region accounts for 11% of the lender’s total advances, or ₹10,273 crore of total loans, per M&M Finance’s December quarter investor presentation The RBI is looking into a ₹150-crore KYC lapse disclosed by Mahindra and Mahindra Financial Services on Tuesday.

24 Apr

RBI lens on ₹150-crore KYC fraud at M&M Fin Services

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FORGERY. Embezzlement reported at NBFC’s North-East branch; RBI seen placing curbs. KEY CONTRIBUTOR. The eastern region accounts for 11% of the lender’s total advances, or ₹10,273 crore of total loans, per M&M Finance’s December quarter investor presentation The RBI is looking into a ₹150-crore KYC lapse disclosed by Mahindra and Mahindra Financial Services on Tuesday.