The central bank said loan disbursals as well as repayments can only executed via the bank accounts of borrowers and regulated entities (banks and NBFCs).
The domestic net interest margin (NIM) during the first quarter improved by 8 bps YoY to 3.23%.
The Reserve Bank of India (RBI) on Friday increased the policy repo rate by 50 basis points to 5.4%.
BoI improved on its asset quality as gross non-performing assets fell to 9.30% of gross advances by the end of June 2022.
Union Bank of India-Guntur on Wednesday organised a retail exhibition for doctors at Guntur Medical College, and discussed retail and MSME products offered by the bank with them.
He highlighted the global grim situation in view of inflationary pressures, tighter external funding situation and financial stability challenges in many countries.
On May 12, Amazon filed an intervention application under Section 65 of the Insolvency and Bankruptcy Code that deals with provisions relating to penalty for malicious initiation of proceedings.
She entirely depends on the insurance cover but the bank refused to waive off loan.
RBI Governor Shaktikanta Das called cryptocurrency a “clear danger” in the foreword to the 25th issue of the Financial Stability Report (FSR).
RBI’s move, analysts say, would make rupee more tradable globally and lessen dependence on US dollar
Founded in 2019, 1Pay is backed by ex-Goldman Sachs MD Sanjiv Shah and Sanjay Gaitonde. It is a payment aggregator that also brings transportation, logistics and the banking industry together.
The Commission has also directed the SBI to issue a public notice in Telugu and English newspapers notifying about the misplaced documents.
The Reserve Bank of India said that the action is based on the deficiencies in regulatory compliance of the Federal Bank Limited.
The fall in the foreign exchange reserves was due to a dip in Foreign Currency Assets (FCA), a major component of the overall reserves, and also in the gold reserves.
Reserve Bank of India has been flagging concerns about cryptocurrencies, which are seen as a highly speculative asset.
Economy on recovery path; inflationary pressure, geopolitical risks warrant careful handling of situation: RBI
The RBI's 25th Financial Stability Report said banks, as well as non-banking financial institutions, have sufficient capital buffers to withstand shocks.
The judge said the facility extended to get reimbursement of foreign travel expenses, was given by way of an additional facility through a letter and the same was cancelled.
India's reserve position in the International Monetary Fund dropped by USD 17 million to USD4.968 billion during the week ended June 17, as per the RBI Weekly Statistical Supplement.
The basic purpose of tokenisation is to increase and improve customer safety. With tokenisation, storage of card details is limited.
The government has tasked the RBI to ensure inflation remains at 4 per cent with a two per cent deviation on either side.