The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 10 crore on HDFC Bank Limited for violation of certain rules, the central bank said on May 28.This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction…
Posts tagged as “RBI”
From December 1, many rules ranging from LPG Cylinder prices to new timings for Real Time Gross Settlement System (RTGS), insurance premiums, new trains and ATM cash withdrawal — things that have a major impact in the lives of common man are going to change. Since these rules are going to…
The Indian economy likely entered into a technical recession for the first time in history at the end of the first half of 2020-21, according to the Reserve Bank of India. After an unprecedented decline of 23.9 per cent in GDP in April-June as estimated by the National Statistical Office on…
The Reserve Bank of India (RBI) filed a fresh affidavit in the loan moratorium case and told the Supreme Court that it cannot give more time as relief for sectors hit by the coronavirus pandemic. In the affidavit, RBI also stated that it is not possible to extend the moratorium period beyond…
The EMIs on home and auto loans are unlikely to come down in the near term as the Reserve Bank of India on Friday kept the key policy rates unchanged in its bi-monthly Monetary Policy review. The central bank announcing the outcome of its bi-monthly Monetary Policy rates on October 9 said…
n an apparent attempt to make digital payments using debit cards and credit cards more secure, several new guidelines have been issued by Reserve Bank of India (RBI) that will come into effect from October 1, 2020. The RBI had directed all banks to not unnecessarily give international facilities to customers’…
Announcing the bi-monthly Monetary Policy on August 6, the Reserve Bank of India noted that the disruptions caused by COVID-19 have led to increased financial stress for borrowers across the board, creating a huge challenge of their debt burden. Accordingly, the Central Bank has to decided to provide a window under…
A survey released by the Reserve Bank of India (RBI) has showed that consumer confidence has collapsed to historic low amid the coronavirus pandemic. “Consumer confidence collapsed in May 2020, with the Current Situation Index (CSI) touching historic low and the one year ahead Future Expectations Index (FEI) also recording a…
The Reserve Bank of India (RBI) on Friday slashed interest rates, extended moratorium on loan repayments and allowed banks to lend more to corporates in an effort to support the economy which is likely to contract for the first time in over four decades. The benchmark repurchase (repo) rate was cut…