State Bank Of India

Photo: Facebook

SEBI Hikes Interest Rates, EMIs, Loans To Be Expensive

The country's largest public sector lender, the State Bank of India (SEBI) has increased the repo & reverse repo rate, making loans expensive for customers. The loan rate with a hike of 50 basis point, after the announcement of the RBI's new repo rate by 0.5% to take it to 5.90%, which came into effect from October 1, making EMIs to get costlier across all loan categories, including home loans.

Mon, 03 Oct 2022 - 05:45 PM / by Varsha Joshi

Tags: SEBI, business, Expensive Loan, RBI, interest rate

Courtesy: NDTV


Photo: The Indian Express

Rupee Falls By 49 Paise To Rs 81.89 Against US Dollar, Raises Economic Concerns

In closing the market, the rupee fell by 49 paise, to 81.89 against the US dollar. The fall in INR put selling pressure on the domestic equities and a spike in crude oil prices, on October 3. Moreover, a stronger greenback against key rivals and persistent foreign fund outflows impacted the domestic currency.  The constant fall of rupee against USD, close at 82-mark, raises concern for RBI and traders.

Mon, 03 Oct 2022 - 04:47 PM / by Varsha Joshi

Tags: business, Stock market, USD, Indian Currency, RBI

Courtesy: NDTV

Reserve Bank of India

Photo: The Times of India

RBI Raises Concern Over Unethical Loan Recovery Practices

The Reserve Bank of India raised concerns over the growing unethical loan recovery practices, usurious interest rates and data privacy issues, on September 21. It also flagged certain material concerns regarding the mushrooming of digital lending apps. Amid the need of the hour to ensure safety following a process of whitelisting and due diligence by the regulated entities, the RBI Governor Shaktikant Das raised the concerns.

Wed, 21 Sep 2022 - 08:19 PM / by Varsha Joshi

Tags: Loan Apps Recovery, Unethical Recovery, RBI, SHAKTIKANTA DAS, New Policy

Reserve Bank of India

Photo: The Economic Times

RBI Imposes Fines On 5 Cooperative Banks For Irregularities

The Reserve Bank of India has imposed penalties on five cooperative banks, on September 5. The penalty of Rs 25 lakh has been imposed on The Karnataka State Co-operative Apex Bank, Rs 15 lakhs on Thane Bharat Sahakari Bank Limited, Rs 5 Lakh Rani Laxmibai Urban Co-operative Bank, Jhansi, Rs 2 lakh on Nicholson Co-operative Town Bank and Rs  Urban Co-operative Bank, Rourkela, for irregularities and other illegality,.

Tue, 06 Sep 2022 - 11:02 AM / by Varsha Joshi

Tags: Irregularities, Cooperative Bank, RBI, penalty, business

Shaktikanta Das

Photo: The Economic Times

RBI Hikes Repo Rate By 50 Bps To Tame Inflation; Repo Rate At 5.40%

To tackle high inflation in the country, RBI's monetary policy committee has raised the repo rate by 50 bps, to 5.40%. Notably, the new repo rate is higher than that of pre-pandemic levels, which was 5.15%. Notably, demand in the economy is typically suppressed by increasing interest rates. The move "might have an immediate impact on home buying for short term," said… read-more

Fri, 05 Aug 2022 - 04:11 PM / by Shibu Immanuel S

Tags: RBI, Inflation, repo rate, Bank Rate, Shakti Kanta Das

Courtesy: ANI

Reserve Bank Of India

Photo: Business Standard

RBI Revises Repo Rate By 5.40%, Highest Since 2019

The Reserve Bank of India revised the benchmark lending rate, Repo Rate by 5.40% or 50 basis points, on August 5.  RBI Governor Shaktikanta Das announced the latest hike, the repo rate or the short-term lending rate at which banks borrow has crossed the pre-pandemic level of 5.15%. Notably, this is the third time after the Covid-19 pandemic, that the reserve repo rate has been hiked, also the highest since… read-more

Fri, 05 Aug 2022 - 01:30 PM / by Varsha Joshi

Tags: Reserve Repo Rate, RBI, Governor Shaktikanta Das, MPC, Bank Loan

Courtesy: NDTV


Photo: Money Control

RBI Monetary Committee Concludes Meeting Over Policies

Aiming to curb rising domestic inflation in India, the Reserve Bank of India's monetary policy committee, held a meeting, to discuss various monetary policies. The six-member panel commenced the meeting on August 3, which will issue a revision of the interest rate hike, which is currently at 4.90%. Furthermore, the outcome of the recently concluded RBI Monetary Policy Committee will be announced in a press conference, on August 5.

Thu, 04 Aug 2022 - 11:00 AM / by Varsha Joshi

Tags: RBI, Money Policies, Reserve Repo Rate, Committee, meeting

Courtesy: ANI


Photo: NewsOnAIR

RBI Issues Monetary Penalty On Bank Of India For Violation Of KYC Regulations

Reserve Bank of India (RBI) announced a monetary penalty of Rs 70 lakh against Bank of India for violating Know Your Customer standards on July 8. "This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers," RBI said. RBI issued a directive after considering the bank's reply. 

Fri, 08 Jul 2022 - 09:00 PM / by Vidhi Jhunjhunwala

Tags: RBI, Monetary Penalty, Bank of India, KYC, money transactions

Courtesy: ANI

Reserve Bank of India

Photo: The Economic Times

RBI Announces Tokenization Of Credit,Debit Cards, Implemented From July 1

Aiming security of credit, and debit card data, the Reserve Bank of India (RBI) is set to implement tokenisation of card transactions. In regard to this, the RBI proposed new rules, implemented from July 1. In addition, the RBI extended the timeline for adherence to certain directions till October 1. The new rule has been implemented with rules, designed to ensure cardholders' security as the main highlight.

Wed, 22 Jun 2022 - 12:29 PM / by Varsha Joshi

Tags: Cardholders, Credit Card, Debit Card, RBI, Security

RBI and Cards

Photo: TV9 Gujarati

RBI Grants Banks, NBFCs 3 Month Extension To Adhere To Certain Credit, Debit Card Norms

Reserve Bank of India gave banks and non-banking financial companies (NBFCs) a three-month extension on June 21 to comply with certain rules connected to providing credit and debit cards, including card activation without clients' approval. Banks and NBFCs were supposed to adopt Master Direction on "Credit Card and Debit Card - Issuance and Conduct Directions, 2022" on July 1. The schedule for implementing remaining aspects of Master… read-more

Wed, 22 Jun 2022 - 11:39 AM / by Vidhi Jhunjhunwala

Tags: RBI, Report, Credit Card, Debit Card, non-banking financial companies

Courtesy: DNA India