Banks in India which operate International Financial Services Centre (IFSC) Banking Units (IBUs) were permitted to transact in INR Non-deliverable foreign exchange derivative contracts (NDDCs) with non-residents and with each other with effect from June 1, 2020. With a view to develop the onsho...
supervising and conducting various financial sector projects comprising commercial banks, financial institutions and non-banking financial firms. management of the currency crisis in the nation’s economy. management of the reserve to ensure the economic development and monetary stability of the nation’s...
Lakshmi Vilas Bank has a 94-year history in India, with an established retail and SME customer base, and a strong presence in South India. DBS has been in India since 1994. In March 2019, to expand the franchise and build greater scale, DBS converted its India operations ...
According to RBI, the functionality will make payments easier for ecommerce and investments in securities. It would be helpful for hotel bookings, purchase of securities in the secondary capital market, as well as purchase of government securities using the central banks’ Retail Direct...
Why we need digital banks and how should they be regulated: NITI Aayog Report Paytm yet to appoint IT audit firm as directed by RBI, Ministry of Finance reveals IMF warns of volatility in financial markets due to crypto and urges India to come up with regulatory framework Procure FASTags fro...
To Deveshwar, the "middle ground" for the RBI now is to cut its cash reserve ratio (CRR) to increase liquidity and balance India's growth-inflation challenge. The CRR is the minimum fraction of total deposits commercial banks have to keep as reserves in either cash or deposits with the ce...
The aim of the Framework is to strengthen cybersecurity initiatives and cybersecurity preparedness of banks in India, as well as to facilitate proactive response and management of cyber incidents. The Framework is written from the perspective that a breach has already happened or it will occur, ...
All banks (to locate your nearest SCB Bank branch,shall provide deposit and/or exchange facility for ₹2000 banknotes until September 30, 2023. The Reserve Bank of India has advised banks to stop issuing ₹2000 denomination banknotes with immediate effect. ...
The Reserve Bank of India (RBI)has decided to reduce the cash reserve ratio (CRR) of all banks by 50 basis points in two equal tranches of 25 bps each to 4.0 per cent of their deposits. This reduction will release primary liqui...
This move brings back memories when India’s first credit bureau CIBIL was being set up in the year 2000. I had a small role to play as my previous organisation was a shareholder of CIBIL responsible for commercial bureau operations. The format and quality of data emanating from banks was ...