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The Reserve Bank of India has imposed a monetary penalty of Rs 1.91 crore on Axis Bank for operating a technology service provider and violating the Banking regulation Act, 1949. Section 6 of the Act, which charts the activities permissible for a bank to undertake, does not include operating ...
The Reserve Bank of India (RBI) will create a public repository for Digital Lending Apps, Governor Shaktikanta Dassaidat the Monetary Policy Committee (MPC) meeting on August 8, 2024. The repository aims to combat the spread of fraudulent digital lending apps. The RBI also announced that it w...
Monetary & Fiscal Policy (Post-1991 Reforms) Economic Survey & Union Budget Priorities Financial System Money & Financial Markets Role of Banks & Reserve Bank of India Public Finance Political Economy’s Influence Economic Sectors Industrial Developments Importance of Agriculture Services Sector Growth Glo...
In his RTI request, Lakshmanan had asked RBI for month-wise or cumulative summary statistics on the usage of e-rupee retail with regards to: Number of users having a wallet. Number of transactions made between wallets. Number of wallet load transactions done. ...
In his address at theMonetary Policy Committee Meetingon October 9, Governor Shaktikanta Das pointed out that certain NBFCs, including microfinance institutions (MFIs) and housing finance companies (HFCs), were “chasing excessive returns on their equity” influenced by their funding from domestic and...