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Banking Awareness Preview Buy Now Topic: Indian Economy/Financial Market 1. India is going to be the biggest labour supplier in the world. Remittances will increase from $115 billion in 2023 to about $160 billion in 2029, as per the RBI's Report on Currency and Finance (RCF). With 13.5...
The extension of the PCA framework for NBFCs to government NBFCs (except those in the base layer) will be based on the audited financials of these NBFCs as of March 31, 2024, or thereafter. Prompt corrective action (PCA) framework for non-banking financial companies (NBFCs) became effectiv...
Operated by National Payment Corporation of India (NPCI), AePS is a payment system that enables financial transactions through Aadhaar number and biometrics or OTP authentication. AePS enables basic banking services such as cash withdrawal, balance enquiry, mini statement, cash deposit, fund transfer...
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 ...
Current digital lending models in India are numerous. Partnerships between regulated lenders (driven by non-banking financial companies and banks) and customer facing non-banks are common, and provide mobile and web based applications called digital lending applications (DLAs). The regulated entities or...
“While the pandemic and increasing internet penetration across India accelerated the demand for digital banking, the need for breaking through untapped markets has compelled traditional banks to go branchless too. This is reflective of the exponential growth that BCs (Business Corr...
Due to global issues, liquidity is becoming a problem. Though the phase is temporarily, the concern cannot be ruled out. Indian real estate sector is banking on the fact that change will take place and market will come out of the situation. The fact of the matter is that next 12 months...
On October 10, 2024, RBI updated the Master Direction – Non-Banking Financial Company – Housing Finance (‘HFC Directions’) applicable to HFCs. The HFC Directions were updated to consolidate various circulars that have been issued since its last update on March 21, 2024. A significant change...
The Reserve Bank of India acknowledges the pivotal role that communication plays in modern central banking. On its website, it emphasizes a collegial approach to monetary policy decision-making. The Reserve Bank of India's communication policy adheres to guiding principles of relevance, transparency,...