The action will promote a more resilient financial system by rewarding safer institutions with reduced insurance costs. Conversely, a greater cost burden on weaker banks can also make it more difficult for them to compete. In deposit insurance, the Reserve Bank of India (RBI)‘s proposal to replace the long-standing flat-rate premiums banks currently pay with … Read more
The expectation is that self-regulatory organizations would assist in creating industry best practices and standards and make sure that members follow them. FIDC Gains SRO Status The Finance Industry Development Council (FIDC) was awarded “self-regulatory organization” status by the Reserve Bank of India (RBI) on Friday in an effort to promote regulatory compliance in the … Read more
Since the RBI incorporates incoming data printouts into its response function, its wait-and-watch strategy is generally wise. RBI Unveils Banking Reforms Ultimately, this strategy proved to be more intriguing than any market participant had expected. As widely anticipated, there was no rate cut, and the position remained unaltered. The dull part, however, comes to an … Read more
While JM Financial said that the MPC’s statement would be crucial regardless of whether it maintains the present position or indicates future easing, a note by Nuvama stated that the RBI may first assess the effect of GST rationalization on consumption before proposing a rate decrease. During the next Monetary Policy Committee (MPC) review, the … Read more
The Blind Graduates Forum of India, the All India Confederation of the Blind, George Abraham, a visually impaired person, and Rohit Dandriyal and Rahul Kumar are among the petitioners. Court Limits Currency Redesign While hearing a lawsuit seeking the introduction of ₹50 notes with unique identification features for visually challenged people, the Delhi High Court … Read more
In July, the Indian rupee had its worst decrease since September 2022, falling 2%. According to figures issued Monday as part of the central bank‘s monthly bulletin, the Reserve Bank of India (RBI) sold a net $2.54 billion in the spot foreign currency market in July. The RBI claimed to have sold $2.54 billion and … Read more
The action comes amid a renewed push by Indian banks to expand into retail lending in recent years, after a wave of corporate loan failures that left several bankrupt. RBI Pushes Banks’ Fees According to persons familiar with the situation, the central bank of India is pressuring lenders to reduce costs for certain consumer items, … Read more