The Reserve Bank of India (RBI) is expected to cut the interest rates later this year, thus kicking off the rate cut cycle in the market. However, RBI in its Feb 2024 monetary policy meeting (MPC) kept the interest rates unchanged for the sixth time in a row. But this is expected to change as the banking … Read more
Recent developments have shown promise for Paytm, as it obtained approval from the National Payments Council of India (NPCI) to operate as a third-party app, allowing it to function similarly to competitors like Google Pay and PhonePe. Moreover, Paytm has forged partnerships with Axis Bank, HDFC Bank, SBI, and Yes Bank to facilitate seamless business … Read more
Digital banking has brought a paradigm shift to the way we carry out financial transactions. The collateral damage, however, is the spate of frauds that accompany it. To minimise these frauds, the banking regulator has taken a number of steps so that banking remains safe and secure. Deputy governor of Reserve Bank of India (RBI) Swaminathan … Read more
Mumbai: IIFL Finance has taken several corrective measures to set its house in order after Reserve Bank of India’s diktat to stop disbursing gold loans. The non-bank lender has announced a capital raising plan to boost its capital adequacy and also changed its board and management to improve governance and compliance. In an exchange filing … Read more
NEFT system has achieved a milestone on leap day i.e., on February 29, 2024, by processing 4.10 crore transactions, the highest ever in a day so far. The precise number was 4 crore 10 lakh sixty-one thousand three hundred and thirty-seven, announced Reserve Bank of India (RBI) on Friday. In the past ten years (i.e., … Read more
In the course of preparing the budget, you have laid down a roadmap for a developed India. What are the key takeaways you intended for us? This process started before 8 October, when Prime Minister Narendra Modi addressed the nation from Red Fort (on 15 August). We believe ‘Amrit Kaal’ as ‘Kartavya Kaal’ as well. … Read more