india

RBI lifts restrictions on Diners Club International

RBI had, by order dated April 23, 2021, imposed restrictions on Diners Club International Ltd. The Reserve Bank of India (RBI) has lifted business restrictions imposed on Diners Club International Ltd and now the firm will be able to onboard new customers in India. “In view of the satisfactory compliance demonstrated by Diners Club International […]

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IMPS limit raised to Rs 5L from Rs 2L

“In view of the importance of the IMPS system and for enhanced consumer convenience, it is proposed to increase the per transaction limit from Rs two lakh to Rs five lakh,” the RBI said. The Reserve Bank of India (RBI) has raised the transaction limit in Immediate Payment Service (IMPS) from Rs 2 lakh to […]

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RBI extends SLTRO facility for SFBs till December 31

Earlier, a three-year SLTRO facility of ₹10,000 crore at the repo rate was made available to small finance banks in May 2021 till October 31, 2021. Reserve Bank of India (RBI) on Friday announced to extend the tap on Special Long-Term Repo Operations (SLTRO) for small finance banks (SFBs) till December 31, 2021. A three-year […]

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RBI to buy, sell G-secs on Sept. 30

The Reserve Bank of India (RBI) on Thursday said it would conduct open market purchase of government securities under the Government Securities Acquisition Programme 2.0 for ₹15,000 crore on September 30, 2021. On review of current liquidity conditions, the RBI also decided to conduct simultaneous sale of government securities under Open Market Operations for ₹15,000 […]

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RBI lifts PCA curbs on IOB post review

“The performance of the Indian Overseas Bank, currently under the Prompt Corrective Action Framework of RBI, was reviewed by the Board for Financial Supervision,” the RBI said Indian Overseas Bank (IOB) has been taken out of Prompt Corrective Action (PCA) restrictions subject to certain conditions and continuous monitoring, the Reserve Bank of India (RBI) said […]

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Tightrope walk: On reining in inflation and RBI’s credibility

The RBI should not undermine its own credibility by delaying steps to rein in inflation Asserting that domestic economic activity has started to recover with the ‘ebbing of the second wave’, the MPC is hopeful of a bounce back in rural demand on the back of agricultural output remaining resilient, coupled with urban consumption recovering […]

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G-secs: RBI unveils retail direct scheme

The RBI on Monday announced the unveiling of a scheme under which retail investors will be allowed to open retail direct gilt accounts (RDG) directly with the central bank. This account can be opened through a dedicated online portal, which will provide registered users access to primary issuance of government securities and to NDS-OM. “The […]

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RBI sets norms for NBFC dividend distribution

The Reserve Bank of India (RBI) has decided to prescribe guidelines on distribution of dividend by NBFCs to infuse greater transparency and uniformity in the practice. The guidelines will be effective for declaration of dividend from the profit for the financial year ending March 31, 2022 and onwards. “The board of directors, while considering the […]

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PNB Housing Fin deal under RBI, SEBI lens

The Reserve Bank of India (RBI) as well as SEBI will look into various regulatory issues related to the proposed ₹4,000 crore-investment by U.S.-based private equity firm Carlyle and others in PNB Housing Finance, sources said on Monday. According to the sources, concerns of minority shareholders, corporate governance and others regulatory aspects would be looked […]