[ad_1] MUMBAI: One97 Communications is likely to partner SBI, HDFC Bank, Axis Bank and Yes Bank to settle UPI transactions once it gets the third-party app provider licence.Banking sources said that the switchover will be smooth and phased, as the @paytm handle will be retained. However, instead of pointing to PPBL, these handles will point…
[ad_1] New KYC updation process soon? Banks are working on strengthening their KYC (Know Your Customer) standards by adding extra verification layers to identify accounts and account holders. This initiative is being discussed with the Reserve Bank of India (RBI) and the government. The plan includes updating all existing accounts, especially those with a single…
[ad_1] Q1: What has the Reserve Bank proposed regarding climate-related financial risks?A1: The Reserve Bank has proposed making it mandatory for banks and Non-Banking Financial Companies (NBFCs) to disclose information about their climate-related financial risks on a standalone basis.Q2: What are climate-related financial risks?A2: Climate-related financial risks refer to potential risks that may arise from…
[ad_1] MUMBAI: Banks’ share in the outstanding loans to microfinance companies has dropped to 31% in Sept 2023 from 40% in Sept 2021. Banks have lost market share to non-banking finance companies and small finance banks during the period, with both these categories of lenders increasing their share.NBFCs (microfinance companies) had lost market share in…
[ad_1] Bharat Bandh: Amid ongoing farmer protests for laws on minimum support prices (MSPs) and agricultural reforms, the Samyukat Kisna and the Kisan Mazdoor Morcha have jointly called for a Bharat Bandh on February 16. According to a report by ET, the nationwide strike could affect many services. Let’s see how you might be impacted…
[ad_1] MUMBAI: RBI deputy governor M Rajeshwar Rao said that large finance companies retain certain advantages over banks and face comparatively lighter regulation due to RBI’s nuanced regulatory approach.Rao, who was refuting criticism that finance companies were being regulated on a par with banks, said that NBFC have a less stringent regulatory framework.The deputy governor…
[ad_1] Bank holidays January 2024: In 2015, the Reserve Bank of India established that all Indian banks, whether private or public sector, would remain closed on the second and fourth Saturdays of each month. Despite this, confusion persists among bank customers regarding whether the upcoming Saturday is a working day or a day off. Here…
[ad_1] MUMBAI: Reserve Bank of India on Thursday released the 28th issue of the Financial Stability Report, December 2023 reflecting the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the Indian financial system.According to the RBI report, Scheduled Commercial Banks‘ gross…