Browsing: RBI

The RBI said it has also extended the time for repatriating money in foreign currency accounts maintained in the International Financial Services Centre (IFSC) in India from one month to three months.

Finance Minister Nirmala Sitharaman launched GIFT City’s foreign currency settlement system, enabling local settlement of international transactions. She also highlighted India’s AI advancements and the impact of Direct Benefit Transfers, while emphasizing support for Global capability and fintech’s role in democratizing finance.

The regulatory review cell (RRC), which will come into effect from October 1, has been constituted within the Department of Regulation.

The South Central Railway (SCR) has introduced biometric attendance for ticket checking staff at six Travelling Ticket Examiner (TTE) lobbies in SCR Zone.

The 7 sutras include Trust is the Foundation, People First, Innovation over Restraint, Fairness and Equity, Accountability, Understandable by Design and Safety, Resilience and Sustainability.

The 7 sutras include Trust is the Foundation, People First, Innovation over Restraint, Fairness and Equity, Accountability, Understandable by Design and Safety, Resilience and Sustainability.

Effective January 1, RBI requires regulated entities in co-lending to retain 10% of each loan on books, cap default loss guarantee at 5%, and align asset classification between partners

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Further, the norms stated that banks should obtain consent from customers for providing digital banking services

Reserve Bank of India proposes new digital banking guidelines. Banks cannot display third-party products on their digital platforms. Banks must monitor transactions for fraud. Customer consent is needed for digital banking services. Banks need RBI approval to launch transactional banking. These measures aim to enhance security and customer choice in digital banking. Stakeholders can share comments until August 11.