Reserve Bank of India

RBI Approved Appointment Of Pralay Mondal As CEO Of CSB

RBI Approved Appointment Of Pralay Mondal As CEO Of CSB

CSB Bank Limited received the approval for the appointment of Pralay Mondal as the Managing Director and Chief Executive Officer from the Reserve Bank Of India (RBI) on September 15, 2022. The appointment was announced in the meeting held on the same day with the Boards of Directors.  Pralay Mondal’s appointment as MD and CEO…

RBI Plans To Levy Charge In Payment System, Govt Denies

RBI Plans To Levy Charge In Payment System, Govt Denies

The Union Finance Minister on Sunday said that the government is not considering levying any charge carried out through the Unified Payments Interface (UPI). This came amid speculation when the Reserve Bank Of India (RBI) planned to impose costs on the payment system, including UPI, NEFT and IMPS. The central government also said that other…

Unity Small Finance Bank Names Inderjit Camotra As New MD and CEO 

Unity Small Finance Bank Names Inderjit Camotra As New MD and CEO 

Unity Small Finance Bank Limited announced the appointment of a new managing director and chief executive officer on Friday. The bank names Inderjit Camotra for this significant role.  Inderjit Camotra is a senior banker with over 25 years of experience across India’s banking sector. He held various leadership positions at Standard Chartered Bank, ANZ, and…

India’s Q1 GDP Growth Slows From Previous 2 Quarters

India’s Q1 GDP Growth Slows From Previous 2 Quarters

India’s economic growth is likely to stumble again in the first quarter of this year due to Omicron-related restrictions and higher inflation, according to the reports.  The reason behind this consecutive drop in the GDP is the surge in COVID-19 infection caused by the coronavirus variant – Omicron, which resulted in restrictions on the activity…

RBI Raised Repo Rate By 40 bps: How It Will Affect

RBI Raised Repo Rate By 40 bps: How It Will Affect

RBI (Reserve Bank of India) on Wednesday, raised its key lending rate by 40 basis points to 4.40% with immediate effect after the emergency meeting. Along with this, the Central Bank also announced a hike in the cash reserve ratio by 50 basis points. The decision was taken by the Monetary Policy Company (MPC) in…

RBI Discussing Digital Lending Guidelines With Industry Bodies

RBI Discussing Digital Lending Guidelines With Industry Bodies

The Reserve Bank of India is involved in discussions with digital lending and consumer associations as it is on the way to finalising the guidelines on digital lending. The RBI has held a meeting with the Digital Lenders Association on India (DLAI) and the Fintech Association for Consumers Empowerment (FACE) on this matter and there…

Adani‌ ‌With‌ ‌54‌ ‌Others‌ ‌Interested‌ ‌To‌ ‌Acquire‌ ‌Reliance‌ ‌Capital‌ 

Adani‌ ‌With‌ ‌54‌ ‌Others‌ ‌Interested‌ ‌To‌ ‌Acquire‌ ‌Reliance‌ ‌Capital‌ 

Fifty-four companies, including Adani Finserve, ICICI Lombard, Tata AIG, Nippon Life Insurance, and HDFC Ergo, have shown their interest in acquiring debt-ridden Reliance Company Group, according to the sources.   Other bidders are Yes Bank, Bandhan Financial Holdings, Cholamandam Investment, Blackstone Brookfield, KKR, TPG, Oak Tree Capital, Piramal Finance, and Poonawala Finance.  The last date of…

RBI Normalises Liquidity After The Secondary Sales Of Securities

RBI Normalises Liquidity After The Secondary Sales Of Securities

The Reserve Bank Of India recently sold sovereign securities worth rupees 1,435 crores in the secondary market, clearing the sign of liquidity mobilisation.  Indian benchmark yields hit their highest level in the past two years, due to the sale of bonds in the recent auctions. Resulting in a rise of the 10-year-old bond yield of…

Rakesh Jhunjhunwala and R K Damani to Buy 10% Stake in RBL Bank

Rakesh Jhunjhunwala and R K Damani to Buy 10% Stake in RBL Bank

Rakesh Jhunjhunwala, Ace investor, and R K Damani, D-Mart’s founder, have approached the Reserve Bank of India to acquire 10% stakes in the Ratnakar Bank Limited (RBL), according to the CNBC TV 18 report. The reports suggested by the channel that the RBI is in the process of examining the request.  The news comes a…

RBI Has Changed Online Payment Rules- Effective From New Year

RBI Has Changed Online Payment Rules- Effective From New Year

Reserve Bank of India has Announced Changing the Guidelines for Merchants and Gateways. The Revised Online Payment Rules Will Be in Effect from January 1. Read This Post To Know Everything About Newly Amended Rules.  With a bounce in digital payments in India, the chances of fraud have also increased. Online transactions are always prone…