Tuesday, October 22

Tag: rbi policy

RBI introduces two new UPI features! From cash deposit to PPI wallet interoperability – what they mean for you
5Apr By adminNo Comments
Business

RBI introduces two new UPI features! From cash deposit to PPI wallet interoperability – what they mean for you

New UPI features: RBI governor Shaktikanta Das on Friday announced two new features or measures for Unified Payments Interface (UPI) users, with an aim to enhance ease of transactions and cash deposits. The new announcements were made by Shaktikanta Das as a part of RBI’s monetary policy statement.The two new UPI features allow users to deposit cash at Cash Deposit Machines using UPI and also make UPI payments from PPIs using third party apps.Let’s understand what the new UPI features are and what they mean for you:UPI Access for Prepaid Payment Instruments (PPIs) through Third Party AppsWhat RBI governor Shaktikanta Das said: At present, UPI payments from Prepaid Payment Instruments (PPIs) can be made only by using the web or mobile app provided by the PPI issuer. It is now proposed to p...
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Sensex up 100pts; Broader indices down 1%; Praj dips 11%
8Dec By adminNo Comments
Business

Sensex up 100pts; Broader indices down 1%; Praj dips 11%

2:05 PMRBI MPC: Repo rate kept unchanged at 6.5%, FY24 GDP estimate hiked to 7%Reserve Bank's Monetary Policy Committee decides to keep the repo rate unchanged at 6.5% and also keeps the FY24 inflation forecast unchanged at 5.4%. READ MORE 1:52 PMALERT:: LIC pares stake in HDFC AMC; stock down 1.5%LIC in an exchange filing said it reduced its holding in HDFC AMC from 9.046 per cent to 6.953 per cent in the last one year, at an average price of Rs 2,863.45 per share. 1:37 PMCOMMENT:: Not expecting a rate cut anytime soon The MPC's decision to keep the key policy rates steady while staying the course on monetary tightening is the best policy prescription that the central bank could deliver at this point of time.   The tightening cycle, in my view, will continue till t...
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Wilful defaulters must be identified within 6 months
22Sep By adminNo Comments
Business

Wilful defaulters must be identified within 6 months

The Reserve Bank of India (RBI) on Thursday said lenders would have to examine all aspects relating to wilful default on accounts with outstanding dues of Rs 25 lakh or more and identify wilful defaulters within six months of a loan becoming a non-performing asset (NPA). The regulator on Thursday released draft norms on wilful and large defaulters. It has allowed non-banking finance companies and cooperative banks to identify them. A wilful defaulter is a borrower or a guarantor who has defaulted without being constrained to do and the outstanding amount is Rs 25 lakh and above. A large defaulter is one whose amount in default is Rs 1 crore and above. For calculating the cut-off point of Rs 1 crore, the unapplied interest, if any, should be included. For an account th...
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RBI allows HDFC AMC’s stake acquisition in DCB Bank, Karur Vysya, 2 others
21Sep By adminNo Comments
Business

RBI allows HDFC AMC’s stake acquisition in DCB Bank, Karur Vysya, 2 others

The Reserve Bank of India (RBI) has approved HDFC Asset Management Company (HDFC AMC) acquiring a 9.5 per cent stake each in DCB Bank, Karur Vysya Bank, Federal Bank and Equitas Small Finance Bank. “Pursuant to Regulation 30 and other applicable clauses of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Bank has received an intimation from RBI on September 20, 2023, regarding the approval granted to M/s. HDFC Asset Management Company Limited (“HDFC”) to acquire “aggregate holding” of up to 9.5% of the paid-up equity capital or voting rights in ESFBL,” said the small finance bank in an exchange filing on Thursday, Separately, an exchange statement by DCB Bank late Wednesday said: “AMC has been advised by th...
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