Tag: #RBI

RBI to hold its first-ever hackathon, HARBINGER 2021, on payments system

The Reserve Bank of India (RBI) will be organizing its first global hackathon on the theme of digital payments, it said in a statement on Tuesday. “HARBINGER 2021–Innovation for Transformation” with the theme ‘Smarter Digital Payments’ will see participants identify and develop solutions “that have the potential to make digital payments accessible to the under-served, enhance […]

Monetary Policy Committee minutes: Continued monetary support necessary, says RBI governor Shaktikanta Das

With the outlook on inflation improving and projections for the same easing, there is a need for continued monetary support to a still-recovering economy, Reserve Bank of India (RBI) governor Shaktikanta Das wrote in the minutes to the October meeting of the Monetary Policy Committee. However, other RBI executives on the rate-setting panel flagged risks […]

BSE Tech gets RBI in-principle nod to set up, operate Trade Receivables Discounting System

Leading bourse BSE on Tuesday said its arm BSE Technologies Pvt Ltd (BSE Tech) has received in-principle approval from the central bank to set up and operate Trade Receivables Discounting System (TReDS). The TReDS business of BSE will commence only after the receipt of final approval and certificate of license from the RBI, as per a release. TReDS is […]

RBI lifts PCA curbs on Indian Overseas Bank

The Reserve Bank of India today lifted Prompt Corrective Action restrictions from the Indian Overseas Bank, the central bank said in a release. The decision came after the bank reported its earnings for the year ended March 31, 2021, and the RBI observed that IOB was not in breach of the PCA parameters. IOB has also provided a written commitment that it would comply […]

RBI releases H2 govt borrowing plan, dispels fear of additional debt

The Centre will borrow another Rs 5.03 lakh crore in the second half of the financial year, assuaging bond market concerns of large additional sovereign debt raising. The Reserve Bank of India Monday released the plan for government borrowing between October and March. In the first half, it had planned to borrow Rs 7.24 lakh crore. “Second half government […]

SBI’s Amit Saxena joins RBI Innovation Hub as CTO

Amit Saxena, Global Deputy CTO of State Bank of India joins RBI Innovation Hub as the CTO today. On Aug 6, 2020, the Reserve Bank announced that it would set up Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment that would facilitate and foster innovation. […]

Repo rate linked home loan: Here are the interest rates of home loans linked to repo rate

Interest rates on home loans offered by banks are now linked to an external benchmark. This is because the Reserve Bank of India (RBI) has asked all scheduled commercial banks (except regional rural banks), local area banks and small finance banks to link interest rates on retail and MSME loans to an external benchmark rate with […]

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