Automatic and recurring mobile phone payments, utility bills, as well as subscription charges for over-the-top (OTT) platforms are likely to be discontinued as of April 1, thanks to a new Reserve rule. Bank of India (RBI). Originally announced in August 2019 and then revised in December, RBI’s new rule required …
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A negative yield was traded for the first time on India’s sovereign bond trading platform on Friday, traders said, prompting intense speculation about why. The 6.17% bond due 2021 was offered with a negative return of around 1.5%, according to traders who saw the listing on the Clearing Corporation of …
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Finance Minister Nirmala Sitharaman has made it clear that there will not be a complete ban on cryptocurrencies or at least the technological part of it. “For our part, we are very clear that we do not close all the options. We will allow certain windows for people to experiment …
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RBI concluded that the charge of non-compliance with the instructions was substantiated and justified the imposition of a monetary penalty. The Reserve Bank of India (RBI) on Tuesday imposed a monetary sanction of Rs 2.50 million on Bajaj Finance for using coercive recovery methods from its borrowers and for violating …
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As for the year 2021, banks in India will be closed for more than 40 days. In January 2021, banks in India will be closed for 14 days, including four Sundays, second and fourth Saturdays, and a national holiday. According to the Reserve Bank of India (RBI), these holidays can …
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NEW DELHI: As economic activities gather momentum and struggle to return to pre-Covid levels, the Reserve Bank of India has said that the Indian economy is rebounding at a higher rate than most other predictions. The central bank’s monthly bulletin for December said that more evidence has emerged since the …
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The Reserve Bank of India (RBI) on Wednesday warned consumers against questionable digital money lenders that promise loans in seconds at exorbitant interest rates and then use their powers to recover installments. The Central Bank in a statement said that there have been reports of individuals / small businesses falling …
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The Reserve Bank of India (RBI) on Wednesday warned individuals and small businesses not to fall victim to a growing number of unauthorized digital lending platforms and mobile apps with promises of borrowing. quickly and without complications. These platforms charge excessive interest rates and additional hidden fees, adopt unacceptable and …
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On Friday, the Reserve Bank of India extended restrictions on the ailing Punjab and the Maharashtra Cooperative Bank (PMC) for three months until March 31, 2021. The RBI also said that four proposals have been received for the Expression of Interest (EoI) requested by the multi-state urban cooperative bank affected …
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NEW DELHI: A relentless flood of funds rushing into Indian markets may tip the central bank’s delicate balancing act in 2021. For most of this year, the Reserve Bank of India has limited exchange gains as global investors invested around $ 50 billion in stocks and shares in companies. This …
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