Last Updated:February 22, 2025, 10:23 IST The RBI says the penalty has been imposed for non-compliance with directions pertaining to large exposures framework and delay in furnishing of credit information to CICs. RBI says the statutory inspection for Supervisory Evaluation of Citibank was conducted with reference to its financial position as on March 31, 2023….
Last Updated:February 22, 2025, 09:48 IST The Reserve Bank of India has invited public feedback on the draft rules by March 21, 2025, to eliminate foreclosure charges and prepayment penalties on floating rate loans. Once finalised, the RBI’s revised norms will be applicable to eligible loans or advances foreclosed on or after the date specified…
Last Updated:February 21, 2025, 17:42 IST RBI Deputy Governor M Rajeshwar Rao says the “temptation” of short-term gains can easily overshadow the long-term financial security for individuals. RBI Deputy Governor M Rajeshwar Rao. Amid concerns emanating from spurt in unsecured lending and an euphoria in derivatives, Reserve Bank Deputy Governor M Rajeshwar Rao on Friday…
Last Updated:February 12, 2025, 18:10 IST Kotak Mahindra Bank initiated remedial measures to address the supervisory concerns and submitted compliances to the Reserve Bank, says the RBI. The restrictions on Kotak Mahindra Bank were initially imposed on April 24, 2024. The Reserve Bank of India (RBI) on Wednesday lifted restrictions on Kotak Mahindra Bank, allowing…
Last Updated:February 14, 2025, 12:19 IST The MPs say any exemption to Tata Sons from full compliance, including listing, with the RBI Scale Based Regulatory Framework will dilute the level-playing field in the country and set a precedent for other corporates. In September 2022, the RBI classified Tata Sons among 15 NBFCs in the Upper…
Last Updated:February 14, 2025, 13:21 IST ‘We deposited money just yesterday, but they did not say anything… They should have told us that this was going to happen… They are now saying that we will get our money within 3 months,’ says a customer of New India Co-operative Bank. The RBI has imposed several restrictions…
Last Updated:February 14, 2025, 17:21 IST According to the sources, the administrator and advisers have been tasked with quickly assessing the situation, restoring normal banking business operations at the earliest, and trying to revive the bank as soon as possible The RBI imposed restrictions on withdrawals as a precautionary measure to safeguard the interests of…
Last Updated:February 14, 2025, 18:09 IST The Reserve Bank of India has appointed Shreekant, a former chief general manager of State Bank of India (SBI) as ‘Administrator’ to manage the affairs of the bank. The RBI imposed several restrictions on the lender on Thursday including on withdrawal of funds by depositors, amid supervisory concerns. A…
Last Updated:February 15, 2025, 17:19 IST The Mumbai police are questioning New India Cooperative Bank’s General Manager and Head of Accounts, Hitesh Mehta, on Saturday after a case was registered against him and his associates for allegedly embezzling Rs 122 crore of the bank’s funds, officials said. The RBI imposed restrictions on withdrawals as a…
Last Updated:February 17, 2025, 11:48 IST In the RBI’s Monetary Policy Committee (MPC) meeting held between February 05 to February 07, 2025, the members unanimously decided to cut its Repo Rate (benchmark lending rate) by 25 basis points to 6.25 per cent from 6.50 per cent. RBI cut repo rate by 25 bps. SBI Home…