by paras | May 31, 2024 | 2024, News Letter
This month, RBI improves the governance of Asset Reconstruction Companies (ARC’s) by strong compliance of rules for increasing participation and investment in distressed asset resolution. RBI requires banks to increase its provisions for project finance from 1-2% to...
by paras | Apr 30, 2024 | 2024, News Letter
This month, RBI banned Kotak Mahindra Bank from adding any new customers due to non compliance. This ban will continue until they fix the issue. SFBs can now covert to Universal Banks if they meet the criterion set by RBI. So far, only AU Small Finance Bank meets the...
by paras | Dec 31, 2023 | 2023, News Letter
RBI Governor raised UPI transaction limits and simplified e-mandates for recurring online payments, exempting debit transactions below Rs 1 lakh from OTP authentication, and enhancing user convenience for payments to hospitals and educational institutions via UPI...
by paras | Oct 31, 2023 | 2023, News Letter
The RBI’s Reserve Bank Innovation Hub launched a Public Tech Platform for seamless credit, centralizing borrower data from banks, NBFCs, Fintech, and startups to boost efficiency. Axis Bank is piloting the platform, leveraging PAN, Aadhaar e-KYC, and Account...
by paras | Sep 30, 2023 | 2023, News Letter
HDFC Bank and HDFC Ltd merged, creating India’s largest bank with a market capitalization of ₹14.6 lakh crore. HDFC Ltd shares were delisted, and HDFC Bank issued new shares to eligible shareholders in exchange, becoming the world’s 4th most valued bank....
