rbi: RBI imposes over Rs 1.73-cr fine on HSBC for wrong credit card data [ad_1] The Reserve Bank of India (RBI) has imposed a penalty of Rs 1,73,75,000 on The Hongkong and Shanghai Banking Corporation Limited (HSBC Ltd) for the contravention of certain rules under Credit Information Companies Rules, 2006 (CIC Rules). This action is based on the deficiencies in ...

Pension scheme returns ‘exceedingly good’ versus benchmarks: PFRDA By Ira Dugal and Aftab Ahmed India’s national pension scheme offers “exceedingly good” returns of 9-12%, compared to most benchmarks, a top official at the pension fund regulator said on Tuesday. The National Pension Scheme, adopted in 2004, has recently come under criticism for inadequate returns, leading to a few state ...

Reserve Bank of India imposes penalty worth Rs 1.75 crore on HSBC RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement MPC lowers projection for inflation, raises growth outlook a bit in FY24 RBI Monetary Policy: Repo rate up by 25 ...

FSDC pitches for a special drive to settle unclaimed deposits in banks High-powered Financial Stability and Development Council (FSDC) headed by Finance Minister Nirmala Sitharaman on Monday asked the regulators to initiate a special drive to settle unclaimed deposits in banks and financial institutions. Briefing reporters about the discussions in the meeting, Economic Affairs Secretary Ajay Seth it was ...

At record 795 tonnes, RBI's gold reserves see sharp on-year spike Share of foreign currency assets in overseas securities rises to 81% by March

FSDC discusses need for more early warning indicators for economy Amid the continuing liquidity crisis in banks of the West, the Financial Stability and Development Council (FSDC) on Monday discussed the need for more early stress indicators in India’s financial sector to enable regulators to identify potential signs of trouble and deal with them in advance. “Regulators should maintain ...

Banking system sheltered from wider sector turmoil seen globally: FSDC NEW DELHI (Reuters) – India’s Financial Stability and Development Council (FSDC) considers the country’s banking system to be protected from any spillover from issues in the sector globally, the country’s economic affairs secretary said on Monday. Ajay Seth was speaking with reporters after the meeting of FSDC, which ...

Bain Capital seeks to raise $4 bn for new global special situations fund By Kane Wu and Anirban Sen Bain Capital is seeking to raise $4 billion for a new global “special situations fund” as the U.S. firm sees an opportunity to snap up distressed and equity investments, two people familiar with the matter said.   Bain Capital kicked ...

Canara Bank Q4 profit up 90.6% at Rs 3,175 cr, robust NII boosts growth Canara Bank’s net profit rose 90.6 per cent year-on-year (YoY) at Rs 3,175 crore for the quarter ended March 2023 (Q4 FY23) on healthy growth in net interest income (NII). Canara Bank’s net profit rose 90.6 per cent year-on-year (YoY) at Rs 3,175 crore for the ...

Rupee appreciates by 8 paise to 81.70 against US dollar in early trade The rupee gained 8 paise to 81.70 against the US dollar in early trade on Monday tracking the weakness of the American currency in the overseas market. Forex traders said significant foreign fund inflows and crude oil prices below USD 75 a barrel also supported ...