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How to open, close KVP, NSC accounts online via India Post internet banking facility [ad_1] On the occasion of ‘Azadi ka Amrit Mahotsav,’ the Post Office announced the introduction of online account opening and closure for National Savings Certificates (VIII Issue) (NSC) and Kisan Vikas Patra (KVP) in DOP Internet Banking. The Department of Post made this announcement via a ...

India aims to copy China, but unbridled digital lending off policy agenda There’s a lot about Beijing’s decades-long infrastructure push and investment-led growth that India wants to emulate. But when it comes to the consumer economy, aping China’s out-of-control digital lending boom is strictly off the policy agenda. The Reserve Bank of India’s recently released guidelines for app-based loans show ...

Baroda BNP Paribas MF mobilises Rs 1,400 cr from flexi-cap scheme NFO Baroda BNP Paribas Mutual Fund on Thursday said it has collected over Rs 1,400 crore from its flexi-cap scheme during the New Fund Offering (NFO) period. The scheme — Baroda BNP Paribas Flexi Cap Fund — is an open-ended dynamic equity scheme investing across large ...

RBI steps in as rupee slides on corporate outflows; bond yields jump The rupee weakened 23 paise to settle at 79.68 per US dollar on Thursday as foreign banks heavily purchased the greenback on behalf of corporates looking to exit domestic investments, dealers said. Dollar demand from banks on behalf of importers following a recovery in crude ...

Forex market intervention aims met with lower fall in reserves: RBI article The Reserve Bank of India (RBI) has been successful in achieving its foreign exchange market intervention goals with a progressively lower drawdown in its reserves, an article by staff of the central bank said. This is largely owing to the accumulation and timely use of ...

Big-bang privatisation of PSUs can be harmful, says RBI article A gradual approach to privatise public sector banks (PSBs) is more ideal than taking a big-bang approach, a study by Reserve Bank of India (RBI) staff has concluded. It has backed the government’s idea to privatise two PSBs initially. Such a gradual approach would ensure that ...

RBI turns net seller of US currency in June; sells $3.719 bn: Data Reserve Bank of India turned net seller of the US currency in June after it sold USD 3.719 billion on a net basis, the central bank data showed. In the reporting month, the central bank purchased USD 18.96 billion from the spot market and ...

Axis Bank hikes MCLR by 5 bps across tenors, follows other lenders Axis Bank has increased its marginal cost of funds-based lending rate (MCLR) by 5 basis points (bps) across tenors from August 18. The private lender revised its lending rate after the central bank’s monetary policy committee (MPC) on August 5 increased benchmark policy rates by ...

We expect rupee to trade in 79.25-79.75 per dollar range: BoB report The Indian rupee is expected to trade in the 79.25-79.75 per US dollar range in the coming days due to easing crude oil prices and continued inflows by foreign investors, the Bank of Baroda said in a research report. “The global oil price has come down ...

UPI charges may partially offset loss on credit card MDR: RBI paper There is a possibility that fees levied on credit card transactions may eventually come down, either through central bank intervention or otherwise. And the reintroduction of charges on Unified Payments Interface (UPI) may, perhaps, offset the impact of fee reduction in cards for banks, industry participants said. ...