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RBI to implement some recommendations of working group on digital lending   The RBI has accepted some recommendations made by the working group on digital lending (WGDL), effective immediately.   Here are a few of the key recommendations: * Loan disbursals and repayments can only happen between the bank accounts of borrowers and an RBI-regulated entity without any pass-through.   ...

Bandhan Bank hikes savings account interest rates   Bandhan Bank has increased the interest rates on its savings accounts. According to the Bandhan Bank website, the new interest rates are effective from August 8, 2022. On savings accounts with a daily balance up to Rs 1 lakh, the bank would continue to give a 3% interest rate. The bank raised ...

RBI categorises digital lenders into three groups, releases guidelines After a long wait, the Reserve Bank of India (RBI) on Wednesday released the digital lending guidelines based on the principle that lending business can be carried out only by entities that are either regulated by the central bank or entities permitted to do so under any other law.   The ...

FY23’s interest coverage ratio likely to deteriorate: Bank of Baroda study   The interest payments of the companies is going to increase going forward because interest rates are expected to go up in the rising rate cycle where the Reserve Bank of India (RBI) has already front loaded 140 basis points hike in policy rate.   Interest payments will also ...

[ad_1] The Indian national flag is being sold in post offices around the country as part of the Har Ghar Tiranga promotion as the nation gets ready to commemorate its 75th Independence Day. Thanks to a government modification to the Flag Code of India, the Indian flag may now fly at homes throughout the day and night. The Tricolour could ...

ICICI Bank, PNB, Bank of Baroda lift loan rates post RBI rate hike Following a 50-basis-point rate hike by the Reserve Bank of India (RBI), private lender ICICI Bank and state-owned Punjab National Bank and Bank of Baroda raised lending rates. On Friday, the RBI’s Monetary Policy Committee raised the repo rate to 5.40 per cent from ...

[ad_1] Which documents are needed? You will have to submit the PAN, identity and address proofs, and A2 cum LRS declaration form. Depending on the purpose of remittance, you may also have to provide specific documents, such as passport, visa, ticket, invoices from travel agency, or as specified by the bank or transferring agency. If you are sending money to ...

Rupee falls as strong US jobs data rekindles fear of aggressive Fed hikes The Indian rupee weakened sharply versus the dollar on Monday as a stronger-than-expected US jobs report rekindled concerns over aggressive rate hikes by the Federal Reserve, dealers said. At 10:00 am IST, the rupee was trading at 79.54 per dollar as against 79.25 per dollar at ...

[ad_1] Banks in India are closed on certain festivals, which vary from state to state. Many states observe Raksha Bandhan, which falls on August 11 and 12 depending on the state. Here is a look at states where banks will be closed for Raksha Bandhan, i.e., August 11 and 12. August 11, 2022 (Thursday) Raksha Bandhan-Gujarat, Madhya Pradesh, Uttarakhand, Rajasthan, ...

Coinbase reports $1.1 billion in net loss, revenue drops 60% in Q2 Largest cryptocurrency exchange Coinbase has reported a massive loss in both revenue and profit in the June quarter — logging $1.1 billion in net loss as revenue declined from $2.033 billion to $803 million from a year-ago quarter which is a sharp drop of nearly 60 per ...