Finance News

RBI revises norms for classifying UCBs as financially sound & well managed As a step to enhance the profile of urban cooperative banks (UCBs), Reserve Bank of India today prescribed revised norms to categorise UCBs as Financially Sound and Well Managed (FSWM) banking entities. These norms are applicable with immediate effect. For categorising themselves as FSWM category ...

RBI announces 4-tiered regulatory framework for urban cooperative banks The Reserve Bank of India (RBI) on Thursday announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs), Besides, the central bank has come out with norms pertaining to the net worth and capital adequacy of these banks. The four-tiered regulatory framework, based on size of ...

Reserve Bank of India issues framework for Indian banks’ foreign biz The Reserve Bank of India (RBI) has put in place a framework to allow overseas subsidiaries and branches of Indian banks and financial institutions to undertake activities not specifically permitted in the Indian domestic market. The framework also specifies the applicability of these instructions to International ...

e-Rupee: RBI creates Rs 1.71 crore of digital currency for retail pilot The pilot project for central bank digital currency (CBDC) in the retail segment went live on Thursday with the Reserve Bank of India (RBI) issuing Rs 1.71 crore to four participating banks based on their indents. The central bank has identified four banks for the ...

Govt proposes issuance of one licence for all kinds of insurance The finance ministry has proposed a host of amendments to the insurance laws – from granting insurers a composite licence to allowing them to sell different financial products and increasing the retirement age of the chairman and whole-time members of the Insurance Regulatory and Development Authority (Irdai). ...

RBI conditional approval to Carlyle, Advent’s stake buy in YES Bank The Reserve Bank of India (RBI) has issued conditional approval to funds affiliated to global private equity investors Carlyle and Advent International with regard to the planned acquisition by each of them of 9.99 per cent of share capital of YES Bank. “We hereby inform you ...

HDFC Bank completes mega bond issuance amid strong demand: Analysts India’s HDFC Bank on Thursday completed the largest-ever bond issuance by any bank amid strong demand from long-term investors, but the large fundraise is unlikely to impact yields for upcoming issues from banks as there is enough demand, said analysts. The private lender raised 150 billion rupees ...

What does e-rupee mean for you? India’s digital rupee is making its retail debut today. Soon, people will use this digital currency for daily transactions. Find out how it’s going to be different from digital wallets and UPI

RBI seen raising interest rates by 35 bps in December MPC meet: Poll The Reserve Bank of India will raise interest rates by a smaller 35 basis points to 6.25% in December, according to economists polled by Reuters who expect another modest move up early next year to curb lingering inflation pressures. A strong two-thirds majority said ...

Digital Rupee: Low-value transactions via digital rupee to be kept anonymous: Report The Reserve Bank of India (RBI) has reportedly asked the banks to not report low-value transactions made through the digital rupee to ensure that it offers the same degree of anonymity as dealing with cash. According to a report by Economic Times (ET), once the Central Bank-backed ...