Reserve Bank of India
However, non-deposit taking NBFCs with asset size below Rs 1,000 crore have the option to continue with their extant procedure.
Chakraborty, a 1985 batch IAS officer of Gujarat cadre, retired as Secretary of Department of Economic Affairs in April 2020
The RBI's decision to increase the balance limit is an endorsement of the role Payments Banks have in furthering financial and digital inclusion in India.
Reserve Bank of India (RBI) has kept the key repo rate unchanged at 4 per cent to support growth in the current situation.
Reserve Bank of India on Wednesday expectedly left interest rates unchanged and maintained an accommodative stance as the economy faces a renewed threat.
RBI had directed all banks including RRBs, NBFCs, and payment gateways to comply with AFA for automatic recurring payment by March 31, 2021.
The average base rate charged during the current quarter is 7.96 per cent.
Both RBI and government are committed to financial stability. We have flagged certain concerns around cryptocurrencies which are being traded in the market. We have flagged certain major concerns to the government
The applicant should not be below the rank of a Chief General Manager of the Reserve Bank of India or equivalent thereto in other financial institutions or regulatory bodies, it said.
Amid the pandemic, the credit offtake in banking system remained muted, which led to lesser issuances of certificates of deposits (CDs).