US official privately criticized RBI ban on Mastercard

A senior US trade official privately criticized India’s July decision to ban Mastercard Inc from issuing new cards, calling it a draconian move that caused panic , a global news wire reported. Continue Reading

RBI cautions against digital lending apps

Amid reports about individuals/small businesses falling prey to growing number of unauthorised digital lending platforms/apps on promises of getting loans in quick and hassle-free manner, the Reserve Bank of India has issued a caution today. Continue Reading

RBI allows Centrum to take over PMC

Diversified financial services player Centrum Group on Friday said it has received an in-principle approval from the Reserve Bank of India (RBI) to take over the troubled cooperative lender PMC Bank and re-launch it as a small finance bank. Continue Reading

ATM charges increased to Rs 21 from 1 January

The Reserve Bank of India (RBI) has allowed the banks to hike the fee charged on cash withdrawal beyond the permitted free ATM transaction limit from Rs 20 to Rs 21 per transaction, with effect from 1 January, 2022. Continue Reading

‘RBI should not permit payment platform by corporates’

An employee union of the country’s largest lender SBI in association with a global alliance on Tuesday asked the Reserve Bank not to allow large corporates to set up payment networks as it could lead to compromise on data safety. Continue Reading

RBI keeps key policy rate unchanged

The Reserve Bank of India today kept its key policy rates unchanged for the sixth consecutive time and at record lows, as it continued with its ‘accommodative stance to revive and sustain growth on sustainable basis’ amid the second wave of the Covid-19 pandemic. Continue Reading

Banks begin process of restructuring of loans

To provide support to small businesses hit by the second coronavirus wave, banks have initiated the process of restructuring of loans up to Rs 25 crore in line with the Covid-19 relief measures announced by the Reserve Bank earlier this month. Continue Reading