RBI plans incentives for lenders to take defaulters to bankruptcy court

The Reserve Bank of India (RBI) is planning to provide incentives to lenders to encourage them to take defaulting borrowers to the bankruptcy court, according to reports. Continue Reading

RBI cuts repo rate by 0.25 bps to 6%

The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das today announced reduction of repo rates by 0.25 bps points to 6 per recent in its first bi-monthly monetary policy of 2019-20.
The move is expected to lead to reduction of lending rate by banks leading to lower EMI for housing, car loan and corporate borrowers. Continue Reading

Paytm Payments Bank resumes KYC process after RBI gives its nod

“PPBL has received a formal nod from the RBI to start onboarding new customers while resuming KYC for the bank as well as wallet customers starting from 31 December 2018,” PPBL said in its latest statement. Continue Reading