rbi

24Apr

Business

RBI Directs Kotak Mahindra Bank To Stop Onboarding New Customers, Issuing Fresh Credit Cards

The Reserve Bank of India in a press release today directed the the Kotak Mahindra Bank Limited to "cease and desist, with immediate effect, from onboarding of new customers through its online and mobile banking channels and issuing fresh credit cards." Announcing the decision, the regulator stat...

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5Apr

Business

Coming Up: UPI For Cash Deposit Through CDMs

Reserve Bank of India governor Dr Shaktikanta Das announced a proposal today in his monetary policy statement that can make the money deposit process bit more easier. According to the additional measures announced by Dr Das, it has been proposed to facilitate cash deposit at Cash Deposit Machines (C...

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5Apr

Business

RBI Keeps Repo Rate Unchanged For Seventh Consecutive Time

In its latest monetary policy announcement, the Reserve Bank of India (RBI) has decided to maintain the Policy Repo Rate at 6.5%, marking the seventh consecutive time the rate has remained unchanged. RBI Governor Shaktikanta Das underscored the central bank's commitment to stability and said the gro...

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2Apr

Technology

Juice Jacking: Why We Should Think Twice Before Using Public USB Charging Ports

Public USB charging ports are now available at every location, like airports, hotels, cafes, and bus stands. Most smartphone users depend on these charging ports when their devices run out of battery while traveling. However, it should be noted that the technology is advancing day by day, and scamme...

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28Mar

Business

Kotak Donated Rs 60 crore To BJP Amid Crucial Decisions By RBI On Kotak Mahindra Bank

The electoral bond data released by the Election Commission has brought attention to Kotak Mahindra Bank and its chairman, Uday Kotak. A report by Scroll.in highlights that the bank’s subsidiary, Infina Finance Private Limited, purchased electoral bonds worth a significant amount of Rs 35 crore to t...

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1Mar

Business

97.62% Of Rs 2000 Banknotes In Circulation Returned: RBI

The Reserve Bank of India (RBI) has revealed that 97.62% of the Rs 2000 denomination banknotes in circulation as of May 19, 2023, have been returned. According to the latest data published by the RBI, the total value of Rs 2000 banknotes in circulation has drastically declined from Rs 3.56 lakh cror...

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26Feb

Business

Paytm Bank Reconstitutes Board, Fintech Firm’s CEO Quits Board As RBI Troubles Mount

In response to mounting regulatory challenges from the Reserve Bank of India (RBI), Paytm Payments Bank Limited (PPBL) has taken decisive action by reconstituting its Board of Directors. This move comes amidst ongoing scrutiny from the RBI over persistent non-compliance and material supervisory issu...

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21Feb

Business

Stronger Than Expected Growth For Global Economy And Continued Momentum For Indian Economy, Says RBI Bulletin

The Reserve Bank of India (RBI) has released the monthly bulletin for February 2024. A likelihood for “stronger than expected growth” for the global economy with “broadly balanced” risks and an Indian economy which continues to exhibit the momentum, which was achieved in the first half of 2023-24, b...

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19Feb

Business

Paytm Assures Continuity Of QR Code And Soundbox Amid Regulatory Scrutiny

Amidst regulatory turbulence, Paytm founder and CEO Vijay Shekhar Sharma has reassured users that the company’s QR code and Soundbox functionalities will stay active beyond March 15. Addressing the swirling rumours, Sharma emphasised that Paytm’s QR code, Soundbox, and EDC (card machine) will rem...

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17Feb

Business

The Paytm Payments Bank Puzzle

The Paytm Payments Bank Limited (PPBL) had hit a setback with restrictions issued by the RBI on January 31, 2024 on the basis of persistent non-compliance and material supervisory issues in the PPBL. On this matter, after the RBI exercised its powers against the PPBL under Section 35A of the Banking...

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