Now it is mandatory to provide a Key Fact Statement to the retail and MSME borowers

On Thursday, February 8, 2024, the RBI Governor Shaktikanta Das in his Statement of development regulatory policy, announced, sets out various developmental and regulatory policy measures relating to (i) Financial Markets; (ii) Regulations; and (iii) Payment Systems and Fintech. Key Fact Statement (KFS): In the recent past RBI has announced several measures to foster greater…

RBI plans to enhance robustness of AePS, secure framework for digital currency and digital payments

In the Statement of Development Regulatory Policy announced on Thursday, the Governor of RBI sets out various developmental and regulatory policy measures relating to Payment Systems and Fintech. Aadhaar Enabled Payment System: In 2023, more than 37 crore users undertook Aadhaar Enabled Payment System (AePS) transactions, which points to the important role played by AePS…

Know about FIMMDA and its functions

The Fixed Income Money Market and Derivatives Association of India (FIMMDA), is an association of Scheduled Commercial Banks, Public Financial Institutions, Primary Dealers, and Insurance Companies. It is a voluntary market body for the Fixed Income, Money, and Derivatives Markets, incorporated as a company under section 25 of the Companies Act 1956. Functions of FIMMDA:…

Achievement of Market Integration in India

Market integration and price transmission, in the case of a large producing and consuming country like India; depend on the geographical dispersion or concentration of production. A shared online market platform for agriculture commodities: While consumers are spread throughout the country, the production and marketed surplus is less spread out, particularly for agricultural commodities. If…