Most of the digital lending apps are not registered with the RBI: Police will take necessary action on receipt of complaint says RBI governor
While speaking at the Iconic Week celebration as part of the ‘Azadi Ka Amrit Mahotsav’ to mark the 75th anniversary of Independence, organised by the Central Board of Indirect Taxes and Customs (CBIC), today RBI Governor Shaktikanta Das said that most of the digital lending apps are not registered with the central bank and operate…
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RBI enhances Additional Factor of Authentication (AFA) limit up to Rs.15000 for Recurring e-Payments
In the statement of developmental and Regulatory policies dated June 8, 2022, the Reserve Bank of India stated that the auto-transactions up to Rs 15,000 no longer require customers to authenticate such payments manually with a One Time Password (OTP). This is after the regulator received requests from several stakeholders to increase the limit under…
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RBI issues guidelines to market participants regarding exchange of variation margin (VM) for NCCDs
In today’s (June 8, 2022) statement of development and regulatory policies the Reserve Bank of India issued guidelines to market participants regarding the exchange of variation margin (VM) for non-centrally cleared derivatives (NCCDs). Derivatives are financial instruments whose value is derived from other underlying assets. There are mainly four types of derivative contracts such as…
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RBI doubles Individual Housing Loan limits by Cooperative Banks
In today’s (June 8, 2022) statement of development and regulatory policies, the Reserve Bank of India (RBI) announced measures to support cooperative banks by doubling the credit limits for the individual borrowers of Primary (Urban) Co-operative Banks (UCBs) and Rural Cooperative Banks (RCBs) – State Cooperative Banks and District Central Cooperative Banks. According to the…
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RBI hikes REPO rate by 50 basis points, bank rate and MSF also spiked to 5.15%
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Wednesday hiked the repo rate by 50 basis points (bps) to 4.90 per cent. The move comes barely a month after the central bank in a surprise off-cycle meeting had jacked up the repo rate by 40 basis points to 4.40 per cent to…
If you have not yet linked PAN-Aadhaar this is the news for you
Have you linked your PAN card with aadhar? If not do it fast to avoid a double penalty from 1st July. Further, your PAN card may become inoperative if the same is not linked to aadhaar before the deadline of March 2023. Central Board of Direct Taxes (CBDT), circular vide F.No. 370142/14/22-TPL dated on 30th…
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