GNPA of Scheduled Commercial Banks may drastically increase by March 2021: RBI report
Today (July 24), in its 21st issue of the Financial Stability Report (FSR), the Reserve Bank said that their assessment made by Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability reflects a combination of fiscal, monetary and regulatory interventions on an unprecedented scale has ensured normal functioning of financial…
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FAQs on Exchange of Notes and Coins in banks
Q: Which are the banks authorised to exchange notes coins? R: All the bank branches in entire India are mandated to provide facility for exchange of notes and coins to the members of public. Banks are also directed by the banking regulator (RBI) to issue fresh/good quality notes and coins of all denominations whenever customers…
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RBI announces Special liquidity scheme for NBFCs/HFCs
The Government of India on Wednesday July 1, 2020, has approved a scheme to improve the liquidity position of NBFCs/HFCs through a Special Purpose Vehicle (SPV) to avoid any potential systemic risks to the financial sector. The Non-Banking Financial Company (NBFCs), including Microfinance Institutions that are registered with the RBI, under the Reserve Bank of…
Read article RBI directs banks, NBFCs and digital lending platforms to adhere Fair Practices Code and Outsourcing Guidelines
While issuing guidelines, on digital lending platforms on Wednesday (June 24, 2020) the Reserve Bank of India directed banks, NBFCs and digital lending platforms to disclose full information upfront on their websites to customers. The direction comes against the backdrop of several complaints relating to exorbitant interest rates and harsh recovery measures, among others, against…
Read article RBI sensitises public for safe use of digital transactions
Reserve Bank in its press release today (June 22, 2020) said that the bank has set up many digital awareness campaigns for the users of digital transactions. The initiation in this regard has been continuously and actively undertaken in the print and Audio-Visual media, including through Central Bank’s flagship programme RBI Kehta Hai, it said.…
RBI proposes a few changes for regulatory framework applicable to HFCs
Reserve Bank of India today placed a draft of the changes proposed to be prescribed for HFCs. These are as follows: Classifying HFCs as systemically important (asset size of ₹500 crore & above) and non-systemically important (asset size less than ₹500 crore); Reserve Bank’s directions on Liquidity Risk framework &, LCR, securitisation, etc., for NBFCs,…
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