RBI Lifts Restrictions on Edelweiss Group’s ECL Finance and ARC Introduction: RBI’s Decision to Lift Restrictions In a significant development, the Reserve Bank of India (RBI) has decided to lift the restrictions on two prominent entities of the Edelweiss Group—ECL Finance Ltd and Edelweiss Asset Reconstruction Company (ARC). This decision follows a long period of…
RBI Unveils MuleHunter AI to Combat Financial Fraud The Reserve Bank of India (RBI) has introduced an advanced artificial intelligence (AI) tool named MuleHunter to strengthen the fight against financial fraud. The tool is designed to track and identify suspicious banking activities, particularly focusing on fraudulent transactions linked to mule accounts. Mule accounts are typically…
RBI Eases FCNR(B) Deposit Rates to Boost Foreign Inflows Amid Global Softening Overview of the RBI’s Decision On December 8, 2024, the Reserve Bank of India (RBI) announced its decision to ease the Foreign Currency Non-Resident (FCNR) Deposit rates in an attempt to enhance foreign inflows into the country. The move comes amid global economic…
RBI Introduces Secured Overnight Rupee Rate (SORR) The Reserve Bank of India (RBI) recently introduced the Secured Overnight Rupee Rate (SORR) as a new benchmark for the overnight money market in India. This move aims to enhance transparency and improve the functioning of the money market, making it more robust and resilient to financial shocks….
RBI Introduces Podcast Facility for Public Communication The Reserve Bank of India (RBI) has taken a significant step towards improving its communication with the public by launching a podcast facility. This initiative is aimed at making the central bank’s messages and updates more accessible and engaging to a broader audience. Podcasts have become an increasingly…
RBI Enables Small Finance Banks to Offer Pre-Sanctioned Credit via UPI The Reserve Bank of India (RBI) has recently allowed Small Finance Banks (SFBs) to offer pre-sanctioned credit facilities through the Unified Payments Interface (UPI). This move aims to enhance the accessibility of credit, especially for those who have a limited credit history or are…
RBI Increases UPI Lite Wallet and Transaction Limits: Key Update for Digital Payments The Reserve Bank of India (RBI) has recently announced significant changes to the limits for UPI Lite wallets and transactions, aimed at promoting digital payments and enhancing the ease of transactions for Indian users. These changes come as part of the government’s…
RBI Lifts Supervisory Restrictions on Navi Finserv The Reserve Bank of India (RBI) has recently removed the supervisory restrictions placed on Navi Finserv. These restrictions were imposed on the financial services company due to certain regulatory concerns. The lifting of these restrictions marks a significant step for Navi Finserv in its operations and governance, as…
UPI Breaks Record in October with 16.58 Billion Transactions Worth ₹23.5 Trillion Introduction: UPI Sets a New Milestone In October 2024, India’s digital payment system, Unified Payments Interface (UPI), reached an all-time high with 16.58 billion transactions worth ₹23.5 trillion. This achievement marks a major milestone in India’s digital transformation and highlights the growing trust…
RBI Maintains SBI, HDFC Bank, and ICICI Bank as D-SIBs (Domestic Systemically Important Banks) Introduction On November 13, 2024, the Reserve Bank of India (RBI) announced that it has maintained the status of State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs). These banks, being crucial to the…
