The Reserve Bank of India (RBI) has announced a significant measure to address the prevailing liquidity crunch in the banking sector by initiating a $10 billion foreign exchange (forex) swap. This three-year swap auction is scheduled for February 28, 2025, and aims to infuse approximately ₹870 billion into the banking system. This move underscores the…
RBI Penalizes Three Financial Institutions for Non-Compliance The Reserve Bank of India (RBI) has imposed monetary penalties on Citibank N.A., Asirvad Micro Finance Ltd., and JM Financial Products Ltd. for failing to comply with regulatory guidelines. The central bank took action after identifying lapses in their operations, violating specific provisions of the Banking Regulation Act,…
The RBI Ombudsman and Its Role in Customer Grievances Introduction to the RBI Ombudsman System The Reserve Bank of India (RBI) Ombudsman is a key component of the financial system designed to resolve customer grievances related to banking services. Established as part of the broader consumer protection initiative, the Ombudsman acts as an intermediary to…
RBI Clears Kotak Mahindra Bank’s Digital Onboarding Ban – A Game-Changer for Banking Sector Introduction to the News The Reserve Bank of India (RBI) has officially lifted the ban on Kotak Mahindra Bank’s digital onboarding process. The ban was imposed in 2022 due to concerns over certain regulatory issues with the bank’s procedures for onboarding…
RBI Clears Tata Communications’ Payment Arm Sale to Findi The Reserve Bank of India (RBI) has given its approval for Tata Communications to sell its payment arm to Findi, a fintech company. This significant move is poised to reshape the landscape of digital payments in India and contribute to the growth of the country’s fintech…
Ujjivan Small Finance Bank Seeks Universal Banking Licence Ujjivan Small Finance Bank has applied to the Reserve Bank of India (RBI) for a Universal Banking Licence, marking a significant step toward expanding its operations. With this transition, the bank aims to offer a wider range of banking services, such as insurance, mutual funds, and investment…
RBI’s Strategic Liquidity Infusion to Stabilize Money Markets Introduction: RBI’s Strategic Move to Stabilize Money Markets On January 2025, the Reserve Bank of India (RBI) announced a significant step in its monetary policy with a strategic liquidity infusion aimed at stabilizing the money markets. This move comes in response to the recent volatility observed in…
HSBC India Expands: RBI Approves 20 New Branches In a landmark decision, HSBC India has been granted approval by the Reserve Bank of India (RBI) to open 20 new branches across major cities. This expansion is the bank’s most significant physical growth in over a decade and marks a notable shift from HSBC’s previous consolidation…
RBI’s Record Forex Intervention in November 2024 Overview of RBI’s Record Forex Intervention in November 2024 In November 2024, the Reserve Bank of India (RBI) made headlines with its record-breaking foreign exchange (forex) intervention, marking a significant step in stabilizing India’s foreign exchange reserves. The central bank’s decision to intervene in the forex market became…
RBI Approves Merger of National and Cosmos Co-operative Banks Introduction: RBI’s Approval for Bank MergerThe Reserve Bank of India (RBI) has granted approval for the merger of the National Co-operative Bank and Cosmos Co-operative Bank. This approval marks a significant step in India’s banking sector, as it aims to create a stronger and more resilient…
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