RBI digital payment mission : RBI Launches Mission to Make Every Citizen a User of Digital Payment The Reserve Bank of India (RBI) has launched a mission to make every citizen a user of digital payment. The mission aims to achieve the goal of a less-cash society and promote digital payments as the preferred mode…
RBI cancels license of Garha Co-operative Bank : RBI scraps license of MP-based Garha Co-operative Bank The Reserve Bank of India (RBI) has cancelled the license of Garha Co-operative Bank, which was located in Jabalpur, Madhya Pradesh. The move was made due to the bank’s weak financial position and unsatisfactory performance. This decision was taken…
RBI’s Digital Payments Index Jumps to 377.46 in Sept from 349.30 in March The Reserve Bank of India (RBI) has released its latest data on digital payments in the country, revealing a significant increase in digital payments. According to the RBI’s Digital Payments Index (DPI), the index has increased from 349.30 in March 2021 to…
RBI New Rules for ‘Loan Loss Provision’ by Banks The Reserve Bank of India (RBI) has issued new rules for banks’ loan loss provisioning, aimed at aligning them with the expected credit loss (ECL) approach. The new norms will be applicable to all banks, including small finance banks and foreign banks operating in India. The…
