RBI Governor Sanjay Malhotra Amid the ongoing tariff war, RBI Governor Sanjay Malhotra has said that the central bank will continuously monitor the rapidly evolving global situation and remain ‘agile and proactive’ in its policy actions. Observing that the Indian economy and the financial markets have demonstrated remarkable resilience, Malhotra cautioned that “they are not […]
Bhuvnesh Kumar, CEO of UIDAI Not long ago, opening a bank account in India meant standing in queues, filling out repetitive forms, and waiting days—if not weeks—for verification. Today, all it takes is a phone, a face, and twelve digits. In this silent but sweeping transformation of everyday banking models, Aadhaar has become more than […]
India’s forex reserves rise to USD 658.8 billion, extending gains for the third week India’s foreign exchange reserves rose USD 10.872 billion to USD 676.26 billion in the week that ended on April 4, extending gains for the fifth straight week, official data released by RBI showed. Barring the latest jump, forex reserves had slumped […]
Reserve Bank of India (RBI) Governor Sanjay Malhotra addresses a press conference after a monetary policy review in Mumbai, on Wednesday. REUTERS/Francis Mascarenhas MUMBAI: In a move to strengthen India’s financial ecosystem, Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday announced six additional measures focused on banking regulation, fintech, and payment systems.These initiatives […]
NCAER DG Poonam Gupta appointed as RBI Deputy Governor NEW DELHI: The government has approved the appointment of NCAER Director General Poonam Gupta as Deputy Governor of the Reserve Bank of India for a period of three years, according to sources. The post of the Deputy Governor of RBI fell vacant after MD Patra demitted […]
In a normal course, a bank’s board must submit potential CEO names to the regulator at least six months before the incumbent’s tenure ends. IndusInd Bank may see a new CEO, replacing Sumant Kathpalia, in six months and once the potential names are submitted with the Reserve Bank of India (RBI), the Central Bank will […]
The IMF’s recent Financial Sector Assessment Programme (FSAP) for India has brought to light several key concerns regarding the nation’s NBFC sector, painting a picture of vulnerabilities that demand immediate attention. The International Monetary Fund‘s (IMF) recent Financial Sector Assessment Programme (FSAP) for India has delivered a stark message regarding the nation’s Non-Banking Financial Companies […]
The central bank’s recent risk weight reduction on bank lending to NBFCs signals a constructive approach, which should enhance funding access, particularly for smaller entities. NEW DELHI: The fundamentals of non-banking financial companies (NBFCs) are showing signs of improvement as macroeconomic challenges ease and the Reserve Bank of India (RBI) adopts a more supportive stance, […]
Dr. Devesh Tyagi, CEO of the National Internet Exchange of India (NIXI) In a bold move to strengthen cybersecurity in the financial sector, the Indian government has launched the “.bank.in” and “.fin.in” zones. This initiative aims to combat online fraud, a growing threat where 60-65% of financial scams stem from deceptive bank-related links. Fraudsters often […]
“The surge in digital fraud is a matter of concern. It warrants action from all stakeholders. The Reserve Bank has been taking various measures to enhance digital security in the banking and payment systems,” RBI Governor Sanjay Malhotra. To enhance trust in digital banking and curb online fraud, the Reserve Bank of India (RBI) has […]