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Latest Articles in Reserve Bank of India RBI

PNB Cuts Rate On Home Loan Above Rs 50 Lakh By 0.5%; RLLR By 0.25%

"PNB has announced that now home loans are offered at 6.60 percent irrespective of any upper ceiling limit," it said in a statement. The state-owned lender said the rate will be linked with the applicant's credit score.

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RBI Remains Net Purchaser Of US Dollar In July; Buys $ 7.205 Billion

The RBI net purchased $ 18.633 billion. It had bought $ 21.923 billion and sold $ 3.29 billion during the month. In July last year, the central bank had net bought $ 15.973 billion.

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Inflation In India Likely To Ease Only Gradually: RBI Deputy Governor

The Indian economy is emerging from the second wave in a more resilient manner as compared with the first, Patra said, adding that recovery was more broad-based around manufacturing as a pivot, though output is still below pre-pandemic levels.

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KYC Frauds: RBI Cautions Public Not To Share Account Details, Passwords With Unidentified Agencies

The RBI said it has been receiving complaints/reports about customers falling prey to frauds being perpetrated in the name of KYC updation.

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RBI Optimistic About 9.5% Growth In FY22; Will Gradually Move To Soften Inflation To 4%: Governor Das

As a result of high inflation, which also breached the 6 per cent band in between, the RBI has been maintaining a status quo on rates for over a year now and calls for higher attention to its core mandate of price rise are growing.

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UCO Bank Removed From RBI's Prompt Corrective Action

On a review of the performance of the UCO Bank, the Board for Financial Supervision on the basis of the published financial results for 2020-21 found that the bank was not in breach of the PCA parameter

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RBI Enhances Scope Of Tokenisation To Ensure Security Of Card Data

The RBI on Tuesday extended the device-based tokenisation to card-on-file tokenisation (CoFT) services, a move that will bar the merchants from storing actual card data.

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RBI Nod To Jammu & Kashmir Govt To Acquire Over 16.76 Crore Shares In J&K Bank

The lender had said that Sebi had exempted the Jammu & Kashmir government from complying with its norms on substantial acquisition of shares and takeovers in the proposed acquisition of 16,76,72,702 equity shares (6.06 percent) of the bank during 2021-22.

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India's Economic Activity Picking Pace, Further Upside To Growth Likely: Moody's

The rating agency said it expects the Reserve Bank to maintain an accommodative policy stance until economic growth prospects "durably improve".

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RBI Imposes Penalty On 2 Co-Operative Banks, 1 NBFC

A penalty of Rs 3 lakh has been imposed on Jijamata Mahila Sahakari Bank, Pune, Maharashtra for non-compliance with the directions on exposure norms and statutory/ other restrictions-urban co-operative banks (UCBs)

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RBI Extends Scope Of Tokenisation To Laptops, Wearable Devices

The RBI had earlier permitted 'tokenisation' services, under which a unique alternate code is generated for transaction purposes, on mobile phones and tablets of cardholders.

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HDFC Bank Outlines Aggressive Play In Credit Cards To Regain Lost Mkt Share In A Year

HDFC Bank has set specific milestones for itself, which will include ramping up monthly card issuances to the November 2020 level of 3 lakh in up to three months, and going up further two 5 lakh a month in another two quarters

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RBI Appointed Panel Suggests 4-Tier Structure For UCBs

The RBI panel has also prescribed separate ceilings for home loans, loan against gold ornaments and unsecured loans for different categories of UCBs.

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RBI Imposes Rs 27.5 Lakh Penalty On Dhanlaxmi Bank, Rs 20 Lakh On A Co-Op Bank

The RBI said the Statutory Inspection for Supervisory Evaluation (ISE) of the bank was conducted with reference to its financial position as on March 31, 2020, and the examination of the Risk Assessment Report and Inspection Report pertaining to the same, revealed, inter-alia, contravention of the provisions of the Act read with the scheme.

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HDFC Bank Aims To Regain Lost Market Share In 1 Yr After RBI Lifts Credit Card Ban

The bank will depend on its internal set of customers to grow the number of cards and is also looking at partnering with key players like Paytm announced earlier in the day, to increase its sourcing.

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