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New Delhi: The Reserve Bank of India on Friday imposed monetary penalties on Godrej Housing Finance Ltd, Aadhar Housing Finance Ltd, and Housing and Urban Development Corporation Ltd over non-compliance. The central bank imposed a fine of Rs five lakh each on Godrej Housing Finance and Aadhar Housing Finance, and Rs 3.5 lakh on Housing…
New Delhi: Several bank branches will remain closed in various states owing celebration of Ganesh Chaturthi. Before visiting your bank branch in the month, you must note down the list of states where Ganesh Chaturthi will be celebrated and during which banks will remain closed. RBI has said that banks will be closed on September…
New Delhi: AU Small Finance Bank (AUSFB) on Tuesday submitted an application to the RBI seeking approval for a universal bank licence. The RBI in April invited applications from small finance banks meeting specified criteria, including a minimum net worth of Rs 1,000 crore, for becoming regular or universal banks. AUSFB submitted an application to…
Mumbai: The digital infrastructure has made the loan sanctioning system adopt an online mode but the loan recovery still requires a ‘feet on the street’, says Swaminathan J, Deputy Governor of Reserve Bank of India (RBI). Speaking at a media event in Mumbai, the deputy Governor of RBI noted that with the digital infrastructure at…
New Delhi: Banks across the country will be closed for a total of 15 days throughout September 2024 including weekends and local holidays. However, you can still carry out your banking activities via mobile and internet banking even though many bank branches will be shut due to these holidays. The Reserve Bank of India (RBI)…
Bhubaneswar: After the release of the first quarter GDP numbers, RBI Governor Shaktikanta Das on Saturday stated that India’s growth story is intact. The governor was speaking at the National CA Conference in Bhubaneswar, Odisha. He also highlighted that the fall in the GDP numbers is only because of a reduction in the government spending…
New Delhi: The retail inflation rate for farm and rural workers eased to 6.17 per cent and 6.20 per cent, respectively, in July, a government statement said on Thursday. The retail inflation rates for farm and rural workers were 7.02 per cent and 7.04 per cent, respectively, in June this year, according to the Labour…
New Delhi: The Reserve Bank has announced that it will launch Unified Lending Interface (ULI), a platform to ensure a smooth credit flow, particularly for smaller and rural borrowers. According to RBI Governor Shaktikanta Das, the ULI will revolutionize the financing landscape in India. The ULI is anticipated to be launched nationally in due course….
New Delhi: Segmental and geographical expansion, underpinned by a strong and increasing presence in semi-urban and rural markets with large unmet demand, will continue to drive growth for small finance banks (SFBs) in India this fiscal, a report showed on Monday. SFBs are expected to grow their advances by a robust 25-27 per cent this…
New Delhi9 minutes ago copy link On Thursday (22 August), the Reserve Bank of India has included Fastag and National Common Mobility Card (NCMC) in the e-mandate framework. Under this, as soon as the amount in these two payment instruments falls below the prescribed limit, money will be deducted from the customer’s account and added…