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The RBI today issued a draft framework seeking to harmonise regulations of HFCs with those of NBFCs in several areas including deposit directions. The banking regulator has invited comments from NBFCs (including HFCs) and other stakeholders by February 29, 2024
2024 is expected to bring about significant changes in the technology and business landscape, providing organisations with new opportunities as well as challenges. As businesses...
A savings/ current account will be treated as inoperative if there are no customer induced transactions in the account for a period of over two years, reads the RBI notification.
The Reserve Bank of India (RBI) has issued comprehensive guidelines on the measures to be implemented by the banks covering various aspects. The revised instructions shall come into effect from April 1, 2024, stated RBI.
The Reserve Bank of India (RBI) has issued fresh instructions to banks to strengthen the ongoing efforts to reduce the quantum of unclaimed deposits in the banking system and return such deposits to their rightful owners or claimants.