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RBI action on Kotak Mahindra Bank may restrain credit growth, profitability: S&P

The RBI on Wednesday barred Kotak Mahindra Bank from issuing fresh credit cards and onboarding new customers online.

India , Singapore , Kotak-mahindra-bank , Monetary-authority-of-singapore , Kotak-mahindra-bank-bbb-stable , Bank-ltd , Kotak-mahindra , Reserve-bank , Monetary-authority , Economy , Rbi

RBI issues FAQs on guidelines for default loss guarantee in digital lending

While the guidelines mandate the banks accepting DLG cover to have a Board approved policy in place, the banks acting as DLG providers shall also put in place Board approved policy as a prudent measure, the RBI said.

India , Reserve-bank , Rbi , Efault-loss-guarantee ,

RBI directs banks for greater vigilance on Forex trading and report unauthorised trading to ED

The Reserve Bank of India (RBI) has issued a directive to banks regarding instances of unauthorized forex trading activities by certain entities.

Mumbai , Maharashtra , India , Reserve-bank , Authorised-person- , Electronic-trading-platform , Rbi , Forex-trading- , Directorate-of-enforcement- ,

forex reserves: India's forex reserves down by $2.8 bn to $640.33 bn as of April 19

India's forex reserves dropped by $2.83 billion to $640.33 billion as of April 19, as per the latest Reserve Bank of India data. This decline follows a previous decrease of $5.4 billion to $643.16 billion reported for the week ended April 12, 2024. Foreign currency assets (FCAs) shrank by $3.79 billion to $560.86 billion, while gold reserves increased by $1.01 billion to $56.81 billion.

India , Reserve-bank , Weekly-statistical-supplement , Forex-reserves , Foreign-exchange-reserves , Rbi , Reserve-bank-of-india , Gold-reserves , Forex-data ,

loan offers: RBI proposes new norms for LSPs to promote transparency

LSP is an agent of a regulated entity (RE) who carries out one or more of lender's functions or part thereof in customer acquisition, underwriting support, pricing support, servicing, monitoring, recovery of specific loan or loan portfolio on behalf of REs in conformity with extant outsourcing guidelines.

India , Reserve-bank , Loan-products , Loan-offers , Rbi , Transparency , Lsps , Borrowers , Digital-lending , Aggregation-services , Framework

India's foreign exchange reserves drop to six-week low - Business & Finance

MUMBAI: India’s foreign exchange reserves fell for a second consecutive week and stood at a six-week low of $640.33...

Iran , Israel , India , Mumbai , Maharashtra , International-monetary-fund , Reuters , Reserve-bank , International-monetary , Tranche-position , India-rsquos-foreign-exchange-reserves

Small finance banks seeking universal banking license need at least Rs 1,000-crore net worth: RBI

RBI said that listed and profitable small finance banks with gross non-performing assets ratio less than 3% for last two fiscals can apply for universal banking license. Additionally, they need to have a net non-performing assets ratio less than 1% for the last two financial years. They also need to be profitable for the last two fiscals.

Kolkata , West-bengal , India , Reserve-bank , Universal-banks , Small-finance-bank , Rbi , Universal-banking-license , Bank-license , Banking ,

RBI Issues Draft Rules On Digital Lending To Give Borrowers A Better Deal

RBI on Friday released draft guidelines on digital lending to ensure transparency in aggregation of loan products from multiple lenders by lending service providers so that borrowers get prior knowledge about all credit offers that are available.

Better-deal , Digital-lending-app , Rbi , Lending-service-providers-lsp- , Nbfc ,

RBI Lays Out Roadmap For Small Lenders To Achieve Universal Bank Status

India's central bank on Friday released a set of criteria that small lenders need to achieve, including performance metrics and market listing, to become a universal bank and provide comprehensive services to both retail and corporate clients.

India , Reserve-bank , Reserve-bank-of-india , Rbi ,

digital lending: Lending service providers may have to provide digital view of all offers: RBI

The Reserve Bank of India (RBI) is considering new rules for digital lending, aiming to enhance transparency. The proposed guidelines would require lending service providers (LSPs) to digitally share all available loan offers from willing lenders with borrowers. This move aims to empower borrowers by providing a clear view of their loan options, including details like lender names, loan amounts, interest rates, and key terms. The RBI also emphasizes the need for unbiased content, prohibiting LSPs from favoring any particular lender.

India , Reserve-bank , Regulated-entity , Digital-lending , Loan-offers , Lending-service-providers , Rbi , Apr , Key-facts-statement , Reserve-bank-of-india-rbi- , Transparency