Meanwhile, on the digital currency CBDC, Roy said it already has 2.5 lakh users, and the target is to on board 10 lakh by the end of the current fiscal. Leading public sector lender Bank of Baroda is yet to complete the forensic audit into the recent graft allegations against some of its key employees … Read more
Is the RBI’s policy tightening guaranteed to reduce credit growth sufficiently so as to bring down inflation on a sustainable basis? The answer lies in what banks do in response. The Reserve Bank of India (RBI)’s monetary policy mandate is to manage the stock of money in the economy, so as to balance its control … Read more
“Unfortunately, it appears that the efforts of the banks to provide timely solutions to customer grievances have not kept pace with explosion in technology and products.” The RBI on Thursday said that the banks should focus on fortifying cyber security and prevention of cyber frauds to safeguard their customers from rising incidents of fraud and … Read more
After asking lenders to be cautious, the RBI increased risk weights on unsecured lending for banks as well as non-banks earlier this month. SBI Chairman Dinesh Kumar Khara on Wednesday said there will be “moderation” in the bank’s unsecured lending portfolio following the Reserve Bank of India’s tightening of norms. He said the impact of … Read more
RBI governor Shaktikanta Das Reserve Bank of India Governor Shaktikanta Das on Wednesday said the central bank’s tougher stance on unsecured loans earlier this month is a “preemptive” move in the interest of sustainability. Underlining that the banking system continues to be resilient and there is no immediate cause of worry for the system, Das … Read more
Walking down the ‘Digital India’ lane, the Union finance minister Nirmala Sitharaman, in one of the biggest ‘Big tech’ Budget 2022 announcements on Tuesday, embraced the ‘tech bylanes’ to focus on e-governance, digitisation while driving the economy on a growth trajectory. From launching digital currency to starting 75 new digital banks in 75 districts and … Read more