Restrictions have been implemented by the Reserve Bank of India (RBI) to protect consumers from unsolicited credit cards. This law was put into effect by the RBI to safeguard you against unsolicited credit cards and the risks associated with them, such as Unwanted debt: Since you did not budget for the credit line, unanticipated debt may … Read more
The Indian economy has been doing well, with three consecutive quarters of 8%-plus growth so far in FY24. During this period, the banking sector’s credit growth has increased nearly 17% to ₹160 trillion, according to data from the Reserve Bank of India (RBI). Credit card debt has risen by 23% to ₹2.5 trillion, which is … Read more
This is believed to be either the last or perhaps second last meeting before the interest rates are eventually slashed after a long hiatus. A Reuters poll predicted that the RBI is expected to cut rates in the Sept quarter. Notably, the banking regulator had raised the repo rates by a cumulative of 250 basis points … Read more
The Reserve Bank of India (RBI) is expected to cut the interest rates later this year, thus kicking off the rate cut cycle in the market. However, RBI in its Feb 2024 monetary policy meeting (MPC) kept the interest rates unchanged for the sixth time in a row. But this is expected to change as the banking … Read more
Digital banking has brought a paradigm shift to the way we carry out financial transactions. The collateral damage, however, is the spate of frauds that accompany it. To minimise these frauds, the banking regulator has taken a number of steps so that banking remains safe and secure. Deputy governor of Reserve Bank of India (RBI) Swaminathan … Read more
Mumbai: IIFL Finance has taken several corrective measures to set its house in order after Reserve Bank of India’s diktat to stop disbursing gold loans. The non-bank lender has announced a capital raising plan to boost its capital adequacy and also changed its board and management to improve governance and compliance. In an exchange filing … Read more
NEFT system has achieved a milestone on leap day i.e., on February 29, 2024, by processing 4.10 crore transactions, the highest ever in a day so far. The precise number was 4 crore 10 lakh sixty-one thousand three hundred and thirty-seven, announced Reserve Bank of India (RBI) on Friday. In the past ten years (i.e., … Read more
In its latest budget presentation, the Narendra Modi-led government reaffirmed its commitment to bolstering capital expenditure (capex) and maintaining fiscal discipline, a strategic stance that has characterized its financial governance in recent years. The budget showcases a significant escalation in capex, which has almost tripled in the past four years, thereby becoming a cornerstone for … Read more