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The Reserve Bank of India said it has imposed penalties on Standard Chartered Bank-India, TransUnion CIBIL, Equifax Credit Information Services, and other entities for contravention of various norms

Economists expect 40-50 bps hike in repo rate by MPC next month

The firms have been accused of charging excessive interest rates and harassing customers for loan recovery, among other things

Auction for Govt of India T-bills, earlier set for June 29, will now be held on June 28, with settlement taking place on June 30

Share of unsecured retail loans increased from 22.9% to 25.2%, shows data

Last year, the RBI directed merchants not to store customer card details on their servers. And the revised implementation date is drawing close now. Is India ready for this big payment system reform?

Banks have been asked to carry out all the due diligence and ensure remittances sent are only for the bona fide import transactions through exchange/s authorised by IFSCA

The bank is working with the RBI to complete the IT audit and address the regulator's concerns, says Madhur Deora.

The firms have been accused of charging excessive interest rates and harassing customers for loan recovery, among other things

Soaring inflation, global central bank policies and the Ukraine war have dampened sentiment across global financial markets. What does S Naren, of ICICI Prudential AMC think of the developments?

In terms of the number of transactions, credit card transactions were marginally lower online at 11 crore as against 11.1 crore offline or at PoS machines

Says have entered another phase of 'coordinated action' between fiscal and monetary authorities

At the interbank forex market, the domestic unit opened at 77.69 against the US dollar. It moved in a range of 77.51 to 77.69 during the session

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Govt's free food package, brought into effect since Covid outbreak in 2020, and RBI's lesser-than-expected dividend for FY22 might make the govt push the taxman to further augment revenues

Shaktikanta Das further said in a TV interview that the RBI and govt have entered into another phase of coordinated action to cool down inflation

Shaktikanta Das says RBI wants to raise rates in the next few MPC meetings, at least at the next one in June

Non-banking financial companies may have entered a comfort zone years after having been put through the wringer