Page 13 - Rbi
RBI cancels PC Financial Service's certificate of registration
The company violated the central bank's directions on outsourcing and KYC norms and was also found to be charging very high interest rates and other charges from its borrowers
 "RBI cancels PC Financial Service's certificate of registration")
On cryptocurrencies India is choosing to incrementally confuse
If the government decides to ban cryptocurrencies, it is going to have to fight an uphill battle as banning them will lead to a profusion of illegal ways in which people access them.
RBI asks NBFCs to enable Core Fin Services Solution akin to that in banks
Upper & Middle layer NBFCs with 10 or more fixed point services delivery units should implement it by Sept 2025
RBI's views might have delayed crypto bill: Deputy Governor Michael Patra
The government had plans to introduce a bill on cryptocurrencies like Bitcoin during the Winter Session of Parliament in November-December 2021 but did not introduce it
 "RBI's views might have delayed crypto bill: Deputy Governor Michael Patra")
PSB recap bonds fair valuing to dent Tier-1 capital up to 1.75%: Ind-Ra
The rating agency said it understands that the five recipient PSBs may need to value zero-interest bonds at fair value instead of par value
 "PSB recap bonds fair valuing to dent Tier-1 capital up to 1.75%: Ind-Ra")
RBI to focus efforts on reviving growth: Deputy governor Michael Patra
India's central bank wants to focus all its energies on reviving the country's economic growth given that inflation's momentum is declining, Patra said
 "RBI to focus efforts on reviving growth: Deputy governor Michael Patra")
RBI alerts public about Gurugram-based unauthorised wallet operator sRide
sRide is a carpooling mobile app that connects people within the community to share rides. It is present across four Indian cities with over one million rides offered and 8 cities in the US
RBI imposes penalty on 3 co-operative banks for deficiencies in compliance
The Reserve Bank of India (RBI) on Monday said it has imposed penalties on three co-operative banks totalling Rs 5 lakh for deficiencies in regulatory compliance.
 "RBI imposes penalty on 3 co-operative banks for deficiencies in compliance")
Regulators should be accountable for delay/laxity in indicting wrongdoers
The scandal at the very top of the National Stock Exchange shows it's a systemic failure which must be rectified quickly
RBI-appointed administrator invites bids for resolution of Reliance Capital
As part of the resolution process, the RBI-appointed administrator on Friday invited expressions of interest (EoIs) for sale of debt-ridden Reliance Capital promoted by Anil Ambani Group
 "RBI-appointed administrator invites bids for resolution of Reliance Capital")
RBI regulatory review body wants 100 circulars withdrawn to ease compliance
Advises separate web page for regulatory reporting
You don't know it but we're involved in each of your card swipes: Fiserv GM
In a Q&A, Rishi Chhabra, who also heads the firm's India and Sri Lanka operations, dwells on his company's swift response to RBI's six-month moratorium and data localisation rules
 "You don't know it but we're involved in each of your card swipes: Fiserv GM")
CSB Bank gets RBI nod to appoint Pralay Mondal as Deputy Managing Director
His prior appointment in the bank since September 23, 2020 was as President
 "CSB Bank gets RBI nod to appoint Pralay Mondal as Deputy Managing Director")
Top headlines: Big tech in data localisation row, banks told to up UPI cap
States start easing Covid-19 curbs as cases decline. More on that in our top headlines.
 "Top headlines: Big tech in data localisation row, banks told to up UPI cap")
RBI move to defer revised NPA norms eases provision burden in Q4
RBI's decision to defer the implementation of revised NPA norms by six months for finance companies will save them from the burden of making additional provisions
 "RBI move to defer revised NPA norms eases provision burden in Q4")
Juspay Technologies launches solution for interoperablility of PPIs
The launch of 'Openppi' follows the May 2021 regulation from RBI mandating prepaid cards and wallets that are full-KYC-compliant to be fully interoperable by March 2022
HFCs' bad loans jump by 70 bps following new asset quality norms: Report
RBI had on November 12, 2021, introduced tighter asset quality reporting norms for all lenders, which brought in housing financiers and NBFCs on par with commercial banks
 "HFCs' bad loans jump by 70 bps following new asset quality norms: Report")
NARCL to help reduce banking stress, kick-start credit cycle: RBI article
The cross-country evidence suggests that if the logistical and financial challenges are carefully navigated, experiments of centralised bad bank can have more hits than misses: RBI article
 "NARCL to help reduce banking stress, kick-start credit cycle: RBI article")
NBFC shares rise as RBI extends NPA norms compliance date
Shares in the NBFC space have shown a healthy gains on Wednesday as the RBI provided an extension for the implementation of the new NPA rules.
 "NBFC shares rise as RBI extends NPA norms compliance date")
NBFCs get extra 6-months to keep system ready to implement NPA norms
In November 2021, RBI had given time till March 31, 2022 to implement the rule
 "NBFCs get extra 6-months to keep system ready to implement NPA norms")
