RBI Archives - Page 2 of 5

January 11, 2020

RBI approves DigiLocker; now open bank, loan accounts by showing digital documents

The issued e-documents in DigiLocker system are deemed to be at par with original physical documents and are accepted in KYC process after RBI’s recognition

January 10, 2020

Video-based KYC allowed for banks and fintechs to onboard customers remotely

Regulated entities shall undertake live video-based verification for the establishment of an account-based relationship with an individual customer, after obtaining her/his informed consent

September 25, 2019

4 steps to avoid PMC Bank type fiasco and to keep your savings and investments relatively safe

The situation befalling PMC Bank depositors could be faced by any bank, big or small. Thankfully, everyone can minimise such a mishap with four simple steps

September 5, 2019

Will linking floating rate loans to external benchmark really cut interest rates for your home loan, car loan?

RBI makes it mandatory for banks to link all their fresh retail loans to an external benchmark, effective October 1

September 1, 2019

RBI directs banks to enable cash withdrawals by cardholders at Points of Sale

India has only 18 ATMs per 100,000 people, which is way lower than China, which is at 63 ATMs per 100,000 people, as per FIS data.

August 27, 2019

RBI’s cash transfer to government: The good and the bad

The net liquidity injection from the RBI as a result of this exercise will amount to Rs 1,48,051 crore

August 26, 2019

Now you get an extra hour to transfer funds via RTGS starting as early as 7 am

The new timing starts from 7 am to 6 pm. The minimum amount one can transfer via RTGS is Rs 2 lakh

August 19, 2019

‘As a bank, we have to strike a balance between what we pay to our depositors and what we charge on loans’, SBI chairman Rajnish Kumar

Bank says it has cut repo rate linked lending rate by 85 bps; MCLR has been reduced by 30 bps but more MCLR lowering will mean an impact on depositors

August 17, 2019

Banks can’t charge customers for failed ATM transactions; non-cash withdrawal transactions also not to be counted

Failed and non-cash withdrawal transactions cannot be counted as valid ATM transactions for the customer. No charges, therefore, shall be levied by a bank, says RBI

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