RBI restricts Kotak Mahindra Bank from online customer onboarding

The RBI's directive, issued under Section 35A of the Banking Regulation Act, 1949, underscores the central bank's concerns about deficiencies observed during its IT examinations of KMB for the years 2022 and 2023. Despite receiving corrective action plans from the RBI in both years, subsequent assessments revealed ongoing non-compliance by the bank.

RBI holds repo rate unchanged in first monetary policy of FY25

The RBI’s Monetary Policy Committee kept the repo rate unchanged at 6.5%, signaling stability amid a complex economic landscape.

RBI holds repo rate steady at 6.5% amidst optimistic economic projections

This decision marks the sixth consecutive time that the RBI has refrained from altering the rate for the financial year 2023–24, underscoring stability in monetary policy.

Caught on cam: Paytm CEO’s bizarre reaction when asked about RBI ban

NEW DELHI: Paytm CEO Vijay Shekhar Sharma came under limelight after the Reserve Bank of India (RBI) imposed restrictions on the Paytm Payments Bank, prohibiting the entity from providing additional banking services starting March 2024. Despite this grim situation of his company, Sharma still looked very flamboyant when spotted by The New Indian’s Executive Editor […]

RBI restricts Paytm Payments Bank services starting March 2024; here’s why

NEW DELHI: The Reserve Bank of India (RBI) has implemented restrictions on Paytm Payments Bank, prohibiting the entity from providing additional banking services starting March 2024. This action stems from concerns related to the breach of regulatory norms and compliance issues. “The Comprehensive System Audit report and subsequent compliance validation report of the external auditors […]

RBI confirms 97.26% of Rs 2,000 notes returned since May 19 withdrawal

The central bank had declared the withdrawal of Rs 2,000 notes on May 19, 2023.

Meet Kerala notaphilist preserving legacy of Re 1 notes

Arvind believes Re 1 notes hold historical and intrinsic value

How can you still deposit ₹2000 notes in bank? RBI explains

NEW DELHI: In another evening surprise, the Reserve Bank of India (RBI) has withdrawn ₹2000 banknotes from circulation. But one need not to panic. The decision has no similarity to the 2016 demonetisation as the ₹2000 notes will continue to be legal tender. However, the general public is asked to deposit and/or exchange these banknotes […]

RBI withdraws ₹2000 notes from circulation

But public need not panic as it will continue as legal tender. All ₹2000 notes can be exchanged before September 23, 2023

RBI to launch digital currency today; to be denoted with sign e₹-W

CBDCs are essentially central bank approved variant of digital money, a safer option than cryptocurrency which is difficult to regulate by government agencies and can be used for various illegal activities.