BUSINESS
Banking Central | After HDFC Bank, Paytm Payments Bank runs foul of RBI
Paytm Payments Bank ban once again shines the spotlight on how lenders need to get a fix on their digital banking channels
BUSINESS
RBI directs Paytm Payments Bank to stop onboarding new customers, orders IT audit
The bank has also been directed to appoint an IT audit firm to conduct a comprehensive System Audit of its IT system, the RBI said in a release.
BUSINESS
RBI governor Shaktikanta Das launches UPI for feature phones, says move will bump up digital adoption
This comes after the central bank in December announced a plan to introduce UPI in feature phones, which has remained confined to smartphones as a payment platform ever since rolling out in 2016, limiting its use among people in rural areas having feature phones
BUSINESS
Banking Central| Don't ignore cooperative bank depositors
There is a strong case to up the DICGC insurance cover from the present Rs5 lakhs.
BUSINESS
Extended accommodative stance weakens the credibility of MPC’s inflation-fighting credentials: Jayanth Varma
"If MPC’s credibility is diminished, then the MPC might have to take more drastic and painful measures to have the desired impact on inflation," says the MPC member.
BUSINESS
Central bank's communications need to be backed by actions to build credibility, instil confidence: RBI's Das
With the declaration of COVID-19 as a pandemic in March 2020, communication became more challenging as the RBI had only digital interface with media and market participants while at the same time the central bank had to undertake several emergency conventional and unconventional measures as the crisis unfolded, Das said.
BUSINESS
NSE Scam | My letter identifying yogi based on EY audit, not been called by agencies so far: Ex-bourse chairman Ashok Chawla
Chawla served as NSE chairman between March 2016 and January 2019 and shot a letter to Sebi in 2018 saying Anand Subramanian is the ‘mysterious yogi’ in NSE scam case.
BUSINESS
Rajnish Kumar’s ESOPs were approved by BharatPe Board, part of the contract, says board source
In an interview with Moneycontrol, co-founder Ashneer Grover highlighted that Kumar has ESOPs in the company
BUSINESS
Banking Central | BharatPe must put its house in order
Alleged corporate governance issues, infighting and mud-slinging in public do not augur well for BharatPe which is a part of the PMC Bank rescue mission.
BUSINESS
Deep rot: Why the RBI finally pulled the plug on Cashbean
The outfit operated in violation of various RBI norms. There was also a Chinese ownership angle, which triggered ED action. But Cashbean’s case isn’t an isolated incident.
BUSINESS
RBI cancels Certificate of Registration of Delhi-based app-based lender PC Financial Services
The CoR of the company has been cancelled on account of supervisory concerns such as gross violations of RBI directions on outsourcing and Know Your Customer norms, the central bank said.
BUSINESS
Analysis | RBI’s concerns reflect in latest ASCI curbs on crypto advertisements
The banking regulator has been cautioning investors about the unregulated cryptomarket. The ASCI curbs follows a recent call from a top central bank official to ban cryptocurrencies in India.
BUSINESS
BharatPe Row: Chairman Rajnish Kumar says Ashneer Grover trying to prove governance review is biased, should have shown maturity
Rajnish Kumar, former head of SBI, said Ashneer Grover letter won't have any impact on company and board is aligned to action
BUSINESS
Banking Central | Digital frauds — where does the buck stop?
While there is an aggressive push towards digital transactions, the rising number of frauds such as the Dhani episode last week raises critical questions about the safety of these channels.
BUSINESS
Explainer| How Dhani fake loan episode exposes big holes in digital lending
Digital lending platforms or Fintech platforms have always faced the challenge arising from frauds. Dhani Episode is another strong reminder.
BUSINESS
RBI cancels licence of Mantha Urban Cooperative Bank
The bank with its present financial position would be unable to pay its present depositors in full and public interest would be adversely affected if the bank is allowed to carry on its banking business any further, the RBI said.
BUSINESS
Zombie firms absorbed 10% of total bank credit extended to all companies: RBI Bulletin
The RBI publishes bulletin every month capturing the trends in the economy and the financial sector.
BUSINESS
Criminal conspiracy, cheating, breach of trust and all that went wrong with ABG Shipyard
Once a famed private shipbuilder in the country, ABG Shipyard fell from grace due to bad market and financial irregularities.
BUSINESS
Banning cryptocurrency the most advisable choice open to India, says RBI Deputy Governor
The comments are significant in the context of an ongoing debate whether to ban crypto currencies or not.
BUSINESS
Banking Central | Tulips or crypto—who wants to make a quick buck?
The RBI Governor has repeated his warning on cryptocurrencies last week and investors will ignore the message at their own peril
BUSINESS
RBI Monetary Policy Committee continues to be a divided house on rate stance
Jayanth Varma continues to be the lone dissenter in MPC. This isn’t the first time Varma has dissented on the rate stance
BUSINESS
RBI Monetary Policy | Governor Das’ tulip warning on crypto has a message for government
“They (investors) should keep in mind that these cryptocurrencies have no underlying (asset). Not even a tulip,” Das has said
BUSINESS
Explained | Shaktikanta Das presents a non-event policy for markets, plays waiting game
By opting for the status quo, the MPC has chosen the waiting game for more cues to go aggressive on the policy normalisation process. For now, growth remains the focus.
BUSINESS
RBI Policy: MPC retains key rates unchanged, no change in policy stance
The MPC indicated that it will wait for more macroeconomic signals before tinkering with key rates or rate stance.
