The Reserve Bank of India (RBI) on Wednesday said that while the microfinance sector has played an important role in financial inclusion, there are some issues which need urgent attention.
The global economy is in a state of flux, reeling from the twin shocks of trade policy uncertainties and a spike in geopolitical tensions, said an article in the RBI's June Bulletin.
In a customer-friendly shift, the RBI has also allowed the use of Video-based Customer Identification Process (V-CIP) for such updates.
The extension comes as the Mumbai-based bank has launched the search for a new CEO and is engaging with global recruitment firms.
They also emphasised the need for the central bank to strengthen its supervisory mechanisms to detect such frauds early and effectively.
India is leading the global digital revolution, emerging as a frontrunner on the back of its robust digital public infrastructure
In the context of peer-to-peer lending, regulations have positively impacted trust-building, thereby enabling financial innovation adoption, RBI report said.
The RBI-DPI comprises 5 broad parameters that enable the measurement of penetration of digital payments in the country over different time periods.
The Reserve Bank of India (RBI) on Thursday issued a draft circular on the Basel III framework on liquidity standards, which will require banks to set aside more funds to cover their risks.
Union Budget 2024-25 got a thumbs up from most brokerages. However, there remained some apprehensions on the sweeping changes in the capital gains tax regime.
