Over 98% of Rs 2,000 bank notes have been returned: RBI
A total of 98.12% of the Rs 2,000 bank notes in circulation as on May 19, 2023, have been returned at the close of business on December 31, 2024.
A total of 98.12% of the Rs 2,000 bank notes in circulation as on May 19, 2023, have been returned at the close of business on December 31, 2024.
The Reserve Bank of India (RBI) on Monday directed all banks to put in place a facility to enable a remitter to verify the beneficiary bank account name before initiating a transaction using the RTGS or NEFT system.
The Indian economy and the domestic financial system are underpinned by strong macroeconomic fundamentals, healthy balance sheets of banks and non-banks with returns on assets at decadal highs, according to the RBI financial stability report released on Monday.
Employee attrition in private sector banks has witnessed an increase to about 25 per cent, RBI said in a report. It highlighted that this high turnover rate poses significant operational risk.
The foreign exchange reserves fell for a third consecutive week as of December 20, data from the Reserve Bank of India said on Friday.
In the ever-evolving landscape of financial technology (fintech), India has taken a decisive step by urging fintech firms to create a self-regulatory organisation (SRO), as outlined in the recent draft framework by the Reserve Bank of India (RBI).
The RBI has asked internal ombudsmen of banks, NBFCs, and credit information companies (CICs) to provide inputs for enhancing internal systems and processes in order to ensure a more effective redress of customer grievances.
Comments on the draft circular are invited from NBFCs, HFCs and other stakeholders by February 29, 2024.
Reserve Bank of India Governor Shaktikanta Das on Thursday said that the central bank's position on crypto remains unchanged and pointed out that the emerging markets cannot take 'cryptomania'.
The Reserve Bank of India (RBI) has issued fresh instructions to banks to strengthen the ongoing efforts to reduce the quantum of unclaimed deposits in the banking system and return such deposits to their rightful owners or claimants.
