Indian banks are expected to emerge stronger under the Reserve Bank of India’s (RBI) upcoming regulatory reforms, which aim to bolster the financial system’s ability to absorb shocks and improve long-term stability, according to global rating agency Fitch Ratings. The report, released on Sunday, October 12, noted that the RBI’s 21 proposed measures mark a…
To simplify KYC access for non-resident Indians (NRIs), the Securities and Exchange Board of India (SEBI) is taking a significant step forward. SEBI is in advanced discussions with the Unique Identification Authority of India (UIDAI) and the Reserve Bank of India (RBI) to enable secure, remote Know Your Customer (KYC) verification for NRIs. The initiative…
Structural reforms, along with prudent macroeconomic and financial sector policies, have imparted resilience and vibrancy to the Indian economy, allowing it to withstand external shocks, said Shaktikanta Das, principal secretary-2 to the prime minister and former governor of the Reserve Bank of India. He pointed out that amid uncertainty in the global trade landscape, India…
Finance Minister Nirmala Sitharaman on Saturday, October 4, launched a three-month nationwide drive to help people recover their unclaimed financial assets, including dormant bank deposits, unpaid insurance claims, dividends, shares and mutual fund proceeds. The campaign, called ‘Aapki Poonji, Aapka Adhikar – Your Money, Your Right’, was inaugurated in Gandhinagar, Gujarat, and will run till…
Inflation is expected to be less of a concern this fiscal year, as GST rate cuts and lower crude oil prices are likely to help keep it under control. The US Federal Reserve’s move to begin cutting has created additional room for the RBI to ease its monetary policy, IANS cited Crisil report.  The US…
The Reserve Bank of India (RBI) on Wednesday announced more measures to facilitate wider use of the Indian Rupee and local currencies in international trade transactions. “For months now, the government has been taking steps to internationalise the rupee, which refers to the process of making the Indian currency widely accepted and used for global…