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The Reserve Bank of India (RBI) on Thursday issued draft directions to revise and consolidate guidelines on the Kisan Credit Card (KCC) scheme, aimed at expanding coverage, streamlining operational aspects and addressing emerging requirements in the agriculture sector.The central bank has invited comments and feedback on the draft guidelines from regulated entities, members of the…
MUMBAI: Reserve Bank of India (RBI) has sharply tightened the definition of mis-selling, removing one of the biggest defences used by banks and insurance companies that the customer had explicitly consented by signing documents. Under the new framework, regulated entities will also have to make full refunds in cases of proven mis-selling.In the Draft Reserve…
More than Rs 72,000 crore in unclaimed bank deposits, including amounts lying with foreign lenders, have been transferred to a fund maintained by the Reserve Bank of India (RBI), the government told Parliament on Tuesday. The money is held in the Depositor Education and Awareness (DEA) Fund and reflects balances that have remained untouched for…
The value of gold with Indian households has seen a big jump due to the rally in gold prices which has beaten all analyst expectations. (AI image) Did you know that the value of household gold with Indians is more than the size of India’s GDP? With gold prices skyrocketing in recent years, the value…
Bond funds slide (AI image) The RBI’s latest policy decision to keep the repo rate unchanged has delivered an unpleasant surprise to the bond market. Traders and investors were positioned for an easing signal, but the central bank chose to stay put. Government bond yields shot up after the RBI decision was announced, with the…
MUMBAI: The RBI is proposing to compensate customers for losses arising from small-value digital frauds, with payouts of up to Rs 25,000, as part of a broader overhaul of consumer protection rules amid rising risks from mis-selling, cyber fraud and aggressive loan recovery practices. The e-fraud compensation will be for 85% of the loss amount…
MUMBAI: Banks will soon price deposit insurance by risk, while depositor protection stays unchanged. From April 1, 2026, RBI will adopt risk-based pricing for deposit insurance, a global norm, without altering coverage or payouts. Until now, all banks paid a flat premium of 12 paise per Rs 100 of deposits, regardless of financial strength. The…
The Reserve Bank of India (RBI)-led Monetary Policy Committee (MPC) on Friday kept the repo rate unchanged at 5.25% in line with expectations from market analysts and economists. The decision to hold the repo rate was driven by resilient GDP growth and benign inflation, amid global headwinds.“After a detailed assessment of the evolving macroeconomic conditions…
MUMBAI: The Reserve Bank of India on Thursday kept the policy repo rate unchanged at 5.25%, with the Monetary Policy Committee (MPC) voting unanimously to maintain status quo while modestly revising up its near-term growth and inflation forecasts.Following the decision, the standing deposit facility rate remains at 5%, while the marginal standing facility rate and…
Stock market today (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red ahead of the RBI monetary policy. While Nifty50 opened below 25,600, BSE Sensex was down over 100 points. At 9:17 AM, Nifty50 was trading at 25,594.35, down 48 points or 0.19%. BSE Sensex was at…
