"reserve-bank-of-india"

Says bank failed to preserve records pertaining to identification of customers and their addresses obtained during course of business relationships in certain accounts

Nexus, conceptualised by the Innovation Hub of the Bank for International Settlements (BIS), aims to connect India’s UPI (Unified Payments Interface), with the fast payment systems of ASEAN members -- Malaysia, Philippines, Singapore, and Thailand.

RBI Governor Shaktikanta Das said on Friday that this will enable customers to automatically replenish the balances in Fastag, NCMC, etc. if the balance goes below the threshold limit set by them. This will enhance convenience in making travel-related payments.

On one hand, there are optimistic projections of economic growth while on the other, there is an undeniable fact of shrinking job opportunities

This is the first time since 1991 that India has undertaken such a large-scale overseas transfer of gold reserves.

The decision was taken at Apex Bank's 608th meeting of the Central Board of Directors. Presided over by RBI Governor Shaktikanta Das, the board reviewed the global and domestic economic scenario, including risks to the outlook.

The police across the country, including Telangana, has been receiving complaints from victims of such frauds.

Food inflation could ease if the monsoon turns favourable this year, as IMD weather forecasts suggests. Weather risks and the uptick in crude oil prices will be key to growth.

Accordingly, agency banks are advised to keep all their branches dealing with government business open on March 31, 2024 (Sunday), it said.

"Accordingly, Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2024 (Sunday)," the order states.

For the week ended March 1, the foreign currency assets, a major component of the reserves, increased by USD 6.043 billion to USD 554.231 billion, the data said.

The MoU was signed here for establishing a framework to promote the use of local currencies for cross-border transactions, RBI said in a statement

The company shall, however, continue to service its existing loan accounts through the usual collection and recovery process.

As per a January 31 order of the RBI, Paytm Payments Bank was asked to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29

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Despite various shocks and crises, he said the Indian banking sector has seen a remarkable recovery.

In a set of Frequently Asked Questions (FAQs) on its website, the RBI said people can send the notes to any of its 19 issue offices from any post office.

The central bank said that in its statutory inspection of the bank with reference to its financial position as of March 31, 2022.

The central bank said that the penalty has been imposed in the exercise of powers conferred on RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

Police said that the sender in the email demanded the resignation of RBI governor Shaktikanta Das and Union Finance Minister Nirmala Sitharaman.