ATM frauds: Here are some tips to help you minimise the risk

The Reserve Bank of India (RBI) has asked banks to upgrade the older operating system (Windows XP and before that) on their ATMs. By June 2019, all ATMs have to be upgraded. The regulator has also asked banks to implement anti-skimming solutions by next March. The RBI has come up with the directives as ATM-related… Continue reading ATM frauds: Here are some tips to help you minimise the risk

Govt to probe suspected hoarding of Rs 2,000 notes, cash withdrawal spike

The government has launched a probe into suspected hoarding of Rs 2,000 notes and a spike in cash withdrawals over the last fortnight. “The Department of Revenue will establish the reason for possible hoarding of Rs 2,000 notes. There has also been a sudden increase in cash withdrawals, especially in the last 15 days, which… Continue reading Govt to probe suspected hoarding of Rs 2,000 notes, cash withdrawal spike

ATM cash crunch: Shortage to continue for 5-7 days; top 10 developments

A cash crunch at ATMs has hit a dozen states, including Uttar Pradesh, Madhya Pradesh, poll-bound Karnataka, Telangana, Andhra Pradesh, Bihar, Gujarat, Maharashtra, Rajasthan, and Punjab. With automated teller machines (ATMs) drying up, the central government and the Reserve Bank of India (RBI) stepped in to address the currency shortage, even as Finance Minister Arun… Continue reading ATM cash crunch: Shortage to continue for 5-7 days; top 10 developments

Axis Bank asset quality may deteriorate more than expected, says Moody’s

Global ratings agency Moody’s on Thursday said private lender Axis Bank‘s asset quality may deteriorate further and more than what was previously expected over the next 12-18 months. In addition, compared to the other rated Indian banks, the bank has been a laggard in recognising its asset quality problems, a credit negative for its credit… Continue reading Axis Bank asset quality may deteriorate more than expected, says Moody’s

Vikram Akula back into microfinance biz through Vaya Finserv

Hyderabad-based Vaya Finserv is set to launch microfinance operations, also marking the comeback of Vikram Akula into the sector he’d substantially influenced not long before. Debuting as a banking correspondent (BC) in 2015, Vaya is opening its first set of 15 microfinance branches this week in Bihar, a state where it sees a big need… Continue reading Vikram Akula back into microfinance biz through Vaya Finserv

RBI caps banks exposure to Reits, InvIts at 10% of unit capital

The Reserve Bank on Monday amended the statutes making it possible for lenders to invest in Reits and InvIts capping such exposures to 10 per cent of the unit capital of such instruments, and also to regulate their commodity derivatives play. In amendments to the Master Direction- Reserve Bank of India (Financial Services provided by… Continue reading RBI caps banks exposure to Reits, InvIts at 10% of unit capital

RBI awaiting govt notification for coming out with P2P lending norms

The Reserve Bank is waiting for a gazette notification from the government on getting the peer-to-peer lenders under its regulatory ambit before coming out with guidelines on the sector, a senior official said on Wednesday. “Following up on the consultation paper we did last year, we are shortly going to come up with guidelines on… Continue reading RBI awaiting govt notification for coming out with P2P lending norms