Topic: RBI

The RBI’s oversight framework, coupled with localisation of payments data, can seriously deter the capacity of the digital payment sector in detecting frauds and ensuring the security of the user in the digital payment ecosystem.

With no govt-led resolution plan yet, crisis-ridden Lakshmi Vilas Bank could get institutional investor support to raise fund. LIC, Aditya Birla Sun Life Insurance, Indiabulls are among its investors.

During Dhanlaxmi bank’s 93rd annual general meeting, 90.49 per cent of the total valid votes were polled against Sunil Gurbaxani's appointment as MD and CEO of the bank.

In the last week, cash-strapped Lakshmi Vilas Bank has seen shareholders vote out its top management, raising concerns over the proposed merger deal with Clix Capital.

In the last few years, delay in appointments has resulted in several posts in regulatory bodies and public sector banks lying vacant for months.

The panel was scheduled to meet for three days beginning 29 September for RBI's bi-monthly monetary policy review. RBI did not give any reason for rescheduling the meet.

The rating agency says India, Mexico, and South Africa are among the banking systems that will be slower to recover to 2019 levels — likely beyond 2023.

RBI’s process to fix the bank hasn’t yielded any results. The bank’s net worth is wiped out and its depositors are struggling with restrictions on withdrawal.

Focusing on core prices — which strips out volatile food & fuel costs — instead of the retail consumer prices carries the risk of under-predicting inflation.

Indian businesses still trying to cope with a collapse in demand must now figure out how to pay back loans or face closure after moratorium ended 31 Aug.