RBI panel proposes new ownership, governance norms for private banks
An updated effort to attract long term capital towards a sector that never seems to get enough of it !
RBI
Reserve Bank revises audit norms for banks
The RBI on Saturday came up with revised long format audit report (LFAR) norms with a view to improving the efficacy of internal audit and risk management systems. The LFAR, which applies to statutory central auditors (SCA) and branch auditors of banks, has been updated keeping in view the large scale changes in the size, … Read more
GPay does not need RBI authorisation as it’s not a payment system operator: Google to HC
And is only a third party application provider. Google, in an affidavit, has said the PSO authorised by the Reserve Bank of India (RBI) is the National Payment Corporation of India (NPCI) which is the owner and operator of the entire unified payment interface (UPI) network. NPCI, in turn, authorises the payment service provider banks … Read more
RBI further cuts rate by 40 bps. What about previous cuts?
In a widely expected move, RBI today slashed policy rates by 40 bps to ease Covid2019 impact. The repo rate now stands at 4% and reverse repo at 3.35%. This is the second significant cut in the year. Previously, in March RBI had cut the repo rate by 75 bps. “The MPC also decided to … Read more
RBI’s transfer of Rs 1.76 lakh crore to the government
Too much noise whether it is right or wrong – what matters is what lies ahead !