RBI extends deadline for ₹2,000 banknote exchange; all you need to know

The existing provision for depositing or exchanging ₹2,000 banknotes has been prolonged until October 7, 2023. It's crucial to emphasise that ₹2,000 banknotes will continue to be recognised as legal tender.

Credit offtake continues robust growth; deposit growth at 6-year high: CareEdge

Credit offtake increased by 19.8% YoY driven by HDFC merger and growth in personal loans, according to CareEdge Ratings. Deposits also saw healthy growth, reaching a 6-year high.

RBI tells banks to name borrowers whose assets are possessed under Sarfaesi Act

The RBI notification says the REs will upload this information on their website in the format shared by the RBI.

RBI advises banks to prioritise a customer-centric approach

Swaminathan J, the Deputy Governor of RBI, urged the senior leadership of banks and other financial sector institutions to prioritize a customer-centric approach as a means to enhance public confidence in the banking system.

Have the means, but decide to default on loan? Find out how RBI handles wilful defaulters

The Reserve Bank of India has released directives pertaining to wilful defaulters within the financial sector.

Starting Oct 1, reloading forex cards for over ₹7 lakh to attract 20% TCS. Details here

If you reload your forex card for more than ₹7 lakh starting Oct 1, it will attract a TCS of 20 percent. The higher tax rate, however, won’t apply to payments made via credit cards

Who is a wilful defaulter? An explainer as RBI expands the scope

It refers to a borrower who has access to funds to repay his loans but he still chooses not to, and defaults on the repayment of loan. RBI has now released a draft master direction on treatment of wilful defaulters

DCB Bank stock surges over 4.5% on RBI approval for HDFC AMC stake acquisition

Over the last six months, DCB bank shares have appreciated from ₹102 to ₹127.80, translating into a gain of 25.30%. In the quarter ending June, the bank reported a profit after tax (PAT) of ₹127 crore.

E-­rupee worth ₹16.39 crore in circulation as of March, shows RBI data

Of the total e­rupee in circulation, ₹10.69 crore was wholesale CBDC and ₹5.70 crore retail CBDC, data showed.

UPI now, pay later: 2 banks have rolled out this facility

Now users can get a pre-approved credit line enabled with their UPI account. This means they can make payment via QR-code enabled payment interface even when their bank balance falls short

Top Rbi News

personal finance

RBI extends deadline for ₹2,000 banknote exchange; all you need to know

markets

Credit offtake continues robust growth; deposit growth at 6-year high: CareEdge

personal finance

RBI tells banks to name borrowers whose assets are possessed under Sarfaesi Act

personal finance

RBI advises banks to prioritise a customer-centric approach