Undo My Deloitte. Save for later. The objective of these guidelines is to frame an explicit policy on structure of new private sector banks as well as to outline application and selection process to guide the applicants. What do you think? Join the conversation on Twitter. Contact us Submit RFP. Did you find this useful?
According to the RBI, it is expected that headline inflation will peak in the fourth quarter of the current fiscal and soften thereafter. Even though a transaction is mainly a debit and credit between two banks, there are many intermediaries that facilitate these transactions. Firstpost Conversations 9 Months S. RBI to set up new fintech department to push innovation In an internal circular, the Reserve Bank of India RBI said it decided to set up the fintech department to further focus and facilitate innovation in the Indian fintech sector.
There was no point keeping the tweet anymore on his Twitter profile, he added. All News Videos. New RBI rules in the making may allow neo banks, digital platforms to flourish and deepen inclusion Key recommendations that can be implemented in the near term include restricting lending activities only to entities regulated by the RBI. A self-regulatory organisation SRO to frame standards and good practices among digital lending companies is another crucial suggestion. Systemically important banks are those whose assets account for at least 0.
At least 12 foreign banks, including Bank of America Corp. One of the incentives is allowing foreign banks to buy private sector banks in India. If indeed that happens, banking will never be the same in India. The new norms will give incentives to banks to detect the first sign of a loan turning bad and take remedial steps and, at the same time, they will make life difficult for rogue borrowers.
Overall, will be action-packed; banks cannot ask for a more exciting time. Never miss a story! Stay connected and informed with Mint. Download our App Now!!
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