RBI’s new credit and debit card rules to be effective from 1st October 2020 – Check details

FINANCIAL EXPRESS
With the rise in banking fraud cases, the Reserve Bank of India has issued new guidelines to secure debit and credit cards. These changes will be effective from 1st October 2020. RBI has issued new rules for debit and credit cards to improve the security and convenience of card transactions.

According to the new guidelines, card users will now be able to register preferences…

Banks to roll out stressed loans resolution scheme by Sept 15

Hindustan Times
Finance minister Nirmala Sitharaman asked banks and NBFCs to factor in Covid-19 related distress to assess creditworthiness of the borrowers when rolling out their resolution schemes for stressed borrowers.

The Reserve Bank of India (RBI) did not extend a moratorium on loan repayment by small and medium enterprises (MSMEs) that ended on August 31.(REUTERS)

Finance minister Nirmala…

Most companies that availed loan moratoriums were facing challenges before COVID-19: Crisil

The Economic Times
The RBI introduced the loan moratorium from March to help businesses and individuals impacted by the pandemic. Interest on the loans will keep getting accrued, but a borrower will not be tagged as a defaulter for non-payment.

AgenciesOnly one out of four companies that availed the moratorium is rated in the investment grade, according to Crisil.

MUMBAI: A majority of the…

Private consumption hit

Nagaland Post
Columnists Private consumption hitBy Nagaland Post | Publish Date: 8/30/2020 12:53:48 PM IST RBI income slumps 29 percent. Gives Rs 57.128 crore bonus The pandemic is devastating world economy. Consumption shock is severe. Like the World Bank, RBI is less hopeful of coming out of contraction and even with higher government spending recovery may be delayed. The RBI annual…

Private consumption hit

Nagaland Post
Columnists Private consumption hitBy Nagaland Post | Publish Date: 8/30/2020 12:53:48 PM IST RBI income slumps 29 percent. Gives Rs 57.128 crore bonus The pandemic is devastating world economy. Consumption shock is severe. Like the World Bank, RBI is less hopeful of coming out of contraction and even with higher government spending recovery may be delayed. The RBI annual…

The current banking challenge is the most intractable one even before COVID-19: Urjit Patel

The Hindu
Our macroeconomic problems have created financial sector crisis periodically, says the former Reserve Bank of India Governor.

Our macroeconomic problems have created financial sector crisis periodically, says the former Reserve Bank of India Governor.

In his first interaction with a journalist after stepping down from the Reserve Bank of India (RBI), former Governor Urjit Patel…

Recovery hopes dashed for India’s recession-hit economy: Reuters poll

One America News Network
BENGALURU (Reuters) – India’s deepest recession on record will linger through the rest of this year and begin to lift only in early 2021 as a rapid surge in the coronavirus spread squelches a nascent rebound in consumption and business activity, a Reuters poll showed.

New Delhi has already set aside $266 billion of economic rescue spending and the Reserve Bank of India has slashed…

RBI hasn’t exhausted its ammunition in COVID war, says Shaktikanta Das

FINANCIAL EXPRESS
The Reserve Bank of India ( RBI ) has not exhausted its policy options by front-loading repo rate cuts and it continues to have enough instruments to battle the challenges brought upon by Covid-19, governor Shaktikanta Das said on Thursday. At the same time, Das reiterated the importance of winding down the regulatory forbearance being offered in view of the pandemic as soon as its…

RBI governor cautions against undue risk aversion

Hindustan Times
Das suggests banks to reframe strategy to support sunrise sectors and those that can bounce back from Covid-19.

RBI Governor Shaktikanta Das(Mint)

Reserve Bank of India governor Shaktikanta Das on Wednesday warned banks against becoming overly risk-averse and suggested that they reframe their strategy to support sunrise sectors as well…

Financial sector should return to normalcy without relying on relaxati

Daily News & Analysis
Das said that RBI will start giving its estimates on inflation and growth and has not exhausted its ammunition, whether on rate cuts or other policy actions.

Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday said that while the moratorium on repaying loans was a temporary…