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Banking

RBI Lifts Restrictions on Bank of Baroda’s Mobile App Bob World

The Reserve Bank of India (RBI) has granted Bank of Baroda to resume on-boarding customers through its mobile application, Bob World. This decision comes...

RBI Directs Non-Bank Lenders to Adhere to Cash Payout Limit for Loans

India's Reserve Bank, in a recent move, cautioned non-bank lenders against surpassing the permissible limit of ₹20,000 ($240) for cash loans, aiming to curb...

Banks Poised to Boost Productivity and Revenue with Generative AI Integration: Report

In a recent analysis conducted by IT giant Accenture, the potential impact of Generative Artificial Intelligence (GenAI) on the banking sector has been unveiled,...

RBI to Combat Cyber Fraud, Including Restrictions on Suspicious Bank Accounts

Reserve Bank of India (RBI) is poised to introduce new guidelines aimed at bolstering the country's defenses against the rising tide of cyber crime....

RBI Directs Kotak Mahindra Bank to Halt New Credit Card Issuance and Customer Onboarding

The Reserve Bank of India (RBI) has instructed Kotak Mahindra Bank to suspend the issuance of fresh credit cards and cease onboarding new customers...

Bombay High Court Restricts Public Sector Banks’ Power on Look Out Circulars

The Bombay High Court declared that public sector banks lack the authority to recommend or request the central government for the issuance of Look...

RBI and Fintech Leaders Confer on Strategies to Boost Adoption of Central Bank Digital Currency

In a collaborative effort to invigorate public interest in the Central Bank Digital Currency (CBDC), the Reserve Bank of India (RBI) convened a pivotal...

RBI Mandates Key Fact Statements for Retail and MSME Loans Starting October 1, 2024

In a move aimed at enhancing transparency and empowering borrowers, the Reserve Bank of India (RBI) has issued a directive requiring lenders to furnish...

CEIB Pushes for Stringent Loan Clearance Process to Curb Financial Frauds

In a bid to fortify the financial sector against potential frauds and ensure meticulous risk assessment, the Central Economic Intelligence Bureau (CEIB) has urged...

ICRA Revises Indian Banking Sector Outlook to ‘Stable’ from ‘Positive’

The rating agency ICRA has adjusted its outlook for the Indian banking sector, downgrading it from 'positive' to 'stable.' This revision comes in light...

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