Amazon Pay to tie up with NPCI for credit services on UPI platform: Report 

Amazon Pay to tie up with NPCI for credit services on UPI platform: Report 

Amazon Pay is planning to kick off credit services on the Unified Payments Interface (UPI) platform as part of a deal with the National Payments Corporation of India (NPCI). This initiative aims to enhance customer experience and value propositions, Vikas Bansal of Amazon Pay India told The Financial Express (FE). In February of this year, … Read more

Will take up strategic role to contribute to growth of Bandhan Group: Chandra Shekhar Ghosh, Bandhan Bank

Will take up strategic role to contribute to growth of Bandhan Group: Chandra Shekhar Ghosh, Bandhan Bank

“There are a good number of senior management people we have already boarded to the bank and they are also setting up the bank and so it is the right time, given we have a very professional team,” says Chandra Shekhar Ghosh, MD & CEO, Bandhan Bank.What are your future plans?I need to retire and … Read more

RBI to launch mobile app for investing in government securities

RBI to launch mobile app for investing in government securities

Reserve Bank of India Governor Shaktikanta Das on Friday announced that it would launch of a dedicated mobile application for Retail Direct Scheme so that investors can make payments in a seamless way. Retail Direct scheme is a one-stop solution to facilitate investment in Government Securities by Individual Investors. It doesn’t require any intermediaries or … Read more

India allows RBI to import gold without paying import levies

India allows RBI to import gold without paying import levies

India has allowed its central bank to import gold without paying import levies, the government said in a notification issued late on Tuesday. Gold importers from the world’s second biggest gold consumer need to pay basic customs duty and Agriculture Infrastructure and Development Cess (AIDC). As of September 2023, the Reserve Bank of India held … Read more

EU moves to tweak rules on foreign central counterparties amid tussle between RBI and European regulators

EU moves to tweak rules on foreign central counterparties amid tussle between RBI and European regulators

Mumbai: European Union authorities have proposed amending norms on exposure to third-country clearing houses, a move that comes amid a protracted tussle between the Reserve Bank of India (RBI) and regulators from the continent on treating the primary domestic sovereign bond platform. ET has seen a document dated February 13 that showed the General Secretariat … Read more

RBI proposes norms for disclosure of climate-related financial risks for lenders

RBI proposes norms for disclosure of climate-related financial risks for lenders

Kolkata: The Reserve Bank of India has told banks and other lenders to disclose more information about their climate-related financial risks so that stakeholders — from regulators to customers — can understand and assess the risk early. Climate-related disclosures by regulated entities is an important source of information for different stakeholders — customers, depositors, investors … Read more

Maternity benefits | Differentiation not permissible between regular, contractual employees: Calcutta High Court

Maternity benefits | Differentiation not permissible between regular, contractual employees: Calcutta High Court

A view of the Calcutta High Court. File | Photo Credit: The Hindu Observing that no differentiation is permissible between regular and contractual employees on the question of a woman’s right to childbirth and maternity leave, the Calcutta High Court has directed the Reserve Bank of India (RBI) to compensate an executive intern. The petitioner, … Read more

RBI wants to keep inflation vigil, MPC’s external members see room to ease a bit

RBI wants to keep inflation vigil, MPC’s external members see room to ease a bit

Mumbai: Temporary food shocks, fiscal consolidation and high real interest rates have created the scope for reduction in policy interest rates, said external members of the Monetary Policy Committee, but those from the Reserve Bank of India (RBI) believe that the markets are running ahead of policy makers. Prof. J.R. Varma, who voted for a … Read more

India needs to grow at 7-8 per cent annually to become developed nation by 2047, says Ex RBI Guv C Rangarajan

India needs to grow at 7-8 per cent annually to become developed nation by 2047, says Ex RBI Guv C Rangarajan

India needs to grow at seven to eight per cent annually in order to become a developed nation with USD 13000 per capita income by 2047, former Reserve Bank Governor C Rangarajan said on Tuesday. Asserting that innovation cannot be a single solution to reduce inequalities or poverty, the former Chairman of the Prime Minister’s … Read more