The Reserve Bank of India (RBI) is set to introduce a unified interest rate framework for Non-Banking Financial Companies (NBFCs), aligning them more closely with the norms followed by banks. This move aims to improve the transmission of monetary policy …
The Reserve Bank of India (RBI) has levied monetary penalties totaling Rs. 2.206 crore on five leading Indian banks for various lapses in regulatory compliance. The banks penalized include ICICI Bank, Axis Bank, IDBI Bank, Bank of Maharashtra, and Bank …
The supreme court also proposed standardizing fees for title search reports to ensure their quality. In a significant move to safeguard public funds and reinforce trust in the banking sector, the Supreme Court has urged the Reserve Bank of India …
The standard UPI transaction limit is Rs 1 lakh per transaction. However, for certain categories, such as capital markets, collections, insurance, and foreign inward remittances, the limit is set at Rs 2 lakh. For Initial Public Offerings (IPOs) and the …
CBDT Notification 45 & 46 of 2024: RBI is excluded from the category of “Specified Persons” who would otherwise face higher TDS/TCS rates due to non-filing of ITR. The Central Board of Direct Taxes (CBDT) has issued Notifications 45 and …
This move by the RBI aims to stabilize liquidity levels amidst the anticipated drain due to tax payments, ensuring banks have enough funds to smoothly navigate the financial landscape. The Reserve Bank of India (RBI) injected a hefty sum of …