Inflation is expected to remain above the Reserve Bank of India's target level of 4 per cent over the forecast period due to strong economic activity, Majumdar said.
The Reserve Bank of India (RBI) on Thursday cautioned the public against Prepaid Payment Instruments issued by unauthorised entities.
The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) member highlighted that going ahead, as India develops, the problem of high food inflation would be "less severe".
However, the RBI (Reserve Bank of India) said the bank shall continue to provide services to its existing customers, including its credit card customers.
The RBI said that the regulation would be effective from April 24, 2024. ARCs, as on October 11, 2022, have been provided a glide path to achieve the minimum required Net Owned Fund (NOF) of Rs 300 crore.
Udyam Registration Portal is the official portal to register an MSME.
Overall, the penalties account for Rs 14.50 crore. Out of the total, Bank of Baroda was penalised with the highest amount - Rs 2 crore, and the State Bank of India the lowest amount - Rs 0.50 crore.
In case of a severe stress scenario, the GNPA may rise to 11.22 per cent, although SCBs have sufficient capital, both at the aggregate and individual level, even under stress.
"Accordingly, it is hereby notified for the information of the public that the validity of the aforesaid directive dated September 23, 2019, as modified from time to time, has been extended for a further period from July 1, 2021 to December 31, 2021, subject to review," it added.
Microfinance was once applauded as the world's most powerful tool for eliminating poverty. The initial microfinance boom brought many benefits. But it is now widely reported that the effects of microfinance loans on poverty, health and other social outcomes have been ‘small and inconsistent'.
