Sound governance provides strong foundation for asset reconstruction companies: RBI
In his keynote address, M. Rajeshwar Rao highlighted that sound governance provides a strong foundation for the ARCs to build a robust business model.
In his keynote address, M. Rajeshwar Rao highlighted that sound governance provides a strong foundation for the ARCs to build a robust business model.
Gold reserves held domestically in India surged 40 per cent in the last 5 years, data from the Reserve Bank of India (RBI) said.
Prior to being promoted as an ED, Rao was serving as a Chief General Manager-in-Charge in the Department of Regulation.
Bank of Baroda said on Wednesday that the RBI has lifted its ban on BoB World and the bank has now been allowed to onboard customers through the app.
The subsidiary will engage in several financial activities as a finance company within GIFT, including lending, investment, and other services.
IIFL Finance shares hit the lower circuit of 20 per cent on Tuesday following the RBI order. The shares are trading at Rs 478.50, down 20 per cent.
Further, the shareholders of PPBL have agreed to simplify the Shareholders Agreement (SHA) to support PPBL’s governance, independent of its shareholders.
The survey further revealed that Paytm remains the preferred application for 58 per cent of the surveyed merchants, followed by 23 per cent for PhonePe, 12 per cent for Google Pay, and 3 per cent for BharatPe.
As the Paytm Payments Bank cannot accept further credits into its customer accounts and wallets after March 15, 2024, certain additional steps have become necessary, RBI said.
RBI economists, in a report released on Tuesday, rejected the IMF view that India’s debt-GDP ratio has the potential of shooting past 100 per cent if historical shocks materialise and hence the country needs to go cut government expenditure.