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The RBI on Wednesday issued directives to housing finance companies (HFCs) on maintenance of liquidity coverage ratio, risk management, asset classification and loan-to-value ratio. It said the directions, took immediate effect and were aimed at protecting the interests of investors and depositors. “All non-deposit taking HFCs with asset size of ₹100 crore and above and […]
Due to disruption caused by COVID-19, the CRR of all banks was reduced by 100 basis points to 3.0%. The Reserve Bank on Friday decided to restore the cash reserve ratio (CRR) in a phased manner to 4% in light of improved liquidity condition in the market. The CRR is the percentage of the total […]
MUMBAI: Even as the Reserve Bank has been aggressively signaling lower rates to revive the economy since the pandemic induced nation-wide lockdown by making the cost of borrowing cheaper, banks have transmitted less than half of these rate cuts. Despite the RBI signaling 115 basis point(one bps is 0.01%) reduction of its benchmark repo rate […]
Kolkata: The Reserve Bank of India and the government are working closely on how to allow the Aadhaar-based digital customer authentication facility to non-bank entities to help them to reach out and cater to a wider section of population, two people familiar with the matter said. This assumes significance amid the spread of coronavirus when […]