UDGAM Portal: Search and Claim Unclaimed Deposits from 30 Banks Introduction UDGAM Portal The Reserve Bank of India (RBI) has introduced the UDGAM (Unclaimed Deposits – Gateway to Access information) portal, which allows individuals to easily search and claim their unclaimed deposits. With the recent addition, a total of 30 banks are now onboarded on the UDGAM portal, making it a comprehensive platform for accessing information on unclaimed deposits. This initiative by the RBI aims […]

Following a recent change in the Reserve Bank of India (RBI)’s regulations, venture capital and private equity funds have halted new and follow-up investments, resulting in a backlog of deals, said fund managers and founders. The industry has approached the banking regulator, seeking clarification, they added.   Recent RBI Rule Change Hinders Investments, Creating Backlog of Deals for AIFs   Industry Seeks Clarification on Regulatory Change   Introduction: According to industry experts, a recent regulatory […]

RBI Revises Investment Categorization Guidelines to Align with Global Standards   Changes to Holding Period and Investment Categories for Banks   RBI Removes 90-Day Ceiling on HFT Category The Reserve Bank of India (RBI) has revised its guidelines for banks to establish consistency with global standards in categorizing investments. Building on a discussion paper released in January 2022, RBI announced on Tuesday the elimination of the 90-day holding period limit for securities classified under the […]

RBI Issues Guidelines for Responsible Lending, Sets 30-Day Limit to Release Property Documents After Loan Closure The Reserve Bank of India (RBI) took a significant step on Wednesday by introducing guidelines for banks, non-banking financial companies (NBFCs), and other regulated entities to tackle borrower-related issues and encourage responsible lending practices. According to the RBI, regulated entities (RE) must release all original movable or immovable property documents and clear charges registered with any registry within 30 […]

Embracing Contract CXOs: A Strategic Initiative for Cost Optimization in Indian Banks   In a bid to optimize costs and enhance operational efficiency, Indian banks are increasingly turning to contract staffing, including hiring contract C-suite executives.  Headhunting firms have become instrumental in this paradigm shift, helping banks recruit subject-matter experts on flexible contracts. Embracing Contract CXOs Strategic Initiative for Cost Optimization in Indian Banks This article explores the driving factors behind this strategy, the sought-after […]