Introduction Revised Requirement for Maintaining Additional CRR In accordance with Section 42(1) of the Reserve Bank of India Act, 1934, all Scheduled Banks are required to maintain a Cash Reserve Ratio (CRR) of 4.50% of their Net Demand and Time Liabilities (NDTL). This regulation ensures that banks maintain sufficient reserves to meet unforeseen liquidity requirements. Revised Requirement for Maintaining Additional CRR under Reserve Bank of India Act, 1934 All scheduled banks are required to maintain […]

NBFCs growth to be stronger due to unsecured loans, says ICRA Rating agency ICRA has revised its growth forecast for non banking finance companies (NBFCs) to 18% to 20% from 12% to 14% earlier due to likely strong demand for unsecured retail loans. However, higher cost of funds will keep margins under pressure for these lenders, the rating agency said. ICRA said that NBFC growth will come from the unsecured loans segment, consisting of personal […]

A new RBI platform will utilise milk supply data to lend to dairy farmers. Synopsis A borrower may determine their capacity to repay the loan by accessing information on the milk that dairy farmers sold to Amul or state-accessible land records through a new portal developed by the Reserve Bank Innovation Hub. Many farmers and dairy farmers are unable to secure bank loans due to a lack of credit history, but this action is considered […]

Sahara return Portal: Step-by-step instructions for Sahara group depositors seeking a return. Synopsis Genuine and authentic depositors of the four Sahara Societies listed below are entitled for a return through the CRCS Sahara return Portal. On July 18, 2023, Union Home Minister and Minister of Cooperation Amit Shah unveiled the Central Registrar of Cooperative Societies (CRCS)-Sahara Refund Portal. Who gets paid first? Amit Shah said that the first payment of up to Rs10,000 would be […]

How do first-time e-rupee users register/sign up? Synopsis Few clients were chosen to be a member of the Closed User Group (CUG) in the first trial of central bank digital money. It, like currency notes, may be used to carry out transactions and store value digitally. The “Digital Rupee” or “e-rupee” is legal currency issued in digital form by the Reserve Bank of India, comparable to sovereign paper money. It, like currency notes, may be […]