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The use case for this pilot is settlement of secondary market transactions in government securities. Use of e₹-W is expected to make the inter-bank market more efficient. Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk.
‘दक्ष (DAKSH)’ is a web-based end-to-end workflow application through which RBI shall monitor compliance requirements in a more focused manner with the objective of further improving the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc.
Das added, “The emergence of FinTech players and the growing popularity of their innovative products have challenged the existing players in financial services in maintaining their market share, margins and customer base. The incumbent firms are responding to these challenges by adopting various strategies, which include making investments in FinTech companies and partnering with them. They are also enhancing their in-house capabilities to adapt to the new realities.”
The Reserve Bank of India’s Governor, Shaktikanta Das today on May 17 and 18 held meeting with select MD &…
Six of the eleven applicants were not found suitable by RBI for granting of in-principle approval to set up banks.
The RBI today announced the appointment of Sitikantha Pattanaik and Rajiv Ranjan as its new Executive Directors. Both have an experience of more than three decades in economics field and have been associated with the central bank earlier.
Digital banking products and services would generally mean those financial products/services whose designs and fulfilments have nearly end-to-end digital life cycle with the initial customer acquisition / product delivery necessarily taking place digitally through self-service or assisted self-service.
There have been reports of such ETPs engaging agents who personally contact gullible people to undertake forex trading investment schemes and entice them with promises of disproportionate/exorbitant returns.
The Reserve Bank of India (RBI) announced the index figures of digital payment adoption. The central bank had announced construction…
The Reserve Bank of India (RBI) on January 4 said it has appointed Deepak Kumar & Ajay Kumar Choudhary as…