RBI extends timeline to comply with new rule for online transactions by 6 months

The primary objective of the framework was to protect customers from fraudulent transactions and enhance customer convenience

Sanjeev Ahluwalia | Keeping Big Biz out of banks not a good idea

Increasing the number of well- capitalised private banks will induce competition and dilute the concentration of economic power

However, depositors need not worry as their deposits will be transferred to DBS and would be fully secured

The primary focus of the revised scheme is to improve the flow of credit to the unserved and underserved sector of the economy

The bench said that it would take up the matter for hearing on November 18

A full recovery in the economy, therefore, would be incumbent on how fast the world defeats the coronavirus.

The apex court had earlier asked the Centre and the RBI to review the move to charge interest on deferred EMIs during the moratorium period

The RBI has allowed an additional 2.5 per cent of deposits for banks as HTM for the second half of the current financial year

Economists like Raghuram Rajan and others have suggested the government to open its purse strings to support the demand

Even the Economic Survey 2017 had proposed this idea, suggesting the creation of a bad bank called Public Sector Asset Rehabilitation Agency