RBI Tweaks Rules To Cut Risk Banks Face In Exposure To Capital Markets | Economy News

[ad_1] New Delhi: The RBI on Friday tweaked rules to reduce the risk faced by banks in their exposure to capital market in the case of issue of Irrevocable Payment Commitments (IPCs). The RBI issued a circular stating that “only those custodian banks will be permitted to issue IPCs, who have a clause in the … Read more

RBI bars Kotak Mahindra Bank from onboarding fresh customers via online, mobile banking; asks it to stop issuing fresh credit cards

[ad_1] The Reserve Bank of India (RBI) has instructed Kotak Mahindra Bank to immediately stop onboarding new customers through its online and mobile banking channels and cease issuing new credit cards. This regulatory action was taken due to concerns about the bank’s compliance and risk management practices.However, RBI has directed Kotak Mahindra Bank to continue … Read more