Search results
Results From The WOW.Com Content Network
In a stock filing immediately after the RBI's order, Paytm warned the order to close Paytm Payments Bank could drag down annual earnings before interest, tax, depreciation and amortization by up ...
Paytm Payments Bank (PPBL) was an Indian payments bank, founded in 2017 and headquartered in Noida. [3] In the same year, it received the license to run a payments bank from the Reserve Bank of India and was launched in November 2017. [4] [5] [6] In 2021, the bank received a scheduled bank status from the RBI. [7] [8]
The RBI will grant full licenses under Section 22 of the Banking Regulation Act, 1949, after it is satisfied that the conditions have been fulfilled. [12] March 2019 witness, Paytm account for over 19% of all mobile-banking transactions while Airtel's Payments Bank contributed more than 5% to the 867 million transactions made during the month.
The same year, the RBI started issuing a new bond called the Sovereign Gold Bond, on behalf of the Government. [36] The intent behind the scheme was to reduce gold imports by shifting investments from physical gold into a bond that tracked the price of gold. [37] The bond also carried interest.
On Friday, RBI sold bonds worth 113.27 billion rupees, less than half of what it set out to raise for the government and rejected all bids at the sale of the 10-year bond. The central bank has ...
In India, the Statutory liquidity ratio (SLR) is the Government term for the reserve requirement that commercial banks are required to maintain in the form of cash, gold reserves, Govt. bonds and other Reserve Bank of India (RBI)- approved securities before providing credit to the customers. The SLR to be maintained by banks is determined by ...
The immediate impact was a drastic fall in share prices and market index, causing a breakdown of the securities control system operation with the commercial banks and the RBI. [21] Around ₹35 billion from the ₹2,500 billion market was withdrawn, causing the share market collapse.
Cash withdrawals from bank accounts were restricted to ₹10,000 per day and ₹20,000 per week per account from 10 to 13 November. [2] This limit was increased to ₹24,000 per week from 14 November 2016. [45] [46] Limits on cash withdrawals from Current accounts/ Cash credit accounts/ Overdraft accounts were withdrawn later.