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RBI has hiked ATM transaction charges beyond permissible limit with effect from January 1, 2022
FATF periodically identifies jurisdictions with weak measures to combat money laundering and terrorist financing activities
RBI also suggests no requirement of collateral, and greater flexibility of repayment frequency for all microfinance loans
A savings bank account is the most basic instrument and is considered the primary step of financial inclusion
The pandemic-hit FY21 has seen tepid growth for ARCs, but retail loan portfolio grew faster, adding at least 25% more to AUM
This unsecured loan must be repaid within 60 months with a moratorium of 3 months
India’s largest bank introduced this debit card with enhanced security features a couple of months ago
The RBI, through a circular, extended the provisions issued for NBFCs to housing finance companies (HFCs) also.
Bank of Maharashtra has recorded a 13.45% increase in gross advances at Rs 1.07 lakh crore in 2020-21.
More MFIs are likely to opt for permitting restructuring under the Reserve Bank of India’s (RBI) Resolution Framework 2.0