In 2023-24, a bumper Rs 2.11 trillion dividend was transferred by the Reserve Bank of India (RBI) to the government
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The projection is cited to enhance activities in real estate, renewable energy, and semiconductors among other sectors.
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According to RBI, this initiative, initially introduced as a draft on January 15, 2024, has now been refined based on feedback from various stakeholders.
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The report says that the majority of frauds in terms of the number have occurred in the digital payments category (card/internet), while in terms of value, they have primarily been reported in the loan portfolio
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The Company has taken note of RBI’s guidance and will take necessary remedial steps as required immediately.
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RBI said the government's continued thrust on capital expenditure while pursuing fiscal consolidation
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This transfer, coupled with the subsequent government spending, will bolster the central government's fiscal position, enabling potential additional spending or fiscal consolidation.
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RBI directs ECL to cease from engaging in any structured transactions involving wholesale exposures, and EARCL to stop the acquisition of financial assets
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RBI encourages the fintech and regulated entities to actively contribute to the repositories
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This decisive action comes in response to supervisory concerns identified during recent examinations, as per RBI release
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