SBI report says, dividend is estimated to ease fiscal deficit by 30 to 40 bps from the budgeted level of 5.1 per cent of GDP for FY25
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Banks and financial institutions have been investing in IT infrastructure to manage operations, but compliance depends on many parameters
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The proposed guidelines require lending service providers (LSP) to digitally share information about all available loan offers from willing lenders with whom they have lending arrangements
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The guidelines suggest provisioning for project loans from the current rate of 0.4 per cent to a range of one to five per cent without mentioning a lower threshold of financing
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The RBI typically conducts six bimonthly meetings in a financial year, where it deliberates interest rates, money supply, inflation outlook
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RBI instructs both NBFCs to rigorously abide by the Income Tax Act's (IT) cash distribution provisions
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The stakeholders included Banks, National Payments Corporation of India (NPCI), Third Party Application Providers and Technology Service Providers, and discussions centred around potential strategies for further expanding the reach of UPI
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RBI in its recent draft circular on prudential norms has said provisioning of infrastructure and non-infrastructure loans to 5 per cent
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The penalty, imposed by an order dated April 29, 2024, has been invoked under the powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act
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