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The Reserve Bank of India approved the first-ever merger of two small finance banks on Monday.

RBI approves merger of Fincare Small Finance Bank with AU Small Finance Bank

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The Reserve Bank of India (RBI) has issued the Master Direction on Reserve Bank of India (Bharat Bill Payment System) Directions 2024.

RBI issued Master Direction on RBI (Bharat Bill Payment System) Directions 2024

RBI emphasized that, as of the close of business on February 29, 2024, the total value of Rs.2,000 banknotes in circulation had decreased to Rs.8,470 crore from Rs.3.56 lakh crore on May 19, 2023, the day the withdrawal was announced.

Rs.2000 Banknotes Withdrawal: Total value of Banknotes in circulation declined to Rs.8,470 crore by Feb end

NEFT system has achieved a milestone on February 29, 2024, by processing 4,10,61,337 transactions, the highest number of transactions processed in a day so far.

Milestone of processing 4,10,61,337 Transactions Reached by NEFT on 29.02.2024

RBI has imposed a monetary penalty of Rs.29.30 lakh on 2 Cooperatives and 1 Sahakari Bank for non-compliance with directions issued by RBI.

RBI imposes Monetary Penalty on 2 Cooperative and Sahakari Bank for non-compliance with direction

RBI imposes Monetary Penalties on 2 Cooperative and Sahakari Bank for non-compliance with direction

The Reserve Bank of India (RBI) has amended Capital Adequacy Guidelines which is going to be applicable from April 1, 2024.

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RBI approves merger of Fincare Small Finance Bank with AU Small Finance Bank

RBI issued Master Direction on RBI (Bharat Bill Payment System) Directions 2024

Rs.2000 Banknotes Withdrawal: Total value of Banknotes in circulation declined to Rs.8,470 crore by Feb end

Milestone of processing 4,10,61,337 Transactions Reached by NEFT on 29.02.2024

RBI imposes Monetary Penalties on 2 Cooperative and Sahakari Bank for non-compliance with direction

RBIs amended Capital Adequacy Guidelines applicable from April 1, 2024