RBI’s rule is blunt: every loan made through an app by a bank or NBFC “shall always be made into the bank account of the borrower”, never to an agent’s account. Every app those lenders use must also be reported to RBI, which then lists it publicly. Together, those two rules give you a quick…
By 31 December 2026, which is 84 days from today, RBI expects two changes to how your financial data moves. First, any account aggregator you use should be able to pull information through every other aggregator. Second, the Consolidated Account Statement (CAS) you get from the depositories can start showing your bank deposits next to…
Rekha has ₹1.2 lakh in savings and a ₹4.5 lakh FD at the same bank, both in her own name. That is ₹5.7 lakh in total. If the bank failed, DICGC deposit insurance would pay her ₹5 lakh, not ₹5.7 lakh. Her joint account with her husband at the same bank, though, is covered separately….
“Paytm Payments Bank Limited has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934.” That single sentence was RBI’s whole announcement on Wednesday 7 October (press release 2026-2027/1273). The exclusion itself took effect through a notification dated 31 July 2026, published in the Gazette of India on 7 September. For…
If the repo rate is 5.50%, what are the two other rates in Wednesday’s RBI statement for? Paragraph 2 of the 7 October MPC resolution says the SDF rate “stands adjusted at 5.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 5.75 per cent.” SDF and MSF are the…
The repo rate is now 5.50%. On Wednesday 7 October, the Monetary Policy Committee voted 6–0 to raise it by 25 basis points and switched its stance from neutral to “calibrated tightening”. Within hours of the RBI MPC decision, at least five banks announced higher lending benchmarks effective today, Thursday 8 October. Here is what…
₹1,47,767 for 10 grams of 24-carat gold: that is the last rate IBJA published before Thursday trade opens, from its Wednesday 7 October afternoon (PM) fix. If you are checking the gold silver price today early on 8 October, this is the newest benchmark available; IBJA’s Thursday fixes come out later in the day. Silver…
At a bank counter, the torn ₹500 note usually comes out of an envelope with an apology, as if the customer expects to be turned away. They shouldn’t. RBI’s Master Direction says “None of the bank branches shall refuse to accept coins and/ or small denomination notes”, and it requires every branch to exchange damaged…
“My daughter is 11. Can she have her own debit card, or does everything have to go through me?” We hear versions of this question every school term. Since 1 July 2025, RBI’s rules give a clear answer. A bank account for minor children aged 10 and above can be opened and operated by the…
In RBI’s September 2026 data, 29.6% of all floating-rate rupee loans of scheduled commercial banks were still linked to MCLR at the end of June 2026. That is down from 30.2% at the end of March. External-benchmark (EBLR) loans made up 68.2%. The same release, published on 30 September, showed the median one-year MCLR falling…