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Why in the News? RBI superseded the board of New India Co-operative Bank due to governance issues and financial irregularities. Revised norms expand small-value loan definition, increase real estate exposure limits, and update provisioning for security receipts (SRs). New regulations aim to enhance operational flexibility while maintaining regulatory oversight. RBI Revises Co-operative Bank Norms: RBI …
Read MoreWhy in the news? The government is considering raising the deposit insurance limit beyond ₹5 lakh to enhance depositor protection. This follows RBI’s restrictions on New India Co-operative Bank due to governance concerns, highlighting the need for stronger financial security measures. Government’s Plan for Deposit Insurance: The Indian government is considering raising deposit insurance beyond …
Read MoreWhy in the news? The Supreme Court ruled that only the Reserve Bank of India can regulate credit card interest rates, overturning a 2008 NCDRC order capping rates, and clarified that high rates aren’t “unfair trade practices” under consumer laws. Key Decision Highlights: The Supreme Court ruled that high interest rates on credit card loans …
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