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Tech

RBI – India’s foreign exchange reserves is up by $7.78 billion and now stands at a record high of $568.49 billion

RBI data says that week ending November 6th has shown a record jump in India’s forex reserves. RBI has said that this jump can be attributed to an increase in foreign current assets (FCAs). RBI also said that gold reserves saw a $1.328 billion gain to end the week at $37.587 billion.

Tech

RBI allows NBFCs to tie up with Banks and co-lend to priority sector

The Reserve Bank of India (RBI) has permitted all registered non-banking finance companies (NBFCs) to enter into tie-ups with commercial banks and co-lend loans to the priority sector. Under this newly revised guideline called ‘Co-Lending Model’, all NBFCs shall be required to retain a minimum of 20% share of the loan. Priority sector refers to economically weaker sections of the economy.

Money

RBI Ban didn’t deter these crypto-exchanges #Jugaad #

Remember the April circular from The Reserve Bank of India (RBI) barring Indian banks from dealing with crypto-currency exchanges? Not much of a dead-end for players who prefer back-end tunnels…