RBI

Accordingly, the company was found to be in violation of directions issued "on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs and Fair Practices Code (FPC) for applicable NBFCs... and a specific direction to the company to ensure full compliance with FPC in letter and spirit", said an RBI statement.

A PoS infrastructure can have physical or digital features to allow online payments for goods or services. "Over the years, payments ecosystem in the country has evolved with a wide range of options such as bank accounts, mobile phones, cards, etc," the RBI said in a statement.

A recent report by the Reserve Bank of India (RBI), cited that gross NPA ratio as well as the ratio of restructured standard assets to total funded amounts emanating from larger borrowal accounts in the public sector banks have gone down. At the end of September 2020, large borrowal accounts constituted 79.8 per cent of NPAs and 53.7 per cent of total loans, it said.

India's forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF). On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $253 million to $537.474 billion.

On a YoY basis, the country's Balance of Payment status was in a deficit of $7.6 billion during Q2FY20. However, the data showed an increase in net services' receipts both sequentially and on a YoY basis, primarily on the back of higher net earnings from computer services.

As per the report on 'Trend and Progress of Banking in India 2019-20', the SCBs' gross non-performing assets (GNPA) ratio declined from 9.1 per cent at end-March 2019 to 8.2 per cent at end-March 2020 and further to 7.5 per cent at end-September 2020.

The paper, published by the RBI's Department of Economic and Policy Research, noted that central to monetary policy is the concept of 'Trend Inflation' to which actual inflation outcomes are expected to converge after short-run fluctuations die out.

According to an Ind-Ra report, the new move will help government-owned NBFCs to strengthen their balance sheets by improving their leverage ratios and creating a buffer and surplus for fresh lending.

Accordingly, the Centre in consultation with the Reserve Bank of India will allow a discount of Rs 50 per gram from the issue price to investors using the digital medium for a subscription.

The economy dipped by a record 23.9 per cent in the June quarter but the contraction narrowed down to 7.5 per cent in the September quarter.