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In 2006, Manish combined low-cost innovation aligned with customer ability and skill sets, the lack of infrastructure in India and the radical move by RBI to permit Business Correspondents to solicit and service customers, to successfully deliver banking services for the micro-segment (below poverty line population) along with business ...
The Reserve Bank of India (RBI) tended to this issue by creating the post of a banking correspondent (BC). [26] The role of a BC is to act as an interface between the bank and its customers in places where traditional banking is not feasible.
The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India". [1]
The preamble of the Reserve Bank of India describes the basic functions of the reserve bank as: [13]...to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex ...
On 17 July 2014, the RBI released the draft guidelines for payment banks, seeking comments for interested entities and the general public. [7] On 27 November, RBI released the final guidelines for payment banks. [8] In February 2015, RBI released the list of entities which had applied for a payments bank licence. There were 41 applicants. [9]
Financial regulation in India is governed by a number of regulatory bodies. [1] Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system.
Khan joined Reserve Bank of India in 1978. Between 2007 and 2008, Khan was the Director of Bank of Maharashtra and Punjab and Sind Bank.He has also been an Executive Director of RBI and Director of NABARD and later became the Principal of RBI's College of Agricultural Banking (CAB) at Pune, before getting appointed as the Regional Director of RBI, New Delhi. . [2]
Reserve Bank of India (RBI) (including the Banks Board Bureau) National Payments Corporation of India (NPCI) Deposit Insurance and Credit Guarantee Corporation (DICGC) Securities and Exchange Board of India (SEBI) Banking Codes and Standards Board of India (BCSBI); Forward Markets Commission (FMC) Insolvency and Bankruptcy Board of India (IBBI)