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What is the story about?
The Reserve Bank of India (RBI) will soon launch a unified portal for better management of lead bank scheme data, Governor Sanjay Malhotra said, in a move aimed at improving transparency and efficiency in banking operations.
The portal is expected to streamline monitoring of bank-led initiatives, including lending to priority sectors and MSMEs, and will provide a centralised platform for data management and reporting.
Malhotra highlighted that the initiative forms part of a broader set of measures to strengthen financial stability and customer protection. The RBI also proposed to increase the collateral-free loan cap for MSMEs from ₹10 lakh to ₹20 lakh, issue draft guidelines on digital banking safety, and develop a framework to compensate customers for losses in small-value fraudulent transactions.
The unified portal is expected to enhance coordination between banks and the RBI, improve the effectiveness of credit delivery under the lead bank scheme, and support ongoing efforts to promote financial inclusion and strengthen the banking ecosystem.
Catch LIVE updates on RBI policy here
The portal is expected to streamline monitoring of bank-led initiatives, including lending to priority sectors and MSMEs, and will provide a centralised platform for data management and reporting.
Malhotra highlighted that the initiative forms part of a broader set of measures to strengthen financial stability and customer protection. The RBI also proposed to increase the collateral-free loan cap for MSMEs from ₹10 lakh to ₹20 lakh, issue draft guidelines on digital banking safety, and develop a framework to compensate customers for losses in small-value fraudulent transactions.
The unified portal is expected to enhance coordination between banks and the RBI, improve the effectiveness of credit delivery under the lead bank scheme, and support ongoing efforts to promote financial inclusion and strengthen the banking ecosystem.
Catch LIVE updates on RBI policy here
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