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    Recent Developments and Changes-CA 2

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    Aswitha Raj
    The document discusses recent developments and challenges in the Indian banking sector. Some key developments include linking loans to external benchmarks for transparency, introducing a 'Positive Pay' system to prevent cheque fraud, and establishing a Public Credit Registry to reduce bad loans. However, the industry still faces challenges such as increasing cases of fraud, complex products, and limited resources to resolve complaints. Going forward, efforts will continue to improve services through new policies, collaboration with fintech, and customer education.

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    Recent Developments and Changes-CA 2

    Uploaded by

    Aswitha Raj
    5 views4 pages
    The document discusses recent developments and challenges in the Indian banking sector. Some key developments include linking loans to external benchmarks for transparency, introducing a 'Positive Pay' system to prevent cheque fraud, and establishing a Public Credit Registry to reduce bad loans. However, the industry still faces challenges such as increasing cases of fraud, complex products, and limited resources to resolve complaints. Going forward, efforts will continue to improve services through new policies, collaboration with fintech, and customer education.

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    The document discusses recent developments and challenges in the Indian banking sector. Some key developments include linking loans to external benchmarks for transparency, introducing a 'Positive Pay' system to prevent cheque fraud, and establishing a Public Credit Registry to reduce bad loans. However, the industry still faces challenges such as increasing cases of fraud, complex products, and limited resources to resolve complaints. Going forward, efforts will continue to improve services through new policies, collaboration with fintech, and customer education.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    5 views4 pages

    Recent Developments and Changes-CA 2

    Uploaded by

    Aswitha Raj
    The document discusses recent developments and challenges in the Indian banking sector. Some key developments include linking loans to external benchmarks for transparency, introducing a 'Positive Pay' system to prevent cheque fraud, and establishing a Public Credit Registry to reduce bad loans. However, the industry still faces challenges such as increasing cases of fraud, complex products, and limited resources to resolve complaints. Going forward, efforts will continue to improve services through new policies, collaboration with fintech, and customer education.

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    © All Rights Reserved
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    of 4

    RECENT

    AND
    DEVELOPMENTS
    CHALLENGES
    This section will cover the latest
    policies and initiatives introduced by
    RBI to improve banking services and
    how they are addressing challenges
    facing the industry.
    Loans now linked to external benchmarks like repo
    rate or treasury bill yield for transparency.
    'Positive Pay' system introduced to prevent
    cheque fraud.
    RECENT Public Credit Registry (PCR) established to reduce
    bad loans.
    DEVELOPMENT Measures to promote financial inclusion like video
    KYC and simplified account opening.
    S Electronic trading platform launched for retail
    investors to buy/sell government securities.
    Rising cases of fraud and
    scams in the banking sector,

    CHALLENGE such as phishing, vishing, and


    identity theft.

    S the progress, the


    Despite Increasing complexity of
    banking services and products,
    banking industry faces several making it difficult for
    challenges. Let's take a look: customers to understand and
    access them.

    High workload and limited


    resources of the banking
    ombudsman, leading to delays
    in resolving complaints and
    disputes.
    FUTURE
    OUTLOOK
    To address the challenges, the banking sector is
    moving forward with a futuristic approach. Here's what
    to expect:

    Continued efforts by RBI to improve banking services and products


    through new policies and initiatives, such as the introduction of digital
    banks and blockchain technology
    Greater collaboration between banks and fintech companies to
    provide innovative services and improve customer experience
    Increased awareness and education programs for customers to stay
    vigilant and protect themselves from financial fraud and scams

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