It was a tough day in parliament for South Africa Reserve Bank Governor Lesetja Kganyakgo after members of the standing committee on finance rejected the Bank's "wishy-washy" reasoning for clearing President Cyril Ramaphosa in the Phala Phala saga.
The Reserve Bank on Thursday came out with guidelines on default loss guarantee DLG in digital lending, a move aimed at ensuring the orderly development of the credit delivery system.DLG is a contractual arrangement between a regulated entity RE and an entity meeting prescribed norms, under which the latter guarantees to compensate the RE, loss due to default up to a certain percentage of the loan portfolio specified upfront.
TThe Reserve Bank has given its approval to SBI Funds Management (SBIFML) to acquire up to 9.99 per cent stake in HDFC Bank, the private sector lender said on Wednesday. The approval has been granted with reference to the application made by SBIFML to RBI, HDFC Bank said in an exchange