Government decides to issue Sovereign Gold Bonds Scheme 2016 -17–Series III
Posted Date : 20-Oct-2016 , 10:09:11 pm | Posted By CASANSAAR
Government decides to issue Sovereign Gold Bonds Scheme 2016 -17–Series III; Applications for the bond to be accepted from October 24, 2016 to November 02, 2016 and the Bonds will be issued on November 17, 2016.
Government of India, in consultation with the Reserve Bank of I...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 353
|
 |
RBI issues guidelines for small and payments banks
Posted Date : 07-Oct-2016 , 07:47:34 am | Posted By CASANSAAR
The Reserve Bank of India on Thursday issued separate operating guidelines for payments banks and small finance banks in view of their differentiated nature of business and focus on financial inclusion. The RBI has granted in-principle approvals to 11 payments banks (August 2015) and 10 small financ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 328
|
|
RBI cuts repo rate by 25 basis points to 6.25% from 6.50%
Posted Date : 04-Oct-2016 , 08:40:27 pm | Posted By CASANSAAR
The Reserve bank of India has reduced the key policy rate or the repo rate by 25 bps to 6.25 per cent in the fourth bimonthly policy review announced on Tuesday.
This is the first rate decision made by the Monetary Policy Committee (MPC) of the bank, which is headed by RBI Governor Urjit Patel an...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 244
|
|
Banks can publish photos of declared wilful defaulters only - RBI
Posted Date : 30-Sep-2016 , 03:06:25 pm | Posted By CASANSAAR
RBI on Thursday said lenders can publish photographs of only those borrowers in newspapers who have been declared wilful defaulters as per the central bank’s guidelines.
While asking the banks not to indiscriminately publish photographs of defaulters and guarantors in newspapers, it directe...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 317
|
|
Govt invites applications for RBI Deputy Governor’s post
Posted Date : 30-Sep-2016 , 08:26:16 am | Posted By CASANSAAR
The Government has invited applications for the post of Deputy Governor in the Reserve Bank of India.
Going by the eligibility criteria listed out in the notification, which calls for people with work experience in public administration or with Indian/ international public financial institution t...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 305
|
|
Banks can accept tax dues in cash under IDS: RBI
Posted Date : 09-Sep-2016 , 08:15:56 am | Posted By CASANSAAR
The Reserve bank of India (RBI) on Thursday directed banks to accept tax dues in cash under the domestic black money declaration scheme which closes on September 30. Under the Income Declaration Scheme, 2016, which came into effect on June 1, one can come clean by paying tax, penalty and cess totall...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 344
|
|
Urjit Patel assumes charge as new RBI Governor
Posted Date : 06-Sep-2016 , 07:37:39 am | Posted By CASANSAAR
Urjit Patel who took over as the 24th Governor of Reserve Bank will have a tough task in maintaining the legacy of his predecessor, Raghuram Rajan, and balance the need to contain inflation without hurting growth.
Patel assumed charge effective September 4, 2016, after serving as deputy governor ...
Continue Reading...
Category :
RBI |
Comments :
1 | Hits : 515
|
|
RBI allows banks to sell stressed assets to NBFCs, other lenders
Posted Date : 02-Sep-2016 , 08:13:11 am | Posted By CASANSAAR
Banks can now sell their stressed assets to other lenders, non-banking financial companies and financial institutions in addition to distressed-asset buyers, a move the banking regulator said will speed up the resolution of bank bad loans.
The Reserve Bank of India (RBI), in guidelines issued on ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 509
|
|
RBI Forecasts 7.6 percent GDP growth for this fiscal
Posted Date : 30-Aug-2016 , 11:37:18 am | Posted By CASANSAAR
Reserve Bank of India has said that the near-term growth outlook for India seems brighter than last fiscal and the economy is likely to expand at 7.6 per cent in 2016-17. In its Annual Report 2015-16 released yesterday, RBI said a better than anticipated agricultural performance and the possibility ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 197
|
|
RBI asks banks to provide loans to women self-help groups in rural areas at 7% per annum
Posted Date : 26-Aug-2016 , 05:49:47 pm | Posted By CASANSAAR
RBI has asked banks to provide loans to women self-help groups in rural areas at 7 per cent per annum, as per the government's revised guidelines for the current financial year.
The Reserve Bank said in a notification that all women self-help groups (SHGs) will be eligible for interest ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 275
|
|
Customers will have zero liability in case of online fraud, says RBI
Posted Date : 12-Aug-2016 , 02:25:13 pm | Posted By CASANSAAR
Amid rise in cases of unauthorised electronic banking transactions, RBI Thursday proposed that customers will have no or zero liability in case of fraud being committed because of bank's negligence or third breach.
However, "where customer's own involvement is estab...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 457
|
|
Certification must for bank staff selling retail products - RBI
Posted Date : 12-Aug-2016 , 07:38:48 am | Posted By CASANSAAR
RBI on Thursday said bank employees involved in marketing third party retail products and wealth management services "must necessarily undergo" an appropriate certification process to check mis-selling and minimise customer complaints.
In cases where other financial sector regulators ha...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 4763
|
|
RBI launches 'Sachet' portal to check illegal money collection
Posted Date : 08-Aug-2016 , 07:38:20 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) launched a portal to curb illegal collection of money by companies.
This website will enable public to obtain information regarding entities who accept deposits, lodge complaints and also share information regarding illegal acceptance of deposits, said&...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 878
|
|
RBI reviewing its policy to promote cashless transaction: Govt
Posted Date : 06-Aug-2016 , 06:51:41 am | Posted By CASANSAAR
The government today said, Reserve Bank has been reviewing its policy to promote cashless transaction by electronic mode, which is safe, secure and convenient.
In a written reply in Lok Sabha, the Minister of State for Finance Santosh Kumar Gangwar said, according to RBI there has been a ma...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 333
|
|
RBI starts portal to curb firms' illegal money pooling
Posted Date : 04-Aug-2016 , 07:33:43 pm | Posted By CASANSAAR
To curb illegal and unauthorised pooling of funds by unscrupulous firms, Reserve Bank today launched a website, which will help people obtain information about entities allowed to collect deposits.
Launching the portal -- sachet.rbi.org.in -- RBI Governor Raghuram Rajan said that initiating quick...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 367
|
|
RBI releases guidelines for on-tap bank licence
Posted Date : 01-Aug-2016 , 09:45:23 pm | Posted By CASANSAAR
Reserve Bank of India (RBI) on Monday released the much-awaited guidelines for 'on tap' universal banking licence, but excluded large industrial houses as eligible entities from the purview, though they can invest in banks up to 10 per cent.
As per the "Guidelines for 'on tap'...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 365
|
|
RBI to monitor banks on customer rights
Posted Date : 22-Jul-2016 , 07:44:15 am | Posted By CASANSAAR
Reserve Bank will shortly start monitoring banks on issues relating to customer rights in five broad areas, a senior official said today.
The areas on which the regulator will be conducting surveys and supervision at various banks are – right to privacy, right to fair treatment & transp...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 449
|
|
RBI to make funds transfer via smartphones easier
Posted Date : 19-Jul-2016 , 07:25:01 am | Posted By CASANSAAR
RBI said it will become easier in coming weeks for people to transfer funds between bank accounts through their smartphones.
Speaking at the IDRBT Banking Technology Excellence Awards function, RBI Governor Raghuram Rajan also made a case for tax benefits to merchants for promoting digital transa...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 410
|
|
RBI asks banks to exchange upto 20 soiled notes free of charge
Posted Date : 16-Jul-2016 , 09:22:52 am | Posted By CASANSAAR
In an effort to improve customer service, RBI today asked banks to exchange up to 20 pieces of soiled currency notes with a maximum value of Rs 5,000 over the counter free of charge.
However, if the number of notes to be exchanged is more than 20, banks can levy service charge.
The...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 611
|
|
RBI releases framework on payments systems
Posted Date : 25-Jun-2016 , 09:28:07 am | Posted By CASANSAAR
Reserve Bank of India (RBI) has released its much awaited 'Vision-2018' document yesterday. The ‘Payment and Settlement Systems in India: Vision-2018’ aims at building best of class payment and settlement systems for a ‘less-cash’ India and ensuring access of mobile b...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 522
|
|
RBI sets up fraud monitoring cell
Posted Date : 23-Jun-2016 , 08:37:51 am | Posted By CASANSAAR
Lauding the efforts taken by the government to take action against wilful defaulters, RBI Governor Raghuram Rajan today said the central bank has created a monitoring cell for early reporting of frauds to investigative agencies.
"We should send the message that no one can get away, and...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 597
|
|
NSEL scam: Gujarat high court issues notice to RBI
Posted Date : 16-Jun-2016 , 08:26:53 am | Posted By CASANSAAR
The Gujarat high court on Tuesday issued a notice to the Reserve Bank of India (RBI), asking why the National Spot Exchange Ltd was allowed to run a payment and settlement system without authorization. The court has also asked RBI to initiate action in the matter.
The notice follows a...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 652
|
|
CBI to hire tax experts from RBI, other financial institutions
Posted Date : 13-Jun-2016 , 08:36:54 am | Posted By CASANSAAR
CBI is looking for tax experts from RBI and other financial institutions to help it in probing high-profile cases including multi-crore rupees chit-fund scams and alleged loan fraud by businessman Vijay Mallya.
The agency, which is facing acute staff shortage, has written to all central gov...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 749
|
|
Pay Income Tax dues in advance to avoid last-minute rush - RBI
Posted Date : 08-Jun-2016 , 10:17:17 pm | Posted By CASANSAAR
The Reserve Bank of India has asked tax-payers to remit their income-tax dues in advance to minimise inconvenience.
It has said that last minute rush for paying tax creates problems for both the RBIand the public. “To obviate the inconvenience involved, assessees are advised in their o...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 384
|
|
RBI review unearths Rs 2,41,000 cr bad loans in last 6 months of FY16
Posted Date : 04-Jun-2016 , 07:16:55 am | Posted By CASANSAAR
Banks have reported a 69 per cent spike in non-performing assets in the last two quarters following the asset quality review ordered by the Reserve Bank of India (RBI) and fresh slippages in restructured loans.
Gross NPAs of lenders have surged by a whopping Rs 2,41,000 crore in just six months &...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 424
|
|
RBI's AQR shows banks were hiding nearly half of their NPAs
Posted Date : 26-May-2016 , 07:20:28 am | Posted By CASANSAAR
Reserve Bank of India (RBI) Governor Raghuram Rajan’s insistence on a “deep surgery” to help banks regain health has uncovered that nearly half of the lenders’ stressed assets were not reported.
RBI had made banks go through an asset quality review (AQR) to clean up their ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1093
|
|
RBI authorises 29 agency banks to accept payments of I-T dues
Posted Date : 18-May-2016 , 07:24:05 am | Posted By CASANSAAR
RBI has authorised 29 agency banks to accept payments of Income Tax dues. In a press release issued from Mumbai on Monday, RBI has appealed tax payers to remit their income tax dues sufficiently in advance of the due date. In order to minimize the hassle, tax payers can also use the facility of onli...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 667
|
|
RBI tweaks shareholding norms for private sector banks
Posted Date : 13-May-2016 , 07:08:56 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today issued new guidelines on ownership in private sector banks by bundling shareholding patterns into two broad categories of individuals (natural persons) and legal entities/institutions, but retained the cap on foreign ownership at 74 per cent.
The ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 289
|
|
No negative balances in savings accounts: RBI
Posted Date : 11-May-2016 , 08:33:29 am | Posted By CASANSAAR
Negative balances in savings accounts due to penalty charges are now history following a directive from the central bank. The RBI has asked banks to stop imposing charges for non-maintenance of minimum balance once the balance in a savings account touches zero.
Although the norms came into effect...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1899
|
|
RBI to amend forex management rules
Posted Date : 10-May-2016 , 09:18:49 am | Posted By CASANSAAR
In a move aimed at contributing to the ease of doing business, the Reserve Bank of India on Monday said it proposes to amend the Foreign Exchange Management Regulations to mandate that foreign investment by non-residents on repatriation basis can be made in equity, debt and any other appro...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 7365
|
|
|
