Weak balance sheets, bad loans increase risks for banks: RBI
Posted Date : 24-Dec-2015 , 07:41:28 pm | Posted By CASANSAAR
The Reserve Bank of India expressed concern over high corporate leverage as bad loans from the country’s top corporations increased sharply between March and September, 2015.
“Corporate sector vulnerabilities and the impact of their weak balance sheets on the financial system need c...
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RBI extends deadline to exchange Pre-2005 notes to June 2016
Posted Date : 23-Dec-2015 , 09:51:44 pm | Posted By CASANSAAR
Reserve Bank on Wednesday extended the deadline for exchanging pre-2005 currency notes of various denominations, including Rs 500 and Rs 1,000, by another six months to June 30, 2016.
The Reserve Bank had, in June 2015, set the last date for public to exchange pre-2005 banknotes notes...
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Interest rate to be based on marginal cost of funds from April 1: RBI
Posted Date : 17-Dec-2015 , 10:11:42 pm | Posted By CASANSAAR
The RBI today said all banks will have to follow a new and uniform methodology from April next year to calculate base rate as per the marginal cost of funds. In a press release issued today The Reserve Bank said that apart from helping borrowers reap the benefit of lower rates, the step will also im...
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RBI constitutes a committee to check menace of Chit-fund and various financial irregularities
Posted Date : 12-Dec-2015 , 09:00:50 am | Posted By CASANSAAR
The Reserve Bank of India, RBI, has set-up a committee to check the menace of Chit-fund and various financial irregularities in the country.
This Committee will work in coordination with the State governments regularly. This was stated by the RBI Governor Mr. Raghuram Rajan in a press conference ...
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RBI bars 56 NBFCs from conducting business
Posted Date : 06-Dec-2015 , 10:16:29 am | Posted By CASANSAAR
The Reserve Bank of India has cancelled the certificate of registration of 56 non-banking finance companies (NBFCs), including ABNL, Future Ventures India and Bajaj Finserve.
Following the cancellation of registration certificate, these companies cannot transact in the business of an NBFC as la...
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RBI keeps repo rate unchanged at 6.75%, CRR at 4%
Posted Date : 02-Dec-2015 , 07:27:41 am | Posted By CASANSAAR
Reserve Bank of India governor, Raghuram Rajan today left the key policy interest rate, or repo rate unchanged, at 6.75 percent. In its bi-monthly monetary policy review, the RBI also kept the Cash Reserve Ratio unchanged, at 4 percent. The RBI governor said that uptick in retail inflation, excludin...
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RBI relaxed Foreign borrowing norms
Posted Date : 01-Dec-2015 , 08:00:28 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday approved a set of more liberal external commercial borrowing norms (ECB), allowing Indian companies to raise rupeere sources from overseas lenders, without incurring currency risks.
The new norms will be effective April 1 next year.
Such rupee-den...
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RBI allows foreign investors to buy bonds in default
Posted Date : 27-Nov-2015 , 10:15:49 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has allowed foreign portfolio investors (FPIs) to buy bonds that are either partly or fully in default, a move that gives existing investors an exit option and boosts the fledgling distress bond market in the country.
“FPIs which propose to acquire such non...
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RBI defers issue date of Sovereign Gold Bond to Nov 30
Posted Date : 26-Nov-2015 , 07:25:46 am | Posted By CASANSAAR
The Reserve Bank of India, RBI has shifted the issue date of Sovereign Gold Bond by four days to 30th November to enable their smooth uploading into RBI’s e-Kuber system. The decision has been taken in view of large number of applications being received by the banks and post offices for Sovere...
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RBI grants approval for TReDS; NPCI to be central unit for Bharat bill payment
Posted Date : 25-Nov-2015 , 08:19:02 am | Posted By CASANSAAR
Reserve Bank of India (RBI) on Tuesday granted an "in-principle" approval to three companies to set up and operate a new Trade Receivables Discounting System (TReDS) to be formed under the Payment and Settlement System (PSS) Act 2007.
A joint venture between the National Stock Exchange&...
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RBI opens door for banking M&As, allows individuals to own more than 10% in banks
Posted Date : 20-Nov-2015 , 08:40:05 am | Posted By CASANSAAR
The Reserve Bank of India RBI has thrown open the doors for mergers and acquisitions in the banking industry by signaling that it is open to persons owning more than 10 percent stake in a bank.
For the first time in decades the central bank has said that it could permit promoters, or invest...
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17,000 RBI staff to go on mass leave today
Posted Date : 19-Nov-2015 , 07:49:25 am | Posted By CASANSAAR
Around 17,000 employees of the Reserve Bank of India (RBI) will be on “mass casual leave” on November 19 to demand improvement in pensions and to protest against the Union Government’s move to dilute the central bank’s autonomy.
The strike in the form of mass leave is th...
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RBI staff plans mass leave on Nov 19 to protest against govt interference
Posted Date : 13-Nov-2015 , 08:46:53 am | Posted By CASANSAAR
Reserve Bank of India’s employees have proposed one-day mass leave on November 19 to protest what they termed as the government’s intention to curb the apex bank’s activity and intervening into monetary policies.
The United Forum of Reserve Bank Officers and Employees, the umb...
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RBI allows Internet Banking Facility for co-op banks
Posted Date : 08-Nov-2015 , 11:16:48 pm | Posted By CASANSAAR
As some of the State Cooperative Banks and DCCBs have requested for permission to offer Internet Banking facility, RBI has decided to allow StCBs and DCCBs to extend the facility of internet banking to their customers. So far these were not allowed to provide internet banking facilities to their cus...
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RBI imposes Rs 1 cr penalty on Dhanlaxmi Bank
Posted Date : 06-Nov-2015 , 08:50:28 am | Posted By CASANSAAR
The Reserve Bank has imposed Rs 1 crore penalty on Dhanlaxmi Bank for violation of Know Your Customer (KYC) and Anti Money Laundering (AML) norms.
It had issued a Show Cause Notice to the bank for not complying with KYC and AML guidelines “in respect of a current account under investigati...
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RBI issues operational guidelines for Sovereign Gold Bonds
Posted Date : 05-Nov-2015 , 08:34:26 am | Posted By CASANSAAR
Reserve Bank of India on Wednesday said multiple joint holders and nominees (of first holder) are permitted under the Sovereign Gold Bonds, 2015-16, scheme.
In its operational guidelines for the Bonds, the RBI said necessary details in this regard should be obtained by sched...
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Deepak Singhal Appointed Executive Director of RBI
Posted Date : 03-Nov-2015 , 08:18:47 am | Posted By CASANSAAR
The Reserve Bank has appointed Deepak Singhal as Executive Director with effect from Monday.
"Deepak Singhal has taken over as the new Executive Director at the Reserve Bank of India today, November 2, 2015," RBI said in a communication.
Prior to this, Mr Singhal was the Regional Dir...
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No fresh permission to foreign law firms for liaison office: RBI
Posted Date : 30-Oct-2015 , 08:30:42 am | Posted By CASANSAAR
The Reserve Bank today said it would not grant fresh or renewed permission to any foreign law firm to open a liaison office in the country.
The Supreme Court, by its interim orders of July 4, 2012 and September 14, 2015, in the case of the Bar Council of India vs A K Balaji and Others has d...
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RBI to notify sovereign gold bond scheme soon
Posted Date : 28-Oct-2015 , 08:26:23 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) will soon notify a sovereign gold bond scheme. This follows the notification of a gold monetisation scheme last week. The government will launch three new schemes: Apart from bonds, the others pertain to gold monetisation and selling of gold coins....
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RBI rejects plan for 100% FDI in banks
Posted Date : 26-Oct-2015 , 08:35:03 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has turned down a proposal from the government to allow up to 100% foreign direct investment (FDI) in banks, a move that may come as a damper for several private sector lenders such as ICICI Bank and HDFC Bank.
Sources said the RBI has not provided a clear reason t...
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RBI invites applications for Bharat Bill payment units
Posted Date : 21-Oct-2015 , 07:46:25 am | Posted By CASANSAAR
The Reserve Bank on Tuesday invited applications from entities engaged in bill payments and desirous to operate as Bharat Bill Payment System Operating Units.
The Bharat Bill Payment System (BBPS) will be an authorised payment system operated by National Payment Corporation of India (NPCI), RBI s...
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RBI allows 90% loan to value ratio for home loans up to Rs.30 lakh
Posted Date : 08-Oct-2015 , 08:49:49 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday increased the amount of loan banks can give against a property purchase and also reduced the so-called risk weights attached to home loans.
The decision is line with RBI’s statement on 29 September, when it reduced its key interest rate by half ...
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RBI can act as GST payment aggregator - Govt
Posted Date : 08-Oct-2015 , 07:44:57 am | Posted By CASANSAAR
A day after Prime Minister Narendra Modi expressed the hope on a national roll-out of goods and services tax (GST) from 2016-17, the finance ministry on Wednesday released three reports on the processes for the new indirect tax regime. These suggested that the Reserve Bank of India (RBI) c...
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RBI initiates corrective action on Indian Overseas Bank
Posted Date : 06-Oct-2015 , 07:36:31 am | Posted By CASANSAAR
Indian Overseas Bank (IOB) on Monday informed stock exchanges that the Reserve Bank of India (RBI) had initiated a “Prompt Corrective Action” on the lender to improve internal controls and consolidate its business activities.
“The directions given by RBI are for improv...
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RBI springs a surprise, cuts repo rate by 50 bps to 6.75%
Posted Date : 29-Sep-2015 , 03:18:38 pm | Posted By CASANSAAR
Ceding to impassioned calls by corporate India, not to mention Finance Minister Arun Jaitley, the Reserve Bank of India on Tuesday cut the repurchase, or repo, rate by a higher-than-expected 50 basis points to 6.75%, the lowest the key interest rate has been in four years.
T...
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RBI allows allowed banks to grant certain loans to their CEOs, Directors
Posted Date : 17-Sep-2015 , 08:07:35 am | Posted By CASANSAAR
The Reserve Bank of India has allowed banks to grant certain loans to their CEOs and Directors by doing away with the prior approval requirement. In a notification issued in Mumbai yesterday, the RBI said banks can give loans to CEOs and Whole Time Directors for purchasing of car, personal computer,...
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RBI cancels Sahara India Financial Corporation's NBFC registration
Posted Date : 15-Sep-2015 , 07:12:52 am | Posted By CASANSAAR
The Reserve Bank of India on Monday cancelled the certificate of registration of Sahara India Financial Corporation, a non-banking finance company, with effect from September 3.
With this mandate, the Lucknow-headquartered Sahara India Financial Corporation cannot conduct the business of a ...
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RBI brings 7 new features, numbering system to check fake currency
Posted Date : 07-Sep-2015 , 07:53:45 am | Posted By CASANSAAR
To check the menace of fake Indian currency, new notes, especially the Rs.1,000 and Rs.500 denominations, will have 7 new security features and a new numbering system, official sources said on Sunday.
The Reserve Bank of India subsidiary Bhartiya Note Mudran Pvt Ltd (BRBNMPL) and the state-run ...
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RBI issues guidelines for proposed plan to change how banks calculate lending rates
Posted Date : 02-Sep-2015 , 08:49:39 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) issued draft guidelines on Tuesday for its proposed plan to change how banks calculate their lending rates, which would make them more responsive to monetary policy actions but would likely be opposed by the sector.
Banks currently have a good degree of freedom i...
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RTGS facility will not operate on 2nd, 4th Saturdays: RBI
Posted Date : 02-Sep-2015 , 08:19:54 am | Posted By CASANSAAR
The Reserve Bank has said that the Real-time gross settlement - RTGS system will not be operated on second and fourth Saturdays with banks observing public holiday on those days. In a notification issued from Mumbai, RBI said that the system will operate for full days on working Saturdays of the mon...
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