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News Category : RBI

RBI puts IDBI Bank, Indian Overseas Bank and UCO Bank under watch for spike in bad assets
Posted Date : 24-Mar-2017 , 08:41:05 am | Posted By CASANSAAR

The Reserve Bank of india has put four public sector lenders, including IDBI Bank and Indian Overseas Bank, under watch and advised them to stay off risky assets so that their financial health is not stressed further. While UCO Bank also figures in the list, the name of the fourth lender could not b...

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Category : RBI | Comments : 0 | Hits : 460

SC to Govt-Why can't RBI accept scrapped notes till March 31
Posted Date : 22-Mar-2017 , 09:15:33 am | Posted By CASANSAAR

The Supreme Court on Tuesday directed the Centre to file a response to a plea challenging the Reserve Bank of India’s (RBI) refusal to accept demonetized Rs500 and Rs1,000 notes post 31 December, 2016. A bench headed by Chief Justice of India (CJI) J.S. Khehar gave the government two weeks ...

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Category : RBI | Comments : 0 | Hits : 268

RBI issues draft master circular for revised PPI norms
Posted Date : 21-Mar-2017 , 07:59:16 am | Posted By CASANSAAR

The Reserve Bank of India has asked all prepaid payment licence holders who mostly issue mobile wallets to convert their minimum KYC (Know Your Customer) wallet accounts into full KYC account by June 30 of this year. It has also laid out minimum net worth criteria for wallet issuers to Rs 25 crore f...

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Category : RBI | Comments : 0 | Hits : 219

RBI lifts all cash withdrawal limits from today
Posted Date : 13-Mar-2017 , 07:50:01 pm | Posted By CASANSAAR

All limits on cash withdrawal from savings bank account imposed on November 8 after the demonetisation drive has been removed with effective from Monday as the Reserve Bank of India (RBI) had announced about it last month. Earlier, the central bank had removed all curbs on branch withdrawals from cu...

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Category : RBI | Comments : 0 | Hits : 255

NBFC cash loan against gold restricted to Rs 25,000 - RBI
Posted Date : 10-Mar-2017 , 07:22:30 am | Posted By CASANSAAR

Non-Banking Finance Companies (NBFCs) cannot lend more than Rs 25,000 in cash against gold, the Reserve Bank said today. The earlier provision for NBFC was that high value loans against gold of Rs 1 lakh and above must only be disbursed by cheque.  RBI reduced the amount to Rs 25,000 from th...

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Category : RBI | Comments : 0 | Hits : 314

RBI sets up panel to review cyber threats
Posted Date : 01-Mar-2017 , 07:54:00 am | Posted By CASANSAAR

The Reserve Bank announced setting up of the inter-disciplinary standing committee on cyber security to review the threats inherent in the existing and emerging technology. The 11-member committee will also study adoption of various security standards and protocols, interface with stakeholde...

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Category : RBI | Comments : 0 | Hits : 140

RBI enhances cash withdrawal limit from Savings account to Rs 50,000
Posted Date : 21-Feb-2017 , 06:45:28 am | Posted By CASANSAAR

Reserve Bank has enhanced the cash withdrawal limit from Savings Bank Account to 50,000 rupees from the existing 24,000 rupees from 20th Feb. RBI has also said that all limits on cash withdrawals from Savings Bank Account will be withdrawn from 13th of next month. The Reserve Bank of India (RBI) ...

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Category : RBI | Comments : 0 | Hits : 253

RBI lifts ATM withdrawal limits from Feb 1
Posted Date : 31-Jan-2017 , 09:12:08 am | Posted By CASANSAAR

In a big relief to people, RBI today announced lifting of restrictions on daily withdrawal of money from ATMs with effect from Wednesday. and has also withdrawn all limits on Current Accounts and overdraft accounts with immediate effect. In a circular to the banks, the RBI, however, said the week...

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Category : RBI | Comments : 0 | Hits : 374

Restructured Education loans not to be treated as NPAs - RBI
Posted Date : 24-Jan-2017 , 08:41:33 am | Posted By CASANSAAR

In order to encourage banks to provide education loans, RBI has said rescheduling of payment period of such loans due to unemployment of borrower will not be treated as restructured accounts for computing NPAs.  Banks may allow up to three spells of moratorium (not exceeding 6 months each) d...

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Category : RBI | Comments : 0 | Hits : 340

RBI enhances cash withdrawal limit from ATMs to Rs 10000 per day
Posted Date : 16-Jan-2017 , 11:28:26 pm | Posted By CASANSAAR

The Reserve Bank of India has raised the daily Cash withdrawal limit of 4500 rupees from ATMs to ten thousand rupees per card with immediate effect. However, the overall withdrawal limit from saving accounts will remain unchanged at 24 thousand rupees per week. The limit on withdrawal from curren...

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Category : RBI | Comments : 0 | Hits : 236

RBI extends period of enhanced Prepaid Payment Instruments limit
Posted Date : 31-Dec-2016 , 06:43:19 pm | Posted By CASANSAAR

Reserve Bank today extended the period of enhanced Prepaid Payment Instruments (PPI) limit of Rs 20,000 as part of efforts to promote digital payments. RBI said in a notification today that keeping in view that Bank is undertaking a comprehensive review of the guidelines and framework for PPI iss...

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Category : RBI | Comments : 0 | Hits : 152

RBI refuses to give reasons behind demonetisation
Posted Date : 29-Dec-2016 , 05:26:50 pm | Posted By CASANSAAR

 Why were Rs 1000 and Rs 500 notes demonetised by the government?  Fifty days after the government announced that these notes would cease to be legal tender, Reserve Bank of India feels that the reasons behind the sudden announcement cannot be made public. The monetary policy regulat...

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Category : RBI | Comments : 0 | Hits : 193

RBI extends loan repayment window to 90 days
Posted Date : 29-Dec-2016 , 08:33:04 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has asked lenders to provide borrowers 90 days for repayment of housing, car, farm and other loans worth up to 1 crore rupees, saying that the dispensation will apply to dues payable between 1st November and 31st December. In a notification, RBI said, on a review, it ...

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Category : RBI | Comments : 0 | Hits : 482

Govt names Viral V Acharya as RBI Deputy Governor
Posted Date : 28-Dec-2016 , 03:06:49 pm | Posted By CASANSAAR

Government today appointed Viral V Acharya, a professor of Economics in the Department of Finance at the New York University (NYU), new Deputy Governor at the Reserve Bank of India. The Appointments Committee of the Cabinet cleared the appointment for three years. He is taking over at a time w...

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Category : RBI | Comments : 0 | Hits : 236

RBI modifies circular on depositing over Rs 5000 in banks in old notes
Posted Date : 21-Dec-2016 , 08:27:46 pm | Posted By CASANSAAR

Scrapping the December 19 circular, the Reserve Bank of India today modified the old currency deposit rules and withdrew the 5000 rupee limit for depositing money in old currency notes for fully KYC (Know Your Customer) compliant accounts only. The RBI in a circular issued said the KYC complaint acc...

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Category : RBI | Comments : 0 | Hits : 293

RBI imposes restrictions on withdrawal from certain bank accounts
Posted Date : 16-Dec-2016 , 08:16:24 am | Posted By CASANSAAR

Tightening the noose around people who misused banking channels to park unaccounted money, the Reserve Bank of India (RBI) has imposed certain restrictions on withdrawal, if more than two lakh rupees has been deposited after November 9 in an account which has a balance of over five lakh rupees. ...

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Category : RBI | Comments : 0 | Hits : 2017

RBI wants CCTV footage from banks to spot currency hoarders post demonetisation
Posted Date : 14-Dec-2016 , 08:52:31 am | Posted By CASANSAAR

RBI has asked banks to preserve CCTV recordings of operations at bank branches and currency chests to help law enforcement agencies in identifying people engaged in hoarding of new notes post demonetisation.   The Reserve Bank, in a notification issued today, said banks should "preserve ...

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Category : RBI | Comments : 0 | Hits : 261

Banks get Rs 12.44 lakh crore in old notes till Dec 10 - RBI
Posted Date : 14-Dec-2016 , 08:46:23 am | Posted By CASANSAAR

RBI today said banks have garnered Rs 12.44 trillion (Rs 12.44 lakh crore) in banned notes till December 10, while they have issued Rs 4.61 trillion to them since the demonetisation drive began 35 days ago. "The old notes of Rs 500 and Rs 1,000, which have been returned to the Reserve Bank a...

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Category : RBI | Comments : 0 | Hits : 249

RBI denies reports of Axis Bank's licence cancellation
Posted Date : 13-Dec-2016 , 08:04:07 am | Posted By CASANSAAR

Following allegations of involvement in money laundering in the wake of demonetisation, the Reserve Bank on Monday quelled rumours stating that it has “not initiated any action” to cancel the licence of Axis Bank. Axis Bank had suspended 24 of its employees for allegedly breaking rule...

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Category : RBI | Comments : 0 | Hits : 221

RBI allows eKYC to use OTP for account opening
Posted Date : 09-Dec-2016 , 08:15:24 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has decided to allow one-time-pin (OTP) based e-KYC (electronic know your customer) for opening bank accounts. “A regulated entity (bank) may provide an option for one-time-pin (OTP) based e-KYC process for on-boarding of customers,” the RBI said in a n...

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Category : RBI | Comments : 0 | Hits : 633

RBI cautions against fake notifications on social media
Posted Date : 02-Dec-2016 , 08:32:01 am | Posted By CASANSAAR

In view of the numerous notifications being issued by the RBI post the November 8 demonetisation measure, India's central bank on Thursday cautioned people on fake instructions being published in its name by "unscrupulous elementson" over social media. "It has been reported t...

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Category : RBI | Comments : 0 | Hits : 835

RBI relaxes withdrawal limits for deposits made in legal tender
Posted Date : 29-Nov-2016 , 08:31:52 am | Posted By CASANSAAR

RBI has relaxed weekly withdrawal limits in cases where deposits are made in current legal tender notes and said, the decision has been taken as certain depositors are hesitating to deposit money in view of current limits on cash withdrawals. The withdrawal limit will increase by the amount of de...

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Category : RBI | Comments : 0 | Hits : 1072

RBI eases norms for wedding cash withdrawals
Posted Date : 22-Nov-2016 , 10:46:26 pm | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Tuesday decided to give some relief to those getting married before December 30. The central bank has eased the norms for getting money from the banks for the purpose of wedding by modifying its circular that was issued on November 21. The government has put a c...

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Category : RBI | Comments : 0 | Hits : 634

Small merchants can transfer up to Rs 50K via e- transactions till Dec 30 - RBI
Posted Date : 22-Nov-2016 , 10:34:36 pm | Posted By CASANSAAR

Small merchants can now transfer funds up to Rs 50,000 through semi-closed prepaid instruments (PPIs) linked to bank accounts. The balance in these instruments is limited to Rs 20,000. The above measures will be effective from November 21 to December 30, 2016, subject to review, the central bank ...

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Category : RBI | Comments : 0 | Hits : 278

RBI gives borrowers extra 60 days to repay home, car loans up to Rs 1 Cr
Posted Date : 22-Nov-2016 , 08:25:03 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has allowed both individuals and companies with loans up to Rs 1 crore an additional grace period of 60 days to repay their loans in the wake of the demonetization. This is applicable for ongoing loans where the dues are payable between November 1 and December 31, ...

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Category : RBI | Comments : 0 | Hits : 470

RBI sets stiff riders for Rs 2.5 lakh withdrawal for weddings
Posted Date : 22-Nov-2016 , 08:13:59 am | Posted By CASANSAAR

Wedding card, copies of advance payments made for booking marriage hall and caterers will be required for withdrawing Rs 2.5 lakh from own accounts, as per stringent conditions imposed by RBI on either of the parents to meet wedding expenses. Four days after the government announced special dispe...

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Category : RBI | Comments : 0 | Hits : 615

RBI proposes Islamic Window in Banks
Posted Date : 20-Nov-2016 , 07:05:48 pm | Posted By CASANSAAR

The Reserve Bank of India (RBI) has proposed opening of "Islamic window" in conventional banks for "gradual" introduction of Sharia-compliant or interest-free banking in the country. Both the Centre and RBI are exploring the possibility of introduction of Islamic banking for l...

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Category : RBI | Comments : 0 | Hits : 299

Centre moves SC to stay proceedings against demonetisation
Posted Date : 17-Nov-2016 , 05:26:56 pm | Posted By CASANSAAR

The Supreme Court today agreed to hear a fresh plea of Centre seeking a stay on the proceedings before various high courts and other courts except the apex court against its decision to demonetise high denomination currency notes of 500 and 1,000. The bench agreed to the contention of Attorney Ge...

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Category : RBI | Comments : 0 | Hits : 254

RBI raises withdrawal limit for current account to Rs 50,000
Posted Date : 15-Nov-2016 , 08:32:40 am | Posted By CASANSAAR

The Reserve Bank of India on Monday said that current account holders are allowed to withdraw up to Rs 50,000 in a week. Such tenders will be disbursed predominantly in Rs 2,000 denomination , said a circular from the RBI. The RBI has also said banks could deploy micro-ATMs, Bala Mitras, etc near...

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Category : RBI | Comments : 0 | Hits : 732

RBI Dismisses Rumours of GPS - enabled Rs 2,000 Notes
Posted Date : 09-Nov-2016 , 10:22:06 pm | Posted By CASANSAAR

The Reserve Bank of India has dismissed as “figments of imagination” rumours that a new series of Rs 2,000 will come with a GPS-chip that will help government track illegal money transactions. “Such a technology does not exist at the moment in the world, then how can we introduc...

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Category : RBI | Comments : 0 | Hits : 497

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