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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Money markets to remain open on all Saturdays - RBI
Posted Date : 29-Aug-2015 , 09:10:53 am | Posted By CASANSAAR
With government declaring the second and fourth Saturdays as public holiday for banks from September 1, RBI today said that all money market segments will continue to remain open on all Saturdays.
The forex market and government securities markets, along with all OTC derivative market...
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RBI says banks will work full day on first and third Saturdays
Posted Date : 29-Aug-2015 , 08:46:04 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has given the go-ahead for all banks—public, private, foreign and co-operative—to keep their branches closed on second and fourth Saturdays of the month, effective from 1 September.
In exchange for the perk, bank branches will have to be open for full...
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RBI asks Govt to speed up reforms in banking system
Posted Date : 28-Aug-2015 , 08:17:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday warned the Government that any delay in reform of the banking system in the country would lead to greater risk in the economy. “The current stress in the banking system suggests that the real economy will not wait for the banking system, and a slow p...
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RBI panel recommends conversion of UCBs with Rs 20,000 cr rev into regular banks
Posted Date : 24-Aug-2015 , 08:29:11 am | Posted By CASANSAAR
A Reserve Bank of India (RBI) panel has recommended conversion of Urban Cooperative Banks (UCBs), which have a revenue of more than Rs 20,000 crore into regular banks.
The recommendation has been made with the objective of allowing UCBs to grow and proliferate further for financial inclusion.
...
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RBI grants In-Principle approval to 11 payment banks applicants
Posted Date : 19-Aug-2015 , 11:12:38 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday granted in-principle approval to 11 payment banks applicants under the Guidelines for Licensing of Payments Banks.
RBI had received 41 applications for payments banks. The central bank has approved applications of Aditya Birla Nuvo Limited, Airte...
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RBI to transfer Rs 65,896 cr surplus to govt
Posted Date : 14-Aug-2015 , 07:48:37 am | Posted By CASANSAAR
Reserve Bank of India will transfer its surplus profit of 65,896 crore rupees to the Centre. This amount is 25 percent higher than previous year. RBI’s Central Board of Directors met in Mumbai yesterday and approved the transfer of surplus amount for the year ended June 30, 2015. The Reserve B...
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RBI allows banks to shift, merge or shut urban branches
Posted Date : 07-Aug-2015 , 08:01:05 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday allowed banks to shift, merge or close branches in urban areas without seeking its prior permission.
In a notification on its website, RBI said banks can “shift, merge or close all branches except rural branches and sole semi-urban branches at t...
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RBI warns banks against under-declaring bad loans
Posted Date : 06-Aug-2015 , 08:55:14 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has warned banks against under-declaring non-performing assets (NPAs) and on ever-greening of accounts to prevent them from slipping into default.
RBI governor Raghuram Rajan said, "We are increasingly turning towards taking action on such divergen...
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RBI eases norms for liquidity operations
Posted Date : 28-Jul-2015 , 08:49:54 am | Posted By CASANSAAR
In a bid to simplify and smoothen liquidity management, the Reserve Bank of India (RBI) will process all bids at its daily fixed repo and reverse repo auctions and the Marginal Standing Facility auctions using straight through processing (STP) whereby the bank will get instant credit or debit of fun...
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RBI eases norms for liquidity operations
Posted Date : 28-Jul-2015 , 08:48:56 am | Posted By CASANSAAR
In a bid to simplify and smoothen liquidity management, the Reserve Bank of India (RBI) will process all bids at its daily fixed repo and reverse repo auctions and the Marginal Standing Facility auctions using straight through processing (STP) whereby the bank will get instant credit or debit of fun...
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0 | Hits : 850
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FinMin releases revised draft of Indian Financial Code
Posted Date : 24-Jul-2015 , 09:09:30 am | Posted By CASANSAAR
In a move that may dilute powers of RBI chief, the government on Thursday proposed taking away his authority to veto the interest rate decision of the central bank’s monetary policy committee.
The revised draft of Indian Financial Code (IFC), released on Thursday by th...
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RBI sets up panel for action plan on financial inclusion
Posted Date : 15-Jul-2015 , 10:35:04 pm | Posted By CASANSAAR
The Reserve Bank of India has set up a committee to work out a five-year action plan to spread the reach of financial services to unbanked population. According to a press release issued by RBI today, the 14-member panel, to be headed by RBI executive director Deepak Mohanty, will review the existin...
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