RBI imposes Rs 5 lakh fine on 16 banks for violation of norms
Posted Date : 01-Apr-2015 , 08:06:30 am | Posted By CASANSAAR
RBI has penalised 16 central co-operative banks with a fine of 5 lakh rupees each for non-adherence of the Know Your Customer and Anti-Money Laundering guidelines. These include Dumka Central Co-op. Bank Ltd (Jharkhand), Cuttack Central Co-op. Bank Ltd (Odisha) and Ajmer Central Co-op. Bank Ltd (Raj...
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RBI provides banks more flexibility to cover bad loan
Posted Date : 31-Mar-2015 , 07:37:49 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday allowed banks to divert a greater share of a mandatory contingency fund to provide for bad loans, a move that will improve lenders’ profitability and bolster their balance sheets.
RBI’s announcement sent banking stocks up 1-3%.
Under th...
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RBI proposes to cut banks
Posted Date : 29-Mar-2015 , 09:12:50 am | Posted By CASANSAAR
In a move to reduce risks in the banking sector and curb the rising bad loans, the Reserve Bank of India (RBI) has proposed to reduce the exposure of a bank to a business group to 25 per cent of its capital, down from the existing level of 55 per cent.
The RBI proposal has come at time when man...
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RBI : Designated Bank Branches to Remain Open on March 30, 31
Posted Date : 28-Mar-2015 , 08:19:01 am | Posted By CASANSAAR
With a view to providing greater convenience to taxpayers, it has been decided that all designated branches of agency banks and Reserve Bank of India (RBI) offices conducting government business will keep their counters open for full day on March 30.
Besides, these branches would have extended ...
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RBI changes public deposit rules for NBFCs
Posted Date : 28-Mar-2015 , 08:09:25 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday made revisions to the norms for non-banking finance companies (NBFCs).
These now say that if there is a downgrading of credit rating, below the minimum specified investment grade, an NBFC should immediately stop accepting public deposits.
The earlier r...
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RBI asks bankers not to outsource loan processing tasks
Posted Date : 24-Mar-2015 , 08:01:09 am | Posted By CASANSAAR
Concerned over the rising number of loan default cases, the RBI warned lenders against outsourcing their credit processing activities to third-party entities. “We encourage the banks that whatever is the non-core activity it should be outsourced. Let me tell you credit processing is not a...
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Govt plans to curb RBI role in financial markets
Posted Date : 07-Mar-2015 , 08:11:50 am | Posted By CASANSAAR
The Union Budget proposes to take away regulatory power of the Reserve Bank of India (RBI) over secondary market trading in government securities and move it to the Securities and Exchange Board of India (Sebi). This is in addition to ending RBI's role as the government's merchant banker by creating...
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RBI eases norms for home loans for up to Rs 10 lakh
Posted Date : 06-Mar-2015 , 08:05:38 am | Posted By CASANSAAR
Giving a boost to affordable housing, the RBI on Thursday eased the norms for home loans for up to Rs 10 lakh by allowing banks to include stamp duty and registration charges to the cost of a unit.
These charges form around 15 per cent of the cost of the house and place a burden on ...
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RBI cuts repo rate by 25 bps to 7.5%; keeps CRR unchanged
Posted Date : 04-Mar-2015 , 09:20:21 am | Posted By CASANSAAR
In a surprise move, Reserve Bank of India (RBI) on Wednesday slashed repo rate by 25 bps to 7.5 per cent from 7.75 per cent earlier. Consequently, the reverse repo rate under the LAF stands adjusted to 6.5 per cent. The central bank kept the cash reserve ratio ( CRR) of scheduled banks unchange...
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RBI revises priority sector lending norms
Posted Date : 03-Mar-2015 , 09:06:41 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) revised guidelines for lending to the priority sector on Monday, with loans to medium enterprises, sanitation and renewable energy sectors coming under the ambit of priority sector lending.
"The target for lending to the redefined priority sector i...
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RBI allows flexibility in raising foreign currency funds
Posted Date : 14-Feb-2015 , 09:01:45 am | Posted By CASANSAAR
Eliminating currency risk for borrowers planning to raise foreign currency funds has turned a tad easier.The Reserve Bank of India has allowed greater flexibility for them in hedging offshore exposure by way of permitting residents to re-book any swap or derivative contract."It has been decided that...
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RBI asks lenders to makechecks on export advances
Posted Date : 10-Feb-2015 , 08:03:37 am | Posted By CASANSAAR
The Reserve Bank of India has asked banks to ensure they comply with rules regarding monitoring of export advances that flow into India, saying lenders needed to ensure that outbound shipments are carried out within the stipulated timeframe.
“Banks should exercise proper due diligence...
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RBI releases Names of Applicants of Small Finance Banks and Payments Banks
Posted Date : 05-Feb-2015 , 08:24:23 am | Posted By CASANSAAR
Government-owned Department of Posts or India Post, Tech Mahindra, NSDL and NSE Strategic Investment Corporation are the surprise applicants for a payment bank licence, apart from the already known big names like Mukesh Ambani-owned Reliance Industries, Bharti Airtel’s Airtel M Commerce Servic...
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RBI allows banks to offer deposit schemes which can't be broken prematurely
Posted Date : 05-Feb-2015 , 08:02:18 am | Posted By CASANSAAR
Depositors who place their savings with a bank earn differential rates of interest based on the size of deposit — less than Rs 1 crore and above Rs 1 crore — and on the tenor of the deposit — the longer the period, more the interest. Additionally deposits up to Rs 1 crore can be wi...
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RBI Increases Limit for Foreign Spending to $250000/Person
Posted Date : 04-Feb-2015 , 08:51:46 am | Posted By CASANSAAR
The Reserve Bank of India on Tuesday increased the amount Indians can invest or spend abroad in foreign exchange without seeking its permission. Individuals can now buy property abroad, hold shares or debt instruments, or any other assets or purchase gifts up to limit of $250,000 (Rs 1.5 crore) per ...
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RBI keeps repo rate steady at 7.75 pct, cuts Banks SLR by 50 bps
Posted Date : 03-Feb-2015 , 11:21:51 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday held interest rates steady at 7.75 per cent after easing monetary policy just three weeks ago, leaving its next move probably until after the government presents its annual budget at the end of this month.
Instead, the Reserve Bank of India cut the...
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Give names of unclaimed deposit a/c on website: RBI to banks
Posted Date : 03-Feb-2015 , 07:17:46 am | Posted By CASANSAAR
In a bid to help people who have unclaimed deposits lying with banks, RBI today directed banks to prominently display such account holders' names on the websites and provide them with a "Find" option to locate the information easily.
Banks should complete the action by March 31,...
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RBI constitutes high level panel on urban cooperative banks
Posted Date : 31-Jan-2015 , 08:38:31 am | Posted By CASANSAAR
RBI has constituted a High Powered Committee under the Chairmanship of Deputy Governor R Gandhi to re-examine and recommend appropriate set of businesses, size, conversion and licensing terms for the Urban Cooperative Banking Sector.
The committee will examine the line of businesses that UCBs may b...
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Reserve Bank of India asks banks to ease norms for individual borrowers
Posted Date : 28-Jan-2015 , 08:23:39 pm | Posted By CASANSAAR
To ensure hassle free credit to small borrowers, the RBI today directed banks to do away with the practice of obtaining ‘No Due Certificate’ from individual loan takers.
The RBI said it received complaints from borrowers as banks were refusing to grant loans without ‘No Du...
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RBI eases norms for revamping ECBs
Posted Date : 24-Jan-2015 , 08:14:56 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has simplified the existing procedure for rescheduling/restructuring of external commercial borrowings (ECBs). It also delegated more powers to banks to deal with cases related to change in draw-down and repayment schedules.
Under the simplified procedure, th...
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Banks to pay fine if they exceed required remit period: RBI
Posted Date : 22-Jan-2015 , 09:09:41 am | Posted By CASANSAAR
Banks will be liable to pay penalty for failing to remit government fund within the required time frame, the Reserve Bank said today. As per the instructions of the Controller General of Accounts, the Ministry of Finance, banks are required to adhere to norms for payment of government revenue t...
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RBI cautions against foreign Investment Tourists
Posted Date : 19-Jan-2015 , 05:14:10 pm | Posted By CASANSAAR
The Reserve Bank of India official today cautioned against foreign "investment tourists" in debt markets, highlighting concerns about short-term flows.
The comments from G. Padmanabhan, executive director at the RBI, came amid expectations that India will allow Euroclear settlements for gov...
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RBI urges Banks' Auditors to improve monitoring
Posted Date : 15-Jan-2015 , 05:14:26 pm | Posted By CASANSAAR
RBI's deputy governor S.S. Mundra urged audit committees at domestic lenders to better monitor potential risks, including in loan assessments and in asset quality, to help improve the health of the banking system. Mundra added recent inspections by the central bank had found recurrenc...
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RBI slashes repo rate by 25 bps to 7.75 per cent with immediate effect
Posted Date : 15-Jan-2015 , 09:03:08 am | Posted By CASANSAAR
The Reserve Bank of India today cut the repo rate by 25 basis points to 7.75% with immediate effect. One basis point is one-hundredth of a percentage point.
The CRR remains unchanged at 4%.
The move comes after WPI inflation for December came in at 0.11%, margin...
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0 | Hits : 1064
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RBI Eases Forex Hedging Norms for Exporters, Importers
Posted Date : 15-Jan-2015 , 08:02:26 am | Posted By CASANSAAR
The Reserve Bank of India on Wednesday relaxed the norms for forex hedging for exporters and importers by allowing them to book forward foreign exchange contracts in excess of 50 per cent of the eligible limit.
"It has now been decided that, henceforth, banks may permit aggregate outstandin...
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RBI sets up fund to educate Bank Depositors
Posted Date : 12-Jan-2015 , 08:30:46 am | Posted By CASANSAAR
RBI has put in place a new mechanism for grant of financial assistance to the NGOs and other entities seeking to take up activities related to education and awareness of bank depositors. Those eligible for such financial grants would include institutions, organisations and associations such as ...
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0 | Hits : 972
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Govt stake dilution not sufficient for Basel III: RBI
Posted Date : 10-Jan-2015 , 05:15:42 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today said dilution of government holding in public sector banks (PSBs) may not be sufficient for meeting Basel III capital adequacy norms.
“Recently, it has been reported that the Government of India is contemplating scaling down their holdings in PSBs...
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0 | Hits : 887
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RBI revises leverage ratio, disclosure norms for banks
Posted Date : 09-Jan-2015 , 08:52:04 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) Thursday revised the guidelines for leverage ratio framework under the Basel III and the relevant disclosure norms.
The central bank said banks operating in India are required to make disclosure of the leverage ratio and its components from the date...
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Need to clean up bad debts in banks within a year: RBI
Posted Date : 04-Jan-2015 , 10:15:47 am | Posted By CASANSAAR
Reserve Bank Governor Raghuram Rajan on Saturday made a strong case for cleaning up bad debts of banks and restructure other possible NPAs within a year to put the economy back on track.
He also favoured channelising "full savings" of the households into the financial system so that requisi...
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0 | Hits : 896
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RBI directs payment firms to display company name in products
Posted Date : 02-Jan-2015 , 09:12:38 pm | Posted By CASANSAAR
Reserve Bank has directed entities offering services such as e-wallets, smart cards and White Label ATMs to prominently display their company name in products to ensure transparency.
"All the information available to the public regarding the product, whether as advertisements, on website, applicati...
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