RBI eases rules for foreign and NRI promoters to raise stake in listed firms
Posted Date : 07-Sep-2013 , 08:26:59 am | Posted By CASANSAAR
In a move to quicken dollar inflows, the Reserve Bank of India (RBI) has changed the rules to make it easier for foreign and NRI promoters to raise stake in listed Indian companies.Offshore parents of such local companies can now freely purchase shares by using the services of registered I...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 221
|
 |
RBI asks Kerala temples how much gold they have
Posted Date : 06-Sep-2013 , 08:32:46 am | Posted By CASANSAAR
Temple boards in Kerala have received a letter from the Reserve Bank of India (RBI) seeking details of the stock of gold in their possession, a temple board official said today.
Speaking to IANS, a top official of the famous Guruvayoor Devasom Board said a letter had been received from the RBI seek...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 586
|
|
RBI allows cash withdrawal of upto Rs 1,000/day via prepaid cards
Posted Date : 06-Sep-2013 , 08:06:38 am | Posted By CASANSAAR
The Reserve Bank today allowed cash withdrawals of up to Rs 1,000 a day through prepaid cards, including gift cards, issued by banks from point of sale terminals, a move aimed at enhancing customer convenience in using plastic money. As of now, this facility was available only to debit cards is...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 579
|
|
Raghuram Rajan to take over as RBI governor
Posted Date : 04-Sep-2013 , 08:46:13 am | Posted By CASANSAAR
Raghuram Govind Rajan, chief economic advisor in the finance ministry, is scheduled to take over as governor of the Reserve Bank of India (RBI) Wednesday.
At 50, Rajan will be among the youngest to occupy the high office at Mint Street in Mumbai, where he takes over from incu...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 332
|
|
RBI plans to request Tirupati, Shirdi shrines to sell their gold pile to rescue Re fall
Posted Date : 31-Aug-2013 , 09:36:23 am | Posted By CASANSAAR
With all efforts to arrest the rupee's slide coming to a naught, policymakers now plan to knock on the doors of temples — from Tirupati to Shirdi — seeking a boon to feed Indians' fetish for gold without importing it.The Reserve Bank of India, which has been making gold im...
Continue Reading...
Category :
RBI |
Comments :
1 | Hits : 800
|
|
PM for new thinking on RBI's monetary policy
Posted Date : 18-Aug-2013 , 09:00:25 am | Posted By CASANSAAR
Prime Minister Manmohan Singh on Saturday called for evolving a fresh thinking on Reserve Bank of India (RBI)’s monetary policy in a globalised economy and dealing with the constraints of its macro economic policies.
“The time has come to look at the possibilities and limitation...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 151
|
|
Raghuram Rajan appointed as next RBI Governor for three years, to succeed Subbarao
Posted Date : 06-Aug-2013 , 10:55:37 pm | Posted By CASANSAAR
Raghuram Rajan, currently the Chief Economic Advisor to the government of India was on Tuesday appointed the Reserve Bank of India's (RBI) governor for three years.Rajan will replace D Subbarao, who completes his five-year term on September 4, and will be the 23rd Governor of the central bank."Prime...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 443
|
|
RBI's liquidity tightening threatens to take toll on banks' asset quality
Posted Date : 05-Aug-2013 , 08:11:51 am | Posted By CASANSAAR
The Reserve Bank of India's recent liquidity tightening measures, which threaten to take a fresh toll on banks' asset quality, come at a time when commercial banks led by the public sector brigade were beginning to see visible results in their crack down on runaway non-performing loans.
For...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 178
|
|
RBI maintains status quo; leaves rates unchanged
Posted Date : 30-Jul-2013 , 11:17:37 am | Posted By CASANSAAR
Reserve Bank on Tuesday kept the key interest rates unchanged in its first quarter monetary policy review with focus on stabilising the domestic currency and containing the current account deficit.
Presently, the short-term lending (repo) rate, or the rate at which RBI lends to banks, is at 7.25 pe...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 279
|
|
RBI unlikely to change rates, EMIs won't rise
Posted Date : 30-Jul-2013 , 08:16:34 am | Posted By CASANSAAR
Interest rates are not likely to rise, finance minister P Chidambaram said on Monday, a day ahead of the Reserve Bank of India's monetary policy review, which, among other things, nudges banks to raise, hold or cut interest rates on deposits and loans.
The implication: if RBI governor D Su...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 232
|
|
RBI may consider fraud registry to deal with financial crimes
Posted Date : 27-Jul-2013 , 08:39:50 am | Posted By CASANSAAR
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector. "Establishment of a Fraud Registry on the lines of credit information bureau could be considered by the (central bank)," said&...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 327
|
|
RBI directs banks to collect EMIs through electronic transfers
Posted Date : 25-Jul-2013 , 08:29:08 am | Posted By CASANSAAR
Auto and home loan borrowers need not pay post-dated cheques towards EMIs as RBI has directed banks to collect monthly instalments through electronic mode wherever the facility for such fund transfer is available.
Banks are advised that no fresh or additional post-dated cheques (PDC) or equated mon...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 419
|
|
RBI relaxes KYC norms for banks on data updation
Posted Date : 24-Jul-2013 , 08:19:52 am | Posted By CASANSAAR
Banks will now be required to update KYC data only once in two years for high risk entities, and just once in 10 years for low-risk clients, RBI said today. "The issue has been reviewed in the light of practical difficulties/constraints expressed by bankers/customers in obta...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 403
|
|
RBI imposes fresh restrictions on gold imports to stem rupee slide
Posted Date : 23-Jul-2013 , 08:11:43 am | Posted By CASANSAAR
he Reserve Bank of India has made gold imports for domestic consumption tougher and forced exporters to bring home their dollar earnings quicker in yet another attempt to shore up the currency that's hurtling toward the Rs 60 mark to the US dollar again. If any importer of g...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 354
|
|
RBI starts scrutiny of nearly 3,000 private finance companies
Posted Date : 22-Jul-2013 , 08:41:43 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has started scrutiny of nearly 3,000 companies which could be carrying out non-banking finance operations without requisite registration, in the wake of concerns about their actual business activities.
The central bank's move comes against the b...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 412
|
|
Now, pay service tax on parking in south Delhi
Posted Date : 17-Jul-2013 , 07:00:46 am | Posted By CASANSAAR
Parking in any south Delhi area is going to get more expensive, albeit marginally. The reason: You will have to pay a 12.36 per cent service tax every time you park your car in a municipal parking.
This means, after rounding off your tax, if you paid Rs. 10 for 10 hours earlier, you...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 449
|
|
RBI penalises 22 banks for violating KYC norms, SBI fined Rs 3 cr
Posted Date : 15-Jul-2013 , 08:47:29 pm | Posted By CASANSAAR
The Reserve Bank of Indiaimposed penalties on 22 banks for violating rules for customer identification and anti-money laundering, ranging from Rs 50 lakh to around Rs 3 crore, it said on Monday.
RBI has imposed a total fine of Rs 49.5 crore, including SBI,P...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 535
|
|
No need to round off cheque amount, says RBI
Posted Date : 15-Jul-2013 , 07:20:20 am | Posted By CASANSAAR
If your bank has been refusing to accept cheques for amounts that include fraction of a rupee, it's against the rules and the bank should be penalised. In an internal circular issued earlier, the Reserve Bank of India (RBI) had warned that banks which refuse to accept cheques on such grounds from cu...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 625
|
|
RBI warns banks to strictly follow KYC norms or face action
Posted Date : 13-Jul-2013 , 07:10:50 am | Posted By CASANSAAR
Concerned over violation of anti-money laundering norms by banks, the RBI on Friday warned them to meticulously follow its instructions with regard to walk-in customers while selling insurance, mutual fund, gold and other products above Rs 50,000 or face action.
"It is reiterated that banks...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 300
|
|
RBI may ask banks to classify floating provisions as NDTL
Posted Date : 12-Jul-2013 , 08:43:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) is likely to ask banks to classify floating provisions as net demand and time liability (NDTL) - a move that is expected to hurt HDFC Bank and IndusInd bank. HDFC Bank has floating provisions of Rs 1800 crore while IndusInd Bank has ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 329
|
|
RBI eases offshore borrowing rules for non-bank asset finance companies
Posted Date : 09-Jul-2013 , 07:50:36 am | Posted By CASANSAAR
The Reserve Bank of India on Monday eased rules for non-bank asset finance companies to raise debt overseas by allowing the lenders to raise such funds through the automatic route as against the approval route earlier, in a step aimed at improving dollar supply amid a weakening rupee.
N...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 234
|
|
RBI receives 26 applications for new bank licences
Posted Date : 02-Jul-2013 , 08:00:18 am | Posted By CASANSAAR
The Reserve Bank of India has received 26 applications for new banking licences until Monday, the deadline for making a pitch, with a mix of big corporate houses led by the Tatas, the Aditya Birla group, the Rahul Bajaj group, Videocon, the Anil Ambani group and Larsen & Toubro in the race to se...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 800
|
|
RBI cautions banks against mis-selling insurance products
Posted Date : 28-Jun-2013 , 08:34:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI), in its financial stability report has raised concern about the conduct of banks while distributinginsurance products. RBI said in some cases, it was observed banks did not have a clear segregation of duties of marketing personnel from other branch...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 256
|
|
RBI keeps interest rate, CRR unchanged
Posted Date : 17-Jun-2013 , 05:32:38 pm | Posted By CASANSAAR
Reserve Bank on Monday kept the key interest rates unchanged citing elevated food inflation, rupee depreciation and uncertainty over foreign fund inflows.
The repo rate at which the RBI lends to the system has been retained at 7.25 per cent, while the cash reserve ratio will continue to be ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 260
|
|
RBI hikes cap for online repatriation of export proceeds
Posted Date : 12-Jun-2013 , 08:01:38 am | Posted By CASANSAAR
With an aim to arrest rupee slide by boosting forex inflows, RBI today raised the limit for online repatriation of export proceeds by over three-fold to $ 10,000 and made it mandatory for units in Special Economic Zones to repatriate full value of exports with...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 279
|
|
RBI asks banks to do legal audit in case of loans above Rs 5 crore
Posted Date : 08-Jun-2013 , 08:34:50 am | Posted By CASANSAAR
Reserve Bank of India told banks to do legal audit and re-verification of title deeds of loans above Rs 5 crore to check fraud. Two years back, banks were told to put a system a place wherein the concurrent auditors were required to look into the genuineness of the titl...
Continue Reading...
Category :
RBI |
Comments :
1 | Hits : 1192
|
|
RBI committee suggests changes in accounting of central bank balance sheet
Posted Date : 05-Jun-2013 , 09:30:53 pm | Posted By CASANSAAR
An RBI appointed technicalcommittee has recommended that the central bank's repo transactions be treated as lendings and borrowings and not as investments. This could address the fluctuation in accounts due to change in bond prices. The committee headed by Y H Malegam to review t...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 316
|
|
RBI clarifies rules for new bank licences
Posted Date : 03-Jun-2013 , 05:19:09 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) said on Monday in a clarification to queries on new bank licences that the validity of in-principle approval for new banks has been extended to 18 months from one year. RBI issued guidelines in February allowing any type of company to set...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 282
|
|
RBI tightens loan restructuring norms; raises provision to 5%
Posted Date : 31-May-2013 , 08:08:15 am | Posted By CASANSAAR
Worried over rising NPA, the Reserve Bank today tightened rules forrestructuring of most types of loans in line with global practices. As per the latest RBI notification, provisioning on the newly restructured account has been raised to 5 per cent from June 1 from 2 per cen...
Continue Reading...
Category :
RBI |
Comments :
1 | Hits : 456
|
|
RBI to auction inflation-indexed bonds worth Rs 1,000 cr on June 4
Posted Date : 30-May-2013 , 07:57:02 am | Posted By CASANSAAR
The Government of India have announced the sale of “New Inflation Indexed Government Stock-2023” for a notified amount of Rs.1,000 crore (nominal) through yield based auction. The auctions will be conducted using uniform price method. The auctions will ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 243
|
|
|
