RBI bans loans to buy gold
Posted Date : 20-Nov-2012 , 09:15:29 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday notified a total ban on banks from advancing any loans to its customers for purchasing gold in any form, which includes primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds ( ETF) and units of gold mutual funds.&nb...
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RBI to banks: Show action taken on unhedged forex risks
Posted Date : 14-Nov-2012 , 08:45:08 am | Posted By CASANSAAR
At a time when the risks from unhedged foreign currency exposure of companies has emerged as a big scare for the banking sector, theReserve Bank of India (RBI) has directed banks to furnish action taken reports on the issue before end-December 2012.
The direction on filing th...
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RBI asks banks to strengthen credit monitoring as NPAs jump
Posted Date : 09-Nov-2012 , 08:20:07 am | Posted By CASANSAAR
The Reserve Bank today said the banks need to strengthen their due diligence and credit appraisal system along with overall monitoring mechanism to contain the rising bad assets seen in the banking system. "Banks need to, not only utilise effectively, the various measures put in plac...
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RBI issues guidelines on liquidity management
Posted Date : 08-Nov-2012 , 08:08:02 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday said banks should fix a lower limit for their IBL (inter-bank liability).
“The IBL of a bank should not exceed 200 per cent of its net worth as on March 31 of the previous year. However, individual banks may, with the approval of their board ...
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RBI to NBFCs: Replace post-dated cheques with standardised norm
Posted Date : 07-Nov-2012 , 08:49:51 am | Posted By CASANSAAR
The Reserve Bank today asked non- banking financial companies (NBFCs) to replace post-datedcheques issued to them by customers with new standardised cheques with improved security features.NBFCs accept post-dated cheques from their customers for future monthly installment payments. For the...
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RBI may ease monetary policy
Posted Date : 07-Nov-2012 , 08:27:52 am | Posted By CASANSAAR
The Reserve Bank of India, RBI, may ease monetary policy as early as January as price pressures ease in Asia's third-largest economy in the first part of next year on the back of slower growth.
RBI Governor Subbarao said this on Monday. Growth in India has slumped to around 5.5 p...
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RBI changes definition of sickness for assessing MSE viability
Posted Date : 03-Nov-2012 , 08:53:28 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has modified the definition of sickness and a procedure for assessing the viability of sick micro and small enterprises (MSEs). According to a notification issued by RBI on Thursday, “An MSE is considered sick when any of the borrowal account of the en...
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RBI:RBI cuts CRR by 25 bps to 4.25%
Posted Date : 30-Oct-2012 , 11:47:10 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday cut the cash reserve ratio (CRR)by 25 basis points to 4.25%, but kept the key policy rates including the repo rate unchanged. The CRR cut is meant to inject Rs 17500 crore into the banking system. It is intended to pre-empt prospective liquidity c...
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RBI Survey lowers GDP growth projection to 5.7% from 6.5% for current fiscal
Posted Date : 29-Oct-2012 , 11:14:52 pm | Posted By CASANSAAR
Indicating that a cut in interest rate is likely, the Reserve Bank has said despite high inflation it would take steps to support growth in the half- yearly review of monetary policy tomorrow.
RBI said the Survey of Professional Forecasters has lowered the GDP growth projection to 5.7 per cen...
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RBI allows domestic companies to make payments in SEZ in foreign currency
Posted Date : 24-Oct-2012 , 06:02:37 pm | Posted By CASANSAAR
The Reserve Bank of India has allowed domestic companies to make payments to units in special economic zones in foreign currency for the services delivered by them. Earlier, this facility was allowed only for payments made for goods. The move assumes significance as the tax-free zones are losing she...
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RBI allows FIIs to hedge currency risk at any authorised dealer bank news
Posted Date : 24-Oct-2012 , 08:31:21 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has eased norms for hedging currency risk for foreign institutional investors (FIIs) by allowing them to approach any authorised dealer bank to hedge currency risk on their stock market investments.
Foreign institutional investors (FIIs) can approach any auth...
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RBI may treat part of SLR as liquidity under Basel III
Posted Date : 23-Oct-2012 , 06:09:45 am | Posted By CASANSAAR
RBI Deputy Governor Anand Sinha on Monday said the central bank is looking at a move under which a part of banks' statutory liquidity ratio (SLR) holdings can be treated in a way that it complies with liquidity norms under the Basel III capital requirements. Sinha said this at an event organised in ...
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RBI to set aside funds for buying illiquid gilts
Posted Date : 17-Oct-2012 , 07:38:27 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) is working with the government to set aside funds for buying illiquid gilts from the market. “Over a period of time we will have some budget where we will try to repair some of those securities in which volumes are low, and create volumes for those securities wh...
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RBI relaxes norms for opening subsidiaries by foreign NBFCs
Posted Date : 11-Oct-2012 , 07:35:25 am | Posted By CASANSAAR
Relaxing norms for foreign-owned NBFCs to open subsidiaries, the RBI today said such entities can now set up arms even if the overseas investment is less than 100 per cent. "NBFCs having foreign investment more than 75 per cent and up to 100 per cent and with a minimum capit...
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Govt working on guarantee scheme for educational loans: RBI
Posted Date : 04-Oct-2012 , 07:51:17 am | Posted By CASANSAAR
In a bid to remove problems faced by students in obtaining education loans, government was working on a scheme under which it would extend guarantee for advances upto Rs 7.5 lakh, RBI Governor D Subba Rao said on Wednesday.
"There are grievances of students not getting loans or encountering...
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RBI extends interest rate ceiling on export credit to six months
Posted Date : 28-Sep-2012 , 08:14:49 am | Posted By CASANSAAR
The Reserve Bank today extended the interest rate ceiling on export credit with overseas banks to six months. "It has been decided that the interest rate ceiling on lines of credit with overseas banks will continue to be six months Libor/Euro Libor/Euribor plus 250...
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RBI allows NRIs to pick up shares, debentures at face value
Posted Date : 26-Sep-2012 , 09:35:36 pm | Posted By CASANSAAR
The Reserve Bank of India today said non-residents, including NRIs, can make investment in an Indian company at the face value of shares or debentures subject to compliance with FDI scheme."It has been decided that in cases where non-residents (including NRIs) make investment in an Indian company in...
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Bank ATMs stop sucking in cash after RBI direction
Posted Date : 24-Sep-2012 , 08:34:54 am | Posted By CASANSAAR
Next time you go to an ATM to withdraw cash, don't worry about the banknotes getting sucked back by the machine if not collected immediately, as RBI has asked all banks to immobilise the 'cash retraction facility'.
At the same time, customers will have to be extra careful in collecting the ...
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Banks need to improve systems to protect asset quality: RBI
Posted Date : 16-Sep-2012 , 08:49:24 am | Posted By CASANSAAR
Indian banks need to improve their systems and processes to identify early any stress on the quality of their loans, the Reserve Bank of India (RBI) said.
"Asset quality of banks is one of the most important indicators of their financial health. However, it has been observed that existing MIS on th...
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RBI restricts Vishal Finlease from accepting public deposits
Posted Date : 14-Sep-2012 , 08:38:25 am | Posted By CASANSAAR
The Reserve Bank has restricted Gandhinagar based non-banking financial institutionVishal Finlease Pvt Ltd from accepting public deposits for violation of guidelines. "The company - Vishal Finlease Pvt Ltd - has been stopped from accepting public deposits for violating RBIgui...
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RBI: Central bank focusing on bringing down cash component in economy
Posted Date : 14-Sep-2012 , 08:33:19 am | Posted By CASANSAAR
RBI has said that the central bank is focused on bringing down the cash component in the economy. Speaking to reporters in Mumbai today, RBI Deputy Governor H R Khan said that circulation of a large amount of cash in the economy leads to many problems and hence India should move towards a less cash ...
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RBI relaxes ECB norms, hikes limit to $3 billion
Posted Date : 12-Sep-2012 , 08:25:33 am | Posted By CASANSAAR
In a bid to increase the foreign fund flow into the country, the Reserve Bank of India today hiked the maximum limit to $3 billion for foreign borrowers under the external commercial borrowing (ECB) norms.
ECB refers to commercial loans in the form of bank loans, buyers' credit, suppliers' credit, ...
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RBI advises against gold investment
Posted Date : 08-Sep-2012 , 09:21:22 am | Posted By CASANSAAR
On a day gold prices touched a new high, the Reserve Bank of India (RBI) urged the public against choosing gold as an asset for savings or investment. "Because interest rates are very low, people are investing in gold. But the poor should never invest in gold for whenever they ha...
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RBI tightens norms for loan securitisation by NBFCs
Posted Date : 22-Aug-2012 , 07:01:44 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday extended the guidelines on securitisation of standard assets (loans), which had earlier been issued to banks, to non-banking finance companies (NBFCs) also, stipulating that originating NBFCs can securitise loans only after it had been held by them for a mi...
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RBI proposes to tighten banks' exposure norms to group companies
Posted Date : 14-Aug-2012 , 10:51:56 pm | Posted By CASANSAAR
Aiming to avoid concentration of credit risk, the RBI today proposed that a bank's exposure to its own group entities should not exceed 20 per cent of thepaid-up capital and reserves.In case of all non-financial services companies and unregulated financial services companies taken tog...
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RBI revises regulatory norms for microfinance NBFCs
Posted Date : 04-Aug-2012 , 09:40:40 am | Posted By CASANSAAR
The RBI on Friday changed regulatory norms for microfinance companies with liberal norms for those operating in the North Eastern states.
"The bank has been receiving representations from NBFCs that are primarily intomicrofinancing, conveying difficulties in complying with the frame...
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RBI slashes SLR, releases Rs. 60,000 cr
Posted Date : 01-Aug-2012 , 06:28:40 am | Posted By CASANSAAR
The Reserve Bank of India (RBI), on Tuesday, kept the key indicative policy rates unchanged while it cut the gross domestic product (GDP) forecast for the current financial year from 7.3 per cent to 6.5 per cent and raised the inflation forecast from 6.5 per cent to 7 per cent.
However, the...
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RBI: Persistence of inflation, slow growth major challenge for monetary policy
Posted Date : 30-Jul-2012 , 09:50:09 pm | Posted By CASANSAAR
The Reserve Bank of India has said that persistence of inflation and slow growth have emerged as a major challenge for the monetary policy.In a report on macroeconomic and monetary developments, the RBI has said that there are increased risks on inflation scenario and lack of action on the fiscal fr...
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RBI rationalises customer charges for NEFT
Posted Date : 14-Jul-2012 , 03:57:24 pm | Posted By CASANSAAR
The Reserve Bank of India has rationalized charges that banks can levy on customers for transfer of funds through National Electronic Funds Transfer - NEFT.
In a notification issued in Mumbai, the RBI said as per the new rate system, banks can levy not more than 2 rupees 50 paise for fun...
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RBI to launch plastic currency on pilot basis in 5 centres
Posted Date : 12-Jul-2012 , 09:22:38 am | Posted By CASANSAAR
Amid instances of counterfeiting of notes, the Reserve Bank Monday said it is working on launching plastic currency and will soon launch a pilot project for the same.
"Counterfeiting of plastic notes is very difficult. So we are planning to launch some plastic money on a pilot basis in 4-5 ...
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