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News Category : RBI

Companies can raise $750 mn yearly via external commercial borrowings - RBI
Posted Date : 17-Jan-2019 , 09:37:09 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Wednesday allowed entities that are eligible to receive foreign direct investment (FDI) to raise external commercial borrowings (ECBs), by enabling them to raise funds through automatic route up to $750 million per year. The ECBs raised would be within the overa...

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Category : RBI | Comments : 0 | Hits : 92

RBI slaps Rs 1 crore Penalty on Bank of Maharashtra
Posted Date : 17-Jan-2019 , 09:32:53 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on Bank of Maharashtra for deficiencies in regulatory compliance. According to the RBI, the fine was imposed by an order dated January 4, 2019 "for non-compliance with `Master Directions on Frauds-Classification and...

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Category : RBI | Comments : 0 | Hits : 263

RBI slaps Rs 1 Crore Penalty on Bajaj Finance
Posted Date : 15-Jan-2019 , 10:51:30 am | Posted By CASANSAAR

The Reserve Bank of India has imposed a penalty of Rs 1 crore on Bajaj Finance for deficiencies in regulatory compliance.  According to RBI, the penalty has been imposed, by an order on January 3, for violation of 'fair Practices Code of Master Direction DNBR'.  "This ac...

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Category : RBI | Comments : 0 | Hits : 686

RBI slaps Rs 3 crore penalty on Citibank India
Posted Date : 12-Jan-2019 , 08:59:47 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has imposed a penalty of Rs 3 crore on Citibank India for not complying with directions regarding the 'fit-and-proper criteria' for directors of the bank.  The RBI in a statement, however, added that the action is based on deficiencies in regulatory co...

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Category : RBI | Comments : 0 | Hits : 259

RBI issues guidelines on use of Tokenisation to make contactless card payments safer
Posted Date : 09-Jan-2019 , 08:21:56 am | Posted By CASANSAAR

In a move aimed at enhancing the safety and security of the payment systems in the country, the Reserve Bank of India (RBI) on Tuesday issued guidelines on the use of tokenisation - a way to mask sensitive card data with unique symbols or elements. The tokenisation for debit/credit/prepaid card t...

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Category : RBI | Comments : 0 | Hits : 429

Nandan Nilekani to head RBI committee on digital payments
Posted Date : 08-Jan-2019 , 05:28:18 pm | Posted By CASANSAAR

The Reserve Bank of India on Tuesday appointed Infosys co-founder Nandan Nilekani as chairman of a committee to look into the digitisation of payments in India. Nilekani, who is known as the architect of the Aadhaar, and the former Unique Identification Authority of India (UIDAI) chairman, will be a...

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Category : RBI | Comments : 0 | Hits : 277

Will take steps if there is liquidity shortage: RBI Governor
Posted Date : 07-Jan-2019 , 02:49:51 pm | Posted By CASANSAAR

Reserve Bank Governor Shaktikanta Das Monday said the central bank will take steps if there is a liquidity shortage in the economy, though currently liquidity needs are largely met. Das, who met associations of small and medium enterprises in the national capital, will meet non-banking financial ...

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Category : RBI | Comments : 0 | Hits : 101

RBI enforces Rs 14-crore penalty on 7 banks for flouting norms
Posted Date : 02-Jan-2019 , 06:46:19 pm | Posted By CASANSAAR

The Reserve Bank of India has undertaken enforcement action against seven banks (including a payments bank and a cooperative bank) and has imposed an aggregate penalty of Rs 14.20 crore for a wide range of contraventions in the period between July 1, 2018 and October 31, 2018, according to the lates...

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RBI offers relief to MSMEs; allows restructuring of debt up to Rs 25 crore
Posted Date : 02-Jan-2019 , 09:46:00 am | Posted By CASANSAAR

Reserve Bank has allowed a one-time restructuring of existing debt of up to 25 crore rupees for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. The decision will help the micro, small and medium enterprises (MSMEs) which a...

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Category : RBI | Comments : 0 | Hits : 143

Banks lost Rs 41,167 crore to fraud in 2017-18 - RBI
Posted Date : 31-Dec-2018 , 01:16:50 pm | Posted By CASANSAAR

Fraudsters have looted Rs 41,167.7 crore from the banking system in 2017-18, a sharp jump of 72 per cent from Rs 23,933 crore the previous year, despite “stringent monitoring and vigilance”, according to data released by the Reserve Bank of India (RBI). There were 5,917 instances of b...

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Category : RBI | Comments : 0 | Hits : 206

Strengthen NCLT infrastructure to speed up resolutions: RBI
Posted Date : 29-Dec-2018 , 04:32:30 pm | Posted By CASANSAAR

The central bank has called for strengthening the infrastructure at the National Company Law Tribunals (NCLT) to ensure time-bound resolution of stressed-asset loans in the banking sector, where the problem of mounting bad debt has prompted curbs on the normal operations at several high-street lende...

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Bimal Jalan to head panel on RBI reserve; Rakesh Mohan to be vice chairman
Posted Date : 27-Dec-2018 , 10:34:31 am | Posted By CASANSAAR

Reserve Bank of India has named former Governor Bimal Jalan as the head of the expert panel that will decide on the appropriate size of reserves that the central bank should maintain and the dividend it should give to the government. RBI said in a statement yesterday that expert committee has bee...

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Category : RBI | Comments : 0 | Hits : 566

RBI launches survey to capture retail payment habits in 6 cities
Posted Date : 27-Dec-2018 , 10:24:48 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) will capture payment habits of individuals in six cities, including four metropolitan towns. For the purpose, the central bank has launched a 'Survey on Retail Payment Habits of Individuals (SRPHi)'. According to RBI release, the survey will cover a sample ...

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Category : RBI | Comments : 0 | Hits : 547

RBI guidelines for agencies to deposit money in ATMs
Posted Date : 18-Dec-2018 , 09:36:00 pm | Posted By CASANSAAR

Reserve Bank of India (RBI) vide its guidelines issued on 6.4.2018 on ‘Cash Management activities of the banks - Standards for engaging the Service Provider and its sub-contractor’, advised banks to put in place certain minimum standards  in their arrangements with the service provi...

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Category : RBI | Comments : 0 | Hits : 227

Shaktikanta Das appointed as the new RBI Governor
Posted Date : 11-Dec-2018 , 02:20:41 pm | Posted By CASANSAAR

Former bureaucrat Shaktikanta Das, who spearheaded the post-demonetisation normalisation of the economy, was Tuesday named the new governor of the Reserve Bank of India. Das, 61, replaces Urjit Patel, who shocked the establishment and markets by announcing his exit from the central bank Monday. ...

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RBI Governor Urjit Patel Resigns
Posted Date : 10-Dec-2018 , 05:48:40 pm | Posted By CASANSAAR

Reserve Bank of India (RBI) Governor Urjit Patel on Monday resigned from his post with immediate effect, citing "personal reasons". "On account of personal reasons, I have decided to step down from my current position effective immediately," he said in a brief statement releas...

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Category : RBI | Comments : 0 | Hits : 562

RBI proposes new method to benchmark floating rate of loans for MSMEs
Posted Date : 09-Dec-2018 , 12:47:51 pm | Posted By CASANSAAR

In a bid to ensure greater transparency, Reserve Bank has proposed that floating interest rates on personal, home, auto and MSMEs loans be linked to external benchmarks like repo rate or treasury yields. In a statement issued from Mumbai yesterday, RBI said that the final guidelines to link the inte...

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Category : RBI | Comments : 0 | Hits : 407

RBI keeps key rates unchanged
Posted Date : 06-Dec-2018 , 08:12:32 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) Wednesday expectedly kept interest rates unchanged but held out a promise to cut them if the upside risks to the inflation do not materialise. It also coaxed banks to lend more in order to support the slowing economy. With all the six member of the monetary poli...

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Category : RBI | Comments : 0 | Hits : 199

Interest subsidy for MSME sector exporters increased to 5 per cent - RBI
Posted Date : 30-Nov-2018 , 08:31:20 am | Posted By CASANSAAR

To boost MSME sector exports, the Reserve Bank said Thursday the interest subsidy on post and pre-shipment export credit has been increased to 5 per cent from 3 per cent.  The increased subsidy is applicable from November 2.  Exporters get the subsidy under the 'Interest Equalisa...

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Category : RBI | Comments : 0 | Hits : 435

RBI reduces minimum holding period for securitisation of loan portfolios
Posted Date : 30-Nov-2018 , 08:21:50 am | Posted By CASANSAAR

To help further ease liquidity condition for non-bank lenders, the Reserve Bank of India has made changes to the holding period for securitised loan portfolios. In a notification on Thursday, the Reserve Bank of India said that the minimum holding period requirement for non-banking finance compan...

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Category : RBI | Comments : 0 | Hits : 293

RBI eases hedging requirements for foreign loans
Posted Date : 27-Nov-2018 , 08:34:27 am | Posted By CASANSAAR

The Reserve Bank of India has decided to ease hedging requirements for medium-term foreign currency borrowings. The move will help bring down the final cost of overseas loans for Indian firms but could leave them more exposed to volatility in the foreign exchange markets. Medium-term external com...

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Category : RBI | Comments : 0 | Hits : 341

CIC asks RBI to divulge list of wilful defaulters in 45 days
Posted Date : 19-Nov-2018 , 11:02:33 am | Posted By CASANSAAR

The Central Information Commission has pulled up the Reserve Bank of India (RBI) for its “anti-RTI (Right to Information) policy” and asked the banking regulator to divulge the list of wilful defaulters of loans within 45 days as ordered by the Supreme Court in its 2015 judgement.  ...

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Category : RBI | Comments : 0 | Hits : 281

New RBI window may not increase credit to NBFCs
Posted Date : 17-Nov-2018 , 08:41:32 am | Posted By CASANSAAR

The partial credit enhancement (PCE)facility by the Reserve Bank of India's (RBI) for non-bank lenders is unlikely to have the desired impact of increasing credit flow to the troubled sector, a report said Friday. On November 2, RBI had allowed banks to provide PCE for debt raised by non-depo...

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Category : RBI | Comments : 0 | Hits : 233

RBI cancels registration of 65 NBFCs
Posted Date : 16-Nov-2018 , 07:35:35 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) today cancelled certificate of registration of 65 NBFCs through two separate notifications for unspecified reasons. Most of these NBFCs are in Delhi, while a few of them are in Uttar Pradesh and Haryana. While only one each are from Ahmedabad and Coimbatore. The...

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Category : RBI | Comments : 0 | Hits : 484

RBI imposes fine of Rs 3 crore each on Deutsche Bank, J&K Bank
Posted Date : 15-Nov-2018 , 01:09:30 pm | Posted By CASANSAAR

The Reserve Bank said Wednesday it has imposed a penalty of over Rs 3 crore on Deutsche Bank for non-compliance of various norms, including asset classification and KYC. The RBI also slapped a fine of Rs 3 crore on state-owned Jammu and Kashmir Bank Ltd for violating similar norms.  The R...

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Category : RBI | Comments : 0 | Hits : 281

RBI refuses to give info on NPAs, loan defaulters to SEBI
Posted Date : 15-Nov-2018 , 12:45:47 pm | Posted By CASANSAAR

The Reserve Bank of India (RBI) has declined to pass on information about non-performing assets (NPAs) and loan defaulters that the Securities and Exchange Board of India (Sebi) has asked for in the past year, according to two people with knowledge of the development.  The banking regulator&...

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Category : RBI | Comments : 0 | Hits : 205

RBI needs to align capital adequacy norms with Basel III norms
Posted Date : 14-Nov-2018 , 09:01:15 am | Posted By CASANSAAR

The government is of the view that the Reserve Bank should resort to Basel III norms for capital adequacy in banks rather than the present stricter guidelines which restrict the lending capacity of lenders, sources said.  Currently, the RBI applies stricter norms and not those specified unde...

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Category : RBI | Comments : 0 | Hits : 178

Govt refuses to yield on Section 7 of RBI Act
Posted Date : 12-Nov-2018 , 12:12:03 pm | Posted By CASANSAAR

Three IRS officers have been appointed as new members in the CBDT, the policy-making body for the Income Tax (I-T) Department. The officers P K Dash, Akhilesh Ranjan and Neena Kumar, are from the 1982-batch of the Indian Revenue Service (IRS) and have taken charge of their posts in the Central Bo...

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Category : RBI | Comments : 0 | Hits : 307

RBI cancels registration of 31 NBFCs, majority from West Bengal
Posted Date : 09-Nov-2018 , 09:53:27 pm | Posted By CASANSAAR

The Reserve Bank of India on Friday cancelled the certificate of registrations of as many as 31 non-banking finance companies (NBFCs) for unspecified reasons.  It also cancelled the certificate of registrations of 17 NBFCs following a request by them for the same. The action comes amid diffi...

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Category : RBI | Comments : 0 | Hits : 512

RBI relaxes ECB norms for infrastructure creation
Posted Date : 09-Nov-2018 , 09:21:27 am | Posted By CASANSAAR

The Reserve Bank of India on Wednesday liberalised the norms governing foreign borrowings for infrastructure creation.  The central bank in a notification said that the minimum average maturity requirement for the External Commercial Borrowings, ECBs in the infrastructure space raised by eli...

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Category : RBI | Comments : 0 | Hits : 205

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