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News - (Get Professional Updates on Whatsapp, Msg on 8285393786) Category : RBI

PNB reports Rs 3,688 Cr fraud by DHFL to RBI
Posted Date : 10-Jul-2020 , 10:17:34 am | Posted By CASANSAAR

Punjab National Bank has decided to report a fraud of Rs 3,688.58 crore by Dewan Housing Finance Corporation Ltd (DHFL) to the Reserve Bank of India (RBI). “A fraud of Rs 3,688.58 crore is being reported by the bank to the RBI in the accounts of the company (DHFL). The bank has already made...

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Category : RBI | Comments : 0 | Hits : 91

Madras HC issues notice to RBI to respond to PIL challenging NPA norms
Posted Date : 10-Jul-2020 , 10:13:25 am | Posted By CASANSAAR

The Madras High Court today issued a notice to the Reserve Bank of India (RBI), asking it to respond to a Public Interest Litigation (PIL) filed with the Court challenging the Non-Performing Assets (NPA) norms set by the banking regulator. The notice was issued by Justice M M Sundresh and Justice...

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Category : RBI | Comments : 0 | Hits : 51

RBI announces fresh OMO for sale, purchase of govt securities for Rs 10,000 Cr each
Posted Date : 30-Jun-2020 , 10:11:04 am | Posted By CASANSAAR

  The Reserve Bank of India on Monday announced another ‘operation twist’, also known as open market operations (OMO), under which it conducts simultaneous sale and purchase of bonds.   “On a review of current and evolving liquidity and market conditions, the RBI h...

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Category : RBI | Comments : 0 | Hits : 423

RBI extends enhanced borrowing limit under MSF till Sep 30
Posted Date : 28-Jun-2020 , 09:44:25 am | Posted By CASANSAAR

The RBI has also extended the relaxation on the minimum daily maintenance of the CRR at 80 per cent till September 25, 2020. Amid ongoing economic woes created by the coronavirus pandemic, the Reserve Bank has decided to extend the enhanced borrowing facility provided to banks to meet their liqui...

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Category : RBI | Comments : 0 | Hits : 453

RBI Committee Recommends Hike in ATM Charges; Limit Cash Withdrawals to Rs 5,000 per Transaction
Posted Date : 24-Jun-2020 , 09:43:18 am | Posted By CASANSAAR

A committee appointed by the Reserve Bank of India (RBI), headed by chief executive of Indian Banks’ Association (IBA) and consisting of representatives from all stakeholders, except bank customers, has recommended an increase in interchange charges for all transactions carried out on automate...

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Category : RBI | Comments : 1 | Hits : 485

RBI asks banks, NBFCs to increase awareness campaigns against frauds
Posted Date : 23-Jun-2020 , 09:50:37 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Monday told banks, non-banks and payments service providers to undertake targeted multi-lingual campaigns by way of SMSs, advertisements in print and visual media, etc, to educate their users on safe and secure use of digital payments. In a circular, the Reserve...

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Category : RBI | Comments : 0 | Hits : 475

New rules proposes for housing finance companies by RBI
Posted Date : 18-Jun-2020 , 09:18:22 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Wednesday proposed to tighten the rules governing home financiers, including putting restrictions on lending to builders and doubling the minimum net owned funds criterion. The regulator’s proposal has also clearly defined home finance firms and those that...

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Category : RBI | Comments : 0 | Hits : 369

RBI sets up panel to review ownership, corporate structure of Private sector banks
Posted Date : 14-Jun-2020 , 10:42:20 am | Posted By CASANSAAR

The Reserve Bank of India has constituted a five-member Internal Working Group to review the guidelines related to ownership, governance and corporate structure of private sector banks. In a press release, RBI informed that RBI Central Board Director P K Mohanty will head the committee, which will s...

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Category : RBI | Comments : 0 | Hits : 428

Delhi HC notice to Centre, RBI on plea for restructuring of loans by banks, NBFCs
Posted Date : 12-Jun-2020 , 09:40:00 am | Posted By CASANSAAR

Delhi High Court has issued notice to the Central government, Reserve Bank of India (RBI) and others on a plea seeking directions to allow a one-time restructuring of loans by all banks and non-banking financial companies (NBFCs) in the wake of coronavirus-induced lockdown. A bench of Justice Nav...

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Category : RBI | Comments : 0 | Hits : 190

RBI asks SBI to appoint a Chartered Accountant as CFO
Posted Date : 11-Jun-2020 , 10:21:14 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has asked State Bank of India (SBI) to appoint chartered accountant (CA), with relevant experience, as its chief financial officer (CFO). At present, SBI does not have a CA in its top ranks — deputy managing director (DMD) or chief general manager. A senior S...

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Category : RBI | Comments : 0 | Hits : 2129

RBI proposes major changes in securitisation norms
Posted Date : 09-Jun-2020 , 08:57:44 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Monday proposed major changes in securitisation norms aimed at development of a strong and robust market for the same in the country. Securitisation involves transactions where credit risk in assets are redistributed by repackaging them into tradeable securities...

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Category : RBI | Comments : 0 | Hits : 392

Sovereign Gold Bond to open on Monday, issue price fixed at Rs 4,677/gm
Posted Date : 08-Jun-2020 , 09:00:51 am | Posted By CASANSAAR

The third instalment of the Sovereign Gold Bond (SGB) scheme, issued by the Reserve Bank of India (RBI) on behalf of the government, will open for subscription for five days from Monday, June 8. The Sovereign Gold Bond Scheme 2020-21 Series III will be opened for subscription for June 8 to June 1...

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Category : RBI | Comments : 0 | Hits : 1756

RBI to launch Rs 500 Cr payments infrastructure development fund
Posted Date : 06-Jun-2020 , 09:35:59 am | Posted By CASANSAAR

  The Reserve Bank of India (RBI) on Friday announced the creation of a Rs 500-crore payments infrastructure development fund (PIDF) to encourage acquirers to deploy points of sale (PoS) infrastructure — both physical and digital modes — in tier-3 to tier-6 centres as also in nor...

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Category : RBI | Comments : 0 | Hits : 353

Rs 2 lakh cr will be lost if interest is waived off during loan moratorium - RBI
Posted Date : 04-Jun-2020 , 09:59:33 am | Posted By CASANSAAR

The Reserve Bank of India told the Supreme Court that it cannot waive interest on loans for the moratorium period, as it would affect the financial stability of the banking sector. In an affidavit filed in the top court, it estimated the interest payable on these loans to be Rs 2.01 lakh crore, or e...

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Category : RBI | Comments : 0 | Hits : 1454

Be aware of imitated Emails in the name of Reserve Bank of India - RBI
Posted Date : 02-Jun-2020 , 09:14:58 am | Posted By CASANSAAR

It has come to the notice of Reserve Bank of India that some unscrupulous entities/scamsters are imitating RBI mails for fraudulent purposes. Most of such mails are sent using fake domains, which do not belong to the Reserve Bank of India, but these could be deceptively similar involving use of word...

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Category : RBI | Comments : 0 | Hits : 989

RBI imposes Rs 4 Cr penalty on Citibank
Posted Date : 30-May-2020 , 10:31:56 am | Posted By CASANSAAR

The Reserve Bank has imposed a penalty of Rs 4 crore on Citibank for non-compliance with various regulatory norms and directions of the central bank. In a release, RBI said the penalty has been imposed on Citibank N A for contravention of certain sections of the Banking Regulation Act and for non...

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Category : RBI | Comments : 0 | Hits : 278

Reserve Bank of India imposes Rs 6.50 Cr penalty on 3 banks
Posted Date : 29-May-2020 , 10:47:46 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Thursday imposed a penalty of Rs 6.50 crore on Karnataka Bank, Bank of India and Saraswat Co-operative Bank for non-compliance with central bank's Income Recognition and Asset Classification norms. It fined Rs 5 crore on Bank of India, while it charged Rs 1....

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Category : RBI | Comments : 0 | Hits : 579

RBI cuts repo rate, extends moratorium on term loans by 3 months
Posted Date : 22-May-2020 , 10:46:38 am | Posted By CASANSAAR

RBI  announced that it has decided to cut the repo rate cut by 40 basis points from 4.4 per cent to 4 per cent, adding that the reverse repo rate has been reduced to 3.35 per cent. Addressing his third press conference in less than two months, RBI Governor Shaktikanta Das said that the GDP g...

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Category : RBI | Comments : 0 | Hits : 907

Govt appoints Tarun Bajaj as Director on RBI Central Board
Posted Date : 07-May-2020 , 08:35:01 am | Posted By CASANSAAR

The government has appointed Economic Affairs Secretary Tarun Bajaj as a director on the central board of Reserve Bank of India (RBI). Bajaj replaces Atanu Chakraborty, who retired on April 30. "The Central Government has nominated Tarun Bajaj, Secretary, Department of Economic Affairs, M...

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Category : RBI | Comments : 0 | Hits : 227

RBI cancels the licence of The CKP Co-operative Bank Ltd.
Posted Date : 03-May-2020 , 08:20:16 am | Posted By CASANSAAR

  The Reserve Bank of India (RBI) has, vide Speaking Order No DOR.CO.AID/LC-02/12.22.035/2019-20 dated April 28, 2020 cancelled the licence of The CKP Co-operative Bank Ltd., Mumbai, to carry on banking business, with effect from the close of business on April 30, 2020. The Registrar of Co-o...

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Category : RBI | Comments : 0 | Hits : 656

RBI allows banks to issue electronic cards for overdraft accounts
Posted Date : 25-Apr-2020 , 10:14:55 am | Posted By CASANSAAR

Reserve Bank of India permitted banks to issue electronic cards to persons having overdraft accounts that are only in the nature of personal loan without any specific end-use restrictions. Banks, as per the central bank's July 2015 directions, were permitted to issue debit cards to customers ...

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Category : RBI | Comments : 0 | Hits : 735

RBI asks banks to extend all benefits announced by govt pertaining to short-term crop loans to farmers
Posted Date : 22-Apr-2020 , 10:22:18 am | Posted By CASANSAAR

The Reserve Bank of India has asked banks to extend the benefit of interest subvention (IS) and prompt repayment incentive (PRI) for short-term crop loans to farmers till 31st May, 2020. In a notification, RBI said, it has observed that many farmers are not able to travel to bank branches for paymen...

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Category : RBI | Comments : 0 | Hits : 650

RBI Circular | Assets Classification and Provisioning | NPA Identifications
Posted Date : 20-Apr-2020 , 08:58:49 am | Posted By CASANSAAR

RBI Latest Circular on Assets Classification and Provisioning and Identification of  NPA for Bank Audits discussed by CA. Ashish Gupta. Watch this Video,,, https://youtu.be/bSPo2Z94u88 ...

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Category : RBI | Comments : 0 | Hits : 359

RBI gives NPA classification reprieve to accounts under 3-month moratorium
Posted Date : 18-Apr-2020 , 10:36:37 am | Posted By CASANSAAR

The Reserve Bank of India has decided to provide an asset classification standstill for standard accounts that avail a moratorium between 1 March and 31 May, said governor Shaktikanta Das on Friday. This effectively means that the bad loan classification period changes to 180 days for all such ac...

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Category : RBI | Comments : 0 | Hits : 731

RBI bans banks, cooperatives from paying dividends
Posted Date : 18-Apr-2020 , 10:35:53 am | Posted By CASANSAAR

The Reserve Bank on Friday debarred all commercial and cooperative banks from paying dividends to shareholders and promoter groups as the regulator fears the Covid-driven economic shocks would continue longer and may put the health of the financial system at risk. The decision will hit the alread...

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Category : RBI | Comments : 0 | Hits : 150

RBI slashes reverse repo rate by 25 bps, no change in repo rate
Posted Date : 17-Apr-2020 , 12:00:48 pm | Posted By CASANSAAR

Addressing the media for the second time since the Narendra Modi government imposed a national lockdown on March 25, RBI Governor Shaktikanta Das announced a reduction in reverse repo rate by 25 basis points from 4 per cent earlier to 3.75 per cent now. The reduction in reverse repo rate is one of a...

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Category : RBI | Comments : 0 | Hits : 138

RBI announces dates for issuance of sovereign Gold bonds
Posted Date : 15-Apr-2020 , 10:20:58 am | Posted By CASANSAAR

The Reserve Bank of India (RBI), after consultation with the Centre, has announced the issue dates of the sovereign gold bond scheme 2020-21. There bonds will be issued in six tranches, beginning 28 April and ending 08 September 2020. The RBI will come out with an issue every month. Please see th...

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Category : RBI | Comments : 0 | Hits : 344

RBI asks banks to offer 3-month moratorium for all
Posted Date : 08-Apr-2020 , 08:46:32 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has told banks and non-banking financial companies (NBFCs) that all borrowers should get the three-month moratorium and can opt-out if they choose, the Economic Times reported. Banks had chosen to either make the moratorium a given (with an option to opt-out) or ha...

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Category : RBI | Comments : 0 | Hits : 1037

RBI amends timings for debt markets from 7 April
Posted Date : 05-Apr-2020 , 10:00:03 am | Posted By CASANSAAR

The Reserve Bank of India announced a change in debt money market timings from the existing 9 am-5 pm to 10 am-2 pm, in view of the lockdown. The new arrangement will come into effect on 7 April and continue till 17 April. “The resultant dislocations have adversely impacted the functioning ...

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Category : RBI | Comments : 0 | Hits : 209

RBI denies banks' request for stay on asset classification norms amid COVID-19 Crisis
Posted Date : 03-Apr-2020 , 08:27:50 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has denied a request from banks to put a stay on the asset classification norms, according to a report by The Economic Times. The central bank's instruction could hurt companies hoping to avoid being labelled as defaulters amid the coronavirus outbreak. Comp...

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Category : RBI | Comments : 0 | Hits : 1320

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