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

RBI raises short-term investment limit of FPIs to 30% from 20% of portfolio
Posted Date : 24-Jan-2020 , 10:42:39 am | Posted By CASANSAAR

With foreign investors dumping Indian debt but keeping up their investment in equities, the Reserve Bank of India (RBI) on Thursday increased the short-term investment limit of such investors. It doubled the limit in case they voluntarily disclose their investment plan before hand. In two separat...

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Category : RBI | Comments : 0 | Hits : 226

RBI issues new debit and credit card rules to improve convenience and security
Posted Date : 15-Jan-2020 , 10:41:54 pm | Posted By CASANSAAR

As over the years, the volume and value of transactions made through cards have increased manifold, the Reserve Bank of India on Wednesday issued new rules for credit and debit cards to improve user convenience and increase the security of card transactions. RBI asks banks to allow only domestic ...

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Category : RBI | Comments : 0 | Hits : 1064

RBI amends KYC norms, allows banks to use V-CIP
Posted Date : 11-Jan-2020 , 07:32:56 pm | Posted By CASANSAAR

The RBI has amended the KYC norms allowing banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP), a move which will help them onboard customers remotely. The V-CIP, which will be consent-based, will make it easier for banks and other regulate...

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Category : RBI | Comments : 0 | Hits : 149

RBI extends recurring payments feature to UPI
Posted Date : 11-Jan-2020 , 12:00:26 pm | Posted By CASANSAAR

The Reserve Bank of India (RBI) will now allow consumers to give an e-mandate for recurring payments made through Unified Payments Interface (UPI), a move that is expected to ease small digital payments made at grocery shops and local stores. This functionality will allow UPI users to bypass addi...

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Category : RBI | Comments : 0 | Hits : 409

RBI releases national strategy for financial inclusion
Posted Date : 11-Jan-2020 , 11:54:15 am | Posted By CASANSAAR

Wider acceptance and adoption of digital payments will play a key role towards financial inclusion, according to the Reserve Bank of India’s (RBI’s) recommendation for sustainable financial inclusion during 2019-20. Along with traditional banking outlets, payments banks, small finance...

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Category : RBI | Comments : 0 | Hits : 66

RBI amends KYC norms, allows banks to use V-CIP
Posted Date : 10-Jan-2020 , 10:21:28 am | Posted By CASANSAAR

The RBI has amended the KYC norms allowing banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP), a move which will help them onboard customers remotely. The V-CIP, which will be consent-based, will make it easier for banks and other regulate...

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Category : RBI | Comments : 0 | Hits : 376

RBI allows 24x7 forex market operations via select banks
Posted Date : 08-Jan-2020 , 10:19:21 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Monday said select banks in India can offer forex rates to Indian clients beyond the inter-bank market hours, which now run from 9 am to 5 pm. In effect, this opens up the forex market in India round the clock, allowing Indians to hedge their foreign exchange risks...

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Category : RBI | Comments : 0 | Hits : 308

RBI announces special OMO of Rs 10,000 Cr on Jan 6
Posted Date : 03-Jan-2020 , 08:55:33 am | Posted By CASANSAAR

The Reserve Bank on Monday will carry a special simultaneous open market operation to buy and sell government bonds of Rs 10,000 crore each. "On a review of the current liquidity and market situation and an assessment of the evolving financial conditions, the Reserve Bank has decided to cond...

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Category : RBI | Comments : 0 | Hits : 152

RBI extends NBFC securitization relaxations till 30 June
Posted Date : 01-Jan-2020 , 07:55:40 pm | Posted By CASANSAAR

The Reserve Bank of India (RBI) has extended, for another six months, existing relaxations for securitization of assets by non-banking financial companies (NBFCs). The move is expected to provide NBFCs with some more breathing space to repair their broken balance-sheets by selling assets and improvi...

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Category : RBI | Comments : 0 | Hits : 281

Cooperative banks will need RBI approval for CEO appointment
Posted Date : 01-Jan-2020 , 11:33:44 am | Posted By CASANSAAR

In an attempt to strengthen its supervisory control over the Urban co-operative banks (UCBs) the Reserve Bank on Friday said that UCBs with deposit base over Rs 100 crore will require prior approval of RBI for appointment of their CEOs. After capping lending to a single borrower and raising the p...

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Category : RBI | Comments : 0 | Hits : 685

RBI blasts credit rating agencies for allowing rating shopping to large borrowers
Posted Date : 30-Dec-2019 , 09:05:50 am | Posted By CASANSAAR

After getting it badly from markets watchdog Sebi, credit rating agencies (CRAs) whose role in the bad loan implosion has been under scrutiny for years now, the Reserve Bank has blasted them for allowing low-rated companies to do "rating shopping". It can be noted that rating agencies h...

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Close to half of claims under IBC were settled in FY19 - RBI
Posted Date : 30-Dec-2019 , 08:59:47 am | Posted By CASANSAAR

Around half of the claims under the Insolvency and Bankruptcy Code (IBC) were settled in 2018-19, the latest RBI report showed, helping banks recover stressed assets more quickly. As a percentage of claims, banks recovered on average 42.5% of the amount filed through the IBC in the financial year...

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Category : RBI | Comments : 0 | Hits : 145

SBI to launch OTP-based ATM cash withdrawal from Jan 1
Posted Date : 28-Dec-2019 , 10:39:41 am | Posted By CASANSAAR

From January, SBI customers will be able to make ATM withdrawal above Rs 10,000 only after an OTP verification during 8 PM to 8 AM. The OTP-validated ATM transaction has been introduced to minimise the number of unauthorised transactions, State Bank of India (SBI) said in a Facebook post on Thursday...

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Category : RBI | Comments : 0 | Hits : 251

RBI directs large co-op banks to report exposures above Rs 5 Cr
Posted Date : 28-Dec-2019 , 09:39:47 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has directed large cooperative banks to report all exposures of 5 crore rupees and more to the Central Repository of Information on Large Credits (CRILC). The move is aimed at early detection of financial distress. The Reserve Bank has created a CRILC of commercial...

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Category : RBI | Comments : 0 | Hits : 328

RBI introduces new Prepaid Payment Instrument for your daily grocery payments
Posted Date : 25-Dec-2019 , 08:42:38 am | Posted By CASANSAAR

The Reserve Bank of India has given Indian consumers a new option to make their daily payments at local shops and retail outlets for the purchase of daily household goods and services. In a bid to give increased impetus to small ticket digital payments RBI on Tuesday has introduced a new Prepaid ...

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Category : RBI | Comments : 0 | Hits : 739

Reserve Bank of India releases Annual Report of Ombudsman Schemes
Posted Date : 19-Dec-2019 , 09:12:19 am | Posted By CASANSAAR

he Reserve Bank of India (RBI) released the Annual Report of the “Ombudsman Schemes of RBI for the year 2018-19” today. A. Banking Ombudsman Scheme The Banking Ombudsman Scheme (BOS) was notified by RBI in 1995 under Section 35A of the Banking Regulation Act, 1949. During...

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Category : RBI | Comments : 0 | Hits : 312

11.4 lakh transactions settled in 8 hours after RBI operationalises NEFT 24X7
Posted Date : 17-Dec-2019 , 09:37:06 am | Posted By CASANSAAR

The Reserve Bank has informed that about 11.4 lakh transactions were settled in the first eight hours after the round the clock operation of National Electronic Funds Transfer - NEFT system came into force from 12:00 am today. The RBI said, making NEFT available 24x7 is part of its vision of empower...

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Category : RBI | Comments : 0 | Hits : 177

NEFT to be available 24x7 from Dec 16 - RBI
Posted Date : 07-Dec-2019 , 08:06:51 am | Posted By CASANSAAR

The Reserve Bank of India (RBI), on Friday, said the National Electronic Funds Transfer (NEFT) facility should be made available by member banks participating in the payment system from December 16 on all days of the year, including holidays. NEFT is a nation-wide payment system facilitating one-...

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Category : RBI | Comments : 0 | Hits : 247

RBI mulling to amend regulatory guidelines for UCBs
Posted Date : 06-Dec-2019 , 10:06:42 am | Posted By CASANSAAR

The Reserve Bank of India today said that it is mulling to amend regulatory guidelines for primary Urban Co-operative Banks - UCBs. Speaking to reporters in Mumbai today, RBI Governor Shaktikanta Das said, the guidelines would primarily relate to exposure norms for single and group/interconnected...

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Category : RBI | Comments : 0 | Hits : 148

RBI-owned subsidiary Only up to Rs 1 lakh, not all money, insured in banks
Posted Date : 03-Dec-2019 , 05:12:19 pm | Posted By CASANSAAR

Depositors in failed and liquidated banks will get only up to Rs 1 lakh as insurance cover, regardless of the amount in their accounts, according to the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly owned subsidiary of the Reserve Bank of India. This covers savings, fixed, ...

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Category : RBI | Comments : 0 | Hits : 271

Vijaya Bank, Dena bank removed from second schedule of RBI Act
Posted Date : 29-Nov-2019 , 08:34:22 am | Posted By CASANSAAR

The Reserve Bank of India on November 28 said it has excluded Vijaya Bank and Dena Bank from the second schedule of the RBI Act, with effect from April 1, 2019. "Vijaya Bank and Dena Bank have been excluded from the second schedule to the Reserve Bank of India Act, 1934 with effect from Apri...

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Category : RBI | Comments : 0 | Hits : 932

RBI mulling new rules on corporate governance; wants banks to disclose more
Posted Date : 23-Nov-2019 , 10:31:39 am | Posted By CASANSAAR

The Reserve Bank is looking at introducing new rules on corporate governance for banks in sync with global ones, and would also like lenders to disclose more, Deputy Governor N S Vishwanathan said on Friday. Vishwanathan also urged banks to recognise losses because of NPAs as early as possible an...

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Category : RBI | Comments : 0 | Hits : 495

RBI enhances scope of non-resident rupee accounts
Posted Date : 23-Nov-2019 , 10:28:08 am | Posted By CASANSAAR

To popularise cross-border transactions in Indian rupee, the Reserve Bank has enhanced the scope of 'Special Non-resident Rupee' (SNRR) by allowing persons residing outside India to open such accounts for purposes like external commercial borrowing and trade credit in INR. The RBI, in a n...

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Category : RBI | Comments : 0 | Hits : 429

RBI finally discloses list of large Wilful defaulters
Posted Date : 22-Nov-2019 , 09:53:13 am | Posted By CASANSAAR

Four years after the Supreme Court first directed the Reserve Bank of India (RBI) to disclose a list of India’s wilful defaulters, the central bank has finally complied. In response to a Right to Information (RTI) application filed by The Wire in May 2019, the RBI has released a list of 30 ...

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Category : RBI | Comments : 0 | Hits : 2220

RBI takes over DHFL board, appoints an administrator
Posted Date : 21-Nov-2019 , 10:08:35 am | Posted By CASANSAAR

The Reserve Bank of India on Wednesday superseded the board of Dewan Housing Finance Corp. Ltd (DHFL) and appointed an administrator in its place, in a step towards referring the debt-laden mortgage lender to a bankruptcy court. The regulator named R. Subramaniakumar, a former managing director a...

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Category : RBI | Comments : 0 | Hits : 190

RBI unions want govt to hike deposit insurance cover to Rs 10 lakh
Posted Date : 19-Nov-2019 , 04:45:13 pm | Posted By CASANSAAR

The Reserve Bank employees unions on Tuesday urged the government to hike the insurance cover on bank deposits from the present Rs 1 lakh to Rs 10 lakh.The demand for increasing bank deposit insurance cover, which was last revised in May 1993, has come to the fore after the ongoing crisis at Punjab ...

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Category : RBI | Comments : 0 | Hits : 160

RBI increases household income limits for borrowers of NBFC-MFIs
Posted Date : 09-Nov-2019 , 07:20:23 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Friday increased the household income limits for borrowers of NBFC-MFIs from 1 lakh to 1.25 lakh rupees for the rural areas with an aim to strengthen credit to those in the bottom of the economic pyramid. Similarly, the limit has been increased from 1.6 lakh for ur...

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Category : RBI | Comments : 0 | Hits : 480

RBI imposes Rs 5 lakh fine on Oxigen Services
Posted Date : 08-Nov-2019 , 10:39:58 am | Posted By CASANSAAR

The Reserve Bank yesterday said that it has imposed a fine of Rs 5 lakh on prepaid payment instrument Oxigen Services.  The RBI  said in a release that the move was taken in exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, for non-compliance of...

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Category : RBI | Comments : 0 | Hits : 340

RBI panel proposes stricter rules for core investment companies
Posted Date : 07-Nov-2019 , 08:12:26 am | Posted By CASANSAAR

Core investment companies (CICs) will have to form board level committees, appoint independent directors and conduct internal audits, if the Reserve Bank of India (RBI) decides to accept the recommendations of a working group formed to improve their corporate governance standards. The recommendat...

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Category : RBI | Comments : 0 | Hits : 191

RBI issues compensation norms for foreign, private banks
Posted Date : 05-Nov-2019 , 10:25:50 am | Posted By CASANSAAR

The Reserve Bank of India has issued compensation guidelines for whole-time directors and chief executives of foreign, private, small finance, payments banks and local area banks, mandating the cash component of variable pay at 67 per cent. The RBI said if the variable pay is up to 200 per cent o...

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Category : RBI | Comments : 0 | Hits : 391

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