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News Category : RBI

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 : 36

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 : 160

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 : 368

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 : 129

RBI slaps Rs 1 crore fine on Fino Payments bank
Posted Date : 06-Nov-2018 , 09:39:07 am | Posted By CASANSAAR

Mumbai-based newly-licenced bank Fino Payments Bank has been slapped a fine of Rs 1 crore by the central bank, said the Reserve Bank of India in a press note on its website on Wednesday.  “The Reserve Bank of India (RBI) has, on October 31, 2018, imposed a monetary penalty of Rs 1 cror...

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Category : RBI | Comments : 0 | Hits : 167

RBI kick-starts process to set up PCR for capturing details of borrowers
Posted Date : 04-Nov-2018 , 10:43:03 pm | Posted By CASANSAAR

The Reserve Bank has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies.  The PCR will also include data from entities like mar...

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Category : RBI | Comments : 0 | Hits : 249

RBI board to meet on 19 November to discuss key issues
Posted Date : 01-Nov-2018 , 09:32:39 am | Posted By CASANSAAR

The RBI’s Central Board, headed by Governor Urjit Patel, is scheduled to meet in Mumbai on 19 November , sources said amid reported rift between the government and the central bank over certain key issues. Sources said it is a pre-scheduled and routine meeting of the central board of the RB...

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Category : RBI | Comments : 0 | Hits : 197

RBI allows banks for fire audit of currency chests
Posted Date : 30-Oct-2018 , 09:57:24 am | Posted By CASANSAAR

The Reserve Bank has relaxed norms for the fire audit of currency chests allowing banks to get it done from approved agencies in case of shortage of staff at district fire offices.Banks maintaining currency chests are required to get fire audit done once in a two years.  In a recent notifica...

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Category : RBI | Comments : 0 | Hits : 271

RBI employees association seek central bank's autonomy
Posted Date : 30-Oct-2018 , 09:10:55 am | Posted By CASANSAAR

All India Reserve Bank Employees Association (AIRBEA) Monday expressed concern over the recent statements made by deputy governor Viral Acharya and sought autonomy of the apex bank. The association said in a statement on Monday that "Undermining the country's central bank was a recipe fo...

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Category : RBI | Comments : 0 | Hits : 141

RBI rejects Gov's proposal to ease PCA norms for banks
Posted Date : 26-Oct-2018 , 09:43:37 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has pushed back suggestions by the government nominees at its board meeting on Wednesday to ease the so-called Prompt Corrective Action (PCA) norms for banks. The regulator argued that the move had already improved the financial health of some of the lenders under str...

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Category : RBI | Comments : 0 | Hits : 297

RBI cancels licences of 31 NBFCs
Posted Date : 24-Oct-2018 , 07:39:53 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has cancelled the Certificate of Registration of 31 non-banking financial companies (NBFCs). The move comes days after the central bank eased liquidity norms for banks in order to release additional funding for NBFCs.   NBFCs have been under pressure...

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Category : RBI | Comments : 0 | Hits : 809

RBI issues guidelines to facilitate payments among PPI
Posted Date : 17-Oct-2018 , 06:04:41 pm | Posted By CASANSAAR

In a move aimed at promoting digital transactions, the Reserve Bank of India (RBI) has released operational guidelines to facilitate payments among prepaid instruments (PPI) such as mobile wallets. The guidelines, released yesterday, elaborate on requirements for achieving inter-operability for m...

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Category : RBI | Comments : 0 | Hits : 358

RBI maintains status quo, repo rate unchanged at 6.5%
Posted Date : 05-Oct-2018 , 06:16:12 pm | Posted By CASANSAAR

In a complete contrast to market and expert expectations, Reserve Bank has maintained status quo on all key policy rates in the fourth bi-monthly monetary policy review announced this afternoon. The six member monetary policy committee, MPC headed by Governor Urjit Patel decided to keep the policy r...

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Category : RBI | Comments : 0 | Hits : 529

RBI imposes penalty on Federal Bank for non-compliance of certain directions
Posted Date : 04-Oct-2018 , 08:13:25 am | Posted By CASANSAAR

Reserve Bank has imposed a penalty of five crore rupees on Federal Bank for non-compliance of certain RBI directions among other deficiencies. In a press release issued yesterday, RBI said Federal Bank had failed to report large borrower exposure for assessment under risk-based supervision.  ...

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Category : RBI | Comments : 0 | Hits : 397

RBI to infuse Rs.36,000 Cr to ease liquidity
Posted Date : 02-Oct-2018 , 03:12:54 pm | Posted By CASANSAAR

The Reserve Bank of India (RBI) has decided to infuse Rs. 36,000 through open market purchase of bonds in October as liquidity has tightened due to an uptick in loan demand in the festive season. “Based on an assessment of the durable liquidity needs going forward and the seasonal growth in...

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Category : RBI | Comments : 0 | Hits : 201

RBI eases cash reserve rules to ease liquidity
Posted Date : 28-Sep-2018 , 08:21:23 am | Posted By CASANSAAR

The Reserve Bank of India Thursday allowed banks to dip further into statutory cash reserves in a bid to ease a liquidity squeeze afflicting the nation's money markets. RBI in a statement said banks could 'carve out' up to 15 per cent of holdings under the statutory liquidity reserves...

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Category : RBI | Comments : 0 | Hits : 232

RBI slaps Rs 1 Cr fine each on UBI, BoI, BoM for delay in fraud detection
Posted Date : 08-Sep-2018 , 09:45:02 am | Posted By CASANSAAR

The Reserve Bank has imposed a total penalty of Rs 3 crore on three state-run banks of Union Bank of India, Bank of India and Bank of Maharashtra for delay in detection and reporting of fraud in some accounts.  The central bank in three separate releases Friday said it has imposed a penalty ...

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Category : RBI | Comments : 0 | Hits : 411

RBI deadline over, 20 new NPA accounts to go to NCLT
Posted Date : 29-Aug-2018 , 08:58:01 am | Posted By CASANSAAR

As the deadline set by the Reserve Bank of India (RBI) for resolution of stressed assets ended Monday, lenders have decided to refer 20 of at least 32 NPA accounts to bankruptcy courts, according to two bankers aware of the matter. For the remaining 12 NPA accounts, lenders will either restructure t...

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Category : RBI | Comments : 0 | Hits : 1489

New RBI unit to track blockchain and Artificial Intelligence
Posted Date : 28-Aug-2018 , 08:25:41 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has formed a new unit within the central bank to beef up its own intellectual capital in the face of emerging technologies like cryptocurrency, blockchain and artificial intelligence.  This new unit will research and possibly draft rules and supervise new emer...

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Category : RBI | Comments : 0 | Hits : 397

60 stressed loan accounts worth Rs3 lakh crore under RBI scanner
Posted Date : 27-Aug-2018 , 07:55:13 am | Posted By CASANSAAR

As RBI’s August 27 deadline to resolve large stressed assets looms large, the Indian banking system is all set to face another round of insolvency proceedings. As per a circular issued on February 12, the RBI asked banks to begin the resolution of stressed loans at the earliest when there i...

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Category : RBI | Comments : 0 | Hits : 435

RBI staff to go on mass leave on Sept 4, 5 over pension issues
Posted Date : 20-Aug-2018 , 09:06:38 pm | Posted By CASANSAAR

The United Forum of Reserve Bank Officers and Employees today said its members will go on mass casual leave on September 4 and 5, pressing their long-pending demands over pension related issues. According to a press release, United Forum today held a silent demonstration near the RBI office here ...

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Category : RBI | Comments : 0 | Hits : 279

RBI puts 200 stressed accounts under scanner
Posted Date : 16-Aug-2018 , 08:49:33 am | Posted By CASANSAAR

As part of its effort to contain rising non-performing assets (NPAs), the RBI has started scrutiny of 200 large accounts to assess level of stress and provisioning done against them by respective banks. Reserve Bank of India (RBI) is examining as to whether banks have followed prudential norms in...

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Category : RBI | Comments : 0 | Hits : 932

RBI net sells USD 6.184 bn of US currency in June
Posted Date : 13-Aug-2018 , 11:51:15 am | Posted By CASANSAAR

According to data released by Reserve Bank, the apex bank continued to remain net seller of the US currency for the third consecutive month in June this year, after it sold USD 6.184 billion of the US dollar in the spot market. In this month, RBI bought USD 4.020 billion of the US dollar, while s...

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Category : RBI | Comments : 0 | Hits : 349

Govt appointed CA S Gurumurthy and Satish Marathe to RBI Board
Posted Date : 08-Aug-2018 , 08:30:52 am | Posted By CASANSAAR

The government on Tuesday appointed CA S Gurumurthy and Satish Marathe patron of Sahakar Bharathi as part-time directors on the Reserve Bank of India (RBI) board after an approval from the appointments committee of the cabinet. Both appointments are for a four year term.  In a release the go...

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Category : RBI | Comments : 0 | Hits : 727

RBI must resume issuing LoUs, LoCs, says parliamentary panel
Posted Date : 07-Aug-2018 , 05:48:01 am | Posted By CASANSAAR

The Reserve Bank of India’s decision to discontinue the issuance of Letters of Undertaking (LoU) and Letters of Credit (LoC) for trade credit was a “knee-jerk reaction” to the Punjab National Bank fraud case and the facility should be restored at the earliest, the Parliamentary Sta...

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Category : RBI | Comments : 0 | Hits : 294

RBI to unveil norms on co-origination of loans
Posted Date : 02-Aug-2018 , 09:07:50 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Wednesday said it will soon release guidelines on what it called co-origination of loans by banks and non-bank finance companies (NBFCs) for the priority sector. Bankers said the move could help banks meet priority sector lending targets in a more convenient and or...

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Category : RBI | Comments : 0 | Hits : 765

RBI hikes repo rates by 25 basis points
Posted Date : 02-Aug-2018 , 08:43:22 am | Posted By CASANSAAR

The Monetary Policy Committee, MPC, of the Reserve Bank of India today hiked repo rate by 25 basis points to 6.50 per cent in its third bi-monthly monetary policy review of 2018-19.  For the second consecutive time, the six-member MPC headed by RBI Governor Urjit Patel has hiked the key poli...

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Category : RBI | Comments : 0 | Hits : 267

RBI begins simultaneous annual financial inspections for banks
Posted Date : 01-Aug-2018 , 09:27:22 am | Posted By CASANSAAR

he Reserve Bank of India (RBI) has begun simultaneous Annual Financial Inspections (AFIs) for banks for the 2017-18 financial year with an aim to collate a system-wide note on how much banks are underreporting on bad assets. The review of asset quality is a key element in this exercise. The centr...

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Category : RBI | Comments : 0 | Hits : 916

Cash-on-delivery deals by e-commerce firms not authorised - RBI
Posted Date : 25-Jul-2018 , 08:27:41 am | Posted By CASANSAAR

Cash-on-delivery (CoD) method of payment option provided by online retailers such as Flipkart and Amazon may be a regulatory grey area as per the Reserve Bank of India's (RBI's) response to a Right to Information (RTI) query, according to a report in The Economic Times. The RBI, in a resp...

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Category : RBI | Comments : 0 | Hits : 447

RBI to hold joint Audit of credit rating agencies with SEBI
Posted Date : 20-Jul-2018 , 08:20:07 am | Posted By CASANSAAR

Credit rating agencies will come under closer regulatory watch amid corporates battling bankruptcies, lenders taking hefty haircuts, and banks trying to prune sticky loans. The Reserve Bank of India (RBI) will conduct regular audit and inspection of rating agencies whose actions can significantly in...

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Category : RBI | Comments : 0 | Hits : 400

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