Fema / RBI news

Railway official booked for accepting demonetized currency notes

Cbi registers a case against an official of itarsi railway station and others for allegedly depositing old notes of rs.61 lakh (approx).The accused cheated the Government by accepting the licence fee in cash in the form of demonetized currency notes in violation of Government notification....

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Case against two SBI officials for alleged violation of RBI guidelines

It was alleged that during the period between 15.11.2016 and 25.11.2016, the Senior Special Assistant and Deputy Manager (Operations) of State Bank of India entered into a criminal conspiracy while the restrictions on distribution of currency notes due to demonetization were in force....

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Posted Under: Fema / RBI |

Branches of SBBJ, SBH, SBM, SBP & SBT to operate as SBI branches

All branches of State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT) will function as branches of State Bank of India from April 1, 2017....

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CBI arrests post office officials in illegal currency exchange case

The Central Bureau of Investigation has arrested a Director, Postal Services and Senior Superintendent of Posts, Ahmedabad (Gujarat) in an on-going investigation of a case....

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Rs.10 denomination plastic banknote to be reality soon

Government to conduct field trial with plastic banknotes at five locations of the country; Approval for procurement of plastic substrate and printing of bank notes of Rs. 10 denomination on plastic banknote substrates conveyed to RBI It has been decided to conduct a field trial with plastic banknotes at five locations of the country. Appr...

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Brief guideline on Small Finance and Payment Banks

(RBI issued guidelines for licensing of small finance banks and payments banks on November 27, 2014 and granted in-principle approvals to 10 applicants to set up small finance banks and to 11 applicants to set up payments banks. ...

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Posted Under: Fema / RBI |

Cybercrime audit on banks to check loopholes

To address the issue of cyber resilience, RBI vide circular dated December 9, 2016 had instructed all authorised entities / banks issuing PPIs in the country to: (i) Carry out a special audit by the empanelled auditors of Indian Computer Emergency Response Team (CERT-In) on a priority basis and take immediate steps thereafter to comply [&...

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Posted Under: Fema / RBI |

NPAs slowed down in Q4 of Current Financial Year: FM

FM: Rate of increase of Non Performing Assets (NPAs) has slowed down in the last Quarter of the Current Financial Year; Government is taking sector specific measures to deal with the problem of NPAs;...

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Posted Under: Fema / RBI |

FDI in trading of Food Products

Ministry of Food Processing Industries has held three meetings on 17.03.2016, 03.08.2016 and 27.02.2017 with Ambassadors and High Commissioners in India of various foreign countries namely Australia, China, Canada, France, Indonesia, Japan, Korea, Netherland, Poland, Russia, Singapore, UK, New Zealand, UAE, Thailand, Germany, Belgium, Bra...

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Posted Under: Fema / RBI |

Scheduled Banks free to determine savings bank deposit interest rate

RBI has informed that the Scheduled Commercial Banks are free to determine their savings bank deposit interest rate, with the approval of their respective Board of Directors, subject to the following two conditions:- ...

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Posted Under: Fema / RBI |
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