reserve bank of india

Empirical research shows that better developed financial systems accelerate economic growth and shrink income inequality by disproportionately increasing the earnings of lower income families2 i.e. enabling growth with equity, which is so vital for our country. A well developed financial system will require sound legislative framework because, legislation is the foundation on which institutional frameworks stand. To be effective, legislation not only needs to be unambigu.. Full Article

As you may perhaps be aware, the United Nations has declared the year 2012 as the International Year of Cooperatives and, to my mind, this is precisely what makes today’s Central Zone Cooperative Conference, both contextually and topically, very relevant and it will culminate, I am sure, in most desired outcomes going forward ! And it will be no exaggeration to say that India has been among the pioneering nations in the matter of genesis, and democratic evolution, of a.. Full Article

The Reserve Bank of India, RBI, has cautioned the public against falling prey to fictitious offers of cheap funds that are rampant in recent times. In a press statement at Guwahati, the RBI said, the fraudsters often lure the public in the form of lottery prize money through letters, e-mails, SMS etc. It said such fraudulent communications were even sent on fake letterheads of the Reserve Bank of India or other reputed organizations, purportedly signed by their top execu.. Full Article

The Reserve Bank of India in exercise of powers vested in it under Section 45MB (1) and 45 MB (2) of the Reserve Bank of India Act, 1934, has prohibited with immediate effect Money Masters Leasing & Finance Limited, having its registered office at 1/18, Rizvi Park, S.V.Road, Santacruz (W), Mumbai–400054 from accepting public deposits from any person in any form whether by way of fresh deposits or renewal of the deposits or otherwise as well as from selling, transferri.. Full Article

The recent past has been a challenging time for the banking sector in India. You, along with the entrepreneurs, have coped well with these challenges and have emerged stronger from a difficult phase. While the banking sector has responded well so far, there are several challenges that lie ahead. Our banking system needs to equip itself to deal with emerging challenges and be prepared to cash in on the opportunities unleashed by higher growth. In dealing with the needs of.. Full Article

The development of the accounting profession owes its origin to the emergence of the joint stock company and the consequent separation of ownership from management. This arrangement triggered the need for an independent and informed opinion on the accounting of the owners’ funds entrusted to the management for their stewardship. The “raison d’etre” of the profession is consequently based on the confidence which the profession enjoys with the Full Article

Reserve Bank of India (RBI) has reported that there were 25 complaints received in RBI regarding receipt of counterfeit currency notes through ATM during the period from 1.7.2008 to 31.10.2011 as detailed in the Annexure. All the complaints have been disposed in appropriate manner as indicated against each. Full Article

The Reserve Bank today swung into action to check slide in rupee value against dollar and speculations. It has imposed restrictions with immediate effect on forward trading in the local currency by Foreign Institutional Investors and traders and capped banks exposure to the forex market. The Reserve Bank has also decided to withdraw the facility of re-booking forex contracts by companies and reduced across-the board exposure limits of banks which are authorised to deal i.. Full Article