RBI Circular Notification Press Release and Instructions issued by Reserve bank of India. News and Article on provisions, Rate changes, Policy changes and FAQ
Fema / RBI : Understand DICGCs role in insuring bank deposits up to ₹5 lakh. Learn about compliance requirements, premium calculations, and p...
Fema / RBI : RBI cautions banks and NBFCs on non-compliance with regulatory standards, highlighting risks associated with rapid home equity loa...
Fema / RBI : Learn the FLA return filing process for Indian companies and LLPs with foreign investments. Mandatory by July 15 annually. Avoid p...
Fema / RBI : RBI keeps repo rate unchanged at 6.5%, projects 7.2% GDP growth for 2024-25. Introduces public depository for digital lending apps...
Fema / RBI : RBIs August 2024 meeting keeps repo and SDF rates unchanged. Focus on reducing inflation and enhancing credit reporting. Impact on...
Fema / RBI : Details on penalties for not maintaining AMB in savings accounts, criteria for calculation, and government's stance on rationalizi...
Fema / RBI : Discover RBI's third global hackathon, 'HaRBInger 2024 - Innovation for Transformation,' aimed at enhancing India's financial land...
Fema / RBI : The ability for cardholders to determine their billing cycle signifies that credit cards are not merely tools for cashless transac...
Fema / RBI : Explore the comprehensive regulatory insights shared by Shri M. Rajeshwar Rao, Deputy Governor of the Reserve Bank of India, focus...
Fema / RBI : Explore how the Reserve Bank of India is fostering self-regulation through SROs, setting industry standards, and enhancing complia...
Fema / RBI : RBI directs NBFCs to adhere to a Rs 20,000 cash loan disbursement limit, aiming to regulate cash transactions and enforce complian...
Fema / RBI : Lender Banks Required to Provide Audit Reports to Borrowers and Allow Representation Before Classifying Accounts as Fraud, Along w...
Fema / RBI : Lawyers empanelled by the banks to represent them in cases did not hold a civil post and thus the laws of reservation would not be...
Fema / RBI : Assessee-company was engaged in the business of providing unsecured short-term loans to its customers/borrowers in India via its D...
Fema / RBI : Delhi High Court granted the bail application in the extortion case concluding that merely because the petitioner has been alleged...
Fema / RBI : The Banking Laws (Amendment) Bill, 2024 revises key provisions in the Reserve Bank of India Act, Banking Regulation Act, and relat...
Fema / RBI : RBI's 2024 amendment to FEMA regulations allows foreign investors to buy Sovereign Green Bonds in India’s IFSC and remit proceed...
Fema / RBI : RBI revises risk weights for Housing Finance Companies, capping undisbursed loan risk weights and adjusting risk weights for comme...
Fema / RBI : RBI revises regulations for HFCs and NBFCs, harmonizing deposit acceptance norms and enhancing liquidity requirements as of August...
Fema / RBI : RBI maintains policy repo rate at 6.50% in August 2024. Focus on controlling inflation while supporting growth. Projected GDP grow...
Central Government hereby extend the period for which small account shall remain operational till 31st December, 2021 under Prevention of Money-laundering (Maintenance of Records) Rules, 2005. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 30th June, 2021 G.S.R. 461(E).—In exercise of the powers conferred by clause (iiia) of sub-rule(5) of rule 9 of […]
The Foreign Exchange Management Act, 1999 (FEMA) is an act of the Parliament of India to consolidate and amend the laws relating to foreign exchange with the objective of facilitating external trade & payments and promoting the orderly development and maintenance of foreign exchange market in India. Section 15 of Foreign Exchange Management Act (FEMA), […]
Reserve Bank of India (RBI), based on discussion paper on ‘Governance in Commercial Banks in India’ in June, 2020 and feedback thereon, RBI has carried out a comprehensive review of Governance framework to address operative aspects. RBI has issued instructions in relation to the following aspects of board governance: -Chairman of Board -Board meetings -Board […]
RBI imposes monetary penalty on The Ahmedabad Mercantile Co-operative Bank Ltd., Ahmedabad, Andhra Pradesh Mahesh Co-operative Urban Bank Ltd., Hyderabad, Saraswat Co-operative Bank Ltd., Mumbai, and SVC Co-operative Bank Ltd., Mumbai. Text of the relevant press Releases are as follows:- Reserve Bank of India RBI imposes monetary penalty on The Ahmedabad Mercantile Co-operative Bank Ltd., […]
Co-operative banks are advised to conduct a self-assessment of their existing outsourcing arrangements and bring the same in line with Guidelines for Managing Risk in Outsourcing of Financial Services by Co-operative Banks within a period of six months from the date of issue of this circular.
The recent directions issued by RBI vide its communications dated June 25, 2021 settles the dust over the appointment of Managing Director (MD) / Whole-Time Director (WTD) in Primary (Urban) Co-operative Bank. Let me introduce you to their communication as under: https://taxguru.in/rbi/rbi-directions-appointment-md-wtd-primary-urban-co-op-banks.html With plethora of mis handling in Co-operative sector, the eagerly awaited instructions from […]
Fraud can be defined as, ‘a deliberate act of omission or commission by any person, which has been carried out in the course of a banking transaction or in the books of accounts maintained manually or under computer system in banks, thereby resulting into wrongful gain to any person for a temporary period with or without any monetary loss to the bank’.
Directions under Section 35-A of the Banking Regulation Act, 1949 (AACS) – Punjab and Maharashtra Cooperative Bank Limited, Mumbai, Maharashtra – extension of validity period of Directions
The existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) of the MSMEs obtained till June 30, 2020 shall remain valid till December 31, 2021. Reserve Bank of India RBI/2021-2022/63 FIDD.MSME & NFS.BC.No.12/06.02.31/2021-22 June 25, 2021 The Chairman/ Managing Director/Chief Executive Officer All Commercial Banks (including Small Finance Banks, Local Area Banks and […]
Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2021- On a review based on representations received, the prudential borrowing limits for transactions in Call, Notice and Term Money Markets have been revised.
