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 : Explore the potential impacts of RBI's proposed draft Import/Export framework on business operations and foreign trade in India....
Fema / RBI : Discover RBI's liberalized remittance rules for IFSCs under LRS, allowing all permissible transactions. Learn about IFSCs, LRS eli...
Fema / RBI : RBI new circular allows resident individuals to remit funds to IFSCs for all permissible LRS purposes, boosting financial services...
Fema / RBI : Explore NBFC Fair Practice Code under RBI Scale Based Regulations. Learn about guidelines, transparency, customer rights, and grie...
Fema / RBI : FLA return is annual return required to be submitted by following entities which have received FDI and/or made FDI abroad (i.e. ov...
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 : Explore FAQs on Credit Card Issuance, Activation, Usage, and Complaints. Understand rules, rights, and procedures in the Master Di...
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 : Discover the 2024 Master Directions from RBI detailing fraud risk management guidelines for NBFCs. Learn about governance, early w...
Fema / RBI : Explore RBI latest Master Directions on Fraud Risk Management in Urban Cooperative Banks (UCBs), State Cooperative Banks (StCBs), ...
Fema / RBI : Explore RBI's latest Master Directions on Fraud Risk Management for Banks & AIFIs. Learn about governance, early detection framewo...
Fema / RBI : The RBI has withdrawn several outdated circulars to streamline and simplify banking guidelines. Learn about the changes and their ...
Fema / RBI : Read about RBI's latest circular on Liberalised Remittance Scheme (LRS) allowing expanded remittances to IFSCs, implications, and ...
Please refer to our circular RPCD.No.NB.BC.124/RRB.16/90-91 dated May 29, 1991 in terms of which demand drafts, mail transfers, telegraphic transfers and travellers cheques for Rs.50,000/- and above should be issued by banks only by debit to the customer’s account or against cheques or other instruments tendered by the purchaser and not against cash payment.
The upheaval in domestic markets that followed the US economic downgrade notwithstanding, RBI on Friday said the liquidity in the Indian banking system was not under stress and the central bank was monitoring the situation closely.
The Reserve Bank today said the option of going for another round of rate hike at its next mid-quarterly policy review in September do exist as inflationary pressure continues in the economy.
In order to ensure availability of sufficient credit to MSE Sector, Banks have been advised by RBI to achieve the following targets: i) 60% of MSE advances for Micro Enterprises by 2012-13, to be achieved in three stages: i.e. 50% by 2011, 55% in 2012 & 60% in 2013. ii) Banks are advised to achieve a 20% year-on-year growth in credit to micro and small enterprises. iii) Banks are advised to achieve 10% annual growth in the number of micro enterprises accounts.
The Reserve Bank of India today released on its website the results of quarterly Survey of Professional Forecasters on major macroeconomic indicators of short to medium term economic developments. The survey round relates to the first quarter of 2011-12, that is, April-June 2011. Done through a questionnaire responded by 30 forecasters who participated in this round, the survey covered component-wise detailed forecasts of GDP growth, inflation, savings, capital formation, consumption expenditure, export, import, interest rates, money supply, credit growth, stock market movements, corporate profit, etc.
As you are aware, Electronic Benefit Transfer (EBT) for servicing low value accounts and extending banking infrastructure to underserved low income areas has been implemented in the states of Andhra Pradesh, Haryana, Karnataka, Orissa, Chhattisgarh, Himachal Pradesh, Uttarakhand, Bihar, Punjab, etc. on pilot basis in select districts under the ‘One District – One Bank’ Model. Difficulties have been expressed by stake holders in scaling the model. RPCD.CO.BC.FID.No. 16/12.01.019/2011-12
As you are aware, RTGS and NEFT are two important pan-India payment systems introduced by Reserve Bank of India keeping in mind the requirements of various customers in the wholesale and retail payment systems segment. Both these systems have distinct objectives and unique features in terms of the time criticality of payments, threshold value of transactions, mode of settlement etc. As such, the charges levied for transactions in the two systems are also different. The customers in turn, should be empowered to exercise the choice between these two systems depending upon their requirements.
The Reserve Bank of India today released the August issue of its Monthly RBI Bulletin. The August Bulletin carries four special articles: Developments in India’s Balance of Payments during Fourth Quarter (January-March) of 2010-11 India’s External Debt as at end-March 2011 Inflation Expectations Survey of Households: June 2011 (Round 24) Quarterly Industrial Outlook Survey: April-June 2011 (Round 54).
Parliament on Thursday permitted the government to mint coins of Rs 1,000 denomination even as nostalgia over withdrawal of 25 paise coins (chawani) was witnessed among Rajya Sabha members. The Coinage Bill, 2009 passed by the Upper House, limits payment by an individual through coins up to Rs 1,000, Finance Minister Pranab Mukherjee said, replying to a debate on it.
In terms of our circular DBOD.No.BP.BC.57/ 21.4.157/2008-09 dated October 13, 2008, the overdue receivables representing positive mark to market value of a derivative contract would be treated as a non-performing asset (NPA), if these remain unpaid for 90 days or more. In that case, all other funded facilities granted to the client should also be classified as NPA following the principle of borrower-wise classification as per the existing asset classification norms. As the overdue receivables would represent unrealised income already booked by the bank on accrual basis in the ‘Profit and Loss Account’, such amount should be reversed after 90 days of overdue period, and held in a ‘Suspense Account-Crystalised Receivables’ in the same manner as done in the case of overdue advances. DBOD.No.BP.BC. 28 / 21.04.157 / 2011-12
