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Steps taken for Prevention of Fraudulent Banking Practices

. Government has issued Framework for timely detection, reporting, investigation etc. relating to large value bank frauds to Public Sector Banks (PSBs) for systemic and comprehensive checking of legacy stock of their non-performing assets (NPAs), which provides, inter-alia, that—...

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Posted Under: Fema / RBI |

CBI Searches At 187 Places in bank fraud cases of Rs. 7200 Crore

CBI has registered around 42 cases of bank frauds involving Rs. 7200 crore (approx.). The banks involved (including consortium members) are Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, SBI, Allahabad Bank, Canara Bank, Dena Bank, Punjab & Sind Bank, Punjab National Bank, Central Bank of India, Union Bank of India, IDBI Ba...

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Posted Under: Fema / RBI |

RBI supersedes Board of PMCB Bank Ltd. Mumbai

RBI vide its order dated 23rd September, 2019 superseded the Board of Punjab and Maharashtra Cooperative Bank Ltd. Mumbai and Shri Jai Bhagwan Bhoria has been appointed as the Administrator of the bank by RBI with all the powers of the Board....

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Posted Under: Fema / RBI |

Draft RBI Guidelines for ‘on tap’ Licensing of Small Finance Banks in Private Sector

Reserve Bank of India Draft Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector September 13, 2019 I. Introduction The Reserve Bank had issued the Guidelines for Licensing of ‘Small Finance Banks‘ in  the Private Sector on November 27, 2014. The process of licensing culminated in granting in-pri...

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Posted Under: Fema / RBI |

Trade War: Is it a prelude to deglobalisation?

The forex market is unique in several ways. A foreign currency is essentially a commodity outside its jurisdiction and therefore has attributes of an asset. But the exchange rate, the price of the foreign currency normalised to the home currency is an important macroeconomic variable that ought to be determined by economic fundamentals an...

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Posted Under: Fema / RBI |

Statement by Governor -Third BI-monthly Monetary Policy, 2019-20

Reserve Bank of India The Monetary Policy Committee (MPC) met on 5th, 6th and 7th August, 2019 and deliberated over the evolving macroeconomic outlook, against the backdrop of recent developments and incoming data. Today, the MPC voted unanimously to reduce the policy repo rate and to maintain the accommodative stance of monetary policy. ...

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Posted Under: Fema / RBI |

Comprehensive steps to reduce incidence of frauds in banks

The Government has taken comprehensive steps to reduce the incidence of frauds in banks. The steps taken include, inter-alia, the following: Government has issued Framework for timely detection, reporting, investigation relating to large value bank frauds to Public Sector Banks (PSBs), for systemic and comprehensive checking of legacy s...

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Posted Under: Fema / RBI |

Banks collect 3309 crore as Minimum Balance Penalty in 2018-19

As apprised by eighteen Public Sector Banks (PSBs) and four major private sector banks, the amount collected through the levy of charges for non-maintenance of minimum balance in Savings Bank account, during the last three financial years, are as under:...

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Posted Under: Fema / RBI |

Steps to Bring Potential Borrowers under Credit Net

Eligibility for credit is a function of a potential borrower’s repayment capacity and creditworthiness. Repayment capacity is assessed on the basis of both income and expenditure cash flows, as well as assets and liabilities. Further, creditworthiness is reflected in the borrower’s track record in meeting credit and other payment obli...

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Posted Under: Fema / RBI |

NPAs of Nationalised Banks started declining 

Loans written-off from Balance Sheets of PSBs; As A result of Government’s 4R’s Strategy of Recognition, Resolution, Re-capitalisation and Reforms, NPAs of Nationalised Banks have started declining ...

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Posted Under: Fema / RBI |