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Reserve Bank of India (RBI) has issued instructions to banks regarding the safety of bank lockers for exercising due care and necessary precaution for the protection of the lockers provided to the customer, reviewing the systems in force for their operation on an ongoing basis and taking necessary steps, having well-documented security pr...
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With regard to Statutory Audit, Reserve Bank of India (RBI) has informed that it has issued Guidelines for appointment of Statutory Central Auditors (SCAs) and Statutory Branch Auditors in Public Sector Banks (PSBs), which covers the norms on eligibility, empanelment and selection as well as the procedure for appointment of such auditors....
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The Gross Advances of Scheduled Commercial Banks (SCBs) increased from Rs.25,03,431 crore as on 31.3.2008 to Rs. 68,75,748 crore as on 31.3.2014, as per the Global Operations Data of the Reserve Bank of India (RBI). As per RBI inputs, the primary reasons for spurt in stressed assets have been observed to be, inter-alia, aggressive lendi...
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Regular monitoring of cash availability and ATM functionality has been done by the Government to ensure that sufficient currency notes are made available so that ATMs do not run dry in any eventuality and people do not face any problems....
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The gross NPA ratio for Public Sector Banks (PSBs) as a category is 14.6% in the financial year (FY) 2017-18, as per Reserve Bank of India (RBI) data. In the last 25 financial years, the gross NPA ratio for PSBs was highest in FY 1993-94 at 24.8% and was also higher in six other financial years....
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Press Release: 2018-2019/34 -
Reserve Bank of India has been periodically reiterating about the activities of unscrupulous elements using the name of RBI and defrauding the common public. These elements use fake letter heads of RBI, send emails impersonating as employees of RBI and lure people with fictitious offers / lottery winnings / remittance of cheap funds in fo...
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ICSI has come up with Exposure Draft of ICSI Guidance on Diligence Report on Governance for Banks. The Draft was released at the golden Jubilee Year National Conference of Practicing Company Secretaries (19th Edition) held at The LaLiT, Mumbai during May 18-19, 2018....
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There has been unusual spurt in currency demand in the country in last three months. In the current month, in the first 13 days itself, the currency supply increased by Rs.45000 crores. This unusual spurt in demand is seen more in some parts of the country like Andhra Pradesh, Telangana, Karnataka, MP and Bihar....
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Describing the RBI move to explore and examine introduction of official virtual currency in the country, the ASSOCHAM has, however, cautioned that extreme care be taken to ensure safety of the data trail that the crypto currency can leave as it changes hands through a range of electronic devices and platforms....
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Linking of SWIFT to the Core Banking System Department of Economic Affairs has apprised that in pursuance to the announcement made in the Budget Speech 2018-19 (para75), a Steering Committee on Fintech related issues was constituted to consider various issues relating to development of Fintech space in India with a view to make Fintech re...
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