RBI Circular Notification Press Release and Instructions issued by Reserve bank of India. News and Article on provisions, Rate changes, Policy changes and FAQ
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Central Government hereby directs all persons who are either registered or who have sought prior permission under the FCRA,2010 shall open their bank accounts as mandated in section 17 of the FCRA,2010 in one or more of the banks in the enclosed list.
The eighth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act, 1934, was held on December 5 and 6, 2017 at the Reserve Bank of India, Mumbai.
The Reserve Bank of India, today, released the Annual Report of the Banking Ombudsman Scheme for the year 2016-2017.
According to Section 215 of Insolvency and Bankruptcy Code (IBC), 2016, a financial creditor shall submit financial information and information relating to assets in relation to which any security interest has been created, to an information utility (IU) in such form and manner as may be specified by regulations.
In the wake of 1991 wave of economic reforms FIPB was formed under the Prime Ministers Office. In 1996, it was put under the control of Department of Industrial Policy and Promotion (DIPP) and, in 2003
Government’s assurance that depositors’ interest in case of a bank going down under would be fully protected should be clearly and unambiguously spelt out in the Financial Resolution and Deposit Insurance (FRDA) Bill and a clause that seeks to treat depositors as other creditors and shareholders for bail- in, must be removed, the ASSOCHAM said today.
Banks must ask their customers to mandatorily register for SMS alerts and, wherever available, register for e-mail alerts, for electronic banking transactions. The SMS alerts shall mandatorily be sent to the customers, while email alerts may be sent, wherever registered.
When the existing system is fine and there is nothing to fear about, then why need for a new Financial Resolution and Deposit Insurance (FRDI) Bill in the present form and substance ?
In case the client already having an account based relationship with reporting entities prior to the date of publication of this notification in the official Gazette fails to submit the Aadhaar number and Permanent Account Number by such date as may be notified by the Central Government, the said account shall cease to be operational till the time the Aadhaar Number and Permanent Account Number is submitted by the client.”
The limits for investment by FPIs for the quarter January – March 2018 is increased by INR 64 billion in Central Government Securities (Central G-Secs) and INR 58 billion in State Development Loans (SDLs).