reserve bank of india

All About 1st RBI monetary Policy for the FY 2021-22

Fema / RBI - RBI In its first monetary Policy meeting for the Financial Year 2021-22 decided to keep the policy rates unchanged and also continued to maintain the accommodative stance as long as necessary to sustain growth on a durable basis. The said meeting held for three days from 05th April to 07th April 2021 and the outcome of the meeting has com...

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Common Mistakes while doing Overseas Direct Investment & judicial proceedings

Fema / RBI - With the aim of diversifying the business abroad, Overseas direct investments (ODI) are undertaken as significant means for developing economies and emerging markets where companies need funding and expertise to expand their international sales. The importance of ODI can be accurately measured by the innumerable benefits like better econ...

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Why Neo Banks are the need of the hour?

Fema / RBI - Addressing the Need-gaps: Why Neo Banks? Today, customer expectations and behaviors have changed dramatically. Banks haven’t. Simply put, the global banking sector has fallen short in keeping up with customer needs. ...

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Reserve Bank of India (Digital Payment Security Controls) directions, 2021

Fema / RBI - Reserve Bank of India vide its statutory powers vested has issued the above directions which are applicable to all scheduled commercial banks (excluding Regional Rural Banks), Small finance banks, Payments banks and Credit card issuing NBFCs. They are reproduced from their website as under for those who intend referring to these complex t...

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Customer service in Banks – Redressal of complaints: Recent RBI guidelines

Fema / RBI - I am not amused by the recent directions issued by the Reserve Bank of India vide its communication dated RBI/2020-21/87 CEPD.CO.PRD. Cir. No.01/13.01.013/2020-21 dated January 27, 2021, titled ‘RBI releases framework for strengthening the grievance redress mechanism in banks’ with the following objective. “It has been decid...

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RBI Committee Recommends Conversion of Large NBFCs into Banks & Entry of Corporates

Fema / RBI - In a series of recommended proposals, an internal working group (IWG) of the Indian Central Bank (Reserve bank of India) has suggested increasing the existing cap on stake owned by corporate houses in the bank. This will facilitate the guarded entry of corporates into the banking system. The committee also suggested conversion of giant NB...

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Gold Card Scheme for Creditworthy Exporters

Fema / RBI - Gold Card Scheme for Creditworthy Exporters Exports play a crucial role in a developing economy like India which attaches considerable importance to export promotion. As a part of the overall strategy of export promotion measures, the Reserve Bank of India has taken various steps to ensure expeditious and timely provision of financial ass...

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No Current Account In Banks for CC/OD Customers?

Fema / RBI - RBI on August 06, 2020, barred banks from opening current accounts for customers who have availed cash credit or overdraft facilities from any bank. RBI has taken this measure with a view to improve credit discipline. In a notification, the central bank said that rather than opening a new current account, all transactions should be [&hell...

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Indian Economy at a Crossroad: A view from Financial Stability Angle

Fema / RBI - he outbreak of COVID-19 pandemic is unambiguously the worst health and economic crisis in the last 100 years during peace time with unprecedented negative consequences for output, jobs and well-being. It has dented the existing world order, global value chains, labour and capital movements across globe and needless to say, the socio-econo...

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RBI extends FLA 2020 due date to 31st July 2020

Fema / RBI - Submission of annual return on FLA through the web-based FLAIR portal for financial year 2019-20 has been started. Entities which are filing FLA return for the first time/ with revised UIN (Unique identification number) are required to register themselves first for generating login credentials and they can file FLA return. However, the en...

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SC Lays Down Guidelines for Operation & Safety of Lockers

Amitabha Dasgupta Vs United Bank of India & Ors.  (Supreme Court Of India) - Amitabha Dasgupta Vs United Bank of India & Ors.  (Supreme Court Of India) Hon’ble SC held atht irrespective of the value of the articles placed inside the locker, the bank is under a separate obligation to ensure that proper procedures are followed while allotting and operating the...

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SC refuses to interfere with period of validity of cheque

In re Cognizance for Extension of Limitation (Supreme Court) - In re Cognizance for Extension of Limitation (Supreme Court) With reference to the prayer, that the period of validity of a cheque be extended, we find that the said  period has  not  been  prescribed by  any Statute but  it  is  a  period  prescribed by the Reserve Bank of India under Sec...

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Covid-19: HC restrains bank from taking coercive action for default in factoring facility

Eastman Auto & Power Limited Vs RBI (Delhi High Court) - The object of issuing notifications/circulars dated 27.03.2020 and 17.04.2020 was to provide financial relief in repayment due to COVID-19 to the parties who have availed the term loans and working capital facilities but this relief is not extended towards factoring facilities....

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RBI’s circular directing bank to take recourse to IBC is ultra vires to section 35AA

Dharani Sugars And Chemicals Ltd. Vs Union of India & Ors. (Supreme Court of India) - Hon'ble Supreme Court held that RBI Circular directing bank to take recourse to Insolvency and Bankruptcy Code (IBC)  is ultra vires to Section 35AA of the Banking Regulation Act....

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No advocate / chartered accountants can represent willful defaulter

Revati Cements Pvt. Ltd & Anr. Vs State Bank of India & Ors. (Madhya Pradesh HC) - Assessee-company being a ‘willful defaulter’ could not be represented through the lawyers or Chartered Accountants as the personal hearing was available only to borrower Director and Promoter of the alleged default unit....

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RBI releases Draft Circular on Declaration of Dividend by NBFCs

Press Release: 2020-2021/750 - (09/12/2020) - Reserve Bank of India has released today the Draft Circular on Declaration of Dividend by NBFCs. Comments on the Draft Circular are invited from NBFCs, industry participants and other interested parties by December 24, 2020....

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RBI places Lakshmi Vilas Bank under Moratorium

Press Release: 2020-2021/645, Notification No. S.O. 4127(E), Order No. DOR/PSBD.No.1406/16.01.067/2020-21 - (17/11/2020) - Reserve Bank of India Date : Nov 17, 2020 The Lakshmi Vilas Bank Ltd. placed under Moratorium The financial position of The Lakshmi Vilas Bank Ltd. (the bank) has undergone a steady decline with the bank incurring continuous losses over the last three years, eroding its net-worth. In absence of any ...

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Ratios which banks must consider for finalizing resolution plan of eligible borrowers

Circular No. RBI/2020-21/34 DOR.No.BP.BC/13/21.04.048/2020-21 and Press Release: 2020-2021/298 - (07/09/2020) - All lending institutions shall mandatorily consider the following key ratios while finalizing the resolution plans in respect of eligible borrowers under Part B of the Annex to the Resolution Framework:...

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RBI releases Financial Stability Report, July 2020- Highlights

Press Release: 2020-2021/96 - (24/07/2020) - Reserve Bank released the 21st Issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, and the resilience of the financial system in the context of contempo...

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Banking Regulation (Amendment) Bill, 2020

Bill No. 56 of 2020 - (03/03/2020) - Government introduces Banking Regulation (Amendment) Bill, 2020 in Lok Sabha to bring the co-operative banks on par with the developments in the banking sector through better management and proper regulation of co-operative banks with a view to ensure that the affairs of the co-operative banks are c...

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reserve bank of india’s Popular Posts

Recent Posts in "reserve bank of india"

All About 1st RBI monetary Policy for the FY 2021-22

RBI In its first monetary Policy meeting for the Financial Year 2021-22 decided to keep the policy rates unchanged and also continued to maintain the accommodative stance as long as necessary to sustain growth on a durable basis. The said meeting held for three days from 05th April to 07th April 2021 and the outcome of the meeting has com...

Read More
Posted Under: Fema / RBI |

Common Mistakes while doing Overseas Direct Investment & judicial proceedings

With the aim of diversifying the business abroad, Overseas direct investments (ODI) are undertaken as significant means for developing economies and emerging markets where companies need funding and expertise to expand their international sales. The importance of ODI can be accurately measured by the innumerable benefits like better econ...

Read More
Posted Under: Fema / RBI |

Why Neo Banks are the need of the hour?

Addressing the Need-gaps: Why Neo Banks? Today, customer expectations and behaviors have changed dramatically. Banks haven’t. Simply put, the global banking sector has fallen short in keeping up with customer needs. ...

Read More
Posted Under: Fema / RBI |

SC Lays Down Guidelines for Operation & Safety of Lockers

Amitabha Dasgupta Vs United Bank of India & Ors.  (Supreme Court Of India)

Amitabha Dasgupta Vs United Bank of India & Ors.  (Supreme Court Of India) Hon’ble SC held atht irrespective of the value of the articles placed inside the locker, the bank is under a separate obligation to ensure that proper procedures are followed while allotting and operating the lockers: (a) This includes maintenance ...

Read More

Reserve Bank of India (Digital Payment Security Controls) directions, 2021

Reserve Bank of India vide its statutory powers vested has issued the above directions which are applicable to all scheduled commercial banks (excluding Regional Rural Banks), Small finance banks, Payments banks and Credit card issuing NBFCs. They are reproduced from their website as under for those who intend referring to these complex t...

Read More
Posted Under: Fema / RBI |

Customer service in Banks – Redressal of complaints: Recent RBI guidelines

I am not amused by the recent directions issued by the Reserve Bank of India vide its communication dated RBI/2020-21/87 CEPD.CO.PRD. Cir. No.01/13.01.013/2020-21 dated January 27, 2021, titled ‘RBI releases framework for strengthening the grievance redress mechanism in banks’ with the following objective. “It has been decid...

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Posted Under: Fema / RBI |

RBI’s directions on Auto conversion of banking a/cs into Senior Citizen Account – No clarification for years

RBI’s directions on Auto conversion (re-designation) of banking a/cs into Senior Citizen Account – No clarification for years Please peruse below the text of an important and relevant portion of a simple query, supported with a clear example, I posed to DBR (RBI). The circular below was issued by RBI following the policy statement of ...

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Posted Under: Fema / RBI |

Digital lending apps – What to be aware of?

The market share of lending through traditional channels is increasingly being ceded to new age digital lending channels like p2p platforms, digital lending apps etc....

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Posted Under: Fema / RBI |

RBI: Report on trend & progress of banking in India 2019-2020

The Reserve Bank of India vide its publication dated 29th December 2020 placed in its website the Report on trend and progress of banking in India 2019-2020 in pursuance of provisions of the Banking Regulations Act, 1949 as per details given below: https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/0RTP2020_F3D078985540A4179B62B7734C7B445...

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Posted Under: Fema / RBI |

RBI study: Price discrimination on over-the-counter currency derivatives

On December 15, 2020, the Reserve Bank of India placed on its website a Working Paper titled ‘Price Discrimination in Over-the-Counter Currency Derivatives’ under the Reserve Bank of India Working Paper Series. The paper is authored by Abhishek Kumar and Vidya Kamate, both, its brilliant staff members. As the name indicates th...

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Posted Under: Fema / RBI |

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