reserve bank of india

How violation of 19(2) of Banking Regulation Act is treated by RBI in recent past

Fema / RBI - Yesterday’s many financial newspapers carried news: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on SBI for holding shares in borrower company of an amount exceeding 30 percent of the paid-up share capital of the company. Relevant Text of the RBI Press release dated Nov 26, 2021 is […]...

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RBI Working group: Digital lending

Fema / RBI - Reserve Bank of India constituted a working group on digital lending on January 13, 2021 to study digital lending activities undertaken by both regulated financial sector and unregulated players to develop a regulatory approach for easy working. Its report running 151 pages is now available. It has 5 sections with the following broad cont...

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Will Reserve Bank – Integrated Ombudsman Scheme, 2021 be a game-changer?

Fema / RBI - Will Reserve Bank – Integrated Ombudsman Scheme, 2021 be a game-changer, swiftly address consumer grievances in RBI regulated entities? A critical analysis Important note to readers and Background: The write-up is a bit lengthy but I am sure it will serve as one source of reference to millions of consumers dealing with Banks, NBFCs, and...

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Overview of Retail Direct scheme introduced by RBI

Fema / RBI - Earlier, it was very difficult for a retail investor to invest in Government Securities (G-Sec)/Treasury Bills (T-Bills)/Sovereign Gold Bond (SGB)/State Development Loan (SDL) due to lack of information about trading/dealings in these instruments, functioning of G-Sec market and more on....

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RBI: Retail Direct Scheme – Gilt accounts

Fema / RBI - We have heard of institutions dealing with government securities at various stages and many retailers wanted to invest or trade in them. RBI heard the requests of retailers and has come out with the following scheme, just yesterday. Let us learn the epoch- making development in detail. The highlights of the ‘RBI Retail Direct’ scheme ...

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RBI Booklet on Modus Operandi of Financial Fraudsters

Fema / RBI - There has been a sizable surge in usage of digital modes of payment during the recent years. This has not only led to improved customer convenience, but also contributed to achievement of national objective of financial inclusion to a great extent....

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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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NCLT admits RBI application for initiating CIRP against Srei Infra

Reserve Bank of India Vs Srei Infrastructure Finance Limited (NCLT kolkata) - Reserve Bank of India Vs Srei Infrastructure Finance Limited (NCLT Kolkata) 1. The Court convened via video conferencing. 2. This is an application filed by the Reserve Bank of India (Appropriate Regulator) under section 227 read with section 239(2(zk) of the Insolvency and Bankruptcy Code, 2016 (in...

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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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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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Recent Posts in "reserve bank of india"

How violation of 19(2) of Banking Regulation Act is treated by RBI in recent past

Yesterday’s many financial newspapers carried news: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on SBI for holding shares in borrower company of an amount exceeding 30 percent of the paid-up share capital of the company. Relevant Text of the RBI Press release dated Nov 26, 2021 is […]...

Read More
Posted Under: Fema / RBI |

RBI Working group: Digital lending

Reserve Bank of India constituted a working group on digital lending on January 13, 2021 to study digital lending activities undertaken by both regulated financial sector and unregulated players to develop a regulatory approach for easy working. Its report running 151 pages is now available. It has 5 sections with the following broad cont...

Read More
Posted Under: Fema / RBI |

Will Reserve Bank – Integrated Ombudsman Scheme, 2021 be a game-changer?

Will Reserve Bank – Integrated Ombudsman Scheme, 2021 be a game-changer, swiftly address consumer grievances in RBI regulated entities? A critical analysis Important note to readers and Background: The write-up is a bit lengthy but I am sure it will serve as one source of reference to millions of consumers dealing with Banks, NBFCs, and...

Read More
Posted Under: Fema / RBI |

Overview of Retail Direct scheme introduced by RBI

Earlier, it was very difficult for a retail investor to invest in Government Securities (G-Sec)/Treasury Bills (T-Bills)/Sovereign Gold Bond (SGB)/State Development Loan (SDL) due to lack of information about trading/dealings in these instruments, functioning of G-Sec market and more on....

Read More
Posted Under: Fema / RBI |

RBI: Retail Direct Scheme – Gilt accounts

We have heard of institutions dealing with government securities at various stages and many retailers wanted to invest or trade in them. RBI heard the requests of retailers and has come out with the following scheme, just yesterday. Let us learn the epoch- making development in detail. The highlights of the ‘RBI Retail Direct’ scheme ...

Read More
Posted Under: Fema / RBI |

FAQs on Master Directions on Priority Sector Lending Guidelines

Priority Sector includes the following categories: (i) Agriculture (ii) Micro, Small and Medium Enterprises (iii) Export Credit (iv) Education (v) Housing (vi) Social Infrastructure (vii) Renewable Energy (viii) Others. ...

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Posted Under: Fema / RBI |

Purchase of immovable property outside India by Resident & NRI Individuals

According to section 6(4) of the FEMA, a person resident in India can hold, own, transfer or invest in any immovable property situated outside India if such property was acquired, held or owned by him/her when he/she was resident outside India or inherited from a person resident outside India....

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Posted Under: Fema / RBI |

RBI Governor: Auditing challenges in financial sector

Address by Shri Shaktikanta Das, Governor, Reserve Bank of India at the National Academy of Audit and Accounts (NAAA), Shimla on October 25, 2021 is the motivation for this article. His speech is available in RBI website. Though I have covered major part of his speech, enough input on the necessity of audit, the procedure […]...

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Posted Under: Fema / RBI |

FAQs on Micro, Small and Medium Enterprises

(Updated as on October 1, 2021) Q.1. What is the definition of MSME? Ans. In terms of Government of India Gazette Notification S.O. 2119 (E) dated June 26, 2020 the definition of micro, small and medium enterprises is as under: (i) A micro enterprise is an enterprise where the investment in plant and machinery or equipment […]...

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Posted Under: Fema / RBI |

Investigation Under PMLA and their scope

Money-laundering can be defined as a process by which a person makes huge income out of the illicitly obtained money and he has placed it into a chain of transactions to hide its origin. Section 3 of Prevention of Money laundering Act, 2002 defines offences of Money-laundering. This article is small attempt to examine the […]...

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Posted Under: Fema / RBI |

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