Fema / RBI : Understand DICGCs role in insuring bank deposits up to ₹5 lakh. Learn about compliance requirements, premium calculations, and p...
Fema / RBI : RBI cautions banks and NBFCs on non-compliance with regulatory standards, highlighting risks associated with rapid home equity loa...
CA, CS, CMA : Highlights from August 5-11, 2024: Income Tax exemptions, GST updates, SEBI guidelines, and RBI monetary policy changes....
Fema / RBI : RBI keeps repo rate unchanged at 6.5%, projects 7.2% GDP growth for 2024-25. Introduces public depository for digital lending apps...
Fema / RBI : RBIs August 2024 meeting keeps repo and SDF rates unchanged. Focus on reducing inflation and enhancing credit reporting. Impact on...
Fema / RBI : Details on penalties for not maintaining AMB in savings accounts, criteria for calculation, and government's stance on rationalizi...
Fema / RBI : Discover RBI's third global hackathon, 'HaRBInger 2024 - Innovation for Transformation,' aimed at enhancing India's financial land...
Fema / RBI : The ability for cardholders to determine their billing cycle signifies that credit cards are not merely tools for cashless transac...
Fema / RBI : Explore FAQs on Credit Card Issuance, Activation, Usage, and Complaints. Understand rules, rights, and procedures in the Master Di...
Fema / RBI : Discover exponential growth of UPI transactions in India, from Rs. 1 lakh crore in FY 2017-18 to Rs. 139 lakh crore in FY 2022-23....
Fema / RBI : RBI directs NBFCs to adhere to a Rs 20,000 cash loan disbursement limit, aiming to regulate cash transactions and enforce complian...
Corporate Law : Unraveling the NCLAT Chennai verdict in the GVK Energy Vs Axis Bank case, underscoring the supremacy of IBC over RBI's directions ...
Company Law : Reserve Bank of India Vs Srei Infrastructure Finance Limited (NCLT Kolkata) 1. The Court convened via video conferencing. 2. This ...
Fema / RBI : Supreme Court mandates strict procedures for bank lockers. Ensure compliance, notify changes, maintain records. Judgment details i...
Fema / RBI : In re Cognizance for Extension of Limitation (Supreme Court) With reference to the prayer, that the period of validity of a cheque...
Fema / RBI : RBI revises risk weights for Housing Finance Companies, capping undisbursed loan risk weights and adjusting risk weights for comme...
Fema / RBI : RBI revises regulations for HFCs and NBFCs, harmonizing deposit acceptance norms and enhancing liquidity requirements as of August...
Fema / RBI : RBI's new PCA Framework for Urban Co-operative Banks (UCBs), effective April 2025, revises supervisory actions. Key changes and im...
Fema / RBI : RBI releases draft circular on Basel III LCR, proposing new haircuts on HQLA and revised run-off rates for certain deposits. Stake...
Fema / RBI : RBI revises Domestic Money Transfer guidelines, effective Nov 1, 2024, with new KYC, transaction validation, and compliance requir...
Here’s some good news for savings account holders. The savings account will yield 30 to 40 basis points more to the account holder from Wednesday with the banks shifting to the new method for calculating interest on savings deposits. Following the Reserve Bank guidelines, the banks would be required to calculate interest on savings deposits on a daily basis beginning April 1.
The Reserve Bank of India today said it may come out with guidelines on new banking licences in about three months. “It (framework on new banking licences) may take three months. It all depends on what are the situations and complexities of issues,” RBI Deputy Governor K C Chakrabarty said on the sidelines of an event organised by SKOCH.
The Reserve bank of India has asked banks to reveal more information on their market operations, including data related to top 20 depositors, 20 largest borrowers, exposure to four largest non-performing accounts and special purpose vehicles sponsored by them, for the current fiscal.This, officials said, was to ensure the industry followed international best practices and to enhance transparency in banking operations. The disclosures are to be made part of the ‘Notes to Accounts’ in banks’ balance sheets.
In July, 2009, a total of 129 un-banked blocks were identified in the country. As a result of the concerted efforts made by the Government, Reserve Bank of India (RBI) and the Banks in providing banking facilities in the un-banked blocks, the number of such blocks has come down to 93 in February, 2010.
If your bank rejects any of your currency notes in the Rs 1,000 or Rs 500 denomination on the suspicion of it being fake, you have a right to fight. The problem of fake notes in circulation has assumed serious proportions across the country, particularly in Hyderabad.
The State Bank of India (Amendment) Bill 2010 contains a provision that will further limit the Reserve Bank of India’s powers on bank auditor appointment. The provision allows SBI to appoint its own statutory auditors. The Central Government too will have no say in the appointment of statutory auditors of SBI.
The Reserve Bank of India (RBI) plans to amend its rules to pre-empt non banking finance companies (NBFCs) from misusing the liberal rules governing limited liability partnership (LLP) firms. In the interim, NBFCs that want to convert themselves to LLP firms will have to obtain a no-objection certificate from the central bank.
Mandatory doubling of the limit for collateral free loans to micro and small enterprises (MSEs) sector to Rs.10 lakh from the present Rs. 5 lakh, increase in the extent of guarantee cover, absorption of guarantee fees for the collateral free loans by CGTMSE subject to certain conditions, lower guarantee fees for women entrepreneurs and enterprises in the North-East, simplification of procedure for filing claims with CGTMSE and increasing awareness about the scheme are some of the recommendations of the Working Group set up to review the Credit Guarantee Scheme of the Credit Guarantee Fund Trust.
With the April 1 deadline to migrate to the base rate model fast approaching, bank chiefs are likely to raise concerns about the new system and seek an extension of the deadline during their scheduled meeting with top RBI officials on Friday. Bankers are worried the new model will affect their business of giving short-term loans to corporate clients at cheaper rates (sub-PLR loans) as lending rates on such loans will go up at least by 2 per cent in the base rate system.
Scheme for Collection of Dues of ( i ) Central Board of Direct Taxes ( ii ) Central Board of Excise and Customs ( iii) Departmentalised Ministries Account – Reporting and Accounting of March Transactions – Special Arrangements – Financial Year 2009-2010
