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...
There is good news for the companies usingPay Pal services as Reserve Bank of Indiahas given the green signal for restarting the bank withdrawals in the country, the news was confirmed last week by PayPal. The RBI has approved in order to settle payments and withdrawals for exports of gods and services.
The Reserve Bank of India is likely to announce its draft guidelines on the compensation packages of private sector bank Chiefs by next month, a move aimed at aligning the salary structures with the business performance.”The indications are that the draft paper will be out by March. This would be aimed at putting a framework in the way banks compensate their CEOs and other top executives,” a source in the know told PTI.
The Committee recommended that the Lead Bank Scheme is useful and needs to continue. The overarching objective of the Scheme is to enable banks and State Governments to work together for inclusive growth. All the action points emanating from the recommendations of the Committee requiring action to be taken by the Lead Banks/commercial banks are appended at Annex. You are advised to initiate actions for speedy implementation of the recommendations and also closely monitor the progress made by commercial banks in this regard.
To address the overall macroeconomic slowdown, the Central Government allowed the States to raise additional market borrowings to the extent of 0.5 per cent of GSDP during 2008-09 and increase the limit of fiscal deficit to 3.5 per cent of GSDP for undertaking capital expenditure, thereby providing them additional fiscal space. Further in the Union Budget 2009-10, States have been allowed to raise additional market borrowings of 0.5 per cent of GSDP, thus increasing the limit of GFD to 4.0 per cent of GSDP during 2009-10.
Many of the biggest names in Corporate India are telling the Reserve Bank of India (RBI) not to clamp down on currency derivatives — financial products that have baffled firms that never understood the risks and sparked court feuds with banks which sold them.
Please refer to our circular DBOD. No. Dir. BC.128/13.03.00/2008-09 dated April 24, 2009 advising banks that in view of the present satisfactory level of computerisation in commercial bank branches, it is proposed that payment of interest on savings bank accounts by scheduled commercial banks would be made on a daily product basis
RBI Governor D. Subbarao said that inflation will start moderating from July. Subbarao was addressing RBI’s central board meeting in Patna. RBI board met here to discuss various economic issues. The RBI governor said that he was sticking to 8.5% inflation projection made during the credit policy.
RBI guidelines describe base rate as follows: ‘The Base Rate system will replace the BPLR system with effect from April 1, 2010. Banks may determine their actual lending rates on loans and advances with reference to the Base Rate. Base Rate shall include all those elements of the lending rates that are common across all categories of borrowers. While each bank may decide its own Base Rate, some of the criteria that could go into the determination of the Base Rate are:
Give the known challenges, every central bank has to move in the direction of taking right steps that it may feel as appropriate despite lack of consensus on many critical issues, without waiting for the global system to move. It would be wrong, however, as noted by Mr. Stephen Roach, to presume that “best global policies are the sum of the best national policies”.
Auditors in public sector banks (PSBs) must be appointed by the Reserve Bank of India (RBI) and the current practice of allowing bank managements to decide on such appointments must be done away with, the new President of the CA Institute, Mr Amarjit Chopra, has said.
