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...
Interest rates may remain soft even if the central bank were to withdraw its accommodating stance and tighten monetary policy, which will be reviewed on Friday. The good news for home loan borrowers is that retail loans are the only form of credit showing some decent growth and bankers are unlikely to jeopardise this demand by raising rates. Corporates, who in any case have not been big borrowers, may also not see an increase in rates as banks have said they are unlikely to increase their benchmark lending rates this fiscal.
The External Commercial Borrowing (ECB) policy is regularly reviewed by the Government in consultation with Reserve Bank of India (RBI) to keep it in tune with the evolving macroeconomic situation, changing market conditions, sectoral requirements, the external sector and lessons of experience. Consequent upon such a review and in order to develop the telecom sector in the country, the Government had earlier permitted eligible borrowers in the telecommunication sector to avail of ECB for the purpose of payment for Spectrum allocation.
Ahead of the Reserve Bank’s quarterly monetary policy, RBI is likely to signal interest rate hikes to suck out liquidity from the market and check prices from spiraling further. Reserve Bank may also raise the amount banks need to park with the apex bank (CRR) by up to 50 basis points. Reserve Bank could raise the short-term borrowing (reverse repo) rate by 25 basis points. Reserve bank is likely to hike cash reverse ratio by up to 50 basis points.
ATM transactions may have become free for customers, but banks now have to pay Re 1 for every ATM transaction that is routed through the National Financial Switch — the backbone of ATM networks in the country. The charge has been introduced after RBI transferred ownership of NFS from its technology arm IDRBT to the newly-formed National Payments Corporation.
INCLUSIVE GROWTH is the word which is often heard and understood less by majority. I will not get into complex explanations of the above word meaning. In simple words Inclusive Growth by its very definition implies an equitable allocation of resources with benefits accruing to every section of society.
The government has written to the RBI asking it to consider classifying loans to the infrastructure sector as secured lending to increase the flow of funds to the sector, a finance ministry official told. As per RBI guidelines, loans given to infrastructure sector specially, road, construction, telecom and ports, fall under the unsecured category as there is no tangible asset that can banks can take-over in the case of default to secure their loan.
Driven by angry mortgage borrowers, RBI has once again nudged top banks to charge lower home loan rates to old customers instead of just using the lower interest rates to pull new borrowers. But lenders continued to resist the proposal, citing cost mismatch. The contentious issue cropped up when CEOs of large banks met senior RBI officials on Thursday to suggest possible measures that the central bank could consider for the January 29 monetary policy.
These individuals, according to the RBI, may open, hold and maintain a foreign currency account with a bank outside India and receive the whole salary payable to him for the services rendered to the office/branch/subsidiary/joint venture in India of such foreign company, by credit to such account, provided that income-tax chargeable under the Income-tax Act, 1961, is paid on the entire salary as accrued in India.
The Reserve Bank of India (RBI) is likely to allow money withdrawals from the point of sale (PoS) terminals using prepaid cards issued by banks. RBI is considering to allow open loop cards to withdraw money from a PoS terminal. RBI is working on issues, like the amount a PoS owner should charge. The decision may come soon, said a senior executive of a public sector bank.
Lenders are likely to ask RBI to lower interest rate on savings accounts to enable them to comply with the new directive requiring interest rates on these accounts to be calculated on daily balances. Interest rates on savings accounts are determined by the regulator are presently fixed at 3.5%.
