Fema / RBI : RBI plans to ease registration norms for low-risk NBFCs to reduce compliance burden. The move aims to encourage innovation while m...
CA, CS, CMA : CBDT corrected multiple ITR forms to fix structural and computational errors. The update ensures accurate tax reporting and reduce...
Fema / RBI : The issue concerns liability in unauthorised digital transactions. The ruling insight highlights that absence of a clear definitio...
Fema / RBI : The RBI maintained key policy rates unchanged, signaling confidence in economic stability and controlled inflation. The decision r...
CA, CS, CMA : The latest amendments aim to simplify compliance and promote investment while reducing penalties. The update signals a major shift...
Fema / RBI : The amendment redefines revenue reserves by excluding provisions for liabilities and depreciation. This ensures clearer classifica...
Fema / RBI : RBI revises the definition of revenue reserves to exclude provisions and liabilities. The change enhances transparency and consist...
Fema / RBI : The Reserve Bank of India has removed a key provision from capital adequacy norms to ensure consistency with updated investment ru...
Fema / RBI : RBI introduces annual IFR assessment instead of continuous compliance for RRBs. The change reduces operational burden while mainta...
Fema / RBI : The Reserve Bank of India has proposed a clear 5% IFR requirement for rural co-operative banks’ current investments. This change...
Fema / RBI : The court held that failure to apply Clause 3(d) of the RBI Master Circular invalidated the wilful defaulter declaration. Non-Exec...
Corporate Law : The court held that Ombudsman’s finding of customer negligence was unsustainable and directed bank to refund disputed amount. Th...
Corporate Law : Court ruled that protections under the RBI Circular apply only to third-party breaches and cannot be invoked to recast personal tr...
Fema / RBI : Rajasthan High Court stays a ₹7 crore deposit for Tijaria Polypipes' OTS, directing Bank of India to comply with RBI circulars a...
Fema / RBI : RBI directs NBFCs to adhere to a Rs 20,000 cash loan disbursement limit, aiming to regulate cash transactions and enforce complian...
Fema / RBI : The RBI has consolidated all previous e-mandate guidelines into a single framework governing recurring digital payments. The key t...
Fema / RBI : The update prohibits most INR derivative contracts with related entities. Only specific transactions such as cancellations and non...
Fema / RBI : The issue involved restrictive branch approval requirements for NBFCs. RBI removed prior approval norms, allowing easier expansion...
Fema / RBI : The RBI proposes replacing the existing dual methodology with a single asset-based criterion for identifying NBFC-UL entities. The...
Fema / RBI : The discussion paper addresses increasing APP frauds and proposes preventive safeguards like transaction delays and authentication...
Even as India has been cited as an example of prudential banking norms, the Reserve Bank of India (RBI) today said some lenders are not monitoring effectively use of loans by borrowers, which is facilitating diversion of funds. This came to light whe
In the alleged Rs 400-crore fraud by a senior employee at a Gurgaon branch of Citibank, RBI is probing whether there have been any violations of norms related to customer verification and monitoring of accounts. The initial probe by the banking regul
Amid expectations that RBI will hike policy rates later this month to tame high inflation, Finance Minister Pranab Mukherjee today said the central bank will take appropriate monetary action to stabilise prices. “Whenever the appropriate adjustment
NPCI has carried out a pilot on mobile payment system initially with 4 member banks viz State Bank of India, Bank of India, Union Bank of India and ICICI Bank in August 2010. Yes Bank, Axis Bank and HDFC Bank have joined this pilot in month of Septem
StanChart Bank expects food prices to push up overall inflation to 8.3 per cent in December, which will prompt the Central Bank to raise policy rates by 50 basis points in the current fiscal. The bank said in its report that it expects the first rate
The Reserve Bank of India (RBI) today gave banks another six months till June 30 to adopt the new method for computing base rate — below which lenders are not allowed to extend loans. “Banks are permitted to change the benchmark and methodology u
Next time you go to a bank ATM, be ready to re-enter your PIN afresh for every transaction you wish to conduct, such as money withdrawal, balance enquiry and checking account details. In order to check misuse of ATM cards by unauthorised people, RBI
It is observed that many a time, names of Directors of various firms/companies are similar. It is, therefore, necessary to ensure that Directors are correctly identified and in no case, names appearing to be similar to the names of Directors appearing in the list of defaulting borrowers are wrongfully denied credit facilities on such grounds. To avoid such situations, it has been decided that the Director Identification Number (DIN) may be included as one of the fields in the data format submitted by State and Central Co-operative Banks to credit information companies. Such provision of DIN will further ensure that the data relating to credit information is accurate and complete.
The Reserve Bank of India has launched the 53rd round of the Industrial Outlook Survey (IOS) for reference period January –March 2011. The Reserve Bank is conducting the Industrial Outlook Survey on a quarterly basis since 1998. The survey gives an i
Looking to speed up the transfer of funds electronically, banks will henceforth only take into account customers’ account numbers for such transactions, ignoring other details like names. The new mechanism is intended to reduce the possibility of any
