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...
In an irony of sorts, RBI gets to approve salaries of all the top-level bankers in the country, but the central bank’s top officials themselves get less than 5 per cent of what is paid to the bank chiefs.
After wooing the urban poor here with its ‘One Rupee Bank’ account, State Bank of India (SBI) is now aggressively targeting the crorepatis. The government lender has inaugurated first-of-its-kind branch for high net worth individuals (HNIs), where it
In respect of the 2% additional subvention, banks may submit their one-time consolidated claims pertaining to the disbursements made during the entire year 2010-11, latest by April 30, 2012, duly audited by Statutory Auditors certifying the correctness.
The Reserve Bank of India, has said a bank will have to honour a fixed rate contract, even if interest rates move up in future. The clarification has removed doubts that some banks had over introduction of fixed rate home loans.
The Reserve Bank of India released today its Annual Report for 2009-10. This statutory Report of the Board of the Reserve Bank focusses on: (a) an analytical assessment of the key policy issues and macroeconomic challenges faced during the year, (b) the range of policy actions taken to address the challenges, besides initiatives launched during the year in relation to the broad macro-financial objectives of the Reserve Bank,
The Reserve Bank of India’s plans to have access to banking data online from the industry is being stymied by state-owned banks’ reluctance to use technology that they have already deployed. An angry RBI has told public sector banks that they have failed in their business process re-engineering efforts after spending millions on a centralised information technology system.
How about your fixed deposits being flexible? Soon this could be possible, as the country’s biggest bank SBI is all set to offer floating interest rates on term deposits. The floating rate term deposit product will offer no guarantee on returns, as the interest will change with the revision of base rates.
A suggestion by the Reserve Bank of India (RBI) that foreign shareholding in new private sector banks be capped at 50 per cent with a lock-in of 10 years has led to some consternation among banks in which a majority share is held by overseas investors. The discussion paper has also triggered a debate if the proposal will make it tougher for banks to attract sufficient capital while ensuring that the shareholding is widely spread.
A case was made for giving relaxation to companies, which have their assets predominantly as investments in shares for holding stake in group companies but not for trading, and companies which do not carry on any other financial activity i.e. Core Investment Companies (CICs), from the regulatory provisions applicable to Non-Banking Financial Companies (NBFCs).
Indian Banks’ Association (IBA) has reported that banks have been permitted by Reserve Bank of India (RBI) to allow free cash withdrawal at their ATMs by customers from other banks upto five times in a month free of charge. Banks are generally complying with the guidelines issued by RBI in this regards from time to time.
