Fema / RBI : A regulatory sandbox allows fintech, especially start ups to test their products with fewer regulatory requirements, with less ris...
Fema / RBI : RBI cuts repo rate to 6.25%, revises GDP and inflation forecasts, introduces forward contracts in G-Secs, enhances cybersecurity, ...
Fema / RBI : With fiscal prudence in focus, will the RBI cut rates or use other tools? As global economies adjust, all eyes are on India's mone...
Fema / RBI : Concerns rise over improper practices in microfinance involving misuse of Rule 12 Declarations and MGT-14 forms by private and Sec...
Fema / RBI : Key updates on the regulatory framework for microfinance loans including borrower guidelines, loan repayment, and charges. Underst...
Fema / RBI : The Indian Rupee has depreciated against the US Dollar over the past decade. The government explains causes, trade impacts, and RB...
Fema / RBI : The Indian government takes measures to regulate digital lending platforms and protect citizens from exploitation by unauthorized ...
Fema / RBI : The government’s actions on gold price regulation, import duty reduction, RBI purchases, and support for consumers amid a 40% in...
Fema / RBI : Government clarifies no policy for writing off loans of willful defaulters. Banks handle write-offs as per RBI guidelines, retaini...
Fema / RBI : RBI seeks applications from faculty for research scholarships in economics and finance. Deadline: November 5, 2024. Duration: 3 mo...
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 issues guidelines for reporting and accounting of March 2025 government transactions, with deadlines and procedures for agency...
Fema / RBI : The RBI has revised risk weights on microfinance loans, setting them at 100% for RRBs and LABs while excluding consumer credit mic...
Fema / RBI : RBI restores risk weights on SCB exposures to NBFCs, reversing the 25% increase from November 2023. New rules take effect from Apr...
Fema / RBI : The RBI has revised prudential norms for Urban Co-Op Banks, including small loan limits, real estate exposure, and provisioning re...
Fema / RBI : RBI introduces RBIDATA mobile app, providing macroeconomic and financial data on the Indian economy with interactive charts and se...
The Reserve Bank of India (RBI) today released “State Finances: A Study of Budgets of 2010-11”, a publication that provides data, analysis and assessment of finances of State governments. The State governments presented their budgets for 2010-11 against the backdrop of an economic recovery and improving growth prospects for the Indian economy. Reflecting these positive developments, States had budgetted higher growth in own tax revenues in 2010-11 than in 2009-10 (RE). In addition, States also expected a larger devolution from the Centre in the form of share in Central taxes during 2010-11. The States had undertaken a massive expansion in aggregate expenditures in the previous two years in the wake of the overall macroeconomic slowdown and implementation of the Sixth Central/State(s) Pay Commission recommendations. They, therefore, budgetted a modest rise in their aggregate expenditures during 2010-11. All these factors indicated a move towards the resumption of the fiscal consolidation process at the level of States in 2010-11 after a slippage in the previous two years.
The Reserve Bank has missed the deadline to issue the much-awaited guidelines for giving new banking licences. “I am sure we are not issuing it (licence) today,” RBI Deputy Governor K C Chakrabarty told PTI. In the Budget 2011-12, Finance Minister Pranab Mukherjee had said the RBI plans to issue guidelines for the grant of new banking licences before the close of this financial year.
In relative terms, both the Reserve Bank of India (RBI) and the Central Bank of Sri Lanka (CBSL) are young institutions. RBI was established in 1935, and we celebrated our Platinum Jubilee last year. Apart from relative youth, there are several other similarities between our two institutions. Both of us have a wider mandate than is typical of central banks. In addition to maintaining price stability and macroeconomic stability, we both have responsibilities for currency management, debt management and external sector management. More importantly, we also have an obligation to calibrate our policies to promote the socio-economic development of our peoples. And in the wake of the crisis, we face the common challenge of managing our policies, particularly preserving financial stability, in the face of globalization.
The Reserve Bank will announce draft guidelines for giving new banking licences in the next few days, the Finance Ministry today said. “RBI will come up with the guidelines by the end of this month,” Department of Economic Affairs Secretary R Gopalan told reporters on the sidelines of a CII function.
The Reserve Bank of India has imposed a penalty of Rs 1 lakh on Bhabhar Vibhag Nagrik Sahakari Bank Ltd (BVNSBL) in Gujarat for not complying with the guidelines on reporting financial transactions of over Rs 10 lakh. “The RBI has imposed a penalty of Rs 1 lakh on the Bhabhar Vibhag Nagrik Sahakari Bank Limited, of district Banaskantha,” an official statement said yesterday.
Prime Minister’s Economic Advisory Council (PMEAC) Chairman C Rangarajan today said the RBI will have to continue with its monetary tightening policy to tame inflation, which stood at over 8 per cent in February. “The inflation rate continues to remain high and therefore, monetary policy will have to remain tight in order to ensure that the inflation rate is brought down,” Rangarajan told reporters on the sidelines of the Skoch summit here.
In a major relief to lakhs of depositors duped by fly-by-night non-banking financial companies, the Supreme Court on Tuesday ruled that the government has the power to attach the properties of such fraudulent organisations. The apex court said such a legislation was constitutionally valid and not repugnant to the Reserve Bank of India rules, or the Companies Act, as it was a welcome measure in view of thousands of such cases being reported in the country.
The first meeting of the sub-committee of the Financial Stability Development Council (FSDC) was held at the Reserve Bank of India office in New Delhi on Friday, the central bank said in a release. The sub-committee reviewed the developments in the macro economy and the financial markets, it said.
The Reserve Bank today said it will come out with a discussion paper on deregulation of interest rates on savings account.”There is a view that we should deregulate the interest rate on savings bank accounts too. We are examining the pros and cons of doing that and will shortly put out a Discussion Paper for eliciting feedback,” RBI Governor D Subbarao said at the Convocation function of Sambalpur University.
Soiled notes may soon be a thing of past as the Reserve Bank has asked all bank branches handling large amounts of currency to put in place note-sorting machines by the end of next month with a view to halting re-circulation of unfit currency notes.
