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...
Instances have been observed where NBFCs have made overseas investments without regulatory clearance of the Department of Non-Banking Supervision, Reserve Bank of India. Any investments made by NBFCs without regulatory clearance is a violation of FEMA 2004 and attracts penal provisions.
If you have written ‘hundered’ instead of ‘hundred’ on a cheque, don’t just strike off the additional ‘e’ and issue the cheque. Use a fresh leaf instead, or it could cost you Rs100-550. The Reserve Bank of India (RBI) has notified banks in a recent circular to not accept cheques that have corrections or alterations in anything but the date. The measure has been taken to “help banks identify and control fraudulent alterations”. The banks have started informing customers about the policy change through mailers.
The Reserve Bank of India Act, 1934 (RBI Act) requires a Non-banking Financial Company (NBFC) undertaking inter-alia, the business of acquisition of shares, stock, bonds, debentures or other marketable securities to obtain a Certificate of Registration as a NBFC. Such entities are regarded as Investment Companies by the Reserve Bank of India (RBI) and regulated as such.
Reserve Bank had declared 108 Non Banking Financial Companies (NBFCs) as vanishing companies during the last three years, Rajya Sabha was informed today. “Whenever a company is declared as vanishing the matter is referred to the Economic Offences Wing of the concerned state government,” Minister of State for Finance Namo Narain Meena said in a written reply.
Banks will have to soon put in place an additional authentication cover for their credit and debit card customers transacting over phone, or get penalised. Taking forward its efforts to tackle identity frauds in non-branch banking transactions, the Reserve Bank has asked all the banks operating in the country to put in place by next year a system where credit and debit card customers would need to provide an additional password for IVR (interactive voice response) transactions.
An affidavit filed in the Supreme Court (SC) regarding a derivatives scam has alleged that regulatory agencies were part of a deep-rooted conspiracy that resulted in losses of Rs 25 lakh crore to the industry. The affidavit has been filed by an individual, Pravanjan Patra, in a case involving the Foreign Exchange Dealer’s Association of India and the Fixed Income Money Market Derivatives Association of India.
The Reserve Bank today said it may permit banks to engage any individual to act as business correspondent (BC), a move that will provide more flexibility to banks for taking services to rural areas. The central bank proposes to permit banks to engage any individual, including those operating Common Service Centres (CSCs), as BC, subject to banks’ comfort level and their carrying out suitable due diligence, the Reserve Bank said in its monetary policy for 2010-11.
Holding companies of business conglomerates will come under the radar of the Reserve Bank of India. Business groups will have to register these investment firms’ holding shares on behalf of promoters with the central bank. These entities, which unlike non-banking finance companies do not accept deposits or trade, will be known as core investment companies (CICs) with a new set of rules.
The Reserve Bank today extended the benefit of low interest rates for exporters up to June 30. The ceilings on interest rates on pre-shipment and post-shipment rupee-export credit were stipulated at benchmark prime lending rate minus 2.5 per cent.
After delaying liberalisation for foreign banks by over a year due to global financial meltdown, the Reserve Bank on Tuesday decided to review its position by September this year in the wake of improving conditions worldwide. The central bank will prepare a discussion paper on the mode of presence of foreign banks through branch or wholly- owned subsidiary (WOS) by September 2010, RBI said in its annual monetary policy for 2010-11.
