Press Releases

Co-operative Societies cannot use the word“Bank” in their names: RBI

Press Release No. 2017-2018/1467 (29/11/2017)

It has come to the notice of Reserve Bank of India (RBI) that some Co-operative Societies are using the word Bank in their names. This is a violation of Section 7 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) (the B.R.Act, 1949)....

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Govt appoints Shri B.N. Sharma as Chairman of NAA under GST

In an immediate follow up action of last week's Cabinet approval for creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority under GST, the Government today issued orders appointing senior IAS officer Shri B.N. Sharma, as the first Chairman of this apex Authority in the rank of Secretary to Gove...

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Not said that Govt may miss FY 2018 Revenue collection target: CBEC Chief

F.No. 296/07/Misc/2017-CX.9 (30/10/2017)

Pease refer to the PTI article....Govt may miss FY 2018 Revenue collection target appearing in leading daily newspapers, both in the print and electronic version....

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RBI clarifies that linking Aadhaar to bank accounts is mandatory

Press Release: 2017-2018/1089 (21/10/2017)

Some news items have appeared in a section of the media quoting a reply to a Right to Information Act application that Aadhaar number linkage with bank accounts is not mandatory....

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Discussion paper on foreign exchange trading platform for retail participants

Press Release : 2017-2018/1018 (12/10/2017)

The Reserve Bank of India today released on its website a Discussion Paper on Foreign exchange trading platform for retail participants. The discussion paper proposes a scheme to encourage transparent and fair pricing in the retail forex market...

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Electronic Trading Platform (ETP) Directions, 2017– Draft Directions

Press Release: 2017-2018/1017 (12/10/2017)

The Reserve Bank of India today released Draft Directions for authorising Electronic Trading Platforms for financial market instruments regulated by the Reserve Bank. Comments on the draft guidelines are invited from banks, market participants and other interested parties by November 10, 2017....

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SEBI: Submission of report of Committee on Corporate Governance

PR No. 60/2017- SEBI (05/10/2017)

SEBI formed a Committee on Corporate Governance in June 2017 under the Chairmanship of Mr. Uday Kotak with a view to enhancing the standards of corporate governance of listed entities in India. The committee consisted of officials from the government, industry, professional bodies, stock exchanges, academicians, lawyers, proxy advisors, e...

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Fourth Bi-monthly Monetary Policy Statement, 2017-18- Resolution of MPC RBI

Press Release: 2017-2018/923 / 2017-2018/924 (04/10/2017)

The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. The main considerations underlying the decision are set out in the statement be...

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SEBI to Allow REITs / InvITs to raise debt capital by issuing debt securities

Press Release No.: 57/2017 (18/09/2017)

In order to facilitate growth of Infrastructure Investment Trusts (InvITs) and Real Estate investment Trust (REITs), SEBI Board, has approved certain changes in the captioned regulations, which, inter alia, include the following...

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RBI using sophisticated machines to count Specified Bank Notes (SBNs)

Press Release: 2017-2018/685 (10/09/2017)

RBI actually uses sophisticated Currency Verification & Processing (CVPS) machines for checking the numerical accuracy and genuineness of the currency notes, including SBNs. These machines are way superior to the note counting machines. ...

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