Category: RBI
Opening of Special Non-Resident Rupee Account-RBI expands the permitted uses of the SNRR Account Opening of Special Non-Resident Rupee Account Opening, holding and maintaining foreign currency accounts by a person resident in India is regulated in terms of section 9 of the Foreign Exchange Management Act, 1999 (FEMA). …
RBI withdraws Chapter IIIB exemptions from Housing Finance Companies RBI withdraws exemptions from Housing Finance Companies Housing Finance Institutions (HFIs) as defined under Clause (d) of Section 2 of the National Housing Bank Act, 1987. Such HFIs are currently exempt from the provisions of Chapter IIIB of Reserve …
Banks not to levy NEFT charge on savings bank account wef January 2020. As per RBI during the period October 2018 to September 2019, the National Electronic Funds Transfer (NEFT) and Unified Payments Interface (UPI) systems handled 252 crore and 874 crore transactions with year on year growth …
RBI permits banks to lend to InvITs subject to prescribed conditions which inter alia requires banks to have Board approved policy on exposures to InvITs RBI had allowed banks to invest in units of InvITs subject to the specified conditions. On representation by banks and other stakeholders seeking …
RBI Statement on Developmental and Regulatory Policies Reserve Bank of India Date : Oct 04, 2019 This Statement sets out various developmental and regulatory policy measures for strengthening regulation and supervision; broadening and deepening financial markets; and improving the payment and settlement systems. I. Regulation and Supervision 1. …
RBI allows cost accountant’s certificate for claiming agency commission by banks. Earlier only CAs were authorised. Download Revised Formats. Read Notification RBI allows cost accountant’s certificate for claiming agency commission by banks RBI has allowed that agency banks while claiming agency commission may submit the required reconciliation certificate …
RBI framework for Turn Around Time (TAT) and customer compensation for failed transactions using authorised Payment Systems Monetary Policy statement of RBI dated April 4, 2019 proposed that the Reserve Bank would put in place a framework on Turn Around Time (TAT) for resolution of customer complaints and …
RBI revised guidelines for concurrent audit of banks-Scope, coverage of business/branches, minimum items / area of coverage, etc. RBI has revised guidelines for concurrent audit of banks. Accountability to be fixed in serious acts of omission/commission RBI revised guidelines for concurrent audit of banks RESERVE BANK OF INDIA …
RBI releases the Report of the Committee on the Development of Housing Finance Securitisation Market Date : Sep 09, 2019 The Reserve Bank of India had constituted a Committee on the Development of Housing Finance Securitisation Market, on May 29, 2019, with Dr. Harsh Vardhan, Senior Advisor, Bain & Co. …
RBI Makes External Benchmark Based Interest Rate mandatory for all new floating rate personal/ retail (housing, auto, etc.) & floating rate loans to MSE Reserve Bank had constituted an Internal Study Group (ISG) to examine various aspects of the marginal cost of funds-based lending rate (MCLR) system. The …
