Category: RBI
Bank not to refuse acceptance of coins or small denomination notes-RBI Instruction to all banks Reserve Bank of India (RBI) in its latest directive has instructed that none of the bank branches should refuse to accept small denomination notes and/or coins tendered at their counters by the account …
RBI’s statement on fraud in PNB-No instruction given to PNB to meet its commitments under the Letter of Undertaking (LOU) to other banks. Reserve Bank of India (RBI), in a statement issued yesterday has denied having directed PNB to meet its commitments under the Letter of Undertaking (LOU) to other …
RBI Cautions about Fake Websites in its Name. It contains a provision for “Bank verification with online account holders” which is with fraudulent intent Reserve Bank of India has cautioned general public that a fake website of the Bank has been created with the URL www.indiareserveban.org by some unknown person(s). …
RBI grants Relief to MSME Borrowers registered under GST from NPA classification due to adverse impact of GST formalities Presently a loan account is classified as Non-Performing Asset (NPA) by banks/NBFCs based on 90 day and 120 day delinquency norms, respectively. According to press release of Reserve Bank of …
RBI issues Master Direction on Foreign investment in India Foreign Investment in India is regulated in terms of clause (b) sub-section 3 of section 6 and section 47 of the Foreign Exchange Management Act, 1999 (FEMA) read with Foreign Exchange Management (Transfer or Issue of a Security by …
RBI clarification-news about closure of some PSB due to their being placed under the Prompt Corrective Action (PCA) framework Reserve Bank of India December 22, 2017 RBI Clarification on Banks under Prompt Corrective Action The Reserve Bank of India has come across some misinformed communication circulating in some …
Co-operative societies not authorised to use word “Bank” in their names by BR Act 1949. RBI Cautions public, DICGC insurance also not available on their deposits RESERVE BANK OF INDIA November 29, 2017 Caution against various Co-operative societies using the word “Bank” in their names It has come …
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 RBI has notified the said Regulations which seek to regulate investment in India by a Person Resident Outside India. The Regulations supersedes of Notification No. FEMA 20/2000-RB and Notification No. FEMA 24/2000-RB …
RBI clarifies that linking Aadhaar to bank accounts is mandatory. Some news items quoting RTI reply had mentioned that Aadhaar linkage not mandatory. Reserve Bank of India October 21, 2017 RBI clarifies that linking Aadhaar to bank accounts is mandatory Some news items have appeared in a section …
NOF for ARCs shall be minimum Rupees 100 Crore. ARCs already registered with RBI have to achieve the prescribed minimum NOF level latest by March 31, 2019 RESERVE BANK OF INDIA (Department of Non-Banking Regulation) NOTIFICATION Mumbai, the 28th April, 2017 Notification DNBR (PD-ARC) No. 05 /ED(SS)-2017.—In exercise of …
