Category: RBI
There is complete removal/weak RBI powers on corporate governance at PSBs. No Banking Regulator Can Catch or Prevent All Frauds-RBI Governor Banking Regulatory Powers Should Be Ownership Neutral RBI Governor, Shri Urjit Patel in his speech at the Gujarat National Law University (GNLU) in Gandhinagar has stated that there has been …
RBI Discontinues Letters of Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits with immediate effect. In 2004, LoUs/LoCs were permitted by RBI allowing Authorised Dealers to Issue Guarantees upto USD 20 Million for Imports. Further, Master Direction No.5 of 2016 on ‘ External Commercial Borrowings, …
RBI announces Visiting Fellow Programme The Reserve Bank of India announces “RBI Visiting Fellow Programme” for experts from foreign central banks, international organizations, foreign universities, and other research bodies abroad. The key features of the programme are as under: RBI Visiting Fellow Programme (i) The visiting fellow should have a …
Reserve Bank introduces Ombudsman Scheme for Non-Banking Financial Companies As announced in the Monetary Policy Statement of February 7, 2018, the Reserve Bank of India has launched the Ombudsman Scheme for Non-Banking Financial Companies (NBFC) for redressal of complaints against NBFCs registered with RBI under Section 45-IA of the …
Expert Committee to look into role of various audits conducted in banks to check divergence in asset classification, provisioning and frauds Reserve Bank of India (RBI) in press release issued has stated that in view of large divergences observed in asset classification and provisioning in the credit portfolio of banks …
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 …
