Tags : Universal bank, licence, continuous process
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RBI Issues Shareholding Norms for Private Sector Banks(13.05.2016)
Reserve Bank of India (RBI) has issued new guidelines on ownership in private sector banks by bundling shareholding patterns into two broad categories.....
Tags : Reserve Bank of India, Private Sector Banks
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RBI Issues Guidelines for Voluntary Surrender of Licence by PSOs(13.05.2016)
Reserve Bank of India (RBI) has issued guidelines for voluntary surrender of licence by Payment System Operators (PSOs) under Payment & Settlements Sy.....
Tags : Reserve Bank of India , PSOs
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RBI’s Nod to FPIs to Invest in Unlisted Debt Securities(17.05.2016)
Reserve Bank of India (RBI) has allowed Foreign Portfolio Investors (FPIs) to invest in unlisted debt securities as well as in securitised debt instru.....
Tags : Reserve Bank of India , Foreign Portfolio Investors
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RBI Eases Norms on FDI in CICs(20.05.2016)
Reserve Bank of India (RBI) has eased norms around Foreign Direct Investment (FDI) in credit information companies (CICs) in India.
Tags : Reserve Bank of India, FDI
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IT dues payable in advance at authorised bank branches(16.05.2016)
Advance income tax can be paid at authorised banks instead of just with the Reserve Bank of India. Of the 29 banks authorised to acceptance tax remitt.....
Tags : Income tax, advance, authorised banks
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RBI regional offices entrusted UCB fraud monitoring and reporting duties(19.05.2016)
The Reserve Bank of India notified a revised fraud monitoring and reporting mechanism for Primary (Urban) Co-operative Banks.
Under the new.....
Tags : Co-operative bank, fraud, reporting, monitoring
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UBS AG no longer a banking company(19.05.2016)
The Reserve Bank of India notified USB AG, the Swiss multinational financial services firm, to have ceased being a ‘banking company’ under the Banking.....
Tags : Ubs, swiss, banking company, banking act
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RBI: SDR Norms Applicable to NBFCs Too(27.05.2016)
Reserve Bank of India (RBI) has said that modifications made to Strategic Debt Restructuring (SDR) mechanism by RBI in February this year will now be .....
Tags : Reserve Bank of India, NBFCs, SDR
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Export Data Processing and Monitoring System expanded(26.05.2016)
The Export Data Processing and Monitoring System has been expanded with modules that will now include information on handling of shipping bills for ca.....
Tags : edpms, exporters, caution, monitoring, banks
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National Company Law Tribunal effective 1 June 2016(01.06.2016)
The Central Government constituted the National Company Law Tribunal and Appellate Tribunal for hearing matters arising under the Companies Act and th.....
Tags : companies act, bankruptcy code, company law tribunal
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Government Banks on New PSU Norms for Higher Non-tax Revenue(09.06.2016)
Centre has released new guidelines on capital restructuring of state-owned companies, which will make them more accountable on matters of dividends, b.....
Tags : Government Banks, PSU Norms
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RBI Relaxes Stressed Asset Restructuring Rules for Banks(14.06.2016)
Reserve Bank of India (RBI) has relaxed guidelines for restructuring of large stressed assets by lenders in a move that would allow the banks to more .....
Tags : Reserve Bank of India , Asset Restructuring Rules
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RBI Permits Start-Ups to Open Currency Account Abroad(24.06.2016)
Reserve Bank of India (RBI) has allowed startups with an overseas subsidiary to open foreign currency accounts abroad to credit foreign exchange earni.....
Tags : Reserve Bank of India, startups
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Implementation of Indian Accounting Standards(23.06.2016)
RBI asked banks to submit Proforma Ind AS (Indian Accounting Standards) Financial Statements for half year ending 30 September 2016 by 30 November 201.....
Tags : ind as, banks, financial statements
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RBI Relaxes Rules for ECBs(01.07.2016)
Reserve Bank of India (RBI) has said eased rules for External Commercial Borrowings (ECBs) and said that Indian companies will need to submit for appr.....
Tags : Reserve Bank of India, ECBs
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System for reporting banks’ associations discontinued(30.06.2016)
The Reserve Bank of India discontinued the Quarterly Reporting System - foreign branches/subsidiaries/joint ventures/associates of Indian Banks , with.....
Tags : quarterly reporting system, foreign branches, associations, indian banks
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Disclosure of bank’s business dissuades “window-dressing”, in public interest(28.06.2016)
“Any action that results in dissuading commercial entities from indulging in practices such as window-dressing would be in larger public interest”, th.....
Tags : rti, exemption, bank, business mix, public interest
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RBI Notifies Rates for Small Saving Schemes for Q2(08.07.2016)
Reserve Bank of India (RBI) has notified the interest rates for different small savings schemes for the quarter ending September. The interest rates h.....
Tags : Reserve Bank of India, RBI, small savings schemes
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RBI Sets Rupee Reference Rate against US Dollar and Euro(08.07.2016)
Reserve Bank of India (RBI) has fixed reference rate of the rupee at 67.4972 against the US dollar and 74.8274 for the euro.
Tags : Reserve Bank of India, RBI, reference rate
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Reporting of Bank Guarantee on behalf of service importers discontinued(07.07.2016)
The Reserve Bank of India announced the discontinuation of submission of reports on guarantees issued by banks in favour of non-residents service prov.....
Tags : rbi, bank guarantee, service importer, reporting requirement
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RBI relaxes LTD guidelines for co-operative banks(07.07.2016)
The Reserve Bank of India relaxed guidelines for raising and redeeming Long Term (Subordinated Deposits by co-operative banks, replacing them instead .....
Tags : long term deposit, cooperative bank, disclosure
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Delhi HC Issues Restraining Orders on Bank Strike(12.07.2016)
Delhi HC has issued interim orders restraining staff and officers associations from going on strike against proposed merger of associate banks with St.....
Tags : Delhi HC, State Bank of India
read»
Synchronising financial accounting year with calendar year(19.07.2016)
Union Minister of Finance, Aurn Jaitley, stated that a Committee to examine the desirability and feasibility of changing the financial year has been c.....
Tags : financial year, calendar year, nationalised banks, merger
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RBI Imposes Penalty on 3 Banks in Forex Scam(26.07.2016)
Reserve Bank of India (RBI) has imposed penalties of Rs.5 crore on Bank of Baroda, Rs.3 crore on Punjab National Bank and Rs.2 crore on HDFC Bank, in .....
Tags : Reserve Bank of India, Forex Scam
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Gujarat HC Dismisses PIL against Sudhir Mankad’s Appointment to RBI(26.07.2016)
Gujarat HC has junked PIL challenging appointment of ex-Chairman of Gujarat International Finance Tec-City (GIFT-City) Sudhir Mankad as a Non-Officiat.....
Tags : Gujarat HC, Sudhir Mankad , Reserve bank of India
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Bombay HC Issues Contempt Notice to RBI Regional Director(27.07.2016)
Bombay HC has issued contempt notice to Reserve Bank of India's (RBI) Regional Director in a contempt plea filed by Akhil Bharatiya Adivasi Karmachari.....
Tags : Bombay HC , Akhil Bharatiya Adivasi Karmachari Sanghatna, Reserve Bank of India
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RBI Imposes Rs 27-Crore Penalty on 13 Banks for FEMA Violations(28.07.2016)
Reserve Bank of India (RBI) has penalized 13 banks and slapped a fine of Rs 27 crore for violation of Foreign Exchange Management Act (FEMA) provision.....
Tags : Reserve Bank of India , FEMA, banks
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RBI: Retail Investors can Access G-Sec Market(29.07.2016)
Reserve Bank of India (RBI) has said that retail investors can access Government Securities (G-Sec) market, in a seamless manner from August 16.
Tags : Reserve Bank of India, G-Sec, retail investors
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RBI Releases Guidelines for On-Tap Licensing of Universal Banks in Private Sector(02.08.2016)
Reserve Bank of India (RBI) has released final guidelines for on-tap licensing of universal banks in private sector, under which it ring-fenced bankin.....
Tags : RBI , On-Tap Pvt Sector Bank Licences
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RBI Launches Website “Sachet” to Tackle Fraud(05.08.2016)
Reserve Bank of India (RBI) has launched a website named “Sachet” from which anyone can obtain information regarding entities that are allowed to acce.....
Tags : Reserve Bank of India , Sachet
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RBI Relaxes Norms in Cheque Dishonour Cases(05.08.2016)
Reserve Bank of India (RBI) has relaxed norms in cheque dishonour cases of Rs 1 crore and above.
Tags : Reserve Bank of India , Cheque Dishonour Cases
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RBI releases Guidelines for 'on tap' Licensing of Universal Banks in the Private Sector(01.08.2016)
The Reserve Bank of India released on its website, "Guidelines for 'on tap' Licensing of Universal Banks in the Private Sector". Key aspects of the Gu.....
Tags : Universal Banks, Licensing, Guidelines
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Madras HC Refuses to Grant Bail to Bank Lawyer for ‘Defrauding’ Money(10.08.2016)
Madras HC has refused to grant anticipatory bail to M.P. Venkatakrishnan, Assistant Manager (Legal) of HDFC Bank in Tirunelveli district, in two cases.....
Tags : Madras HC, Bank Lawyer, M.P. Venkatakrishnan
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RBI Authorises Select Bank Branches to Collect Advance Tax(16.08.2016)
Reserve Bank of India (RBI) has authorised various bank branches, including those of SBI, ICICI, HDFC Bank, PNB and Bank of Baroda, to collect income .....
Tags : Reserve Bank of India, Advance Tax
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Cancellation of licence to carry on banking business in India and, conversion of Urban Co-operative Bank into a Co-operative Society(10.08.2016)
Reserve Bank of India has cancelled the licence of Shri Yugprabhav Sahakari Bank Ltd., Vadodara (Gujarat) vide order dated June 29, 2016. In view of t.....
Tags : Licence, Cancellation, Banking business
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RBI to Banks: Provide Loans to Women SHGs at 7%(26.08.2016)
Reserve Bank of India (RBI) has asked banks to provide loans to women self-help groups (SHGs) at 7 per cent per annum, as per the government's revised.....
Tags : Reserve Bank of India, self-help groups
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RBI to CICs: Give FFCR to Individuals Once a year(02.09.2016)
Reserve Bank of India (RBI) has directed Credit Information Companies (CICs) to provide access to one Free Full Credit Report (FFCR), including credit.....
Tags : Reserve Bank of India, CICs, FFCR t
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Unless there is fraud of beneficiary or irretrievable harm or injury, Courts are not to interfere with encashment of Bank Guarantees(02.09.2016)
Appellant No. 1 a Joint Venture Company formed for specific purpose of constituting, commissioning and operating Kochi-Coimbatore-Erode-Salem LPG Pipe.....
Tags : Bank guarantee, Encashment, Delay, Financial Closure
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RBI extends validity of the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh(07.09.2016)
The Reserve Bank of India (RBI) has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of si.....
Tags : Extension, Direction, Mercantile Co-operative Bank
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Equitas Small Finance Bank Limited commences operations(12.09.2016)
The Reserve Bank of India has issued a licence to Equitas Small Finance Bank Limited under Section 22 (1) of the Banking Regulation Act, 1949 to carry.....
Tags : Bank, Equitas Small Finance, Licence
read»
Delhi HC Allows RBI to Intervene in Tata-NTT Docomo Case(06.10.2016)
Delhi HC has allowed the Reserve Bank of India (RBI) to file an intervention application in the enforcement proceedings initiated by NTT Docomo to rea.....
Tags : Delhi HC, Reserve Bank of India, Tata-NTT Docomo
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RBI Issues Operating Guidelines for Small Finance Banks and Payments Banks(07.10.2016)
Reserve Bank of India (RBI) has allowed payments banks and small finance banks to use digital banking to open bank accounts while streamlining their r.....
Tags : Reserve Bank of India, finance banks, payments banks, Guidelines
read»
Cabinet approves MoU between Export-Import Bank of India (Exim Bank) on General Cooperation with the New Development Bank (NDB), along with other Development Financial Institutions of BRICS nations(13.10.2016)
The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing of a Memorandum of Understanding (MoU.....
Tags : Approval, Exim Bank, Co-operation
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Reserve Bank Asks to Replace 17.5 Lakh Debit Cards(20.10.2016)
Reserve Bank of India (RBI) has asked banks to replace debit cards whose security is suspected to have been compromised after being used in some Autom.....
Tags : Reserve Bank of India, Automated Teller Machines
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RBI Permits 100% FDI in Regulated Financial Services(21.10.2016)
Reserve Bank of India (RBI) has permitted 100 % foreign direct investment in 'Other Financial Services' carried out by NBFCs, a move which will help a.....
Tags : Reserve Bank of India, 100% FDI , Regulated Financial Services
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RBI Allows Banks to Raise Funds Via Masala Bonds(04.11.2016)
Reserve Bank of India (RBI) has allowed banks to issue Rupee-Denominated Bonds, or Masala Bonds, in overseas market to shore up their capital base as .....
Tags : Reserve Bank of India , Masala Bonds
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RBI Permits Indian Subsidiaries of MNCs to Hedge Forex Exposure(07.11.2016)
Reserve Bank of India (RBI) has allowed Indian subsidiaries of multinational companies to hedge their foreign currency exposure through derivatives, O.....
Tags : Reserve Bank of India, Indian subsidiaries, foreign currency
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RBI: New Rs. 500, 2000 Notes From November 10(09.11.2016)
Reserve Bank of India (RBI) Governor, Urjit Patel has said that Apex Bank will launch new Rs 500 and Rs 2,000 currency notes from November 10.
Tags : Reserve Bank of India, New Rs. 500, 2000 Notes
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RBI Eases Stressed Asset Resolution Norms(11.11.2016)
Reserve Bank of India (RBI) has eased rules for various stressed asset resolution schemes and expanded scope of a loan recast plan previously limited .....
Tags : Reserve Bank of India , infrastructure sector, Stressed Asset Resolution
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Government of India cannot raise a dispute with a foreign government qua the private claim of its citizens(08.11.2016)
Instant Appeal is preferred against order of Single Judge dismissing writ petition by order holding that, merely because Government of India, on a rep.....
Tags : Foreign Bank, Amount, Release
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Withdrawal of Legal Tender Character of existing Rs. 500/- and Rs. 1000/- Bank Notes(09.11.2016)
Please refer to circular DCM (Plg) No. 1226/10.27.00/2016-17 November 08, 2016 on the captioned subject. In order to ensure that the ATMs stop dispens.....
Tags : Bank Notes, Withdrawal, Limits
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Constitution of Task Force for enabling dispensation of Mahatma Gandhi (New) Series Banknotes - Recalibration and reactivation of ATMs(14.11.2016)
It has become necessary to re-calibrate all ATMs/ Cash handling machines to dispense the new design notes following introduction of Mahatma Gandhi (Ne.....
Tags : Task force, Constitution, Bank Notes
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Bombay HC Seeks RBI’s Response Over Inconsistencies in Demonetization Directives to Co-operative Bank(22.11.2016)
Bombay HC, while observing that prima facie there were some inconsistencies in two circulars issued by Reserve Bank to District Co-Operative Banks on .....
Tags : Bombay HC, Reserve Bank, Co-Operative Banks, demonetisation
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Bombay HC Refuses to Hear Co-operative Banks Plea on Demonetization Issue(25.11.2016)
Bombay High Court has said that it cannot hear petitions filed by District Co-operative Banks on demonetization issue or grant any relief to them, and.....
Tags : Bombay High Court, Co-operative Banks, demonetization
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CIC: Records of Loans to Adani Groups Cannot be Disclosed under RTI(28.11.2016)
Central Information Commission (CIC) has held that records related to loans given to industries promoted by Gautam Adani cannot be disclosed as these .....
Tags : Central Information Commission, Gautam Adani , State Bank of India , Loans
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Withdrawal of Specified Banknotes : Cash requirements of pensioners and Armed Forces Personnel(24.11.2016)
In view of the withdrawal of legal tender character of the Specified Banknotes (SBN) demand for cash is expected from Government officials and pension.....
Tags : Demand, Bank notes, Government officials
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Hyderabad HC Questions Centre’s Policy over Role of Cooperative Banks in Demonetization Drive(30.11.2016)
Hyderabad High Court has questioned Centre as to why it was not taking into confidence Cooperative Banks in its fight against black money.
Tags : Hyderabad HC, Cooperative Banks , Demonetization
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Gujarat HC Seeks Centre’s, RBI’s Response over DCCBs Note Exchange Ban(30.11.2016)
Gujarat High Court has sought replies from Centre and RBI on a petition challenging legality of their notifications banning District Central Co-Operat.....
Tags : Gujarat High Court, demonetization, Co-Operative Banks
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RBI Capped Withdrawal From Jan Dhan Accounts to Rs. 10000 Per Month(30.11.2016)
Reserve Bank of India (RBI) has issued a notification saying that Jan Dhan Account Holders will be allowed to withdraw only Rs 10,000 a month, as a te.....
Tags : Reserve Bank of India, Jan Dhan Account, money laundering, withdraw
read»
Insolvency and Bankruptcy Code Kicks In With Effect From Today(01.12.2016)
Insolvency and Bankruptcy Code which aims to help quicker resolution of cases and unlock value of assets has become operational from today.
Tags : Insolvency and Bankruptcy Code
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Delhi HC Notices TATA, Docomo over RBI Application(02.12.2016)
Delhi High Court has asked NTT Docomo Inc. and Tata Sons Ltd to respond to a Reserve Bank of India (RBI) application seeking to be heard in a dispute .....
Tags : Delhi High Court, Docomo, Tata, Reserve Bank of India
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Supreme Court Directs Centre to List Out Measures Taken to Ease Inconvenience of Rural People(05.12.2016)
Supreme Court has asked Centre to spell out measures taken to ease sufferings and inconvenience of people in rural areas, who are mostly dependent on .....
Tags : Supreme Court, demonetisation, Co-operative banks
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Karnataka High Court Summons Vijay Mallya in Contempt Case(05.12.2016)
Karnataka High Court has ordered Businessman Vijay Mallya to appear before Court on 19 January for charges to be framed in a contempt case filed by pu.....
Tags : Karnataka High Court, Vijay Mallya, State Bank of India
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Bombay HC Directs to Break Bank Lockers to Unveil Demonetised Notes(05.12.2016)
Bombay High Court has appointed a court receiver to break open two bank lockers belonging to estate of the late classical singer and Sangeet Natak Aca.....
Tags : Bombay High Court, bank lockers , demonetised notes
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Gujarat HC Seeks RBI’s Response over its Power to Ban DCCB Transactions & Restricts Withdrawal Limits(06.12.2016)
Gujarat High Court has asked Reserve Bank of India (RBI) whether it has powers to ban transactions at District Central Cooperative Banks (DCCB) or res.....
Tags : Gujarat High Court, demonetization, Co-Operative Banks
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Bombay HC Directs RBI to Issue Payment of Salaries of Aided School Teachers(06.12.2016)
Bombay High Court has asked RBI to consider issue of payment of salaries to aided school teachers since it is disbursed through District Cooperative B.....
Tags : Bombay HC, District Cooperative Banks, salaries
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Gujarat HC: Spouse of Nationalised Banks Entitled for Inter-District Transfer Benefits(07.12.2016)
Gujarat High Court has held that a government employee, who is spouse of a nationalized bank employee, is entitled to inter-district transfer to place.....
Tags : Gujarat High Court, nationalized bank, employee, inter-district transfer
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RBI Eases Authentication Rules for Online Card Transactions(07.12.2016)
Reserve Bank of India (RBI) has removed two-factor authentication for online card transactions involving sums up to Rs2,000 in a move aimed at simplif.....
Tags : Reserve Bank of India, Online Card Transactions
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RBI Releases Fifth Bi-monthly Monetary Policy Statement, 2016-17; Kept Repo Rate Unchanged(07.12.2016)
Reserve Bank of India (RBI) has released Fifth Bi-monthly Monetary Policy Statement, 2016-17 wherein it has kept Repo rate unchanged at 6.25 percent, .....
Tags : Reserve Bank of India , Monetary Policy, Reverse Repo, Repo rate
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RBI Allows Use of OTP for Account Opening(09.12.2016)
To quicken the process of opening of bank account, Reserve Bank of India (RBI) has amended its know your customer (KYC) rules to allow banks to open n.....
Tags : RBI, Reserve Bank of India
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Issuance of Rs. 500 bank notes without inset letter, in the Mahatma Gandhi (New Series)(08.12.2016)
The Reserve Bank of India will shortly issue Rs. 500 denomination banknotes in the Mahatma Gandhi (New) Series, without any inset letter, bearing sign.....
Tags : Bank notes, Issuance, Inset Letter
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Centre Notifies Regulations for Liquidation Process Under New Bankruptcy Code(19.12.2016)
Central Government has notified rules by which companies can go through liquidation under Insolvency and Bankruptcy Code (IBC), 2016.
Tags : Central Government, liquidation, Insolvency and Bankruptcy Code (IBC), 2016
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Bank Lending and Loan Quality: The Case of India(14.12.2016)
The Reserve Bank of India today placed on its website a Working Paper titled 'Bank Lending and Loan Quality: The Case of India' under the Reserve Bank.....
Tags : Bank Lending, Loan Quality, Working paper
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RBI Relaxes Deposits Norm of More Than Rs 5,000 in Old Denominations For KYC A/Cs(21.12.2016)
Reserve Bank of India has relaxed its notification, specifying that deposits of over 5000 rupees could be made only after furnishing a satisfactory re.....
Tags : Reserve Bank of India, Old Denominations, Deposits, KYC A/Cs, demonetisation
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Distribution of Banknotes during November 10 to December 19, 2016(21.12.2016)
Consequent to the announcement of withdrawal of Legal Tender status of banknotes of Rs. 500 and Rs. 1000 denominations from the midnight of November 8.....
Tags : Bank Notes, Distribution
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RBI Eases Bad Loan Classification Norms For Small Borrowers, Farmers(29.12.2016)
Reserve Bank of India (RBI) has relaxed norms for bad loan classification for small borrowers, including farmers, giving them additional 30 days to re.....
Tags : Reserve Bank of India, loan, repayment, Small Borrowers
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RBI Extends Note Exchange Deadline for NRI’s till June 30(02.01.2017)
Reserve Bank of India has said that Non-resident Indians (NRIs) can exchange old Rs 500 and Rs 1000 notes till June 30, 2017.
Tags : Reserve Bank of India, Rs. 500, Rs. 1000, Demonetisation
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Issue of Rs. 20 banknotes without inset letter and intaglio printing(29.12.2016)
The Reserve Bank of India will shortly issue Rs. 20 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number .....
Tags : Rs. 20 banknotes, Issuance, Without inset letter
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RBI releases Primary (Urban) Co-operative Banks' Outlook 2015-2016(29.12.2016)
The Reserve Bank of India today released the third volume of the annual publication titled 'Primary (Urban) Co-operative Banks' Outlook 2015-16'. The .....
Tags : Co-operative Banks, Urban, Publication, Release
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Paytm Payments Bank Receives Final Approval From RBI(04.01.2017)
Reserve Bank of India (RBI) has given final approval to formally launch Paytm Payments Bank.
Tags : RBI, Paytm Payments Bank
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RBI Enhances Withdrawal Limits From ATMs From Rs. 4500 to Rs 10,000 Per Day(16.01.2017)
Reserve Bank of India (RBI) has enhanced limit on withdrawals from ATMs from current limit of Rs.4,500 to Rs.10,000 per day per card.
Tags : Reserve Bank of India, Withdrawal Limits, ATMs
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Government: Bank Deposits Before April 01, 2016 Can be Declared Under PMGKY(19.01.2017)
Govt has clarified that deposits in bank accounts made before 1 April 2016 can also be declared under Pradhan Mantri Garib Kalyan Yojana (PMGKY), the .....
Tags : Bank Deposits, Pradhan Mantri Garib Kalyan Yojana, income disclosure scheme
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PMGKD Scheme Amended to Exclude Co-operative Banks From Accepting Deposits(23.01.2017)
Central Government has amended Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 to exclude Co-operative Banks from accepting deposits under P.....
Tags : Pradhan Mantri Garib Kalyan Deposit Scheme, Co-operative Banks
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India Signs Financing Agreement with World Bank for US$ 48 Million for "Nagaland Health Project"(16.01.2017)
A financing agreement for IDA credit of US$ 48 million (equivalent) for the 'Nagaland Health Project' was signed with the World Bank here today. The F.....
Tags : World Bank, Financing, Health project, Nagaland
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RBI Bans Investments in ‘Non-cooperative Countries’(27.01.2017)
Reserve Bank of India (RBI) has prohibited Indian entities from making direct investments in any entity located in 'non co-operative countries and ter.....
Tags : Reserve Bank of India, Non-cooperative Countries, investments
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RBI Rejects EC Request to Enhance Withdrawal Limits For Poll Candidates(30.01.2017)
Reserve Bank of India (RBI) has rejected request of Election Commission (EC) to enhance weekly cash-withdrawal limit, imposed after demonetisation, fo.....
Tags : Reserve Bank of India, Election Commission
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Suryoday Small Finance Bank Limited commences operations(23.01.2017)
Suryoday Small Finance Bank Limited has commenced its operations as a small finance bank with effect from January 23, 2017. The Reserve Bank has issue.....
Tags : Finance Bank, Small, Operations
read»
RBI: No Restrictions on ATM Withdrawals From Feb 01(31.01.2017)
Reserve Bank of India (RBI) has said that limits on ATM withdrawals will further be eased from February 1 and curbs on branch withdrawals from current.....
Tags : Reserve Bank of India, ATM Withdrawals
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Bombay HC Slams RBI For Not Exchanging Old Notes in Deceased’s Locker(03.02.2017)
Bombay High Court came down heavily on Reserve Bank of India (RBI) for not complying with its order to change demonetised currency notes totalling Rs .....
Tags : Bombay High Court , Reserve Bank of India
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RBI Directs Banks to Report Cyber Crimes within 6 Hours(03.02.2017)
RBI, while asking banks to report any cyber security incident within two to six hours of its happening, has warned lenders that any delay in reporting.....
Tags : Reserve Bank of India, cyber security
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RBI Allows NRIs to Access ETCS Market(03.02.2017)
Reserve Bank of India (RBI) has allowed NRIs access to Exchange Traded Currency Derivatives (ETCD) market to hedge currency risk arising out of their .....
Tags : Reserve Bank of India, Exchange Traded Currency Derivatives
read»
RBI Issues Revised Guidelines For Commercial Papers(03.02.2017)
Reserve Bank of India (RBI) has issued revised guidelines for commercial papers, including mandating that the issuer must disclose end-use of such fun.....
Tags : Reserve Bank of India, commercial papers
read»
RBI Allows Banks to Use Statutory Reserves for AT1 Bond Coupon Payment(03.02.2017)
Reserve Bank of India has allowed banks to use statutory reserves to pay coupon (interest) on additional Tier-I bonds, subject to certain riders.
Tags : Reserve Bank of India, Tier-I bonds
read»
India Post Payments Bank Limited commences operations(30.01.2017)
India Post Payments Bank Limited has commenced operations as a payments bank with effect from January 30, 2017. The Reserve Bank has issued a licence .....
Tags : Payments bank, Operation, Commencement
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RBI Releases Fifth Bi-monthly Monetary Policy Statement, Maintains Status Quo on Repo Rate(08.02.2017)
Reserve Bank of India (RBI) has issued its sixth Bi-monthly Policy Statement for the year, wherein Apex Bank decided to hold on to repo rate at 6.25 p.....
Tags : Reserve Bank of India, Bi-monthly Policy Statement, repo rate
read»
RBI: No Cash Withdrawal Limits Post March 13(09.02.2017)
Reserve Bank of India (RBI) has said that cash withdrawal limits, currently in place for savings bank accounts will be removed in two stages, initiall.....
Tags : Reserve Bank of India, Cash Withdrawal
read»
Involvement of bank officials in money laundering during post monetization(07.02.2017)
Enforcement Directorate has intimated that bank employees have been found indulging in money laundering and other unfair practices during the phase of.....
Tags : Bank officials, money laundering, Investigation
read»
RBI Signs MOU on Information Exchange With Bank of Zambia(16.02.2017)
Reserve Bank of India has inked an information exchange pact with Bank of Zambia aimed at forging greater cooperation.
Tags : Reserve Bank of India, Bank of Zambia
read»
RBI Releases Draft MDR Norms(17.02.2017)
Reserve Bank of India (RBI) has released draft norms for revamping Merchant Discount Rate (MDR), with an aim to make it more cost effective and appeal.....
Tags : Reserve Bank of India, Merchant Discount Rate
read»
Inclusion of "Capital Small Finance Bank Limited" in the Second Schedule to the Reserve Bank of India Act, 1934(16.02.2017)
We advise that the "Capital Small Finance Bank Limited" has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notificat.....
Tags : Inclusion, Bank, Second Schedule, Act
read»
Cabinet approves acquisition of subsidiary banks of State Bank of India(15.02.2017)
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the acquisition by the State Bank of India of its subsidiary banks na.....
Tags : Acquisition, Subsidiary banks, Approval
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RBI: Now Withdraw Rs 50,000/Week From Your Saving Accounts(21.02.2017)
Reserve Bank of India (RBI) has enhanced withdrawal limit on saving accounts from February 20, 2017 to Rs 50,000 per week.
Tags : Reserve Bank of India, withdrawal limit
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Specified Bank Notes (Cessation of Liabilities) Bill, 2017 Receives President Assent(01.03.2017)
Specified Bank Notes (Cessation of Liabilities) Bill, 2017 that provides for cessation of liabilities on specified bank notes has received assent fr.....
Tags : Specified Bank Notes (Cessation of Liabilities) Bill, 2017
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Top Pvt Banks Slap Charges on Cash Transactions, Caps Free Transactions(02.03.2017)
Banks including HDFC, ICICI, Axis began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transac.....
Tags : Banks, Cash Transactions
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India Signs Financing Agreement with World Bank for US$ 63 Million for Tejaswini(28.02.2017)
A Financing Agreement for IDA credit of US$ 63 million (equivalent) for the "Tejaswini" Socio-Economic Empowerment of Adolescent Girls and Young Women.....
Tags : Empowerment, Adolescent Girls, Agreement, World bank
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Supreme Court Notices Centre Over RBI's Refusal to Exchange Demonetised Notes(06.03.2017)
Supreme Court has issued a notice to Central Government on a plea challenging Reserve Bank of India’s (RBI) refusal to accept Rs 500 and Rs 1,000 note.....
Tags : Supreme Court, Demonetised Notes, Reserve Bank of India
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Mandatory Requirement of AADHAR for Individuals Availing Facilities under Specified Schemes through Banks or Financial Institutions(01.03.2017)
Whereas, the use of Aadhaar as identity document for delivery of services or benefits or subsidies simplifies the Government delivery processes, bring.....
Tags : Aadhar, Mandatory, Scheme, Banks
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RBI Says ‘Banks Can Accept Coloured Notes’ Appeals to Avoid Dirtying Them(10.03.2017)
Reserve Bank of India has clarified that banks can accept colour-stained notes amid messages circulating on WhatsApp that public sector banks have bee.....
Tags : Reserve Bank of India, Coloured Notes
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Reserve Bank of India Lifts All Limit on Cash Withdrawals(14.03.2017)
Reserve Bank of India has lifted all limits on cash withdrawals from banks and ATMs.
Tags : Reserve Bank of India, cash withdrawals
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Issue of Rs. 10 banknotes with improved security features(09.03.2017)
The Reserve Bank of India will shortly issue Rs. 10 denomination banknotes in the Mahatma Gandhi Series-2005 with inset letter 'L' in both the number .....
Tags : Bank Notes, Issuance, Security
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Delhi HC Grants One More Day to RBI For Finalizing Stand on Tata-Docomo Arbitration Award(15.03.2017)
Delhi High Court has allowed Reserve Bank of India (RBI) a further day to finalise its stand on enforcement of $ 1.18 billion Tata Sons-NTT DoCoMo arb.....
Tags : Delhi High Court , Reserve Bank of India, Tata Sons-NTT DoCoMo
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Kerala High Court Dismisses Plea Challenging Bank Merger(27.03.2017)
Kerala High Court has dismissed a batch of Public Interest Petitions challenging decision of State Bank of India (SBI) to acquire State Bank of Travan.....
Tags : Kerala High Court, State Bank of India
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Reserve Bank of India to Allow Exchange of Rs 4500 in Old Notes in Nepal(27.03.2017)
Reserve Bank of India (RBI) will allow exchange of up to Rs 4,500 in banned Indian currency notes to each Nepali national.
Tags : Reserve Bank of India, Demonetisation
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Bombay HC: Mere Repayment of Loan Amount ‘No Ground’ For Quashing Cheating Case(29.03.2017)
Bombay High Court has held that re-payment of loan amount will not have any adverse effect on a criminal prosecution and observed that offences involv.....
Tags : Bombay High Court, banking and loan transactions
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RBI: Banks to Remain Closed on April 1(31.03.2017)
Reversing its earlier order, Reserve Bank (RBI) has said that the bank branches dealing in government businesses need not remain open on April 1 in vi.....
Tags : Reserve Bank of India, April 1
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Status Quo on MDR: RBI(31.03.2017)
RBI has said that its mid-December 2016 ‘special measures’ on rationalisation of merchant discount rate (MDR) will continue whereby MDR for transactio.....
Tags : Reserve Bank of India, merchant discount rate
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Madras High Court Orders Status Quo on Service Conditions of Migrant Bank Employees(13.04.2017)
Madras High Court has ordered status quo on service conditions linked to terminal benefits, pension and seniority of migrant employees of five banks w.....
Tags : Madras High Court , State Bank of India
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RBI Revises Norms For Action Against Weak Banks(14.04.2017)
Reserve Bank of India (RBI) has tightened rules that trigger regulatory action on lenders when they fall short of capital or exceed bad loan limits.
Tags : Reserve Bank of India, Weak Banks
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Award Scheme For Outstanding Writings In The Field Of Banking Hindi Declaration Of Result For The Year 2015-16(17.04.2017)
Reserve Bank of India had invited entries under the captioned scheme vide press release dated 14 July 2016. On evaluation of the entries received, it .....
Tags : Scheme, Award, Banking hindi
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RBI: Banks Cannot Refuse to Accept Scribbled, Coloured, Faded Bank Notes(01.05.2017)
Reserve Bank of India (RBI) has clarified by its notification dated 25th April 2017 that bank branches cannot refuse to accept scribbled/coloured/fade.....
Tags : Reserve Bank of India, Scribbled, Coloured, Faded Bank Notes
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SCDRC Directs Bank to Pay 1L Compensation For Failure to Inform Loan Applicant of Rejection(02.05.2017)
State Consumer Disputes Redressal Commission, Maharashtra has held that failure to inform an applicant about rejection of his loan application constit.....
Tags : State Consumer Disputes Redressal Commission, Loan, Bank
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Banking Regulation Ordinance, 2017: RBI Gets Power to Initiate Insolvency Process Against Defaulters(05.05.2017)
President Pranab Mukherjee has approved Banking Regulation (Amendment) Ordinance, 2017 which gives power to Reserve Bank of India to initiate insolven.....
Tags : President Pranab Mukherjee, Banking Regulation (Amendment) Ordinance, 2017
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RBI Guidelines on Banking Regulation Act Stresses on Timeline for CAP in Joint Lenders Forum(10.05.2017)
RBI has issued directions u/s 35AB of Banking Regulation Act, 1949 stressing on timelines to be followed while finalizing a Corrective Action Plan (“C.....
Tags : RBI, Banking Regulation Act, 1949
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Govt: Specified Notes Confiscated on or before 30.12.2016 Can be Deposited in Any RBI Branch(17.05.2017)
Govt has notified rules regarding deposit of Rs. 1000 and Rs. 500 Currency Notes confiscated on or before 30.12.2016 which makes it possible for enfor.....
Tags : Specified Bank Notes (Deposit of Confiscated Notes) Rules, 2017
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Barabanki District Court Acquits Former AMU Scholar Gulzar Wani in Sabarmati Express Blast Case(22.05.2017)
Barabanki District Court has acquitted two accused in Sabarmati Express Blast Case of 2000.
Tags : Barabanki District Court, Sabarmati Express Blast Case
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NCLAT: 14 Days Timeline to Admit or Reject Case Under IBC a 'Mere Directive'(22.05.2017)
National Company Law Appellate Tribunal (NCLAT) has said that 14-day timeline for rejecting or admitting a case under Insolvency and Bankruptcy Code (.....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code
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NCLAT Rules 'Dispute' As Defined in IBC is Illustrative and Not Exhaustive(25.05.2017)
National Company Law Appellate Tribunal has held that the term “dispute” as defined in Insolvency and Bankruptcy Code (S. 9) is illustrative and not e.....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code
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RBI Issues Norms for Partial Credit Enhancement to Corporate Bonds(29.05.2017)
Reserve Bank of India has issued norms for Partial Credit Enhancement to Corporate Bonds making it mandatory for corporate bonds to have rating by a m.....
Tags : Reserve Bank of India, Partial Credit Enhancement
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RBI Revises Guidelines on Rationalization of Branch Authorization Policy(29.05.2017)
Reserve Bank of India (RBI) has liberalised Branch Authorization Policy and has also widened role of bank boards, making them responsible for complyin.....
Tags : Reserve Bank of India, Branch Authorization Policy
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RBI Maintains Status Quo, Keeps REPO Rate Unchanged at 6.25%(07.06.2017)
Reserve Bank of India (RBI) has held on to policy rate at 6.25 percent in its monetary policy review on June 7, 2017, the second bi-monthly review for.....
Tags : Reserve Bank of India, REPO Rate
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CIC Directs RBI To Appoint Nodal CPIO(14.06.2017)
Central Information Commission (CIC) has directed Reserve Bank of India to appoint a Nodal Central Public Information Officer (CPIO), in addition to c.....
Tags : Central Information Commission, Reserve Bank of India
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IBBI Notifies Inspection And Investigation Regulations(19.06.2017)
Insolvency and Bankruptcy Board of India has notified Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017 which .....
Tags : Inspection And Investigation Regulations, Insolvency and Bankruptcy Board of India
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Insolvency And Bankruptcy Board Notifies Fast Track Insolvency Resolution Process(19.06.2017)
IBBI has notified IBBI (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 which provide process from initiation of ins.....
Tags : Insolvency and Bankruptcy Board of India, Fast Track, Insolvency Resolution Process
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Govt: Aadhaar Mandatory for Opening Bank Accounts, Transactions Over Rs. 50,000(19.06.2017)
Government, through a notification amending a prevention of money laundering law, has made it mandatory to provide Aadhaar to open a bank account and .....
Tags : Government, Bank Accounts
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Cabinet approves Interest Subvention to banks on Short-Term crop loan to farmers(14.06.2017)
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18......
Tags : Approval, Interest Subvention, Banks
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#GST: CBEC Notifies Aadhaar/ Bank Account Based Verification for Purpose of CGST Rules(21.06.2017)
Central Board of Excise and Customs (CBEC) has notified Aadhaar based Electronic Verification Code (EVC) or Bank account based One Time Password as mo.....
Tags : Goods and Services Tax, GST, CGST Rules, Aadhaar/ Bank Account
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RBI Widens Scope of Ombudsman Scheme, Mobile And Electronic Banking Brought Under Purview(26.06.2017)
Reserve Bank of India has widened scope of its Banking Ombudsman Scheme 2006, to include inter alia deficiencies arising out of sale of insurance/ mut.....
Tags : Reserve Bank of India, Banking Ombudsman Scheme 2006
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Delhi HC Asks Canara Bank To Pay Rs. 2.62-Lakh Compensation For Wrongful Attachment of Property(26.06.2017)
Delhi High Court has directed bank to compensate petitioner for trauma and humiliation caused due to wrongful attachment of his property because of ba.....
Tags : Delhi High Court, Canara Bank
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NCLAT Widens Definition of “Dispute” to Resist an Action for Insolvency Under Bankruptcy Code(29.06.2017)
NCLAT has widened definition of 'dispute' u/s 8,9 of Insolvency and Bankruptcy Code to include, apart from existing suits and arbitrations, any other .....
Tags : NCLAT, Insolvency and Bankruptcy Code
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RBI issues direction limiting customer liability in online banking(06.07.2017)
RBI has issued direction limiting liability of customers due to recent increase in customer grievances related to unauthorised transactions. Direction.....
Tags : Limited liability, Online Banking, Directions
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SC Notices RBI, FM Over Plea For Exchange of Old Notes Found in Dead Parents’ Bank Locker(24.07.2017)
Supreme Court has issued notice to RBI and Finance Ministry on a fresh plea seeking permission to deposit Rs 60 lakh in old notes which were lying in .....
Tags : Supreme Court, Demonetised Notes, Reserve Bank of India
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NCLT: Proceedings u/s 138 NI Act Have Nothing To Do With Insolvency Application Under I&B Code(28.07.2017)
National Company Law Tribunal has ruled that disclosure of fact of initiation of proceedings u/s 138 of Negotiable Instruments Act in not necessary wh.....
Tags : National Company Law Tribunal, Insolvency and Bankruptcy Code
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#RBI Monetary Policy: Repo Rate, Reverse Repo Cut by 25 bps(02.08.2017)
Reserve Bank of India (RBI) has reduced its repo rate by 25 bps to 6% and the reverse repo rate by 25 bps to 5.75%.
Tags : Reserve Bank of India, Monetary Policy
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Annual Conference of Banking Ombudsmen 2017 - July 25, 2017(31.07.2017)
The Annual Conference of Banking Ombudsmen was held at Mumbai on July 25, 2017. Shri S S Mundra, Deputy Governor, Reserve Bank of India (RBI) inaugura.....
Tags : Conference, Banking, Ombudsmen
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Delhi HC Upholds Extradition of NRI to United States in Bank Fraud Conspiracy Case(10.08.2017)
Delhi High Court has upheld order of extradition of an NRI to United States in a case alleging bank fraud conspiracy.
Tags : Delhi High Court, Bank Fraud Conspiracy
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Government signs Global Environment Facility (GEF) Grant Agreement with the World Bank(16.08.2017)
The Government of India and the World Bank has signed a US dollar 24.64 million grant from the Global Environment Facility (GEF) in order to improve e.....
Tags : World Bank, Grant, Ecosystem, Improvement
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Cabinet gives in-principle approval for Public Sector Banks to amalgamate through an Alternative Mechanism(23.08.2017)
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given in-principle approval for Public Sector Banks to amalgamate through an Al.....
Tags : Approval, Banks, Amalgamation, Alternative Mechanism
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NCLAT: Pendency of Appeal Under Arbitration Act Does Not Bar Insolvency Process Under IBC(01.09.2017)
National Company Law Appellate Tribunal has observed that pendency of S.37 appeal under Arbitration Act cannot be treated as an ‘existence of dispute’.....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code
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Supreme Court: Insolvency and Bankruptcy Code Prevails Over State Laws(04.09.2017)
Supreme Court has ruled that the Insolvency and Bankruptcy Code, 2016 (Code), being a central statute, will prevail over the state laws that are repug.....
Tags : Supreme Court, Insolvency and Bankruptcy Code
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Department of Financial Services advises all Banks to take immediate steps to put restrictions on bank accounts of over two lakh 'struck off' companies(05.09.2017)
Government has stepped up decisive action against companies falling within the ambit of Section 248 of the Companies Act. The names of 2,09,032 compan.....
Tags : Bank accounts, Companies, 'Struck off'
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RBI Notifies P2P Lending Platforms as NBFCs(21.09.2017)
Reserve Bank of India has notified that Peer-to-Peer (P2P) lending platforms will fall under the ambit of a Non-Banking Financial Company (NBFC).
Tags : Reserve Bank of India, Non-Banking Financial Company
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RBI Amends Investment, Trading Rules for Banks(26.09.2017)
Reserve Bank of India (RBI) has barred banks from investing in category III Alternative Investment Funds, specified norms for their participation in c.....
Tags : Reserve Bank of India, Alternative Investment Funds
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Prospectus is a complete code in itself, candidates seeking admission under the Prospects are bound by the terms contained therein(20.09.2017)
In facts of present case, Department of Medical Education and Research, issued a Prospectus-cum-Application Form for admission to the Postgraduate Deg.....
Tags : Bank Guarantee, Condition, Legality
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Insolvency and Bankruptcy Board of India Relaxes Norms for Information Utilities(06.10.2017)
Insolvency and Bankruptcy Board of India has relaxed norms for information utilities, paving way for Indian companies listed on the stock exchanges to.....
Tags : Insolvency and Bankruptcy Board of India, Information Utilities
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Karnataka High Court Issues Notice to Centre, RBI over Plea to Cancel Axis Bank’s Licence(12.10.2017)
Karnataka High Court on Wednesday ordered issue of notices to the Ministry of Finance and the Reserve Bank of India on a petition seeking cancellation.....
Tags : Karnataka High Court, Axis Bank
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Award for outstanding writings in the field of Banking Hindi(16.10.2017)
With a view to encourage original writings and research in Banking Hindi, Reserve Bank of India has launched an 'Award scheme for outstanding writings.....
Tags : Outstanding writings, Banking Hindi, Award
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Award for outstanding writings in the field of Banking Hindi(16.10.2017)
With a view to encourage original writings and research in Banking Hindi, Reserve Bank of India has launched an 'Award scheme for outstanding writings.....
Tags : Outstanding writings, Banking Hindi, Award
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India Signs Loan Agreement with World Bank for US$ 119 Million for "Odisha Higher Education Programme for Excellence and Equity (OHEPEE) Project(07.11.2017)
A Financing Agreement for IBRD loan of US$ 119 million (equivalent) for the "Odisha Higher Education Programme for Excellence & Equity (OHEPEE) Projec.....
Tags : Loan Agreement, World Bank, Signing of
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Merits and the terms of contract are irrelevant for invoking of the bank guarantees(15.11.2017)
The Petitioner has filed present petition under Section 9 of the Arbitration and Conciliation (Amendment) Act, 2015 with a prayer that, Respondents be.....
Tags : Bank guarantee, Encashment
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India Signs Loan Agreement with World Bank for USD 100 Million for "Shared Infrastructure for Solar Parks Project"(20.11.2017)
A Guarantee Agreement for IBRD/CTF loan of USD 98 million and Grant Agreement for USD 2 million for the "Shared Infrastructure for Solar Parks Project.....
Tags : Loan Agreement, World Bank, Solar Parks, Project
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Reporting of Transactions by agency banks to RBI(30.11.2017)
It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current tra.....
Tags : RBI, Agency Banks, Transactions
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Credit co-operative society providing credit etc. to its members cannot be treated as a ‘co-operative bank’ carrying on banking activities(27.11.2017)
The Assessee, in the present case, is a credit co-operative society who provided credit/loan facilities to its members and accepted deposits from them.....
Tags : Credit Cooperative Society; Cooperative Bank, Deduction
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RBI Keeps Repo Rate Unchanged at 6%, Raises Inflation Forecast for Next Two Quarters(06.12.2017)
Reserve Bank of India (RBI) has kept repo rate unchanged at 6 percent. The inflation forecast for the next two quarters has been increased from 4.2 - .....
Tags : Reserve Bank of India
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Government Extends Aadhaar-Bank A/C Linking Deadline to March 31, 2018(14.12.2017)
Government has decided to notify 31st March, 2018 or six months from the date of commencement of bank account based relationship by the client, whiche.....
Tags : Aadhaar, Bank
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Lawyer Can Issue Demand Notice of Unpaid Operational Debt on Behalf of Operational Creditor: SC(18.12.2017)
Supreme Court has held that a lawyer on behalf of the operational creditor can issue a demand notice of an unpaid operational debt.The court also held.....
Tags : Supreme Court, Insolvency and Bankruptcy Code
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Government Panel invites suggestions/comments from stakeholders about the provisions of the Insolvency and Bankruptcy Code and the Rules and Regulations notified there under(14.12.2017)
In the First Meeting of the Insolvency Law Committee, held on 08th December, 2017, under the Chairmanship of the Secretary, Ministry of Corporate Affa.....
Tags : Suggestions, Stakeholders, Bankruptcy Code
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New $ 318 million loan Agreement Signed with World Bank to Support Climate Resilient Agriculture - over 500,000 Farmers to Benefit in Tamil Nadu(26.12.2017)
The Government of India, the Government of Tamil Nadu and the World Bank today signed a $318 million loan agreement for the Tamil Nadu Irrigated Agric.....
Tags : Loan Agreement, Signing of, World Bank
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Rajya Sabha Passes Insolvency and Bankruptcy Code Amendment Bill(03.01.2018)
Rajya Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2017, which bars unscrupulous persons from misusing the provisions of the .....
Tags : Rajya Sabha, Insolvency, Bankruptcy
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SC Stays NCLAT Order That Said Limitation Act Doesn’t Apply To Proceedings Under IBC(11.01.2018)
Supreme Court has stayed the order of the National Company Law Appellate Tribunal which said the provisions of the Limitation Act were not applicable .....
Tags : Supreme Court, Insolvency and Bankruptcy Code
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Government of India announces details of Bank recap and Comprehensive Reform Plan(24.01.2018)
The Government of India today unveiled details of the re-capitalisation of Public Sector Banks (PSBs) announced in October, 2017. The capital infusion.....
Tags : Bank recap, Details, Announcement
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RBI Notifies Levy of Penal Interest on Banks for Delayed Reporting of Transactions(12.02.2018)
Reserve Bank of India has issued a notification regarding levy of penal interest on the Banks for delayed reporting of transactions.
Tags : Reserve Bank of India
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RBI Withdraws CDR, SDR, S4A, JLF Schemes to Restructure Bad Loans(13.02.2018)
Reserve Bank of India has scrapped Corporate Debt Restructuring, Sustainable Structuring of Stressed Assets, Strategic Debt Restructuring, & Flexible .....
Tags : Reserve Bank of India, Insolvency
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RBI Withdraws CDR, SDR, S4A, JLF Schemes to Restructure Bad Loans(13.02.2018)
Reserve Bank of India has scrapped Corporate Debt Restructuring, Sustainable Structuring of Stressed Assets, Strategic Debt Restructuring, & Flexible .....
Tags : Reserve Bank of India, Insolvency
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Issuance of press release regarding management of operational risks inherent in the functioning of banks with respect to the SWIFT Infrastructure(20.02.2018)
Reserve Bank of India (RBI), as part of its ongoing efforts for strengthening of the supervisory framework in the country, has been issuing necessary .....
Tags : Management, Operational risks, Banks, Functioning
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RBI Refuses to Extend Deadline for PPIs to Complete Customer Verification(27.02.2018)
Reserve Bank of India (RBI) has refused to extend the 28 February deadline for prepaid payment instruments (PPIs) such as mobile wallets to complete k.....
Tags : Reserve Bank of India, prepaid payment instruments, know-your-customer
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RBI Imposes Penalty on Equitas for Selling MF, Insurance Products Without Approval(09.03.2018)
Reserve Bank of India (RBI) has imposed a penalty of Rs 10 lakh on Equitas Small Finance Bank for distributing mutual fund (MF), insurance and wealth .....
Tags : Reserve Bank of India, Equitas Small Finance Bank
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Linking of SWIFT to the Core Banking System(22.03.2018)
Department of Economic Affairs has apprised that in pursuance to the announcement made in the Budget Speech 2018-19 (para 75), a Steering Committee on.....
Tags : SWIFT, Linking, Banking System
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Reserve Bank of India imposes monetary penalty on IDBI Bank Limited(11.04.2018)
The Reserve Bank of India (RBI) has imposed, through an order dated April 09, 2018, a monetary penalty of Rs. 30 million on IDBI Bank Limited (the ban.....
Tags : Penalty, Imposition, IDBI Bank
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RBI issues Directions to the City Co-operative Bank Ltd., Mumbai, Maharashtra(18.04.2018)
The Reserve Bank of India (vide directive DCBS.CO.BSD-I/D-5/12.22.039/2017-18 dated April 17, 2018) has placed The City Co-operative Bank Ltd., Mumbai.....
Tags : Direction, Issuance, Bank
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India signs 200 million US Dollar Loan Deal with World Bank for National Nutrition Mission (POSHAN Abhiyaan) for 315 districts across all states/UTs(07.05.2018)
The Government of India signed a loan deal worth $ 200 million with the World Bank today for the National Nutrition Mission (POSHAN Abhiyaan). The loa.....
Tags : Loan Deal, World Bank, POSHAN Abhiyaan
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Government of India and World Bank signs $500 Million Additional Financing for Pradhan Mantri Gram Sadak Yojana Rural Roads Project(31.05.2018)
The Government of India and the World Bank today signed a $500 million loan agreement to provide additional financing for the Pradhan Mantri Gram Sada.....
Tags : Roads Project, Financing, World Bank
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RBI Hikes Repo Rate by 25 bps to 6.5%(01.08.2018)
Reserve Bank of India’s (RBI’s) monetary policy committee (MPC) has raised repo rate by 25 basis points (bps) to 6.5%.
Tags : Reserve Bank of India, Repo Rate
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IBC Will Override Provisions of Other Enactments Inconsistent With It : Supreme Court(16.08.2018)
Supreme Court has observed that Insolvency and Bankruptcy Code (IBC) will override anything inconsistent contained in any other enactment, including t.....
Tags : Supreme Court, Insolvency, Bankruptcy
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Clarification regarding bank guarantee requirement for bond executed by EOUs(14.08.2018)
1. Various representations have been received regarding difficulties faced by EOUs with respect to requirements of bank guarantees in view of Circular.....
Tags : Clarification, Bank guarantee, Bond, Execution
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PM launches India Post Payments Bank(01.09.2018)
The Prime Minister launched the India Post Payments Bank (IPPB). The initiative would enable banking services to reach the remotest places in the coun.....
Tags : Banking services, IPPB, Launch
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India signs Financing Loan Agreement with the World Bank for US$ 74 Million for Uttarakhand Workforce Development Project (UKWDP)(18.09.2018)
A Loan Agreement for IBRD Credit of US$74 million equivalent for the Uttarakhand Workforce Development Project (UKWDP) was signed with the World Bank .....
Tags : Loan Agreement, World Bank, Project (UKWDP)
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Government initiates consolidation - amalgamated entity to be India's third largest bank(17.09.2018)
First-ever three-way bank amalgamation process commences Government paves the way for amalgamated Public Sector Banks with global heft and business sy.....
Tags : Amalgamated entity, Largest bank , Initiation
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Causing Loss of Rs. 38K, Bank Peon’s Conviction Upheld by SC After 24 Years(04.10.2018)
Supreme Court has upheld the conviction of bank’s peon after 24 Years, who doubled as cash clerk due to shortage of staff, for corruption and causing .....
Tags : Supreme Court, Bank Peon
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Reserve Bank of India imposes monetary penalty on Federal Bank Limited(03.10.2018)
The Reserve Bank of India (RBI) has imposed, by an order dated September 25, 2018, a monetary penalty of Rs. 50 million on Federal Bank Limited (the b.....
Tags : Penalty, Federal bank, Imposition
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What Protection is Available to a Depositor if Bank Fails: Delhi High Court asks Centre(09.10.2018)
Delhi High Court has asked Centre that what is the protection available to customers having deposits of over Rs 1 lakh if a bank fails and said that i.....
Tags : Supreme Court, Banks
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Limitation Act Applicable to Applications Filed Under Sec 7 and 9 of IBC from Inception of Code: SC(12.10.2018)
Supreme Court has held that the Limitation Act is applicable to applications filed under Sections 7 and 9 of Insolvency and Bankruptcy Code From the i.....
Tags : Supreme Court, Insolvency and Bankruptcy Code
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CVC analyses 100 top bank frauds - identifies loop holes-suggests systemic improvements(16.10.2018)
Central Vigilance Commission (CVC) has reviewed and analyzed Top 100 Bank Frauds, as on 2017.
Sharing the details Dr. T.M. Bhasin, Vigilan.....
Tags : Bank frauds, Loop holes, Identification
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Financial Service Providers Outside Purview of Insolvency and Bankruptcy Code: NCLAT(24.10.2018)
National Company Law Appellate Tribunal has held that financial service providers such as non-banking financial companies are outside the purview of t.....
Tags : NCLAT, Financial Service Providers, Insolvency and Bankruptcy Code
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Financial Service Providers Outside Purview of Insolvency and Bankruptcy Code: NCLAT(24.10.2018)
National Company Law Appellate Tribunal has held that financial service providers such as non-banking financial companies are outside the purview of t.....
Tags : NCLAT, Financial Service Providers, Insolvency and Bankruptcy Code
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Autonomy for Central Bank, within the Framework of the RBI Act, Is an Essential and Accepted Governance Requirement: Says Government(31.10.2018)
The autonomy for the Central Bank, within the framework of the RBI Act, is an essential and accepted governance requirement. Governments in India have.....
Tags : Autonomy, Central Bank, Governance
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Payments Bank and Small Finance Banks- access to Call/Notice/Term Money Market(29.10.2018)
1. A reference is invited to Master Direction No.2/2016-17, dated July 7, 2016 on Money Market Instruments. A reference is also invited to the Guideli.....
Tags : Payments Bank, Small Finance Banks, Access
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Reserve Bank of India imposes monetary penalty on FINO Payments Bank Limited(05.11.2018)
The Reserve Bank of India (RBI) has, on October 31, 2018, imposed a monetary penalty of Rs. 10 million on FINO Payments Bank Limited (the bank) for co.....
Tags : Penalty, Imposition, Bank Limited
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Corporate Debtor can’t Maintain Appeal Under Insolvency & Bankruptcy Code: NCLAT(16.11.2018)
National Company Law Appellate Tribunal has dismissed an appeal filed by M/s Radius Infratel Pvt. Ltd. and held that corporate debtor cannot maintain .....
Tags : NCLAT, Insolvency & Bankruptcy Code
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RBI imposes monetary penalty on The Jammu and Kashmir Bank Ltd(14.11.2018)
The Reserve Bank of India (RBI) has imposed, by an order dated November 05, 2018, a monetary penalty of Rs. 30 million on The Jammu and Kashmir Bank L.....
Tags : Penalty, Imposition, Bank
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Non-Residents Not Required to Disclose Their Foreign Bank Accounts: ITAT(26.11.2018)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the non-residents are not required to disclose the details of their foreign bank accounts a.....
Tags : ITAT, Non Residents Bank Accounts
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First Time Dispute in Reply of Demand Notice Doesn't Constitute Pre Existing Dispute Under IBC: NCLAT(30.11.2018)
National Company Law Appellate Tribunal has held that a dispute raised for the first time in reply to demand notice or in response to Adjudicating Aut.....
Tags : NCLAT, Insolvency and Bankruptcy Code
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Application Under Sec. 7 of IBC can’t be Admitted After Settlement Between Parties: NCLAT(06.12.2018)
National Company Law Appellate Tribunal has declared admission of application under Section 7 of the Insolvency and Bankruptcy Code after settlement b.....
Tags : NCLAT, Section 7 of Insolvency and Bankruptcy Code
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Court is empowered to grant leave to a disqualified person to manage a corporation(04.12.2018)
By originating process lodged 17 September 2018 the plaintiff seeks leave of the court under s 206G of the Corporations Act, 2001 to be a director of .....
Tags : Bankrupt, Act as director, application
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Supreme Court Rejects Plea of Axis Bank Against Release of Arbitral Award Money to Daiichi(14.12.2018)
Supreme Court has refused to entertain an Axis Bank plea opposing release of Rs 9.39 crore, which is part of Rs 3,500 crore awarded by a Singapore tri.....
Tags : Supreme Court, Axis Bank, Daiichi Sankyo
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NCLT Approves Merger of Capital First with IDFC Bank(14.12.2018)
National Company Law Tribunal (NCLT) has approved the amalgamation of Capital First, Capital First Home Finance, and Capital First Securities with IDF.....
Tags : NCLT, IDFC Bank
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Bombay HC Refuses to Stay RBI Deadline to Kotak Mahindra Bank to Dilute Promoter Stake(18.12.2018)
Bombay High Court has refused to stay the Reserve Bank of India’s deadline of December 31 for dilution of promoter stake in Kotak Mahindra Bank.
Tags : Bombay High Court, Kotak Mahindra Bank
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Law to check scams in Banks(18.12.2018)
The Government has initiated formulation of laws to secure prudential banking and help effect a culture of credit discipline, including, inter alia, i.....
Tags : Scams, Banks, Law
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Central Government approves recapitalisation of Export-Import Bank of India(16.01.2019)
The Union Cabinet, chaired by the Prime Minister has approved the recapitalization of EXIM Bank. Recapitalization Bonds by Government of India to the.....
Tags : Recapitalisation, Exim bank, Approval
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Supreme Court Upholds Validity of Insolvency & Bankruptcy Code(28.01.2019)
Supreme Court has upheld the two-year old insolvency code in its entirety, quashing petitions which challenged the law saying it was discriminatory.
Tags : Supreme Court, Insolvency & Bankruptcy Code
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Madras HC Allows ICICI Bank to Recover Rs. 222 Crore Dues from Subhiksha Trading Services(07.02.2019)
Madras High Court, in a reprieve to ICICI Bank, has ruled that it finds no ground to interfere in order of Chennai Debts Recovery Appellate Tribunal .....
Tags : Madras High Court, Subhiksha Trading Services, ICICI Bank
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Reserve Bank of India imposes monetary penalty on Syndicate Bank(05.02.2019)
The Reserve Bank of India (RBI) has imposed, by an order dated January 30, 2019, a monetary penalty of Rs. 10 million on Syndicate Bank (the bank) for.....
Tags : Penalty, Imposition, Syndicate Bank
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No Right with Bank Employee to be Associated with Decision Making Process for Fixation Of Salary: SC(13.02.2019)
Supreme Court has observed that the employee of a Bank has no right that he should be associated with the decision-making process in respect of the fi.....
Tags : Supreme Court, Bank Employee, Fixation Of Salary
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CIVIL - IBC Reigns Supreme Over Other Civil Laws: Delhi High Court(25.02.2019)
Delhi High Court on Friday upheld the supremacy of Insolvency and Bankruptcy Code (IBC) over other civil laws such as those of contracts and guarantee.....
Tags : Delhi High Court, Insolvency and Bankruptcy Code, IBC
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CIVIL - IBC Reigns Supreme Over Other Civil Laws: Delhi High Court(25.02.2019)
Delhi High Court has upheld supremacy of Insolvency and Bankruptcy Code (IBC) over other civil laws such as those of contracts and guarantees and said.....
Tags : Delhi High Court, Insolvency and Bankruptcy Code, IBC
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MRTP/ COMPETITION LAWS - CCI Clears SoftBank’s 22.44% Stake Buy in Delhivery(28.02.2019)
Competition Commission of India (CCI) has said it has approved acquisition of 22.44 % stake in logistics firm Delhivery by SoftBank Vision Fund.
Tags : Competition Commission of India, Delhivery, SoftBank Vision Fund
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Prompt Corrective Action (PCA) Framework(26.02.2019)
The Board for Financial Supervision (BFS), in its meeting held on February 26, 2019 reviewed the performance of banks under PCA and noted that the Gov.....
Tags : Banks, Performance, Review
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CIVIL - Kerala HC Directs District Collectors to be Present in Proceedings Regarding Formation of Kerala Bank(06.03.2019)
Kerala High Court has directed seven District Collectors to be present in person during meeting to be held at district banks concerning finalising the.....
Tags : Kerala High Court, Kerala Bank
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INSOLVENCY - NCLT Rejects Karur Vysya Bank’s Plea Against ArcelorMittal Plan for Essar Steel(08.03.2019)
National Company Law Tribunal has rejected Karur Vysya Bank’s plea to quash Rs 42,000-crore resolution plan of ArcelorMittal for distressed Essar Stee.....
Tags : NCLT, Essar Steel, Karur Vysya Bank
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India Signs Loan Agreement with the World Bank for USD 25.2 Million for Chhattisgarh Public Financial Management and Accountability Program(05.03.2019)
The Government of India, the State Government of Chhattisgarh and the World Bank signed here in New Delhi today a $25.2 Million Loan Agreement to supp.....
Tags : Loan Agreement, World bank, Signing of
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INSOLVENCY - NCLT Admits ICICI Bank's Insolvency Plea Against Punj Lloyd(11.03.2019)
National Company Law Tribunal (NCLT) has admitted an insolvency plea against Punj Lloyd filed by ICICI Bank Ltd. for a default of Rs. 853.83 crore.
Tags : NCLT, Punj Lloyd, ICICI Bank
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BANKING - SC Stays Bombay HC Order Directing Federal Bank to Pay Rs. 4 cr to Harshad Mehta's Wife(12.03.2019)
Supreme Court has stayed order of Bombay High Court that directed Federal Bank to pay Rs. 4 crore with 18 per cent interest from 1992 to the wife of l.....
Tags : Supreme Court, Federal Bank, Harshad Mehta
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COMPANY - NCLAT Slams RCom's Lender SBI over Rs. 37,000 Crore Asset Sale(12.03.2019)
National Company Law Appellate Tribunal has slammed lenders of Reliance Communications, State Bank of India, for painting a rosy picture of Anil Amban.....
Tags : NCLAT, State Bank of India, Reliance Communication
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BANKING - Bombay HC Refuses Interim Relief to Kotak Mahindra Bank on Promoter Stake Issue(13.03.2019)
Bombay High Court has refused to grant any interim relief to Kotak Mahindra Bank on Reserve Bank of India’s direction to dilute promoter shareholding .....
Tags : Bombay High Court, Kotak Mahindra Bank, Reserve Bank of India
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CIVIL - SC Refuses to Stay Merger of Vijaya, Dena Banks with Bank of Baroda(29.03.2019)
Supreme Court has refused to stay amalgamation of three public sector lenders Vijaya Bank, Dena Bank and Bank of Baroda and dismissed applications fil.....
Tags : Supreme Court, Vijaya Bank, Dena Bank
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BANKING - SC Refuses to Stay Merger of Vijaya, Dena Banks with Bank of Baroda(29.03.2019)
Supreme Court has refused to stay amalgamation of three public sector lenders Vijaya Bank, Dena Bank and Bank of Baroda and dismissed applications fil.....
Tags : Supreme Court, Vijaya Bank, Dena Bank
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BANKING - CBI Court Convicts Ex Indian Bank CMD for Fraud(30.03.2019)
A Special CBI Court has convicted and sentenced former Indian Bank Chairman and Managing Director M Gopalakrishnan and 11 others to three years Rigoro.....
Tags : CBI Court, Ex Indian Bank CMD, M Gopalakrishnan
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CRIMINAL - CBI Court Convicts Ex Indian Bank CMD for Fraud(30.03.2019)
A Special CBI Court has convicted and sentenced former Indian Bank Chairman and Managing Director M Gopalakrishnan and 11 others to three years Rigoro.....
Tags : CBI Court, Ex Indian Bank CMD, M Gopalakrishnan
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SC Strikes Down RBI Circular on Defaulting Firms, Calls it Unconstitutional(02.04.2019)
Supreme Court has quashed a Reserve Bank of India circular of February 12, 2018, asking banks to classify a loan account as stressed if there was even.....
Tags : Supreme Court, Reserve Bank of India
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RBI Releases First Bi-Monthly Monetary Policy Statement, 2019-20(04.04.2019)
Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) has announced its resolution under first bi-monthly monetary policy statement for 2019-.....
Tags : Reserve Bank of India, RBI, First Bi-monthly Monetary Policy Statement, 2019-20
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Reserve Bank Employees are Not Central Government Servants: Madras HC(15.04.2019)
Madras High Court has observed that the employees of Reserve Bank of India cannot be called as Government employees.
Tags : Supreme Court, Reserve Bank of India
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RBI Employees are Not Central Government Servants: Madras HC(15.04.2019)
Madras High Court has held that employees of Reserve Bank of India cannot be called as Government employees and also observed that fact that Central G.....
Tags : Madras High Court, Reserve Bank of India
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Exclusion of "DBS Bank Ltd" from the Second Schedule of the Reserve Bank of India Act, 1934(16.04.2019)
Consequent upon setting up of 'DBS Bank India Limited' as a Wholly Owned Subsidiary of 'DBS Bank Ltd', it has been decided to exclude 'DBS Bank Ltd' f.....
Tags : Enactment, Exclusion, DBS Bank
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Bank Employee Working in its Legal Branch Ineligible to Become Judge: Gujarat HC(30.04.2019)
Gujarat High Court has dismissed a plea of a 'banker' who aspired to become a judicial officer and observed that a bank employee, could not be treated.....
Tags : Gujarat High Court, Bank Employee, Judge
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NCLT Orders Insolvency Proceedings Against Karur KCP Packkagings(30.04.2019)
National Company Law Tribunal (NCLT) has ordered insolvency process against Tamil Nadu-based publicly-listed packaging company Karur KCP Packkagings o.....
Tags : NCLT, KCP Packkagings, Karur Vysya Bank
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Manager of Nationalized Bank Though a Public Servant Can't Claim Protection U/S 197 CrPC: SC(01.05.2019)
Supreme Court has observed that a public servant working in a nationalized bank cannot claim benefit of Sanction under Section 197 of the Criminal Pro.....
Tags : Supreme Court, Nationalized Bank, Section197 CrPC
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Manager of Nationalized Bank Though a Public Servant Can't Claim Protection U/S 197 CrPC: SC(01.05.2019)
Supreme Court has observed that a public servant working in a nationalized bank cannot claim benefit of Sanction under Section 197 of the Criminal Pro.....
Tags : Supreme Court, Nationalized Bank, Section197 CrPC
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