19 August 2019


Search Results for Tag : Bank

Judgments

No necessity for complaint to aver actual date of service of notice against dishonoured cheque(17.08.2015)

If the complaint contains the date of issuance of registered notice, merely not containing the date of receipt of information from the bank regarding .....

Tags : Banking, cheque, date of service, notice

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Invocation of bank guarantee restricted only for fraud and irretrievable injustice(02.11.2015)

The Delhi High Court allowed an appeal against an order restraining the encashment of a bank guarantee by the Appellant. It noted that as per preceden.....

Tags : Bank guarantee, prejudice, future success

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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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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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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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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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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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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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Notifications & Circulars

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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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

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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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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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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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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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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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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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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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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

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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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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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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

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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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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

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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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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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Advance against pledge of gold ornaments and jewellery(15.10.2015)

Reserve Bank of India has extended its policy standardising the valuation of gold jewellery presented towards security or collateral to cooperative ba.....

Tags : Valuation, gold, ornaments, jewllery, cooperative bank

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Revised Guidelines for the Financial Inclusion Fund(15.10.2015)

In light of the merging of the Financial Inclusion Fund and the Financial Inclusion Technology Fund to form the FIF as it exists today, the Reserve Ba.....

Tags : Bank, financial inclusion guidelines, fund

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Revised directions for acquisition of shares and voting rights in private banks(19.11.2015)

The Reserve Bank of India issued revised guidelines requiring prior approval for acquiring share or voting rights in private sector banks. Two amendme.....

Tags : Private bank, voting rights, acquisition, fit and proper

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RBI permits internet banking in regional rural banks(19.11.2015)

The Reserve Bank of India permitted Regional Rural Banks to provide internet banking facilities to their customers, provided they have implemented the.....

Tags : Regional, rural bank, internet banking

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Withdrawal of all old series of Banknotes issued prior to 2005(23.12.2015)

The Reserve Bank of India has extended the date by which pre-2005 banknotes are to be exchanged to 30 June, 2016. An earlier notification had set 31 D.....

Tags : Banknotes, old series, 2005, withdrawal

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Trend and Progress of Banking in India 2014-15 and Financial Stability Report December 2015(23.12.2015)

The Reserve Bank of India released its Report .....

Tags : Banking, indicators, 2015, december

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RBI dispels rumour on non-acceptance of scribbled-on currency(14.12.2015)

The Reserve Bank of India issued a clarificatory statement to dispel rumours in social media that banks will not accept currency notes which have been.....

Tags : Bank note, scribble, tender, rumour

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Composition and Ownership of Deposits with Scheduled Commercial Banks(11.01.2016)

The Reserve Bank of India released data related to the composition and ownership pattern of deposits with scheduled commercial banks as of March 31, 2.....

Tags : Scheduled banks, deposits, march 2015

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General guidelines for implementation of e-payment of excise refund and rebate(12.01.2016)

The Central Board of Excise and Customs has prescribed procedure for e-payment of refund and rebate. The procedure is hoped to speed transfer of funds.....

Tags : Excise, e-payment, refund, rebate, authorised banks

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RBI Committee suggests Way Forward for UCBs(20.08.2015)

The Reserve Bank of India released the 'Report of the High Powered Committee on Urban Co-operative Banks'. Recommendations in the Report focus on busi.....

Tags : Rbi, urban co-operative, bank, report

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RBI grants "in-principle" approval to 11 Applicants for Payments Banks(19.08.2015)

The Reserve Bank of India granted "in-principle" approval to 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Ban.....

Tags : Rbi, payments banks, approved, guidelines

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Section 23 of the Banking Regulation Act, 1949 - Relaxations in Branch Authorisation Policy.(06.08.2015)

In order to allow banks greater operational freedom, the Reserve Bank of India reviewed instructions regarding merger, closure, shifting, part shiftin.....

Tags : bank, branch, opening, policy

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Conduct of Government Business by Agency Banks - Payment of Agency Commission(13.08.2015)

The Reserve Bank of India issued a clarification on activities that do not come under the purview of agency bank business and are not eligible for pa.....

Tags : agency commission, government business, banks

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Bank Holiday on Second and Fourth Saturdays from September 1(28.08.2015)

All scheduled and non-scheduled banks - public, private, foreign, cooperative, regional rural and local area banks - will observe public holiday on se.....

Tags : Banking, holiday, saturday

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Changes in RTGS time window(01.09.2015)

The Reserve Bank of India notified that RTGS will not be operated on second and fourth Saturdays, but would operate for the full day on working Saturd.....

Tags : Rtgs, bank, timings, window, transfer

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RBI to issue Rs. 5 Coins to commemorate "Golden Jubilee of Indo-Pak War 1965"(03.09.2015)

The Reserve Bank of India will put into circulation Rs. 5 coins to commemorate the Golden Jubilee of Indo-Pak war 1965. Existing coins in the denomina.....

Tags : Bank, coin, war, commemorate, denomination

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Import-export payments facilitated by OPGSP(24.09.2015)

Reserve Bank of India has permitted AD Category-1 banks to offer the facility of repatriating import related remittances, in respect of import of good.....

Tags : Bank, import, remittance, online payment

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Health Ministry permits transfer of blood between Blood Banks(19.10.2015)

To utilise its blood banks better and reduce scarcity, the Ministry of Health and Family Welfare has permitted transfer of blood from one bank to anot.....

Tags : Health, blood, bank, transfer, plasma

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RBI signs MoU on "Supervisory Cooperation and Exchange of Supervisory Information" with the Central Bank of UAE(19.10.2015)

Reserve Bank of India signed a Memorandum of Understanding with the Central Bank of UAE. The agreement is hoped to increase supervisory co-operation b.....

Tags : Rbi, central bank, uae, cooperation

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Amendment to exemption on certain taxable services from service tax under Section 66B of the Finance Act, 1994(21.10.2015)

The Central Government has made amendment to a Notification granting exemption on certain taxable services from whole of service tax leviable under Se.....

Tags : Pmjdy, rural, bank, correspondent, exempt, service tax

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Timeframe for implementation of Ind AS for scheduled commercial banks(11.02.2016)

The Reserve Bank of India notified scheduled commercial banks are required to comply with Indian Accounting Standards (Ind AS) for accounting periods .....

Tags : Indian accounting standards, commercial banks, implementation

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Withdrawal of old series banknotes issued prior to 2005 deferred(11.02.2016)

The Reserve Bank of India extended the deadline for exchanging pre-2005 banknotes to 30 June, 2016. Exchange on banknotes in 2016 will only be done at.....

Tags : Rbi, banknotes, pre-2005, deadline, extend

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Pay IT dues in advance at RBI or authorised bank branches(15.02.2016)

The Reserve Bank of India has authorized twenty nine agency banks to accept payments of income tax. The move hopes to reduce the heavy rush for remitt.....

Tags : Income tax, payment, agency banks, march

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Incognito visits to check banks’ customer service(16.02.2016)

The Reserve Bank of India is set to undertake incognito visits to bank branches to check the culture towards customer complaints in banks. It will als.....

Tags : Banks, Customer complaints, culture, charter

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Diamond Dollar Account - Reporting Mechanism(23.03.2016)

The Reserve Bank of India has dispensed with quarterly and fortnightly statements previously submitted by banks giving details of the name and address.....

Tags : Diamond dollar, bank account, statement

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Extending value-added services through ATMs(23.03.2016)

The Reserve Bank of India has permitted Primary (Urban) Co-operative Banks and State Co-operative Banks to offer all their products and services throu.....

Tags : Atm, value added services, co-operative bank

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Internet Banking Facility for Customers of Cooperative Banks(05.11.2015)

The Reserve Bank of India has allowed State Cooperative Banks and District Central Cooperative Banks to provide Internet Banking facilities to their c.....

Tags : Internet banking, cooperative, guidelines

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RBI ends barter trade between India and Myanmar(05.11.2015)

The Reserve Bank of India has called an end to barter trade at the Indo-Myanmar Border, permissible since 2000. Noting that with a sufficiently divers.....

Tags : Myanmar, barter, end, trade, bank, 2015

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Guidelines for Standalone PD participation in Exchange Traded Currency Futures(17.03.2016)

The Reserve Bank of India issued guidelines

Tags : Bank, primary dealers, currency, futures

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Oversight of Government Business in Agency Banks(07.04.2016)

The Reserve Bank of India put in place a new system of oversight of government business conducted with agency banks. The new enlarged review will now .....

Tags : Government business, agency bank, inspection

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Portal for trading Priority Sector Lending Certificates(07.04.2016)

The Reserve Bank of India issued instructions on trading of Priority Sector Lending Certificates – to facilitate a trading platform via its Core Banki.....

Tags : Pslc, trading, ekuber, core banking

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Banks now able to authorise establishment of branch office of foreign entities(12.04.2016)

The Reserve Bank of India has empowered AD Cat-I Banks to grant approvals for establishment of Branch Offices, Liaison Offices and Projects Offices in.....

Tags : Foreign entity, branch office, bank

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RBI to assist cooperative banks in uptake of Core Banking(13.04.2016)

To ensure implementation of Core Banking System in Urban Cooperative Banks, the Reserve Bank of India will dole out Rs. 4 lakh to each to cover initia.....

Tags : Cooperative banks, core banking

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Provisioning pertaining to Fraud Accounts(18.04.2016)

Reserve Bank of India notified amendments to provisions in respect of Fraud Accounts. Banks making good amounts upon detection of fraud can adjust fin.....

Tags : fraud accounts, banks, adjustment, profit and loss

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RBI to issue of Rs. 100 banknotes with inset letter 'L'(20.04.2016)

The Reserve Bank of India continued its trend of “ascending size of numerals” on bank notes with changes to Rs. 100 currency notes. The notes will be .....

Tags : rbi, banknotes, 100

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Banks must offer Wealth Management Services through subsidiary(21.04.2016)

The Reserve Bank of India clarified that banks cannot provide Investment Advisory Services (better known as ‘Wealth Management Services’) to its custo.....

Tags : investment advisors, banks, separation

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Reserve Bank of India (Issue and Pricing of Shares by Private Sector Banks) Directions, 2016(21.04.2016)

The Reserve Bank of India issued Master Directions on the issue and pricing of shares by private sector banks. Under the provisions, pricing of shares.....

Tags : private bank, share issue, pricing

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Reserve Bank of India (Amalgamation of Private Sector Banks) Directions, 2016(21.04.2016)

The Reserve Bank of India notified Master Directions regarding amalgamation of two banking companies or of a banking company and an NBFC. For both, am.....

Tags : amalgamation, private banks, nbfc

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Draft guidelines for ‘on tap’ licencing of universal banks(05.05.2016)

The Reserve Bank of India took a major step towards replacing its ‘stop and go’ policy for licensing universal with a more ‘continuous’ process by

Tags : Universal bank, licence, continuous process

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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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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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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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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 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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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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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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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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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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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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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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Issue of Rs. 10 Denomination Banknotes in Mahatma Gandhi (New) Series bearing the signature of Shri Shaktikanta Das, Governor(20.05.2019)

The Reserve Bank of India will shortly issue Rs. 10 denomination Banknotes in Mahatma Gandhi (New) Series bearing the signature of Shri Shaktikanta Da.....

Tags : Issue, Rs. 10 Denomination, Banknotes

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Tamil Nadu Health System Reform Program, Signing of $287 Million World Bank loan to improve healthcare in the State of Tamil Nadu(04.06.2019)

The Government of India, Government of Tamil Nadu (GoTN) and the World Bank signed here today in New Delhi a $287 Million Loan Agreement for the Tamil.....

Tags : Reform Program, World Bank, Loan, Healthcare

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Enforcement action in respect of statutory auditors of commercial banks(03.06.2019)

RBI vide its Press Release dated June 29, 2018 had put in place an enforcement action framework in respect of statutory auditors for the lapses in the.....

Tags : Statutory auditors, Commercial banks, Enforcement action

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Reserve Bank of India imposes monetary penalty on South Indian Bank Limited(19.06.2019)

The Reserve Bank of India (RBI) has imposed, by order dated June 13, 2019, monetary penalty of Rs.1 million on South Indian Bank Limited (the bank) fo.....

Tags : Monetary penalty, Imposition, South Indian Bank Limited

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Inclusion of "India Post Payments Bank Limited" in the Second Schedule of the Reserve Bank of India Act, 1934(03.07.2019)

We advise that the "India Post Payments Bank Limited" has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notificatio.....

Tags : Post Payments, Bank, Inclusion

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News

Rajya Sabha Passes Insolvency and Bankruptcy Code (Amendment) Bill, 2019(30.07.2019)

Rajya Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2019. This Bill if passed will , ease the process of corporate restructuri.....

Tags : Rajya Sabha, Insolvency and Bankruptcy Code (Amendment) Bill, 2019

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Reserve Bank Cuts Key Lending Rates by 0.35%(07.08.2019)

Reserve Bank of India's Monetary Policy Committee (MPC) has cut key interest rate for the fourth consecutive time by 35 basis points or 0.35 per cent .....

Tags : Reserve Bank, Lending Rates

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NCLT Directs Bandhan Bank to Seek Shareholders’ Nod(24.06.2019)

National Company Law Tribunal (NCLT) has directed Bandhan Bank to convene a meeting of its equity shareholders to approve the proposed merger with Gr.....

Tags : NCLT, Bandhan Bank

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Reserve Bank of India Revises Stressed Asset Norms(10.06.2019)

Reserve Bank of India (RBI) has issued a new prudential framework for resolution of stressed assets, effectively replacing its 12 February 2018 circul.....

Tags : Reserve Bank of India, Stressed Asset

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Reserve Bank of India Eases Norms for No-Frills Accounts(11.06.2019)

Reserve Bank of India has eased the norms for the Basic Savings Bank Deposit (BSBD) accounts popularly known as no-frills accounts by allowing banks t.....

Tags : Reserve Bank of India, No-Frills Accounts

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Reserve Bank of India to Lift All Charges on Fund Transfers via RTGS and NEFT from July 1(12.06.2019)

Reserve Bank of India has said that it will lift all charges on fund transfer through popular RTGS and NEFT systems from July 1, 2019 and asked banks .....

Tags : Reserve Bank of India, NEFT, RTGS

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Meghalaya High Court: Indiscipline by Bankers Cannot be Overlooked(13.06.2019)

Meghalaya High Court has observed that indiscipline by bankers cannot be overlooked as they deal with public money. The Court held that "No organisati.....

Tags : Meghalaya High Court, Bankers

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Reserve Bank of India Removes Charges on NEFT, RTGS Transfers(07.06.2019)

Reserve Bank of India (RBI) has announced that it is waiving off charges that are applied on bank transfers carried out either by National Electronic .....

Tags : Reserve Bank of India, NEFT, RTGS

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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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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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Delhi High Court Stays Lower Court Proceedings Against Bank Executives(27.05.2019)

Delhi High Court has stayed the lower court proceedings against Punjab National Bank its former Managing Director & CEO Usha Ananthasubramanian and 11.....

Tags : Delhi High Court, Bank

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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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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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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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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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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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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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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 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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RBI Amends Norms on Bank Frauds(19.04.2016)

Reserve Bank of India (RBI), while amending disclosure norms, has asked banks to disclose fraud cases and make provisions for them not exceeding four .....

Tags : Reserve Bank of India, Bank Frauds

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Delhi HC Seeks Centre's Response over RBI's Circular on E-Retail(22.04.2016)

Dellhi HC has sought Centre's response on petition challenging a circular by Reserve Bank of India (RBI), as per which retail trading in any form thro.....

Tags : Dellhi HC , Reserve Bank of India

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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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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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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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SC Asks SIT to Look into BoB Scam(27.04.2016)

Supreme Court has directed Special Investigation Team (SIT) on black money to look into a fresh plea seeking a probe into the recent Bank of Baroda (B.....

Tags : Supreme Court , Bank of Baroda

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RBI Relaxes Deposit Norms for Foreign Missions, Diplomats(06.05.2016)

Reserve Bank of India (RBI) has repealed and superseded regulations under the Foreign Exchange Management (Deposit) Regulations, 2000, in consultation.....

Tags : Reserve Bank of India , Foreign Exchange Management (Deposit) Regulations, 2000,

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Lok Sabha Passes Bankruptcy Bill(06.05.2016)

Lok Sabha has passed the Insolvency and Bankruptcy code 2016 with all the amendments proposed by the joint committee of Parliament being accepted by t.....

Tags : Lok Sabha , Bankruptcy Bill

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RBI Eases LCR Norm(25.03.2016)

Reserve Bank of India (RBI) has given bankers more flexibility in maintenance of Liquidity Coverage Ratio (LCR) under Basel III by tweaking certain no.....

Tags : Reserve Bank of India, Liquidity Coverage Ratio

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Karnataka High Court Restrains IDBI Bank Employees from Carrying Out Strike(28.03.2016)

Karnataka HC while passing order on the petition filed by the IDBI Bank’s management challenging the notices issued by United Platform of Bank Unions .....

Tags : Karnataka High Court, IDBI Bank

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Delhi High Court: Bank Guarantee Can Be Stopped Only on Fraud(16.11.2015)

Delhi High Court has held that invocation of a bank guarantee can be stopped only if it is proved that there was fraud or irretrievable injury or inju.....

Tags : Delhi High Court , Bank Guarantee

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RBI: Fixed Rate Loans up to 3 Years to be Based on Marginal Cost(30.03.2016)

Reserve Bank of India (RBI) has asked banks to price fixed rate loans of up to three years based on their marginal cost of fund from April 1.

Tags : Reserve Bank of India, Fixed Rate Loans

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RBI Increases Investment Limit of FPIs(30.03.2016)

Reserve Bank of India (RBI) has increased investment limit of Foreign Portfolio Investors (FPIs) in central government bonds to Rs 2 lakh crore, from .....

Tags : Reserve Bank of India, Foreign Portfolio Investors

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RBI Extends E-Payment Deadline and Banking Hours(30.03.2016)

Reserve Bank of India (RBI) has issued instructions wherein it has been decided that all agency banks shall keep counters of their designated branches.....

Tags : Reserve Bank of India, E-Payment

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RBI Relaxes ECB Norms for Infrastructure Sector(31.03.2016)

Reserve Bank of India (RBI) has allowed all companies engaged in infrastructure sector to raise external commercial borrowings with a minimum maturity.....

Tags : Reserve Bank of India, ECB Norms

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RBI Releases First Bi-monthly Monetary Policy Statement, 2016-17(05.04.2016)

Reserve Bank of India (RBI) has released First Bi-monthly Monetary Policy Statement, 2016-17, lowered key interest rates by 25 basis points to 6.5 per.....

Tags : Reserve Bank of India , First Bi-monthly Monetary Policy Statement, 2016-17

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RBI Issues Guidelines on PSLCs(08.04.2016)

Reserve Bank of India (RBI), has released guidelines for Priority Sector Lending Certificates (PSLCs), where banks can buy and sell instruments to man.....

Tags : Reserve Bank of India, Priority Sector Lending Certificates

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SC: Anti-Graft Act Covers All Pvt. Bank Staff Too(24.02.2016)

SC, in a move to expand scope of the Prevention of Corruption Act, has brought all private bank employees within the ambit of the anti-graft law, whic.....

Tags : SC, anti-graft law, Pvt. Bank

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RBI Revises SDR Norms(26.02.2016)

Reserve Bank of India (RBI) has asked banks going in for Strategic Debt Restructuring (SDR) scheme to make sufficient provisions to the tune of 15 per.....

Tags : Reserve Bank of India , Strategic Debt Restructuring

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RBI Issues Draft Norms for Account Aggregators(04.03.2016)

Reserve Bank of India (RBI) has issued draft guidelines for setting up of Non-Banking Finance Companies (NBFC) that would act as account aggregators a.....

Tags : Reserve Bank of India , Non-Banking Finance Companies

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RBI to Banks: Pay Interest on Savings Account Every Quarter(16.03.2016)

Reserve Bank of India (RBI) has asked banks to pay interest on their customers’ savings accounts on a quarterly basis or shorter duration.

Tags : Reserve Bank of India, savings accounts

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RBI Issues Norms for PDs in Exchange-Traded Currency Futures(18.03.2016)

Reserve Bank of India (RBI) has issued guidelines permitting standalone Primary Dealers (PDs) to participate in exchange-traded currency futures on ap.....

Tags : Reserve Bank of India , Primary Dealers, Currency Futures

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RBI Revises Rules for Resolution of Stressed MSME Loans(18.03.2016)

Reserve Bank of India (RBI) has revised rules pertaining to revival of advances to small businesses and asked lenders to form district-level committee.....

Tags : Reserve Bank of India , MSME

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RBI Permits Banks to Adjust Excess Pension(18.03.2016)

Reserve Bank of India (RBI) has allowed banks to adjust excess or wrongful payments to pensioners with their accounts. In case the entire amount could.....

Tags : Reserve Bank of India , Pension

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RBI Relaxes Reporting Requirement of NEFT Transactions(18.03.2016)

Reserve Bank of India (RBI) has said it is discontinuing provision where banks had to submit data pertaining to NEFT (National Electronic Fund Transfe.....

Tags : Reserve Bank of India, NEFT Transactions

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SC to RBI: Disclose Names of India's Biggest Loan Defaulters(17.02.2016)

SC has sought list of companies from Reserve Bank of India (RBI) who have defaulted in paying back loan to PSU banks and have contributed to massive l.....

Tags : SC, Reserve Bank of India

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RBI Revises Norms for NBFC Factor Firms(19.02.2016)

Reserve Bank of India (RBI) has came out with clarifications for NBFC factor companies to remove any possible regulatory arbitrage with banks that pro.....

Tags : Reserve Bank of India , NBFC factor companies

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Delhi HC Asks RBI to Submit its Latest Circular on FDI Policy(27.01.2016)

While hearing a public interest litigation seeking a thorough investigation against all firms that have received FDI, Delhi High Court has sought a re.....

Tags : Delhi High Court, Reserve Bank of India, FDI policy

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RBI Cancels Rs 9k crore T-bill Auction(28.01.2016)

Reserve Bank of India (RBI) has cancelled a Rs 9,000-crore auction of Government's 91-day Treasury Bills (T-bills) as it was not willing to accede to .....

Tags : Reserve Bank of India, T-bills

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RBI Mandates Online Filing of FDI Forms from February 8(02.02.2016)

Reserve Bank of India (RBI) has asked banks to file forms related to Foreign Direct Investment (FDI) only online on the e-Biz portal from February 8.

Tags : Reserve Bank of India , Foreign Direct Investment

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RBI Eases FDI Norms to Boost Start-Ups(03.02.2016)

Reserve Bank of India (RBI) has relaxed several rules including Foreign Direct Investment (FDI) norms to boost start-up activity in the country.

Tags : Reserve Bank of India, Foreign Direct Investment , Start-Ups

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RBI Updates Norms of Fema(05.02.2016)

Reserve Bank of India (RBI), with an aim to promote ease of doing business, has come out with nine updated rules under the Foreign Exchange Management.....

Tags : Reserve Bank of India , oreign Exchange Management Act (Fema), 1999

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RBI Announces Rs 10,000 Crore OMO Purchases(05.02.2016)

Reserve Bank of India (RBI) has announced an Open Market Operation (OMO) purchase of government securities worth Rs 10,000 crore on February 8.

Tags : Reserve Bank of India , Open Market Operation

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RBI Says No Fresh Permission to Foreign Law Firms for Liaison Office(30.10.2015)

Reserve Bank of India (RBI) has said it would not grant fresh or renewed permission to any foreign law firm to open a liaison office in the country.

Tags : Reserve Bank of India, Foreign Law Firms

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RBI Permits Custodians or Banks to Short-Sell in Govt. Bond Market(30.10.2015)

Reserve Bank of India (RBI) has permitted custodians or banks to short-sell in Government Bond Market with primary members or individual bank customer.....

Tags : Reserve Bank of India, Government Bond Market, Custodians , Banks

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RBI Allows NRIs to Investment in National Pension Schemes(30.10.2015)

Reserve Bank of India (RBI) has allowed Non-Resident Indians (NRIs) to subscribe to pension scheme, which is governed, administered by Pension Fund Re.....

Tags : Reserve Bank of India, Non-Resident Indians, National Pension Schemes

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RBI Grants NBFCs More Power to Change Ownership in Stressed Firms(30.10.2015)

Reserve Bank of India (RBI) has allowed Non-Banking Finance Companies (NBFCs) to upgrade credit facilities extended to borrowing entities whose owners.....

Tags : Reserve Bank of India, Non-Banking Finance Companies

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Hyderabad High Court Serves Notice to Union Minister YS Chowdary(03.11.2015)

Hyderabad High Court has issued notice to Union Minister YS Chowdary and others in a contempt petition filed by the Mauritius Commercial Bank.

Tags : Hyderabad High Court, Union Minister YS Chowdary , Mauritius Commercial Bank

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Deepak Singhal Takes Over as RBI Executive Director(04.11.2015)

Deepak Singhal has taken over as new Executive Director at the Reserve Bank of India (RBI).

Tags : Reserve Bank of India

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RBI Issues Gold Bonds Operational Guidelines(05.11.2015)

Reserve Bank has issued operational guidelines for Sovereign Gold Bonds, 2015-16 and mandated some operational procedures for Commercial banks and pos.....

Tags : Reserve Bank of India, Commercial banks , post offices, Gold Bonds Operational Guidelines

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RBI Permits Cooperative Banks to Offer Internet Banking Services(06.11.2015)

RBI has allowed all cooperative banks to offer Internet banking services to their customers and said that any Urban Cooperative Bank, State Cooperativ.....

Tags : RBI , Cooperative Banks , Internet Banking Services

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RBI Includes Bandhan Bank in Second Schedule List(06.11.2015)

Reserve Bank of India (RBI) has said that Bandhan Bank is now included in the second schedule list, making it eligible for loans from the central bank.....

Tags : Reserve Bank of India , Bandhan Bank

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RBI Stop to Barter Trade on Indo-Myanmar Border(06.11.2015)

Reserve Bank of India (RBI) has decided to officially stop barter system, which is trading of goods without exchange of money, at Indo-Myanmar border......

Tags : Reserve Bank of India , Barter Trade , Indo-Myanmar Border

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RBI Cut Repo Rate by 50 bps(29.09.2015)

Reserve Bank of India (RBI) has cut its repo rate by 50 basis points to 6.75%, while keeping the Cash Reserve Ratio (CRR) unchanged at 4%. This was fo.....

Tags : Reserve Bank of India, Repo Rate

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RBI Permits Companies to Raise $750 mn through Rupee Bonds(30.09.2015)

Reserve Bank of India (RBI) has permitted companies to raise up to $750 million from overseas markets under automatic route, through rupee-denominated.....

Tags : Reserve Bank of India ,companies

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Sebi Exempts 3 PSBs From Takeover Code Obligations(30.09.2015)

Securities and Exchange Board of India (Sebi) has exempted Centre from discloser of takeover code obligations for its investment in Dena Bank, Bank of.....

Tags : Securities and Exchange Board of India,Dena Bank, Bank of India, Corporation Bank.

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RBI: No Foreign Exchange Act Action against Declarant for Disclosure Under Black Money Window(01.10.2015)

Reserve Bank of India (RBI) has said no action under FEMA will be taken against declarations under one-time black money compliance window. RBI has alr.....

Tags : Reserve Bank of India ,FEMA ,black money compliance window

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RBI Eases MFI Norms to Provide Cheaper Loans to SCs Below Double Poverty Line(05.10.2015)

Reserve Bank of India (RBI) has eased micro finance norm of maximum 4 % variance in interest rates for small loans offered to Scheduled Castes (SCs ).....

Tags : Reserve Bank of India , SC

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RBI Notifies Increase in FPI Holding Limits(07.10.2015)

Reserve Bank of India (RBI) has notified that Foreign Portfolio Investors (FPI) would be able to hold up to R1.66 lakh crore worth of government secur.....

Tags : Reserve Bank of India ,Foreign Portfolio Investors

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RBI Boosts Affordable Housing(09.10.2015)

Reserve Bank of India (RBI) has said that banks could provide home loans up to 90% for properties that cost up to Rs 30 lakh, giving a boost to low-co.....

Tags : Reserve Bank of India,banks

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RBI Turns Net Seller of Foreign Currency in August(13.10.2015)

Reserve Bank of India (RBI) for the first time in the past one year has turned net sellers of foreign currency in August to help arrest the slide in t.....

Tags : Reserve Bank of India (RBI),Foreign Currency

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Yes Bank Gets RBI Approval for MF and AMC(13.10.2015)

Yes Bank has received Reserve Bank of India (RBI) approval to set up a mutual fund asset management company and trustee company as wholly owned subsid.....

Tags : Yes Bank, Reserve Bank of India

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RBI Issues Revised Guidelines for FIF(16.10.2015)

Reserve Bank of India (RBI) has issued revised guidelines for scope of activities and objectives of its Financial Inclusion Fund (FIF). The corpus of .....

Tags : Reserve Bank of India, FIF

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RBI: No Relaxation in CRR, SLR Norms(19.10.2015)

Reserve Bank of India (RBI) has junked the plea of entities that have secured licences to set up small finance banks that they be given some leeway in.....

Tags : Reserve Bank of India, small finance banks

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RBI Cancels Sahara's NBFC Licence for Flouting Know-Your-Customer Norms(15.09.2015)

Reserve Bank of India (RBI) has cancelled licence of Sahara India Financial Corporation Ltd (SIFCL), Sahara group’s Non-Banking Financial Co.(NBFC), e.....

Tags : Reserve Bank of India , Sahara

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RBI Shortlists 10 Micro Lenders to Set Up Small Banks(17.09.2015)

RBI has shortlisted 10 micro lenders to set up small banks to advance loans primarily to unbanked, small businesses , farmers, micro industries, small.....

Tags : RBI ,small banks

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RBI Relaxes Norms on Loans to CEOs, Directors of Banks(17.09.2015)

RBI has said that loans granted to CEO and Whole Time Director of banks for purchasing car, personal computer, furniture, constructing/acquiring house.....

Tags : RBI, Loans to CEOs, Directors of Banks

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RBI Permits Banks to Convert Stressed Loans into Standard, Conditions Apply(25.09.2015)

RBI has said that it would permit banks to convert status of their "stressed" loans to a company into "standard" ones if entity is sold to a new major.....

Tags : RBI,Banks

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RBI Orders Concurrent Auditors to Submit Reports on Non-Performing Loans Directly to Banks(25.09.2015)

Reserve Bank of India (RBI) has directed concurrent auditors of commercial banks to submit their review of non-performing loans directly to the banks .....

Tags : Reserve Bank of India,concurrent auditors of commercial banks

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RBI Strikes Down Registration Certificate of Seven NBFCs(18.08.2015)

Reserve Bank of India (RBI) has cancelled certificate of registration of seven Non-Banking Financial Companies (NBFCs) including that of Religare Fina.....

Tags : Reserve Bank of India,NBFCs

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RBI Clears 11 Payments Banks(20.08.2015)

Reserve Bank of India (RBI) has given 'in principle' clearance to 11 entities to set up 'payments banks'. These entities include department of posts, .....

Tags : Reserve Bank of India, Payments Banks

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RBI Eases NBFC Loan Restructuring Norms(31.07.2015)

Reserve Bank of India (RBI) has permitted non-bank lenders to retain the 'standard asset' tag on a restructured loan for an extended period if an infr.....

Tags : Reserve Bank of India

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RBI Simplifies Gold Monetisation Scheme(22.01.2016)

Reserve Bank of India (RBI) has simplified Gold Monetisation Scheme (GMS) for bulk depositors, in order to help temple boards to do so and also allowe.....

Tags : Reserve Bank of India , Gold Monetisation Scheme

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RBI Nods to Hike Service Charge on Deposits by Non-Chest Branches(22.01.2016)

Reserve Bank of India (RBI) has said currency chest holding branches can raise service charges to be levied on cash deposited by non-chest bank branch.....

Tags : Reserve Bank of India, Non-Chest Branches

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RBI Asks Banks to Extend loans to Women SHGs at 7 % Rate(22.01.2016)

Reserve Bank of India (RBI) has asked banks to provide loans up to Rs 3 lakh at 7 per cent interest rate to Women Self-Help Group (SHG) under the Nati.....

Tags : Reserve Bank of India, Women Self-Help Group

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RBI Operationalise CFR(22.01.2016)

Reserve Bank of India (RBI), in order to minimize frauds, has operationalised a Central Fraud Registry (CFR) with effect from January 20.

Tags : Reserve Bank of India, Central Fraud Registry

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RBI Issues New Guidelines for Banks to Fix Lending Rate(18.12.2015)

Reserve Bank of India (RBI) has issued new guidelines on how banks can calculate their lending rates in a bid to make them more closely based on marke.....

Tags : Reserve Bank of India , lending rates

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RBI to Banks: Allow Mobile Banking Registration at ATMs(18.12.2015)

Reserve Bank of India (RBI) has asked all National Financial Switch (NFS) member banks to make changes in ATM switches by March 2016 to help customers.....

Tags : Reserve Bank of India, National Financial Switch

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RBI: Small Finance Banks Can Join Payment System(23.12.2015)

Reserve Bank of India (RBI) has said that entities who received in-principle approval for setting up payments banks and small finance banks can join a.....

Tags : Reserve Bank of India, payment system

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RBI Says No Deadline for Resolving Complaints under Banking Ombudsman Scheme(23.12.2015)

Reserve Bank of India (RBI) has said that there is no time limit for resolution of complaints under Banking Ombudsman scheme, aimed at seeking redress.....

Tags : Reserve Bank of India, Ombudsman scheme

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CCI Approves RBS India-Sanctum Wealth Acquisition Deal(30.12.2015)

Competition Commission of India (CCI) has approved acquisition of Royal Bank of Scotland (RBS) Group's India wealth management business by Sanctum Wea.....

Tags : Competition Commission of India , Royal Bank of Scotland , Sanctum Wealth

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RBI Tightens Norms for Banks Lending to Overseas Subsidiary of Indian Companies(04.01.2016)

Reserve Bank of India (RBI) has tightened norms for banks lending to overseas subsidiary of Indian companies by raising the provisions substantially a.....

Tags : Reserve Bank of India , subsidiary of Indian companies

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RBI Issues 17 Master Directions Related to FEMA(05.01.2016)

Reserve Bank of India (RBI) has issued 17 Master Directions covering foreign exchange transactions on various regulatory issues in order to simplify .....

Tags : Reserve Bank of India, Master Directions

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Bankruptcy, Insolvency Related Work To be Done By Department of Economic Affairs(07.01.2016)

The work relating to bankruptcy and insolvency has been taken out from the domain of Law Ministry and put under Department of Economic Affairs, a step.....

Tags : bankruptcy and insolvency , Department of Economic Affairs, Law Ministry

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RBI Allows IFSCs Bank Branches to Open Foreign Currency Current Accounts(08.01.2016)

Reserve Bank of India (RBI) has permitted bank branches at International Financial Services Centres (IFSCs) to open foreign currency current accounts .....

Tags : Reserve Bank of India , International Financial Services Centres

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RBI Allows Banks to Extend Non-Fund Based Credit(08.01.2016)

Reserve Bank of India (RBI) has allowed banks to extend non-fund based credit, not the usual form of normal loans and thereby lifted the old age ban.

Tags : Reserve Bank of India, non-fund based credit

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SC Recalls Order for Promotion Quota in Banks(11.01.2016)

Supreme Court has recalled its direction to grant quota in promotions to SC/ST employees in higher grade posts in public sector banks, and left it to .....

Tags : Supreme Court, quota in promotions to SC/ST employees , public sector banks

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RBI Tightens Provisions for Yet to Fail CDR Accounts(12.01.2016)

Reserve Bank of India (RBI) has asked lenders to increase provisioning for accounts that may not have yet failed Corporate Debt Restructuring (CDR) bu.....

Tags : Reserve Bank of India, Corporate Debt Restructuring

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RBI Permits Banks to Offer More Services Via Offsite ATMs(15.01.2016)

Reserve Bank of India (RBI) has said that banks are now free to offer all their products and services through the ATM channels provided technology per.....

Tags : Reserve Bank of India, ATM

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RBI: Aadhaar is Not Mandatory for DBT Scheme(15.01.2016)

Reserve Bank of India (RBI) has said in a clarification on Direct Benefit Transfer (DBT) Scheme that use of Aadhaar cards and seeding of bank accounts.....

Tags : Reserve Bank of India, Direct Benefit Transfer, Aadhaar

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Govt.: MUDRA Not to Regulate Micro Finance Institutions (MFIs)(18.01.2016)

Government has said that Reserve Bank of India would continue to regulate MFIs registered as Non-Banking Finance Companies (NBFCs) with central bank. .....

Tags : Government ,R eserve Bank of India , MFIs, MUDRA

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RBI Postpones Issue Date of Sovereign Gold Bonds(25.11.2015)

Reserve Bank of India (RBI) has postponed issue date of sovereign gold bond by four days to November 30 to enable their smooth uploading into the cent.....

Tags : Reserve Bank of India , Sovereign Gold Bonds

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RBI Relaxes ECB Norms for Accessing Foreign Loans(01.12.2015)

Reserve Bank of India (RBI) has unveiled a revised External Commercial Borrowing (ECB) policy, entailing, among other things, a more liberal approach.....

Tags : Reserve Bank of India, External Commercial Borrowing

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Madras HC: Banks Cannot Attach Savings Account Opened for Depositing Pension to Recover Loan(03.12.2015)

Madras High Court has held that Savings Bank Account maintained primarily for purpose of depositing monthly pension amount could not be attached by a .....

Tags : Madras High Court , Savings Bank Account

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RBI Revises Priority Sector Lending Norms for RRBs(04.12.2015)

Reserve Bank of India (RBI) has revised the priority sector lending target for Regional Rural Banks (RRBs) to 75% of total outstanding loans from 60% .....

Tags : Reserve Bank of India, Regional Rural Banks

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RBI Cancels License of 56 NBFCs(07.12.2015)

Reserve Bank of India (RBI) has cancelled a bulk of Non-Banking Financial Companies (NBFCs) Licence, for either violating regulatory norms or surrende.....

Tags : Reserve Bank of India , Non-Banking Financial Companies

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RBI Announces Timetable Reduction in SLR(11.12.2015)

Reserve Bank of India (RBI) has announced a reduction in share of government securities known as Statutory Liquidity Ratio (SLR) that banks have to ma.....

Tags : Reserve Bank of India, Statutory Liquidity Ratio

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RBI Revises Norms for 'When issued' Security(11.12.2015)

Reserve Bank of India (RBI) in order to encourage trading in ‘When Issued’ transactions in government securities, has allowed banks to take short posi.....

Tags : Reserve Bank of India , ‘When Issued’ transactions

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SC: RBI Must Disclose All Info About Banks Under RTI(17.12.2015)

Supreme Court has ruled that Reserve Bank of India (RBI) is bound in law to give information regarding private and public banks under the Right To Inf.....

Tags : Supreme Court, Right To Information , Reserve Bank of India

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RBI Issues Guidelines for the Gold Monetisation Scheme(23.10.2015)

Reserve Bank of India (RBI) has issued guidelines for the Gold Monetisation Scheme. RBI has issued directions for banks on implementation of the gold .....

Tags : Reserve Bank of India , Gold Monetisation Scheme

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RBI Junks Govt.’s Proposal for 100% FDI in Banks(26.10.2015)

Reserve Bank of India (RBI) has junked proposal from Government to allow up to 100% Foreign Direct Investment (FDI) in banks, which may come as a damp.....

Tags : RBI , 100% FDI in Banks

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RBI Clears Way for Mergers and Acquisitions in Banking Industry(20.11.2015)

Reserve Bank of India (RBI) has said that it permit promoters/investors to own more than 10% if applicant meets certain conditions including if `it is.....

Tags : Reserve Bank of India, Mergers and Acquisitions in Banking Industry

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RBI Permits Regional Rural Banks (RRB) to Launch Internet Banking(20.11.2015)

Reserve Bank of India (RBI) has allowed strong regional rural banks to launch online transaction through internet banking. Profitable RRBs with minimu.....

Tags : Reserve Bank of India , RRB

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RBI’s Nod Mandatory to Buy 5% or More in Banks(20.11.2015)

Reserve Bank of India (RBI) has said that its prior approval will be required for acquisition of shares or voting rights in a private bank for increas.....

Tags : Reserve Bank of India , private bank

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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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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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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

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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

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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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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

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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

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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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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

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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

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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

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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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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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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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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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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

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RBI Withdraws Banks' 25% Compensation(28.08.2015)

Reserve Bank of India (RBI) has withdrawn 25 per cent compensation to banks for detecting fake notes.

Tags : Reserve Bank of India,25 per cent compensation

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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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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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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

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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

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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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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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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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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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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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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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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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#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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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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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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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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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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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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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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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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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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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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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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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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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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International Cases

HMRC gets payday on bankers’ bonuses(09.03.2016)

Hearing a case that ties together the two bugbears of today’s commercial world - executives’ bonuses and offshore companies - the British Supreme Cour.....

Tags : bankers, bonus, purposive approach

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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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Top Story

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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Officers of private bank punishable under POCA(23.02.2016)

Officers of a private bank, specifically its Chairman, Directors and other Officers are ‘public servants’ who can be prosecuted under the Prevention o.....

Tags : Prevention of corruption, bankers, public duty

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Insolvency and Bankruptcy Bill, 2015(09.11.2015)

The Ministry of Finance has placed the draft Insolvency and Bankruptcy Bill, 2015 on its website and is receiving comments on it till 19 November 2015.....

Tags : Bankruptcy, insolvency, draft, bill, 2015, report

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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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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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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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Others

Guidelines for selection of MD and CEO in public sector banks approved(20.08.2015)

The guidelines on selection of Managing Directors and Chief Executive Officers in public sector banks, other than the five large public sector banks, .....

Tags : Bank, management, selection, board

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Blast from the Past

Banks’ implied duty of secrecy to its customers(25.01.2016)

The United Kingdom Court of Appeal in 1923 determined that the duty of confidentiality owed by a bank to its clients was not absolute. Rather, it was .....

Tags : Banker, duty to confidentiality, qualifications

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