18 June 2018

Search Results for Tag : Banks

Notifications & Circulars

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



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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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