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Posted Date : 24-Jul-2023 , 07:24:07 am | Posted By CASANSAAR
Banks wrote off bad loans worth over Rs 2.09 lakh crore (around US $ 25.50 billion) during the year ended March 2023, taking the total loan write-off by the banking sector to Rs 10.57 lakh crore (around $ 129 billion) in the last five years, the Reserve Bank of India (RBI) said in a Right to Informa...
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Posted Date : 20-Jun-2023 , 09:08:50 am | Posted By CASANSAAR
The division bench of justice Gautam Patel and justice Neela Gokhale was hearing a clutch of petitions, including those filed by Naresh Goyal, the promoter of now defunct Jet Airways, and his wife Anita Goyal among others, contending that the master circular authorised banks to arbitrarily classify ...
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Posted Date : 14-Jun-2023 , 08:37:40 am | Posted By CASANSAAR
RBI has issued a new guideline for those who have lockers in government banks of the country. In such a situation, now the agreement of the bank locker is being changed. SBI has asked customers to contact their branch soon. SBI New Bank Locker Agreement: There is great news for SBI customers. Giv...
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Posted Date : 13-Jun-2023 , 08:18:14 am | Posted By CASANSAAR
Wilful defaulters and companies involved in fraud can go for a compromise settlement or technical write-offs by banks and finance companies, as per a circular by Reserve Bank of India (RBI). Banks can undertake compromise settlements or technical write-offs regarding accounts categorised as wilfu...
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Posted Date : 08-Jun-2023 , 09:20:22 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today issued an updated alert list of entities that are not authorized to deal in foreign exchange (forex) transactions or operate electronic trading platforms (ETPs) for forex. The Apex Bank in its press release issued today added eight names of platforms/we...
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Posted Date : 07-Jun-2023 , 07:02:58 am | Posted By CASANSAAR
The Reserve Bank of India said it has permitted banks operating International Financial Services Centre (IFSC) to offer non-deliverable derivatives contracts utilising rupees to resident non-retail users for hedging. The step has been taken in order to develop the onshore rupee non-deliverable de...
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Posted Date : 02-Jun-2023 , 10:17:05 pm | Posted By CASANSAAR
Reserve Bank on Friday imposed a penalty of Rs 2.20 crore on state-owned Indian Overseas Bank (IOB) for non-compliance of income recognition and other deficiencies in regulatory compliance. The fine is imposed for contravention of the provisions of certain directions issued by RBI on &lsquo...
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Posted Date : 29-May-2023 , 10:43:37 pm | Posted By CASANSAAR
Reserve Bank of India’s Governor Shaktikanta Das advised Bank Boards to adopt fair practices and customer protection including digital lending. Quick and effective redress of customers' grievances reflect the efficacy of a bank’s overall functioning, he added. Mr. Das was ad...
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Posted Date : 27-May-2023 , 08:58:13 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has taken action against Central Bank of India by imposing a monetary penalty of ?84.50 lakh (Rupees Eighty four lakh fifty thousand only). The penalty has been imposed due to the bank’s failure to comply with specific provisions outlined in the ‘Reserve B...
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Posted Date : 23-May-2023 , 08:24:10 am | Posted By CASANSAAR
Reserve Bank of India Governor Shaktikanta Das on Monday asked public sector banks to further strengthen their governance and risk management with a view to identify and mitigate risks at an early stage. The governor was addressing a Conference for the Directors on the Boards of Public ...
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Posted Date : 18-May-2023 , 09:38:55 pm | Posted By CASANSAAR
The finance ministry on Thursday said expenses incurred by an employee on a business visit, when such expenses are borne by the employer, will not be covered under RBI's liberalised remittance scheme. A clarification to this effect was provided in a set of FAQs issued by the finance ministr...
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Posted Date : 29-Apr-2023 , 07:41:52 am | Posted By CASANSAAR
The RBI has amended rules governing know-your-customer checks undertaken by lenders, according to a statement by the regulator on Friday. The changes have been made to align with the recent amendments carried out in the Prevention of Money Laundering (Maintenance of Records) Rules, update t...
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Posted Date : 12-Apr-2023 , 06:23:40 am | Posted By CASANSAAR
With a view to foster and develop a green finance eco-system in India, the Reserve Bank has put in place a framework for acceptance of Green Deposits. In a statement, RBI has said that the financial sector can play a pivotal role in mobilizing and allocating resources for green activities/p...
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Posted Date : 10-Apr-2023 , 09:22:58 pm | Posted By CASANSAAR
Reserve Bank of India on Monday came out with detailed norms for outsourcing of IT services by banks, NBFCs and regulated financial sector entities to ensure that such arrangements do not undermine their responsibilities and obligations to customers. In its 'Master Direction on Outsourcing ...
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Posted Date : 07-Apr-2023 , 07:11:32 am | Posted By CASANSAAR
The Reserve Bank has imposed a penalty of Rs 6.77 crore on Mahindra & Mahindra Financial Services Ltd, Mumbai, for non-compliance with norms related to disclosure of interest rates to borrowers at the time of sanction of loans, a release said on Thursday. In another release, the RBI said a Rs...
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Posted Date : 07-Apr-2023 , 06:43:05 am | Posted By CASANSAAR
Defying expert expectations, the six-member monetary policy committee headed by RBI Governor Shaktikanta Das today announced a status quo on policy rates. While announcing the first bi-monthly monetary policy statement for 2023-24, Mr. Das said the monetary policy committee has unanimously decided t...
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Posted Date : 22-Mar-2023 , 09:08:53 am | Posted By CASANSAAR
With the annual closing of accounts scheduled for March 31 as the financial year 2022-23 is ending, the Reserve Bank of India (RBI) has directed all banks to keep their branches open till working hours of the above-mentioned date. In a letter to all agency banks on Tuesday, the RBI said that all ...
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Posted Date : 11-Mar-2023 , 08:05:03 am | Posted By CASANSAAR
The Reserve Bank of India on Friday cancelled the Certificate of Registration (CoR) of 17 non-banking financial companies (NBFCs). The central bank noted that in the exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, it has therefore cancelled the NBFC...
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Posted Date : 03-Mar-2023 , 09:25:06 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has imposed monetary penalty of ?3,06,66,000/- (Rupees three crore six lakh sixty six thousand only) on Amazon Pay (India) Private Limited (the entity) for non-compliance with certain provisions of the Master Directions on Prepaid Payment Instruments (PPIs) dated...
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Posted Date : 13-Feb-2023 , 08:21:19 am | Posted By CASANSAAR
The Reserve Bank has directed financial institutions and National Payments Corporation of India, NPCI to allow access to Unified Payments Interface (UPI) to foreign nationals and NRIs visiting India. In a notification issued from Mumbai today, the facility should currently be extended only to tra...
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Posted Date : 10-Jul-2022 , 10:24:12 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday imposed various restrictions on on four cooperative banks. The restrictions have been imposed for six months and it includes cap on withdrawals for the depositors. The central ban k of India has imposed restriction keeping note o...
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Posted Date : 09-Jul-2022 , 08:18:31 am | Posted By CASANSAAR
The Reserve Bank of India (RBI), on Friday, imposed a monetary penalty of Rs 5.72 crore on Federal Bank Ltd., Rs 70 lakh on Bank of India and Rs 7.60 lakh on Dhani Loans and Services Ltd. for violating the provisions of its regulations. RBI imposed a monetary penalty on Federa...
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Posted Date : 25-Jun-2022 , 09:53:23 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday imposed a monetary penalty of ₹57.50 lakh on the government-owned Indian Overseas Bank for non-compliance with certain directions. The penalty was related to the directions issued by RBI on Frauds – Classification and Reporting by commercial bank...
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Posted Date : 24-Jun-2022 , 08:10:30 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has put forward a few norms on Thursday for the outsourcing of IT services to ring-fence banks and other regulated entities from financial, operational and reputational risks. The RBI has also invited comments from stakeholders by 22 July. In a ...
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Posted Date : 17-Jun-2022 , 08:53:52 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on June 16 lifted the restrictions imposed on Mastercard citing improvement compliance. "In view of the satisfactory compliance demonstrated by Mastercard Asia / Pacific Pte. Ltd. with the Reserve Bank of India (RBI) circular dated April 6,...
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Posted Date : 10-Jun-2022 , 10:40:04 am | Posted By CASANSAAR
The Reserve Bank on Wednesday allowed credit cards to be linked with the unified payments interface (UPI), which will enable more people to make payments using the popular platform. At present, UPI facilitates transactions by linking savings or current accounts through users&#...
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Posted Date : 08-Jun-2022 , 10:31:24 am | Posted By CASANSAAR
Reserve Bank of India (RBI) once again increased its key interest rate by 50 bps on June 8, 2022, in a bid to target rising inflation. The repo rate — the rate at which RBI lends to commercial banks — stands at 4.90%. Last month the central bank hiked the repo rate...
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Posted Date : 07-Jun-2022 , 08:50:37 am | Posted By CASANSAAR
Reserve Bank of India (RBI) on Monday came out with a set of norms for provisioning for standard assets by large Non-Banking Financial Companies (NBFCs) in view of the increasing role played by such entities in the financial system. In October last year, RBI had issued a frame...
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Posted Date : 07-Jun-2022 , 08:15:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on June 6 imposed a monetary penalty on Bassein Catholic Co-operative Bank and Jila Sahakari Kendriya Bank Maryadit for non-compliance with certain directives issued by it. The central bank imposed a monetary penalty of Rs 49 lakh on Bassein Cat...
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Posted Date : 04-Jun-2022 , 08:58:02 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday imposed a monetary penalty of ₹27.50 lakh on a public sector bank, Punjab & Sind Bank for non-compliance with certain directions of the central bank. The penalty was for non-compliance with RBI directions on ‘External B...
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- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
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- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
Top Most RBI News On Casansaar Includes Latest News Details On Fema Forms,Fema Declaration,Updates On Reserve Bank Of India,RBI Circulars,Sebi,CA Firm.
