News - (Get Professional Updates on Whatsapp, Msg on 8285393786)
  • RBI asks people to be cautious of Bitcoins
    Posted Date : 28-Dec-2013 , 08:02:18 pm | Posted By CASANSAAR

    RBI today cautioned people about Bitcoins, virtual currency which has risen sharply in value in the past few months, but said any regulation on it would come only after it understood the subject. There was no regulation on Bitcoin anywhere in the world and so people should be cautious, should under...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 256

  • Credit card dues for 90 days are NPAs: RBI
    Posted Date : 21-Dec-2013 , 08:51:16 am | Posted By CASANSAAR

    Tightening norms for credit card issuers, RBI today asked banks to treat outstandings as bad loans in case customers fail to pay the minimum due amount within a stipulated 90 period.   With a view to bringing consistency and inducing transparency, the RBI said, "it is advised that a credit ca...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 606

  • RBI surprises market, keeps interest rates unchanged
    Posted Date : 18-Dec-2013 , 11:40:42 am | Posted By CASANSAAR

    In a surprise move, the Reserve Bank on Wednesday kept the repo rate- the rate at which the central bank lends money to commercial banks- unchanged at 7.75 percent in its mid-quarter review of monetary policy.  Similarly the reverse repo rate too stays at 6.75 percent, the cash reserve ratio (...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 325

  • RBI outlines action plan to tackle NPAs
    Posted Date : 18-Dec-2013 , 08:20:21 am | Posted By CASANSAAR

    The Reserve Bank of India, on Tuesday, outlined a corrective action plan to minimise rising non-performing assets (NPAs). The plan would include incentivising early identification of problem cases, timely restructuring of accounts, which are considered to be viable, and taking prompt steps by banks ...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 360

  • Core investment cos can raise external comm loans for SPVs
    Posted Date : 04-Dec-2013 , 02:17:20 pm | Posted By CASANSAAR

    The RBI allowed core investment companies to raise external commercial borrowing (ECB) for projects floated as special purpose vehicle in order to strengthen the flow of resources into the infrastructure sector. They will be allowed to raise funds via ECBs with certain riders, the RBI said in a noti...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 180

  • RBI allows banks to pay interest more frequently
    Posted Date : 30-Nov-2013 , 09:16:45 am | Posted By CASANSAAR

    Triggering a potential deposit war among banks, the Reserve Bank of India on Friday gave commercial banks the option of paying interest on savings and term deposits at intervals less than three months. The RBI move, announced in a notification, is expected to make banks woo depositors more aggressiv...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 473

  • Tata Sons withdraws application for bank licence - RBI
    Posted Date : 27-Nov-2013 , 07:18:06 pm | Posted By CASANSAAR

    Tata Sons has withdrawn its application for setting up a bank, saying its current financial services model best supports the needs of the group's domestic and overseas businesses.   The withdrawal by Tata Sons leaves over two dozen applicants, including Anil Ambani Group and Aditya Birla Grou...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 464

  • WoS of foreign banks to be exempt from capital gains tax: RBI
    Posted Date : 26-Nov-2013 , 06:00:07 pm | Posted By CASANSAAR

    The Reserve Bank today said that conversion of existing foreign bank branches into wholly owned subsidiaries in India will neither attract any capital gains tax nor stamp duty.   "In this context...'Special Provisions relating to Conversion of Indian Branch of a Foreign Bank into a Subsidiary...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 349

  • RBI allows FIIs to invest upto $5 bn in credit enhanced bonds
    Posted Date : 12-Nov-2013 , 08:17:15 am | Posted By CASANSAAR

    In a bid to attract capital inflows, the RBI today allowed SEBI-registered foreign institutional investors (FIIs) and qualified foreign investors (QFIs) to invest in the credit enhanced bonds up to a limit of $ 5 billion. These investments would be within the overall limit o...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 235

  • RBI cautions public against fake e-mails promising gains
    Posted Date : 11-Nov-2013 , 09:26:59 am | Posted By CASANSAAR

    RBI has cautioned the public against fictitious e-mails sent in the names of the central bank and Governor Raghuram Rajan promising windfall gains, saying it does not send out such communications. The bank has run awareness campaigns about fake e-mails on a regular basis through its website and oth...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 315

  • RBI allows third-party payments for export, import transactions
    Posted Date : 09-Nov-2013 , 06:15:20 am | Posted By CASANSAAR

    Easing procedures, the Reserve Bank on Friday allowed third-party payment for export and import transactions. With a view to further liberalise the procedure relating to payments for exports/imports, banks are allowed payments for export of goods/software to be received from a third-party, the RBI ...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 323

  • RBI hikes Repo Rate by 0.25% to 7.75, CRR unchanged
    Posted Date : 29-Oct-2013 , 11:21:17 am | Posted By CASANSAAR

    The Reserve Bank on Tuesday hiked the repo rate by 0.25 percent to 7.75 percent in its second quarter monetary policy review in a bid to anchor inflationary expectations. The central bank, however, slashed the Marginal Standing Facility (MSF) rate by 0.25 to 8.75 percent. The RBI has left the ...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 371

  • New RTGS system to be operational from Oct 19: RBI
    Posted Date : 12-Oct-2013 , 08:17:49 am | Posted By CASANSAAR

    The Reserve Bank of India (RBI) today said the new RTGS system, a mechanism that transfers money from one bank to another in real time, will be operational from October 19. "The new RTGS system will be operationalised on October 19 and the RTGS System Regulations 2013 will come into e...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 441

  • RBI relaxes foreign borrowing norms for banks
    Posted Date : 11-Oct-2013 , 04:28:07 pm | Posted By CASANSAAR

    The Reserve Bank of India (RBI) has further relaxed foreign borrowing norms for banks under the recently opened swap window, allowing them to raise funds through their head offices and correspondents. Until now, the window was limited to the banks' overseas branches. "Authorised dealer category...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 224

  • 0% EMI Schemes: No issues if done transparently, says RBI
    Posted Date : 10-Oct-2013 , 08:36:52 am | Posted By CASANSAAR

    The Reserve Bank today said it did not have any problem with banks offering loans to credit cardholders while purchasing goods or services but there needs to be transparency with the process. "There is no ban on giving loans on credit cards. Don't charge 12 per cent actually and claim...

    Continue Reading... Category : RBI | Comments : 1 | Hits : 363

  • RBI cuts MSF by 50 basis points to 9% to fight liquidity crunch
    Posted Date : 07-Oct-2013 , 07:20:04 pm | Posted By CASANSAAR

     In a bid to improve liquidity in the banking system, Reserve Bank of India (RBI) on Monday cut the Marginal Standing Facility (MSF) rate by 50 basis points to 9%. Starting with the Mid-Quarter Review of September 2013, RBI began a calibrated withdrawal of exceptional measures un...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 309

  • RBI to speed up working of asset reconstruction companies to improve efficiency of debt recovery system
    Posted Date : 07-Oct-2013 , 08:35:17 am | Posted By CASANSAAR

    India's first asset reconstruction companies (ARCs) were set up a decade or so ago, but it's only now that they may actually get to play the role they were supposed to in the country's economic system.Reserve Bank of India governor Raghuram Rajan is seemingly determined to push b...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 177

  • RBI nominates three members to bank licence panel
    Posted Date : 05-Oct-2013 , 08:52:56 am | Posted By CASANSAAR

    The Reserve Bank of India (RBI) nominated three members to the high level advisory committee formed to recommend granting new licenses to the private banks.   The committee is headed by the former RBI Governor Bimal Jalan. The RBI today finalised the names of the other members in the extern...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 507

  • RBI tightens criteria for co-operative bank expansion
    Posted Date : 04-Oct-2013 , 08:42:15 am | Posted By CASANSAAR

    Reserve Bank of India (RBI) has tightened the criteria under which it processes applications from urban co-operative banks for branch authorizations and opening of automated teller machines.   Co-operative banks will need to have net non-performing assets (NPAs) of not more than 3%, which is ...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 332

  • UCBs asked to provide audit certificates of farm debt waiver
    Posted Date : 01-Oct-2013 , 08:32:44 am | Posted By CASANSAAR

    The Reserve Bank today asked urban co-operative banks to submit their auditors' certificates related to 2008 farm loan debt waiver scheme by October 15. "Considering that there is a wide divergence between the percentage of errors found in the sample audit carried out by CAG and the p...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 276

  • Banks to bear credit card fraud cost, to compensate card holders: RBI
    Posted Date : 28-Sep-2013 , 08:09:21 am | Posted By CASANSAAR

    Refusing to give further extension to banks for complying with security norms, the Reserve Bank of India (RBI) today said that banks will have to bear the cost of fraudulent credit card transaction through point of sales that do not have prescribed security features.   "It has been decided no...

    Continue Reading... Category : RBI | Comments : 1 | Hits : 378

  • New bank licences: RBI could ease initial equity capital requirement of Rs 500 crore
    Posted Date : 27-Sep-2013 , 08:01:28 am | Posted By CASANSAAR

    The Reserve Bank of India may be open to relaxing the initial equity capital requirement of Rs 500 crore for setting up a bank if it fails to find enough "fit and proper" candidates during the screening process.   The intention is to allow a greater number of players qualify, a senior officia...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 308

  • RBI Issues Clarifications Regarding Applicability of Revised Guidelines in Respect of Overseas Direct Investment (ODI) to Facilitate Outward Investment Requirements of the Indian Companies
    Posted Date : 25-Sep-2013 , 07:51:19 am | Posted By CASANSAAR

    Reserve Bank of India (RBI) has issued certain clarifications vide AP (DIR Series) Circular No. 30 dated September 04, 2013 with respect to the applicability of the revised guidelines in respect of Overseas Direct Investment (ODI) notified vide A.P. (DIR Series) Circular No.23 dated August 14, 2013 ...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 232

  • No 0% interest EMI scheme: RBI
    Posted Date : 24-Sep-2013 , 04:10:30 pm | Posted By CASANSAAR

    The Reserve Bank of India has come down heavily on zero per cent or discounted interest rate schemes, and wants them stopped as it feels that consumers have been fooled by such schemes into believing that bank funding comes for free. "Such schemes only serve the purpose of (luring) and exploiting vu...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 446

  • RBI hikes repo rate to 7.5%, reduces MSF rate to 9.5%
    Posted Date : 20-Sep-2013 , 11:18:40 am | Posted By CASANSAAR

    In his first monetary policy review after taking over as the Reserve Bank of India (RBI) governor, Raghuram Rajan on Friday reduced the MSF rate by 75 basis points to 9.5%. While reducing MSF, Rajan hiked repo rate to 7.5%. The central bank kept the Cash Reserve Ra...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 302

  • RBI to issue unique identification codes for financial market participants
    Posted Date : 14-Sep-2013 , 09:32:51 am | Posted By CASANSAAR

    In a bid to get a better handle on financial transactions, such as equity and currency derivatives, the Reserve Bank of India has invited limited bids from about six entities, including depositories, depository participants and custodians, to issue unique identification codes to market participants....

    Continue Reading... Category : RBI | Comments : 0 | Hits : 254

  • RBI to crack down on unauthorised NBFCs
    Posted Date : 12-Sep-2013 , 08:32:43 am | Posted By CASANSAAR

    The Reserve Bank of India will get tough with companies which are accepting deposits from the public though they do not have the mandate to do so, a senior central bank official said.   A RBI survey has found that there are 96 companies that are accepting deposits without registering with the...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 330

  • Don't use currency notes for making garlands: RBI
    Posted Date : 11-Sep-2013 , 08:18:21 pm | Posted By CASANSAAR

    Making garlands of currency notes, a common practice in Indian marriages and political rallies, has been sought to be discouraged by the Reserve Bank of India (RBI). "The Reserve Bank of India has appealed to members of public not to use banknotes for making garlands, decorating pandals and places ...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 416

  • RBI allows banks to borrow overseas up to 100% of capital
    Posted Date : 11-Sep-2013 , 08:32:56 am | Posted By CASANSAAR

    The Reserve Bank of India has allowed banks to borrow overseas up to 100% of their capital and swap it at a subsidized rate as promised by governorRaghuram Rajan immediately after taking charge at the country's central bank. This was one of the first few announcements made b...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 322

  • RBI allows people going abroad to carry up to Rs 10k
    Posted Date : 07-Sep-2013 , 08:51:09 am | Posted By CASANSAAR

    Providing greater flexibility to individuals travelling abroad, the Reserve Bank of India, on Friday, allowed them to carry Indian currency of up to Rs.10,000 per person.   The limit has been increased from the existing Rs.7,500 per person.   “As part of providing greater flexibi...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 605

Search News
News By Categories More Categories

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.