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Posted Date : 02-Apr-2013 , 08:17:31 am | Posted By CASANSAAR
The Reserve Bank of India has allowed core investment companies or CICs to set up a joint venture company for undertaking insurance business with risk participation, subject to safeguards. Besides a minimum net worth of Rs 500 crore and a satisfactory track record, the ...
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Posted Date : 01-Apr-2013 , 08:15:04 am | Posted By CASANSAAR
The Srikrishna commission's proposal to form a Unified Financial Agency (UFA) for all financial firms has not gone down well with the Reserve Bank of India (RBI). The central bank has vehemently opposed the proposal, citing different reasons, including lack of focus and unconvincing results abroad....
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Posted Date : 30-Mar-2013 , 08:01:08 am | Posted By CASANSAAR
Canara Bank, ICICI Bank, Axis Bank and 10 other lenders to Deccan Chronicle Holdings (DCH) are likely to soon meet soon to decide on their future course of action. The ailing media group, which publishes Deccan Chronicle, Asian Age, Financial Chronicle and Andhra Bhoomi newspapers, has defaulted on ...
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Posted Date : 29-Mar-2013 , 07:51:42 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday postponed the implementation of Basel-III regulations for the currency derivatives segment to next January, pending resolution of norms regarding trade settlement, even as it said the new capital adequacy requirements could kick in from Sunday. "In view o...
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Posted Date : 26-Mar-2013 , 08:13:03 am | Posted By CASANSAAR
Gujarat, Madhya Pradesh, Bihar and Karnataka, the states that are pulling out all stops to increase infrastructure investment especially in the roads, ports and some categories of the power sector, are likely to be the most immediate political beneficiaries of a purely economic move by the Reserve B...
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Posted Date : 23-Mar-2013 , 08:40:11 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday asked banks not to include their contingent liabilities and off-balance-sheet items while calculating the so-called priority sector target. Banks are required to make 40% of their loans to the so-called priority sector. This includes agriculture, export...
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Posted Date : 19-Mar-2013 , 12:02:26 pm | Posted By CASANSAAR
In line with expectations, the RBI Tuesday cut its short-term lending rate by 0.25 percent to spur growth and revive investment but sounded a note of caution on further easing of rates on account of high food inflation and current account deficit. "The foremost challenge for returning the economy t...
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Posted Date : 16-Mar-2013 , 08:37:24 am | Posted By CASANSAAR
Banks have been advised by RBI to consider issuing debit and credit cards with photographs of the cardholders to prevent misuse of stolen cards, the Lok Sabha was informed today."Banks have been advised by the RBI that, with a view to reducing the instances of misuse of lost/stol...
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Posted Date : 14-Mar-2013 , 08:52:53 am | Posted By CASANSAAR
Next time you get an email from the Reserve Bank of India think again? An email allegedly from India's central bank, asking denizens to secure their bank account details with the RBI is fake, and an attempt by new-age fraudsters to con people into giving away bank account ...
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Posted Date : 10-Mar-2013 , 10:47:11 am | Posted By CASANSAAR
Major irregularities have surfaced in the country's external trade with about 65%-96% of export data found not matching against their corresponding banking transactions. A recent check was conducted by the central bank which revealed that the unmatched data is worth more than Rs 2 lakh crore of expo...
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Posted Date : 09-Mar-2013 , 05:16:20 pm | Posted By CASANSAAR
The Reserve Bank of India - RBI today signed the first Currency Swap Agreement with the Royal Monetary Authority of Bhutan. A notification issued by RBI said the Royal Monetary Authority of Bhutan can draw US Dollar, Euro or Indian Rupee in multiple tranches up to a maximum of 100 million US do...
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Posted Date : 08-Mar-2013 , 07:57:02 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today said it would clarify the issues raised by banking aspirants regarding the final norms on new bank licences. The clarifications would be put up on the central bank’s website, rbi.org.in. “RBI has been receiving queries from intending applicants, see...
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Posted Date : 21-Feb-2013 , 07:41:14 am | Posted By CASANSAAR
The Reserve Bank tightened norms for import of precious and semi-precious stones by imposing a limit of 90 days towards letter of credit. "It is clarified that Suppliers' and Buyers' Credit (trade credit) including the usance period of Letters of Credit opened for import ofprecious stones...
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Posted Date : 29-Jan-2013 , 09:01:55 pm | Posted By CASANSAAR
The Reserve Bank today slashed its key interest rates by 0.25 per cent to 7.75 per cent . The Chairman of the Prime Minister's Economic Advisory Council, Dr. C. Rangarajan said that cut in interest rate will stimulate investment and help in anchoring inflationary expectations.The RBI Governor, D.Sub...
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Posted Date : 25-Jan-2013 , 08:40:45 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) is expected to reward the government next week for its efforts to reform the economy and bring its finances under control by announcing its first cut in interest rates in nine months. The RBI has been growing in confidence that the governmen...
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Posted Date : 24-Jan-2013 , 06:00:02 pm | Posted By CASANSAAR
The Reserve Bank on Thursday hiked FII investment limits in government securities and corporate bonds by $ 5 billion each, taking the total cap in domestic debt to $ 75 billion, with a view to bridging the current account deficit. Further liberalising the norms, the...
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Posted Date : 23-Jan-2013 , 01:04:55 pm | Posted By CASANSAAR
Home loan borrowers who have opted for fixed rates may have easier terms on their mortgages as the Reserve Bank of India has advised banks to revise the penalty structure on prepayments and charge it only on the outstanding amount. It has also recommended that banks should focus on raising...
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Posted Date : 23-Jan-2013 , 09:39:08 am | Posted By CASANSAAR
With a view to encouraging exports, Reserve Bank of India, RBI has directed urban co-operative banks to extend interest subvention of 2 per cent for exporters in segments like handicraft, carpets,small and medium enterprises and certain engineering goods, by a year till March 2014. RBI in its n...
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Posted Date : 22-Jan-2013 , 09:05:41 am | Posted By CASANSAAR
Indian companies in the hotel sector (with a total project cost of Rs 250 crore or more), irrespective of their geographical location, have been allowed to tap the external commercial borrowing (ECB) route. The ECBs will be for repayment of outstanding rupee loan(s) and/or for fre...
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Posted Date : 20-Jan-2013 , 01:42:24 pm | Posted By CASANSAAR
The banking system has recently shown signs of moderate rise in instability due to increase in non-performing assets (NPAs), the Reserve Bank has said in a working paper. "The movements in the banking stability indicator...that there are symptoms of a moderate rise in instability of the banking sec...
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Posted Date : 19-Jan-2013 , 09:01:56 am | Posted By CASANSAAR
The Reserve Bank Friday said personal appearance before the compounding authority in FEMA cases is not mandatory and has no bearing on the penalty imposed. "... Appearing for a personal hearing before the compounding authority is optional and the applicant can choose not to appear for it," RBI said...
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Posted Date : 08-Jan-2013 , 09:20:07 am | Posted By CASANSAAR
The corporate bond market was in for a boost on Monday as the Reserve Bank of India (RBI) allowed repo transactions in commercial papers (CPs), certificates of deposits (CDs) and non-convertible debentures (NCDs) maturing in less than one year. While companies issue CPs, banks issue CDs to ...
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Posted Date : 07-Jan-2013 , 10:54:53 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today said it has cancelled registration of two non-banking financial companies — Emcorp Finance Ltd andCare Credit and Investments Company Pvt Ltd. “Following cancellation of the registration certificate the companies cannot transa...
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Posted Date : 05-Jan-2013 , 03:08:57 pm | Posted By CASANSAAR
The Reserve Bank of India has directed banks to place information regarding any frauds before the audit committee of the board of directors every quarter. In a notification on Friday, RBI said an annual review of frauds should also be conducted and placed before the ...
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Posted Date : 02-Jan-2013 , 06:46:45 pm | Posted By CASANSAAR
Urjit Patel has been appointed as a deputy governor of the Reserve Bank of India, banking secretary DK Mittal told Reuters on Wednesday. Patel will replace Subir Gokarn, who was heading the monetary policy department, among others in the central bank. P...
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Posted Date : 31-Dec-2012 , 10:10:57 pm | Posted By CASANSAAR
The United Forum of Reserve Bank Officers and Employees has decided to defer tomorrow's proposed nationwide strike. The forum said in a statement that the decision to defer the strike was taken after the RBI management gave an assurance that the currency and coins counters of the central ba...
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Posted Date : 30-Dec-2012 , 09:25:10 am | Posted By CASANSAAR
The Reserve Bank of India has rescheduled the date for implementation of Basel III norms to April 1. The earlier deadline was January 1, 2013. This comes as a relief for banks as Basel III norms require the equity capital of a bank to be not less than 5.5 per cent of risk-weighted loans, as per the...
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Posted Date : 29-Dec-2012 , 08:38:58 am | Posted By CASANSAAR
Employees and officers under the banner of United Forum of RBI Officers and Employees have called a country-wide strike on January one 2013 to protest the decision to close currency notes and coins issue counters from that date. In a press statement issued by the forum, General Secretary of...
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Posted Date : 27-Dec-2012 , 08:09:22 am | Posted By CASANSAAR
More than two-thirds of non-banking finance companies (NBFCs) face closure if the Usha Thoratpanel recommendation on minimum asset size is implemented by the Reserve Bank of India, shutting a vital source of funding in many parts of the country.Nearly 9,000 companies lending to borro...
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Posted Date : 25-Dec-2012 , 08:37:18 am | Posted By CASANSAAR
The Reserve Bank of India on Monday said it will pump in Rs 8,000 crore in the market on December 28 by buying government securitiesto ease the liquidity situation. “Consistent with the stance of monetary policy and based on the current assessment of prevailin...
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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.
