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Posted Date : 27-Mar-2012 , 02:59:01 pm | Posted By CASANSAAR
RBI has asked banks to avoid offering sharply different rates on deposits with similar maturities, saying that something is wrong with lenders if their retail and bulk deposit rates vary too much. "If it (the difference between retail and bulk deposit rates) varies too much...
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Posted Date : 15-Mar-2012 , 12:38:35 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today kept key policy rate unchanged and said future policy action would be determined by the movement in inflation. "On the basis of the current macroeconomic assessment, it has been decided to keep the policy repo rate under the liquidity adjustment f...
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Posted Date : 10-Mar-2012 , 08:05:47 am | Posted By CASANSAAR
The Reserve Bank of India cut the cash reserve ratio, the share of deposits that banks must hold with it, by 75 basis points to 4.75 percent after the close of local markets. The sharp and accelerated CRR cut upset conventional market wisdom that the RBI's mid-quarter policy review scheduled for Ma...
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Posted Date : 23-Feb-2012 , 07:45:50 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today announced that it would purchase government securities worth Rs 12,000 crore through open market operations (OMOs) on Friday to ease the current liquidity crisis. "Consistent with the stance of monetary policy and based on the current assessment of prev...
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Posted Date : 20-Feb-2012 , 08:29:35 am | Posted By CASANSAAR
The Reserve Bank of India has advised banks to consider putting in place unique customer identification (UCI) numbers for customers and filter out multiple banking facilities availed by them through a de-duplication exercise. Currently, the Reserve Bank guidelines permit the use of Aadhaar as ...
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Posted Date : 15-Feb-2012 , 05:13:59 pm | Posted By CASANSAAR
In a move to accelerate the growth and penetrations of ATMs across the country, the Reserve Bank of India, RBI has issued draft guidelines for permitting non-banking entities to set up, own and operate such money dispensing machines.Non-bank entities proposing to set up such service will have a mini...
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Posted Date : 14-Feb-2012 , 04:18:43 pm | Posted By CASANSAAR
After a gap of nearly nine years, the Reserve Bank has increased the bank rate by 3.50 percentage points to 9.5 per cent with immediate effect. "This (the increase) should be viewed and understood as one-time technical adjustment to align the Bank Rate with the marginal standing facility (MSF) ra...
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Posted Date : 08-Feb-2012 , 08:22:55 am | Posted By CASANSAAR
The Reserve Bank of India, RBI on Tuesday asked banks to locate and refund unclaimed deposits estimated at over 1700 crore rupees. In an instruction to banks, the RBI said that banks in public interest must play a more pro-active role by finding the whereabouts of the account holders of unclaimed de...
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Posted Date : 06-Feb-2012 , 07:52:29 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday cautioned Kerala-based gold-loan company Manappuram Finance Ltd against accepting deposits from the public and threatened to take action if it continued doing so. RBI said acceptance of deposits either by Manappuram Finance or Manappuram Agro Farms (Mag...
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Posted Date : 04-Feb-2012 , 08:22:48 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has asked all commercial banks to refrain from overvaluing houses while providing loans.In a notification issued from Mumbai on Friday, RBI has noticed that some banks include stamp duty, registration and other documentation charges in the cost of the house property, ...
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Posted Date : 24-Jan-2012 , 11:17:02 am | Posted By CASANSAAR
The Reserve Bank of India in its quarterly review meet on Tuesday cut the cash reserve ratio (CRR) by 50 bps to ease tight liquidity pressure in the banking system. RBI kept repo and reverse repo rates unchanged at 8.5% and 7.5% respectively, despite mounting anxiety over slowdown in growth. The...
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Posted Date : 24-Jan-2012 , 08:20:46 am | Posted By CASANSAAR
Amid slowing economic growth, the Reserve Bank of India (RBI) is reviewing its credit policy on Tuesday. RBI is not expected to cut interest rates at its review as it remains worried about inflation, but it may cut the cash reserve ratio (CRR) for banks as a way to relieve tight liquidity, a move th...
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Posted Date : 24-Jan-2012 , 08:14:44 am | Posted By CASANSAAR
The Reserve Bank today pitched for expediting economic reforms including reduction of subsidy and implementation of DTC and GST to contain the fiscal deficit which is expected to exceed the Budget estimate. "Prospectively, improvement in fiscal situation in 2012-13 is not only contingent upon the...
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Posted Date : 22-Jan-2012 , 10:00:31 pm | Posted By CASANSAAR
Overlooking the demand of India Inc to lower interest rates, the Reserve Bank in its policy review may refrain from cutting policy rate as the inflation of manufactured goods is still high. "I don't see moderation in the interest rate (in the coming policy). CRR (Cash Reserve Ratio) cut I am not ho...
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Posted Date : 21-Jan-2012 , 08:33:05 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has clarified that interest rates on small savings schemes, except the PPF, will remain fixed throughout the term of schemes. In a circular, RBI said interest rate for small savings will be declared on April 1 every year and will remain valid till the maturity of the ...
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Posted Date : 14-Jan-2012 , 07:41:01 am | Posted By CASANSAAR
The Reserve Bank of India has laid down guidelines for compensation of executives at private and foreign banks aimed at preventing greed from destabilising the institution, with provisions to clawback pay if transactions fail years after origination. The guidelines based on the recommendations of...
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Posted Date : 13-Jan-2012 , 09:07:43 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today operationalised the change in FDI policy by removing restrictions on foreign investment limit in single brand retail. "...it has now been decided that FDI up to 100% would be permitted in single brand product trading under the government route..., ...
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Posted Date : 12-Jan-2012 , 08:33:14 am | Posted By CASANSAAR
The regulator said these transactions are partly responsible for sharp depreciation in the rupee against the dollar. The Reserve Bank of India (RBI) has cracked the whip on some of the large foreign banks in the country for encouraging companies to participate in speculative trades in the f...
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Posted Date : 10-Jan-2012 , 09:22:51 am | Posted By CASANSAAR
Seeking to enhance role of auditors in ensuring solvency of banks, the Reserve Bank of India wants chartered accountants to ask pointed questions concerning risk assessment and capital adequacy of lenders. "Auditors will need to move beyond narrow transactions audit consideration to look at the l...
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Posted Date : 08-Jan-2012 , 07:43:55 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) Saturday asked people not to deposit their hard earned money in unauthorised non-banking financial companies (NBFCs) and institutions in the hope of getting hefty returns. "Please do not fall into the trap of hefty returns in quick succession," said RBI executive d...
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Posted Date : 06-Jan-2012 , 04:35:11 pm | Posted By CASANSAAR
The Reserve Bank has cancelled the licence of city-based Veershaiva Co-operative Bank, as the lender has become insolvent. "In view of the fact that Veershaiva Co-operative Bank Ltd, Mumbai (Maharashtra), had ceased to be solvent... the Reserve Bank of India delivered the order cancelling its li...
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Posted Date : 06-Jan-2012 , 08:29:51 am | Posted By CASANSAAR
RBI raised the annual limit of Foreign Currency Convertible Bonds (FCCBs) for companies to USD 750 million under the automatic route, which does not require prior permission from it. The limit, up from USD 500 million in a fiscal year, will not only help Indian corporate across all segments...
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Posted Date : 06-Jan-2012 , 08:18:42 am | Posted By CASANSAAR
Reserve Bank of India (RBI) deputy governor Subir Gokarn on Thursday said it was important to ensure that companies could meet their forex obligations. From a policy perspective, he stressed that liquidity rather than cost was the issue. “We are looking at ways to make sure the flow...
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Posted Date : 02-Jan-2012 , 08:27:55 pm | Posted By CASANSAAR
Concerned over the declining growth, Reserve Bank Governor D Subbarao has indicated that the central bank could reverse the tight monetary stance adopted by it since March 2010 to tame inflation. "From here on we could expect reversal of monetary tightening," Subbarao told the BBC in an interview...
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Posted Date : 31-Dec-2011 , 08:10:02 am | Posted By CASANSAAR
The RBI says Tier 1 capital comprising pure equity and statutory and capital reserves must be at least 7 per cent and total capital must be at least 9 per cent of risk-weighted assets (RWAs). In order to strengthen risk management mechanism, the Reserve Bank today issued draft guideline envisaging ...
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Posted Date : 29-Dec-2011 , 09:03:43 am | Posted By CASANSAAR
The Reserve Bank today allowed cooperative and primary urban cooperative banks to fix their interest rates on various non-resident deposit schemes.Extending the ambit of its recent decision to deregulate deposit rates, RBI said, "Banks are free to determine their interest rates on both savings d...
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Posted Date : 28-Dec-2011 , 12:31:53 pm | Posted By CASANSAAR
The Reserve Bank of India, RBI, has cautioned the public against falling prey to fictitious offers of cheap funds that are rampant in recent times.In a press statement at Guwahati, the RBI said, the fraudsters often lure the public in the form of lottery prize money through letters, e-mails, SMS etc...
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Posted Date : 28-Dec-2011 , 09:00:47 am | Posted By CASANSAAR
To tide over the current liquidity crisis, the Reserve Bank today announced it will purchase government securities worth Rs 12,000 crore on Thursday through open market operations. "Consistent with the stance of monetary policy and based on the current assessment of prevailing and evolving liquid...
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Posted Date : 23-Dec-2011 , 08:30:46 am | Posted By CASANSAAR
Bad loan growth in Indian banks this year has been over thrice the average growth in the preceding five years. While most bad loans are in retail, priority sector and infrastructure, RBI is worried about the power sector which is going through a high level of stress.&nb...
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Posted Date : 21-Dec-2011 , 08:17:33 am | Posted By CASANSAAR
The Reserve Bank has imposed penalties on 19 commercial banks, including SBI, HDFC Bank, ICICI Bank and Citibank, for violating norms on derivatives, Parliament was informed. RBI has informed that they had imposed penalties on 19 commercial banks on April 26, 2011, for contravention of various...
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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.
