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Posted Date : 01-Sep-2011 , 08:12:56 pm | Posted By CASANSAAR
The Reserve Bank on Thursday cautioned public against investing in non-banking finance institutions (NBFI), including Forex Achievements, which are not registered with the central bank. "Public are hereby cautioned not to deposit money with such unincorporated bodies. Persons depositing money w...
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Posted Date : 28-Aug-2011 , 04:52:53 pm | Posted By CASANSAAR
The RBI has said Indian banks will adhere to the globally agreed timeline for implementation of Basel III norms and guidelines in this regard will be issued in the near future. "The RBI is examining the Basel III regulations and will issue guidelines to the extent applicable for banks operating i...
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Posted Date : 27-Aug-2011 , 11:48:57 am | Posted By CASANSAAR
The Reserve Bank of India has more than doubled its reserves for contingencies this fiscal amid fears of the return of financial instability, such as the one in 2008, due to the worsening European sovereign crisis and flagging US economic recovery. Financial market troubles had eroded the profi...
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Posted Date : 27-Aug-2011 , 08:03:33 am | Posted By CASANSAAR
Banking and monetary regulator Reserve Bank of India has indicated that there is probability of further rise in NPA level of banks. The concern was expressed by Anand Sinha, deputy governor, RBI. He however said that there is still no chance of any kind of systemic risk arising. Systemic risk ref...
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Posted Date : 24-Aug-2011 , 07:27:59 am | Posted By CASANSAAR
After implementing the move to split the posts of chairmen and chief executive officers (CEOs) in private banks in 2007, the Reserve Bank of India (RBI) is now considering the same step for public sector banks. At a banking seminar organised by the Federation of Indian Chambers of Commerce ...
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Posted Date : 19-Aug-2011 , 04:50:38 pm | Posted By CASANSAAR
Entrepreneurs and Finance Customer Association of India (EFCAI) has urged Reserve Bank of India (RBI) to allow post offices function as Banks. In a memorandum submitted to RBI deputy governor, H R Khan here, the EFCAI has pointed out that India has the world's largest postal network in India with ov...
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Posted Date : 13-Aug-2011 , 07:44:29 am | Posted By CASANSAAR
The Reserve Bank said the option of going for another round of rate hike at its next mid-quarterly policy review in September do exist as inflationary pressure continues in the economy. "Probability is always there," RBI Deputy Governor K C Chakrabarty said here today when asked whether another r...
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Posted Date : 10-Aug-2011 , 11:54:27 am | Posted By CASANSAAR
The high court on Tuesday observed that banks recovering penal charges from customers not maintaining minimum balance in their accounts might have to pay back the amount with penal interest once the RBI comes out with its decision. The court's observation came following a public interest litiga...
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Posted Date : 09-Aug-2011 , 04:46:24 pm | Posted By CASANSAAR
Ending months of suspense, Prime Minister Manmohan Singh today gave a two-year extension to RBI Governor D Subbarao beyond September. "The Prime Minister approved the extension to D Subbarao, Governor of RBI, for two years," a PMO spokesman said. The extension will be with effect from Sept...
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Posted Date : 05-Aug-2011 , 11:37:54 am | Posted By CASANSAAR
Indian companies can now pay perks to their employees in plastic money. In a move that could pave the way for cashless settlements of perquisites and reimbursements, RBI on Thursday allowed banks to issue pre-paid payment instruments to corporates for onward issuance to their employees."Pre-pa...
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Posted Date : 04-Aug-2011 , 10:18:19 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today reconstituted the Technical Advisory Committee (TAC), which advises the apex bank on its monetary policy stance, in the light of macroeconomic and monetary developments. The reconstituted committee would include eminent economists like Shankar Acharya o...
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Posted Date : 30-Jul-2011 , 10:25:56 pm | Posted By CASANSAAR
TheRBI today imposed apenalty of Rs 5 lakh on city-basedKalupur Commercial Co-operative Bank (KCCB) for its non-adherence to mandatorybanking rules, an official statement said. A penalty of Rs 5 lakh has been imposed on KCCB for violation related to Know Your Customer(KYC) norms, membership to ...
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Posted Date : 30-Jul-2011 , 03:35:37 pm | Posted By CASANSAAR
The Reserve Bank of India will soon put into circulation new series ofcoins of Rs two and Rs five denominations. AnRBI press release said The Rs two coin would have on the obverse side, the lion capitol of Ashoka Pillar with the legend 'Satyameva Jayathe' (in Hindi) flanked on the left peripher...
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Posted Date : 27-Jul-2011 , 02:13:16 pm | Posted By CASANSAAR
Appeals from banks to revise the norms for identification and classification of bad loans based on the commercial operation date of a project, have failed to find favour with the Reserve Bank of India (RBI). The banking regulator has no plan to change the guidelines and will consider reques...
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Posted Date : 26-Jul-2011 , 02:07:28 pm | Posted By CASANSAAR
ndustry was united in its response to the rate hike announced by the Reserve Bank of India today, as several corporate leaders feared that the 50-basis-point increase in repo and reverse repo rates would see production and borrowing costs go up. Here is what some of them had to say: Arvind ...
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Posted Date : 24-Jul-2011 , 05:05:49 pm | Posted By CASANSAAR
Faced with inflation much above the comfort level, the Reserve Bank is likely to raise key interest rates by another 25 basis points in its first quarterly review of monetary policy 2011-12 on July 26. "There is a general perception that (policy) rates are going to go up by 25 basis points,"Can...
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Posted Date : 23-Jul-2011 , 07:18:44 am | Posted By CASANSAAR
The Reserve Bank today said it will soon put into circulation new coins in five denominations, ranging from fifty paise to Rs 10. "The RBI will shortly put in circulation... coins of the fifty paise, one rupee , two rupees, five rupees and ten rupees denominations," the apex bank said in a statement...
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Posted Date : 20-Jul-2011 , 01:50:59 pm | Posted By CASANSAAR
RBI is expected to raise its key policy rate by a further 25 basis points next week after inflation quickened in June and may hike once more by the end of the year, before pausing its long tightening campaign, a new Reuters poll shows. Expectations that the repo rate will peak at 8 percent by e...
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Posted Date : 14-Jul-2011 , 03:16:57 pm | Posted By CASANSAAR
After coming down heavily on banks for not making adequate provision for increased pension liabilities arising out of wage revision, the Reserve Bank of India (RBI) now wants all public sector banks to have uniform pension liabilities. According to sources in the banking industry, the centr...
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Posted Date : 10-Jul-2011 , 10:12:53 pm | Posted By CASANSAAR
At a time when the government is grappling with the black money menace, the RBI has penalised as many as 48 small banks in just six months, for lapses in implementing customer identification norms and various other violations. In the first six months of 2011, the apex bank has slapped penalties on 4...
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Posted Date : 07-Jul-2011 , 07:32:01 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday capped banks’ investments in non-financial companies to prevent commercial lenders from taking control of the management of these entities. Investments are capped at 10% of the equity of the company or equity and reserves of the bank, which...
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Posted Date : 05-Jul-2011 , 07:22:43 am | Posted By CASANSAAR
The Reserve Bank of India on Monday imposed a penalty of 25 lakh on Citibank for violation of anti money laundering (AML) and know your customer norms that led to a 400-crore fraud at one of its branches in Gurgaon. "The failure in following the KYC/AML guidelines while opening accounts led to the p...
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Posted Date : 01-Jul-2011 , 10:09:11 am | Posted By CASANSAAR
In order to check banking frauds, the Reserve Bank of India (RBI) today asked public sector lenders to promptly report cases of cheating involving Rs 1 crore and above to the CBI, and of the lesser amount to the police. "Incidence of frauds, dacoities, robberies, etc, in banks is a matter o...
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Posted Date : 29-Jun-2011 , 08:21:45 am | Posted By CASANSAAR
The Reserve Bank of India has expressed its dissatisfaction on the reporting standards of foreign banks operating in the country, which it says need improvement. RBI deputy governor KC Chakrabarty said: "You need technology if you have a large branch network. Foreign banks don't have very large netw...
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Posted Date : 25-Jun-2011 , 07:41:41 am | Posted By CASANSAAR
Alarmed by inflated valuations of real estate properties for the purpose of loans, the Reserve Bank of India (RBI) has asked all banks to submit an action-taken report on the issue. The matter was raised last week by RBI Governor D Subbarao during a meeting of the Board for Financial Superv...
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Posted Date : 17-Jun-2011 , 09:21:37 am | Posted By CASANSAAR
The Reserve Bank has imposed a monetary penalty of Rs 1 lakh on Kheda-based Pij People's Cooperative Bank for violation of anti-money laundering guidelines."RBI has imposed a monetary penalty of Rs 1 lakh on the Pij People's Cooperative Bank Ltd... for not reporting cash transactions in excess of Rs...
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Posted Date : 16-Jun-2011 , 08:02:32 am | Posted By CASANSAAR
The June Financial Stability Report of the Reserve Bank of India (RBI) has a section on stress testing of banks. RBI projected banks’ balance sheets for 2011-12 and finds that at end-March 2012, the level of gross non-performing assets (NPAs) will rise to 2.92% of advances, assuming the tighte...
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Posted Date : 16-Jun-2011 , 02:07:38 am | Posted By CASANSAAR
Be prepared to pay more every month on your home, auto and other loans, as the Reserve Bank today, for the 10th time since March, 2010, raised key interest rates by 25 basis points in its effort to control spiralling inflation.The RBI has raised the short-term lending (repo) rate by 25 basis points ...
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Posted Date : 15-Jun-2011 , 07:47:27 am | Posted By CASANSAAR
The Reserve Bank today cautioned rising interest rate and high cost of funds could hurt the profitability of the banking sector."Going ahead, with hardening interest rates and the imminent increase in cost of funds, the credit growth is expected to slow down, which could adversely affect the profita...
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Posted Date : 14-Jun-2011 , 07:14:47 am | Posted By CASANSAAR
Cheque transactions worth over Rs 8.66 lakh crore were carried out in the country during April, 2011, a growth of over 0.7 per cent from the same month last year. Banks had cleared cheques worth almost Rs 8.60 lakh crore in April 2010, as per the latest data from the Reserve Bank . However, the tota...
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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.
