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Posted Date : 14-Jun-2011 , 05:56:03 am | Posted By CASANSAAR
Resuming its upward climb, the headline inflation in May rose to 9.06 per cent on costlier fruits, petrol and manufactured goods and heightened fears of another hike in interest rates by the RBI on Thursday.Even as the increasing prices of essential items pushed up the inflation rate during the repo...
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Posted Date : 06-Jun-2011 , 09:43:14 pm | Posted By CASANSAAR
Violent swings in banks' earnings whenever there is a change of guard, known as the new broom syndrome, is not reflective of best practices, said a central banker in a veiled caution to local lenders to end accounting jugglery to dress up performance. "Financial reporting should not be as per the mi...
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Posted Date : 06-Jun-2011 , 10:57:22 am | Posted By CASANSAAR
Ahead of its mid-quarterly policy review, the Reserve Bank today said it is monitoring the economic data and also the liquidity situation, and would take a forward-looking view while deciding on the policy action."We would monitor various data...and take a forward- looking view and take action", RBI...
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Posted Date : 05-Jun-2011 , 09:00:12 pm | Posted By CASANSAAR
Foreign capital inflows are insensitive to interest rate changes in the country, according to a Reserve Bank of India (RBI) study. It said that a percentage point rise in interest rate results in just about 0.05 percentage points increase in net capital flows to India. The RBI said domestic industri...
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Posted Date : 02-Jun-2011 , 12:03:11 pm | Posted By CASANSAAR
Amid rising instances of debit and credit card frauds, a RBI panel has recommended that banks should put in place secure systems to check such cases within a year's time."All acquirers and issuers may put in place adequate fraud risk management systems and processes (within) 12 months," said the pan...
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Posted Date : 27-May-2011 , 06:54:42 am | Posted By CASANSAAR
The Reserve Bank today directed banks to reimburse customers for amounts wrongfully debited from their accounts in failed ATM transactions within seven days of an account holder's complaint or else pay a Rs 100 per day compensation."The time limit for resolution of customer complaints by the issuing...
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Posted Date : 25-May-2011 , 11:20:37 am | Posted By CASANSAAR
In order to improve transparency and avoid build up of a financial crisis, a Reserve Bank panel today suggested tighter norms for reporting and monitoring of interest rate and forex derivatives.The report of the Working Group set up by the Reserve Bank suggested that Clearing Corporation of In...
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Posted Date : 23-May-2011 , 09:05:55 pm | Posted By CASANSAAR
In an effort to improve due diligence, the Reserve Bank of India (RBI) on Monday asked banks to seek information from their directors on any adverse strictures passed by financial sector regulators against them. The banking regulator has partially modified the format of ‘Declaration a...
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Posted Date : 23-May-2011 , 08:53:55 pm | Posted By CASANSAAR
Conglomerates like ICICI Bank, SBI and HDFC will find it easier to raise capital for new financial activities with the Reserve Bank of India favouring a holding company structure for both banking and non-banking financial groups. The central bank in its proposed norms for holding companies has said ...
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Posted Date : 18-May-2011 , 09:07:00 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday tightened the prudential norms for banks and raised provisioning requirement for bad loans by up to 10 per cent, a development that would impact bottom lines of banks. Advances classified as sub-standard will attract a provision of 15 per cent ag...
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Posted Date : 17-May-2011 , 09:27:58 pm | Posted By CASANSAAR
RBI governor D Subbarao has said the central bank may have to sacrifice growth to manage inflation. "High inflation negates prospects of growth," said Mr Subbarao, speaking at the Indira Gandhi Institute of Development Research in Mumbai on Monday. "For faster growth, we need to manage the growth-in...
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Posted Date : 11-May-2011 , 08:54:59 pm | Posted By CASANSAAR
Tightening its regulations over the operations of foreign banks in the country, the Reserve Bank of India (RBI) has asked their chief executive officers (CEO) to monitor the compliance system. It is observed that operations of foreign banks functioning in India as branches of the pa...
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Posted Date : 10-May-2011 , 11:49:46 am | Posted By CASANSAAR
Reserve Bank of India (RBI) would shortly come out with draft norms on new banking licences, a senior RBI official said."RBI will shortly come out with draft guidelines on new banking licenses", B Mahapatra, CGM in-charge of Department of Banking Operations and Development, RBI, said.Last year...
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Posted Date : 10-May-2011 , 11:48:52 am | Posted By CASANSAAR
The Reserve Bank has imposed a monetary penalty of Rs 1 lakh each on two cooperative lenders -- Randheja Commercial Cooperative Bank and Gandevi People's Cooperative Bank -- for violation of banking norms.The Gandhinagar-based Randheja Commercial Co-operative Bank has been penalised for violat...
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Posted Date : 08-May-2011 , 10:59:01 am | Posted By CASANSAAR
The Reserve Bank is likely to make it mandatory for foreign banks in the country to operate as wholly-owned subsidiaries, in line with the international practice, so that the central bank can have better control over their working.Initially, according to sources, the new banks and the existing ones ...
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Posted Date : 03-May-2011 , 11:11:28 am | Posted By CASANSAAR
In line with international practice, the RBI today decided to anchor monetary policy through a single short term lending rate known as repo rate.Unlike in the past, the rate at which the RBI borrows from banks (reverse-repo) will be the benchmarked 100 basis points below the repo rates.Accordi...
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Posted Date : 03-May-2011 , 03:41:56 am | Posted By CASANSAAR
In a bid to clamp down on resurgent inflation, the Reserve Bank of India, in its first monetary policy review of 2012, raised repo and reverse repo rates by 50 basis points, thus breaking its calibrated approach. The cash reserve ratio (amount of funds that banks have to keep with RBI), ho...
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Posted Date : 02-May-2011 , 09:22:19 pm | Posted By CASANSAAR
Loans are expected to get more expensive both for corporates and individuals with Reserve Bank of India hinting that it is willing to sacrifice some growth in order to tame inflation. For markets, banks and economists , it is almost certain that RBI will raise interest rates by a minimum of 25 basis...
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Posted Date : 01-May-2011 , 11:23:45 am | Posted By CASANSAAR
Faced with stubborn inflation, RBI is likely to raised key policy rates by at least 25 basis points in its annual credit policy for 2011-12 to be announced on Tuesday to arrest the rate of price rise, say bankers."Given the macro economic conditions, it is expected that the RBI would hike rates by a...
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Posted Date : 29-Apr-2011 , 11:16:41 am | Posted By CASANSAAR
Amid concerns over high inflation and the possibility of hike in key policy rates, Reserve Bank governor D Subbarao today called on Finance Minister Pranab Mukherjee to discuss the state of economy ahead of the apex bank's monetary policy next week."As a standard practice I had come to review the ma...
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Posted Date : 26-Apr-2011 , 11:59:55 am | Posted By CASANSAAR
The Reserve Bank (RBI) today slapped a penalty of Rs1.95 crore on 19 banks, including heavyweights SBI, HDFC Bank, ICICI Bank and Citibank, for violating norms on derivatives, an instrument used to hedge financial risks. The fine has been imposed on the banks for selling derivative products...
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Posted Date : 17-Apr-2011 , 11:14:28 am | Posted By CASANSAAR
With inflation showing no signs of moderation, economists expect the Reserve Bank to hike key policy rates by at least 25 basis points in its annual monetary policy to be unveiled on May 3. The headline inflation (WPI) stood at 8.98 per cent for March, much above the RBI's projection of 8 per cen...
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Posted Date : 17-Apr-2011 , 11:13:44 am | Posted By CASANSAAR
Cheque transactions worth over Rs 7.97 lakh crore were carried out in the country during February, 2011, a growth of over 2.5 per cent from the same month last year. Banks had cleared cheques worth over Rs 7.77 lakh crore in February 2010, as per the latest data from the Reserve Bank.A total of 1,0...
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Posted Date : 09-Apr-2011 , 11:28:13 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday extended its special borrowing facility for banks till 6 May-the sixth time since it was introduced in October. Under the facility banks can borrow up to 1% of their deposits without paying any penal interest if there is a shortfall on their statutory liquid...
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Posted Date : 09-Apr-2011 , 11:24:04 pm | Posted By CASANSAAR
Mahindra Satyam -- brand identity of Satyam Computer Services Limited -- which recently announced that it had agreed to pay USD 125 million to settle class action suits in USA, is yet to get Reserve Bank's nod to transfer the funds, a senior company official said. "It (RBI) wanted some clarification...
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Posted Date : 02-Apr-2011 , 08:24:47 am | Posted By CASANSAAR
The Reserve Bank today prohibited Non-Banking Finance Companies (NBFCs) from contributing to the capital of a partnership firm or become a partner of such entities. The central bank also asked NBFCs, which have already contributed capital or are partner in such firms, to exit from such arrangemen...
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Posted Date : 26-Mar-2011 , 10:18:59 pm | Posted By CASANSAAR
The finance ministry has opposed the Reserve Bank of India's suggestion to restrict foreign direct investment in new banks to 49%, saying the change in norms will hurt investor sentiment. It has also asked the central bank to bar real estate firms from seeking banking licences and a...
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Posted Date : 18-Mar-2011 , 10:38:31 am | Posted By CASANSAAR
The Reserve Bank of India raised policy rates for the eighth time in a year by the expected 25 basis points to tackle inflation that is running disproportionately higher with a potential to whittle down the government's cherished 9% economic growth. Come April, borrowers will pa...
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Posted Date : 14-Mar-2011 , 12:27:55 pm | Posted By CASANSAAR
Reserve Bank executive director G Gopalakrishna, speaking to reporters on the sidelines of a banking technology conference here, further said the banks will have to implement the facility of "second factor verification" at merchant establishments and ATMs shortly. &qu...
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Posted Date : 14-Mar-2011 , 08:46:39 am | Posted By CASANSAAR
The Reserve Bank on Wednesday said it has put off implementation of its guidelines on compensation including salary for CEOs and other top executives in private and foreign banks till 2012-13. The guidelines had been due to be implemented in 2011/12 but the Reserve Bank of...
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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.
