RESERVE BANK OF INDIA

RBI

RBI Tweaks Rule: Now Get Interest Even after Fixed Deposit (FD) Matures; Details Inside

The Reserve Bank of India (RBI) on Friday in a review of rules on unclaimed deposit with banks said, customers can still earn interest rates after Term Deposit (TD) matures and proceeds are unpaid. Until now, unclaimed deposits attracted the rate of interest applicable to savings deposits in case a term deposit matured and the …

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Customer Due Diligence for transactions in Virtual Currencies (VC)

RBI Notifications: Customer Due Diligence for transactions in Virtual Currencies (VC)

Customer Due Diligence for transactions in Virtual Currencies (VC). RBI/2021-22/45DOR. AML.REC 18 /14.01.001/2021-22 May 31, 2021 All Commercial and Co-operative Banks / Payments Banks/ Small Finance Banks /NBFCs / Payment System Providers Madam / Dear Sir, Customer Due Diligence for transactions in Virtual Currencies (VC) It has come to our attention through media reports that …

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Customer Due Diligence for transactions in Virtual Currencies (VC)

RBI has given good news to Wallet and payment card users like Paytm Phonepe

The RBI has also allowed withdrawals up to Rs 10,000 every month to PPI holders with full KYC by non-banking units. The Reserve Bank of India (RBI) has good news for payment card and wallet users. The RBI has also allowed withdrawals up to Rs 10,000 every month to PPI holders with full KYC by …

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RBI bi-monthly monetary policy review: No change in repo rate, loan EMI will not increase

RBI alerts people who use NEFT for money transfer

The Reserve Bank of India (RBI) has sent an alert on Monday to those who use the National Electronic Fund Transfer (NEFT) service for online money transfer. The RBI has said in this alert that NEFT service will not be available for 14 hours on May 23. The central bank has said in its statement …

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RBI

RTGS Service will be Unavailable for 14 Hours on 18th April 2021

The Reserve Bank of India (RBI) has issued a Press Release to inform that: A technical upgrade of RTGS, targeted to enhance the resilience and to further improve the Disaster Recovery Time of the RTGS system, is scheduled after the close of business of April 17, 2021. Accordingly, RTGS service will not be available from …

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RBI PANEL RECOMMENDS LARGE NBFCS, WITH ASSET SIZE OF 500B RUPEES & ABOVE MAY BE CONSIDERED FOR CONVERSION INTO BANKS AFTER 10 YRS OF OPS

RBI PANEL RECOMMENDS LARGE NBFCS, WITH ASSET SIZE OF 500B RUPEES & ABOVE MAY BE CONSIDERED FOR CONVERSION INTO BANKS AFTER 10 YRS OF OPS

RBI releases the Report of the Internal Working Group to Review Extant Ownership Guidelines and Corporate Structure for Indian Private Sector Banks The Reserve Bank of India had constituted an Internal Working Group (IWG) on June 12, 2020 to review extant ownership guidelines and corporate structure for Indian private sector banks. The Terms of Reference …

RBI PANEL RECOMMENDS LARGE NBFCS, WITH ASSET SIZE OF 500B RUPEES & ABOVE MAY BE CONSIDERED FOR CONVERSION INTO BANKS AFTER 10 YRS OF OPS Read More »

RBI

Reserve Bank of India places Lakshmi Vilas Bank Ltd
under moratorium

Withdrawals from this bank have been capped at Rs. 25,000 per month till further order. If you want to withdraw more than Rs. 25,000 for purposes such as medical treatment, payment of higher education and marriage expenses, you have to take permission of the Reserve Bank of India. You May Also Like : Tax Concept is …

Reserve Bank of India places Lakshmi Vilas Bank Ltd
under moratorium
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RBI

RBI asks lending institutions to implement waiver of interest on interest scheme

The Reserve Bank has asked all lending institutions to credit the interest waiver on loans up to two crore rupees for the six months moratorium period beginning March 1, 2020. The government announced the scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified …

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RBI asks HDFC to stop new digital business launches and avoid adding new Credit Card customers

RBI to conduct first-ever Open Market Operation purchase of State Developments Loans on October 22

Reserve Bank of India will conduct its first-ever Open Market Operation (OMO) purchase of State Developments Loans (SDLs) on 22nd October. The OMOs worth ten thousand crore rupees will be conducted as a special case during the current financial year with an aim to improve liquidity and facilitate efficient pricing. The size of the auctions …

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Reserve Bank of India reallocates portfolios of deputy governors

Reserve Bank of India has reallocated portfolios of deputy governors, with the department of regulation entrusted to the newly-appointed M Rajeshwar Rao. Besides the department of regulation, Mr Rao will look after the departments of communication, enforcement legalities among others. Mr Rao was appointed to the post vacated by NS Vishwanathan, who stepped down three …

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RBI to discontinue system-based automatic caution-listing of exporters

RBI to discontinue system-based automatic caution-listing of exporters In an effort to provide flexibility to exporters in the realisation of export proceeds, the Reserve Bank has decided to discontinue the system-based automatic caution-listing of exporters. Addressing a virtual press conference today, RBI Governor Shaktikanta Das said the decision will also empower exporters to negotiate better …

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