The Reserve Bank of India

RBI cancels registrations of six NBFCs.

RBI Barred CA Firm M/s Haribhakti & Co. LLP From Undertaking Audit Assignments Reguled by the RBI wef 1st April 2022

The Reserve Bank of India (RBI) in exercise of the powers vested under section 45MAA of the Reserve Bank of India Act, 1934, has, by an order dated September 23, 2021, debarred M/s Haribhakti & Co. LLP, Chartered Accountants (ICAI Firm Registration No. 103523W / W100048), from undertaking any type of audit assignment/s in any …

RBI Barred CA Firm M/s Haribhakti & Co. LLP From Undertaking Audit Assignments Reguled by the RBI wef 1st April 2022 Read More »

s you are aware, the Reserve Bank of India has a mandate to issue banknotes and the banks are fulfilling this mandate by dispensing banknotes to the public through their wide network of branches and ATMs. In this connection, a review of downtime of ATMs due to cash-outs was undertaken and it was observed that ATM operations affected by cash-outs lead to non-availability of cash and cause avoidable inconvenience to the members of the public.

Big Relief to the Citizens: Now Banks will Face Flat Penalty of Rs 10000 Per ATM If Cash is Unavailable at ATMs for More Than Ten Hours in a Month

Scheme of Penalty for non-replenishment of ATMs Objective of the Scheme The Scheme of Penalty for non-replenishment of ATMs has been formulated to ensure that sufficient cash is available to public through ATMs. Effective Date The Scheme shall be effective from October 01, 2021. Therefore, banks/ WLAOs should put in place a robust system for …

Big Relief to the Citizens: Now Banks will Face Flat Penalty of Rs 10000 Per ATM If Cash is Unavailable at ATMs for More Than Ten Hours in a Month Read More »

RBI

Must Read: RBI Revises Regulatory Restrictions Related to Loans and Advances

RBI/2021-22/72 DOR.CRE.REC.No.33/13.03.00/2021-22 July 23, 2021 All Scheduled Commercial Banks (excluding RRBs) All Small Finance Banks All Local Area Banks Madam / Dear Sir, Loans and Advances – Regulatory Restrictions Please refer to paragraphs 2.2.1.2, 2.2.1.4 and paragraph 2.2.1.5 of Master Circular on Loans and Advances – Statutory and Other Restrictions dated July 01, 2015. On …

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RBI

RBI Asks Banks to Send Employees on 10-Day Surprise Mandatory Leave

The Reserve Bank of India (RBI) has asked banks to compulsorily send employees posted in sensitive areas of operation on ‘mandatory leave’ for a few days (not less than 10 working days). This has to be done without giving the employees any prior intimation, as per the RBI circular. This is being done as per …

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HDFC BANK

Analysis | Under Sashidhar Jagdishan, HDFC Bank is Fighting Two Enemies Simultaneously

A closer look at the first quarter (April-June) numbers of India’s largest private lender shows that the resurgence of COVID-19 has taken a toll on its books. Business growth has slowed down. There is abundant caution over the selection of new loans, including retail assets. On the other hand, the Reserve Bank of India (RBI) audit on …

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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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RBI

Financial Stability Report, July 2021 released by RBI: Highlights

The Reserve Bank released the 23rd issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system in the context of contemporaneous issues relating to development and regulation of the financial …

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Shaktikant Das

RBI unveils liquidity support measures to battle Covid second wave

The Reserve Bank of India, today introduced on tap liquidity of Rs 50,000 crore at repo rate under which banks can support healthcare stakeholders like vaccine makers, hospitals as well as patients till March 31, 2022. RBI Governor, Shaktikant Das said that banks are being incentivised to sanction these loans under Priority Sector Classifications, and …

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RBI

Rabi Sankar appointed as Deputy Governor of RBI

On Monday, T Rabi Sankar took over the charge of Deputy Governor of RBI for a period of three years. He was earlier the Executive Director of the central bank, looking after the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech and the Risk Monitoring Department. His areas of expertise include …

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RBI

RBI Governor meets MDs and CEOs of NBFC- Micro Finance Institution

The Reserve bank of India Governor, Mr. Shaktikanta Das on Monday met Managing Directors (MD) and Chief Executive Officers of Non- Banking Financial Company- Micro Finance institution (NBFC- MFI) via video conference. The meeting was attended by Deputy Governors M K Jain and Dr M D Patra and a few other senior officials of RBI. …

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