Mar 29, 2016 The Reserve Bank of India today clarified some of the provisions of Reserve Bank of India (Interest Rate on Advances) Directions, 2016 (hereinafter called the Directions) relating to the Marginal Cost of Funds based Lending Rate (MCLR) system which comes into effect on April 01, 2016. The changes are: 1. Fixed Rate… Read More »
RBI cancels Certificate of Registration of 22 NBFCs Mar 29, 2016 The Reserve Bank of India (RBI) has cancelled the certificate of registration of the 22 (twenty two) non-banking financial companies (NBFCs) as shown in Annex, in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act,… Read More »
Issue of ₹ 1 denomination currency notes with Rupee symbol (₹) and the inset letter ‘L’ The Reserve Bank of India will soon put into circulation currency notes in one rupee denomination. The notes have been printed by the Government of India. These currency notes are legal tender as provided in The Coinage Act… Read More »