Category Archives: RBI

What to Check before depositing your money in any Scheme ?

By | August 6, 2016

1. Which entities are authorised to raise deposits from public? The entities authorised to accept deposits are given in the table as below: Sr. No. Category Regulator Additional Comments 1 Commercial and Cooperative Banks Reserve Bank of India (RBI) All Commercial and Co-operative Banks are entitled to accept deposits 2 Non-Banking Finance Companies (NBFCs) RBI… Read More »

RBI new website ‘ सचेत ‘ -Sachet- to stop Illegal Collection of Deposits

By | August 6, 2016

Date : Aug 04, 2016 RBI Governor launches Website ‘सचेत‘ to curb Illegal Collection of Deposits “Initiating quick follow up and taking cases to logical conclusion by punishing the guilty is paramount to deter entities in future from carrying out unlawful activity. I hope ‘Sachet’ would help regulators in doing this as much as it… Read More »

Govt fixed Inflation Target of 4% & tolerance level

By | August 5, 2016

Statutory and Institutionalised framework for Monetary Policy; Central Government in consultation with RBI announces the Inflation Target of Four Percent The Finance Minister had announced in his Budget Speech for 2016-17 the Government’s intention to amend the Reserve Bank of India Act, 1934 (RBI Act) to provide for a statutory and institutionalised framework for a… Read More »

Interest Subvention Scheme -Union Budget – 2016-17 : RBI Guidelines

By | August 4, 2016

RBI/2016-17/32 FIDD.CO.FSD.BC.No 9/05.02.001/2016-17 August 4, 2016 To, The Chairman / Managing Director All Public & Private Sector Scheduled Commercial Banks Dear Sir/Madam Union Budget – 2016-17 Interest Subvention Scheme As directed by the Government of India and in pursuance of the budget announcement relating to the Interest Subvention Scheme 2016-17 (the Scheme) it is advised… Read More »

Dishonour of cheques – RBI Modified procedure

By | August 4, 2016

RBI/2016-17/33 DBR.No.Leg.BC.3/09.07.005/2016-17 August 04, 2016 All Scheduled Commercial Banks (Including RRBs) Dear Sir/ Madam, Dishonour of cheques – Modification in procedure Please refer to our circular DBOD.BC.Leg.No.113/09.12.001/2002-03 dated June 26, 2003 and paragraph 11.4 (i) of RPCD.CO.RRB.BC.No.100/03.05.33/2013-14 dated May 12, 2014 wherein banks were advised to introduce a condition for operation of accounts with cheque… Read More »

RBI Guidelines on Ind AS for All-India Term Lending and Refinancing Institutions(AIFIs)

By | August 4, 2016

RBI/2016-17/34 RBI/2016-17/DBR.FID.No. 1/01.02.000/2016-17 August 04, 2016 All India Financial Institutions (Exim Bank, NABARD, NHB and SIDBI) Madam / Dear Sir, Implementation of Indian Accounting Standards (Ind AS) The Ministry of Corporate Affairs (MCA), Government of India has notified the Companies (Indian Accounting Standards) Rules, 2015 on February 16, 2015. A reference is also invited to… Read More »

RBI Guidelines for ‘ on tap ‘ Licensing of Universal Banks in Private Sector

By | August 1, 2016

The Reserve Bank of India today released on its website, “Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector”. Date : Aug 01, 2016 Some of the key aspects of the Guidelines include: (i) resident individuals and professionals having 10 years of experience in banking and finance at a senior level are… Read More »

Retail Participation by Demat Account Holders in Govt. Securities Market: Access to NDS-OM Platform

By | July 28, 2016

RBI/2016-17/30 Ref No. FMRD.DIRD.3/14.03.07/2016-17 July 28, 2016 To All eligible market participants Retail Participation by Demat Account Holders in the Government Securities Market: Access to NDS-OM Platform As announced in the First Bi-monthly Monetary Policy Statement, 2015-16, an Implementation Group with representation from all the stakeholders was constituted to recommend specific measures to enable seamless… Read More »

Category: RBI

RBI revised reporting format for Half yearly/Quarterly Review of Public Sector Banks

By | July 28, 2016

RBI/2016-17/29 Ref.DBS.ARS.No.BC.2/08.91.001/2016-17 July 28, 2016 All Public Sector Banks Dear Sir/Madam, Half yearly/Quarterly Review of Accounts of Public Sector Banks Please refer to our circular DBS.ARS.No.BC.17/08.91.001/2002-03 dated June 5, 2003 on conduct of Half yearly/Quarterly Review of Accounts of Public Sector Banks. 2. The reporting format has been revised as per the annex. You may,… Read More »

Guidelines for areas affected by Natural Calamities extended to NBFCs

By | July 28, 2016

RBI/2016-17/28 DNBR (PD) CC.No.083/03.10.001/2016-17 July 28, 2016 All Non-Banking Financial Companies Madam/ Sir, Guidelines for Relief Measures by NBFCs in areas affected by Natural Calamities The Reserve Bank has issued guidelines to banks in regard to matters relating to relief measures to be provided in areas affected by natural calamities videFIDD.No.FSD.BC.52/05.10.001/2014-15 dated March 25, 2015,… Read More »

Category: RBI