RBI

The Reserve Bank of India (RBI) on recently ordered the urban cooperative banks (UCBs) to report exposures of ₹5 crore or more to a central repository, within a month of end-of-quarter. “The banks need to submit the data on large exposures within 30 days from the end of the quarter through XBRL reporting platform of … Read more RBI told Urban Cooperative Banks to Report Credit of 5 Crore Rupees and above

On thursday, RBI changed the KYC norms which allows banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP) This step will help them to reach the customers remotely. The V-CIP, which will be consent-based, will make it now even more easy for all the institutions and the banks … Read more RBI introduced video based KYC process

The RBI believes India can achieve big and create some better global banking majors if the ongoing mergers of state-owned banks achieve show the desired impact of creating stronger and well-capitalised lenders of global scale. Currently, In the list of top 50 of the world, India’s Banks are not listed. Since 2008 global financial breakdown, … Read more RBI is positive about Bank Merger

It seems that the apex bank of India RBI is now done with easing, swaps the market show. RBI is the most aggressive bank amongst t all the asian banks in slashing the borrowing costs in 2019. Recently RBI shocked the market by not changing the rates this time, when it has already cut the … Read more RBI may be done with Rate cuts

RBI Deputy Governor MK Jain on Wednesday propsed that the incentivising banks should extend loans to poor in backward areas in a bid to promote financial inclusion. In an event which was organised by the National Bank for Agriculture and Rural Development (NABARD), MK Jain said despite the growth which can be seen in formal … Read more Banks may get incentives to extend loans of backward areas: RBI by GUV MK Jain

The Reserve Bank of India (RBI) announced some measures to push the online transactions in India. It includes the removal of charges on Online fun transfer system National Electronic Funds Transfer (NEFT), introducing interoperable system such that FASTags, which you can use to pay the fuel, parking or any other kind of fees. The Reserve … Read more RBI announced measures to push Online transactions

In the last five years, more than 3400 branches of 26 public sector bancks have been merged or closed. All these was because of merger under consolidation scheme. Revealed by RTI enquiry. A greater part of it, which is 75% of these mergers and closures are of the biggest bank of India which is State … Read more RTI: Public Sector Banks Merged or closed in last 5 years

The panel which has been set up by the Reserve bank of India has recently suggested that the core investment companies need stronger corporate governance practices, which includes the formation of the board-level committees, internal audits and the appointment of the independent directors. These recommendations were submitted by the WG (working group) to Review the … Read more RBI Bank Suggested stronger corporate governance in core investment companies

RBI has recently penalised the Gujarat Based Mehsana Urban Co-operative Bank for contravention of norms on ‘loans and advances to directors, relatives and firms/concerns in which they are interested’. It said that the penalty was imposed through an order. The central bank, after the statutory inspection on March 2018 said that the penalty was “for … Read more RBI penalized Mehsana’s Gujarat Based Urban Co-operative bank