INR 2000 can be demonetised- Subhash Chandra Garg

As we know that two years back, demonetisation took place in our country and everything changed totally. And now. The demonetizing Rs 2000 notes can be done and this suggestion is given by the former Finance Secretary Mr Subhash Chandra Garg on Thursday. Mr Garg said- the high debt levels are “a deterrent on our credit … Read more INR 2000 can be demonetised- Subhash Chandra Garg

RBI announced measures to push Online transactions

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

Categories RBI

RBI amended Rules for salaries of private bank directors

Reserve Bank of India has issued the revised guidelines for the salary given to the Bank executives and whole-time directors at the private banks to reduce the risks which disturb the financial structure of the organisations and to keep the governance in check. Private sector banks, foreign banks operating under the wholly-owned subsidiary mode, and … Read more RBI amended Rules for salaries of private bank directors

RBI Bank Suggested stronger corporate governance in core investment companies

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

Categories RBI

RBI penalized Mehsana’s Gujarat Based Urban Co-operative bank

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

Categories RBI

RBI Asked Banks to investigate the report on leaked debit and credit card information

The Reserve Bank of India (RBI) has issued a notice for the banks asking them to investigate the reports that shows that 1.3 million accounts of the debit and credit card customers were online on sale and to ensure that these details are safe. As per the news by ZDNet, RBI has also said that … Read more RBI Asked Banks to investigate the report on leaked debit and credit card information

RBI rejected proposal of merger of Lakshmi Vilas Bank with Indiabulls housing finance

Laskshmi Vilas bank announced that the Central bank has not given any approval on its mereger with Indiabulls finance limited. The Lakshmi Vilas Bank (LVB) said in a stock exchange filing, “This is to inform that RBI vide their letter dated October 09, 2019, informed that the application for voluntary amalgamation of lndiabulls Housing Finance … Read more RBI rejected proposal of merger of Lakshmi Vilas Bank with Indiabulls housing finance

RBI increased the Withdrawal Limit for the PMC Customers

For the relief of the crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank customers, the Reserve Bank of India has now increased withdrawal limit from Rs 1,000 to Rs 10,000. “Other terms and conditions of the said Directive shall remain unchanged. With the above relaxation, more than 60% of the depositors of the Bank will be … Read more RBI increased the Withdrawal Limit for the PMC Customers