Page-28 of Finance
IBBI notifies two regulations
Insolvency and Bankruptcy Board (IBBI) of India have notified two Regulations- the IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 and IBBI (Insolvency Professional Agencies) Regulations, 2016. The regulations have been notified by the IBBI in exercise ..
RBI proposes ‘Islamic Window’ in Banks
The Reserve Bank of India (RBI) has come up with a proposal for opening of ‘Islamic window’ in conventional banks for a gradual introduction of Sharia-compliant (interest-free) banking in the country. The move is aimed to ensure financial inclusion of ..
Government releases modified draft Bill to check the menace of Ponzi schemes
The government has released the revised Draft ‘Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill, 2016’ to crack down on Ponzi and illegal deposit schemes to protect the interests of depositors and the connected matters. Key facts ..
Ujjivan Small Finance Bank receives final license from RBI
Ujjivan Small Finance Bank Ltd, a subsidiary of Ujjivan Financial Services Ltd has received the final licence from Reserve Bank of India (RBI) to commence its banking operations. With this, the Ujjivan Small Finance Bank became the fourth entity to ..
Union Cabinet approves advancement of the Budget presentation
The Union Cabinet has given in principle approval for advancement of the date of Budget presentation from the last day of February to a suitable date. Besides in another reform relating to budgetary process, Union Cabinet has approved merger of ..
Month: Current Affairs - September, 2016
RBI and RTI: Recent Supreme Court Judgement
On December 16, the Supreme Court of India said that RBI cannot reject the plea asking information regarding private and public banks under the Right to Information (RTI) Act. While considering the several appeals filed by the RBI against various ..
RBI suspended licence of seven non-banking finance companies (NBFCs)
On 17 August the Reserve Bank of India (RBI) suspends licence of seven non-banking finance companies (NBFCs). The seven NBFCs whose licences were suspended are – Religare Finance, Artisans Micro Finance, Eden Trade & Commerce, RCS Parivar Finance, Nott Investments, ..
Month: Current Affairs - August, 2015
Pramerica Mutual Fund has acquired Deutsche MF business in India
Mutual Fund sector witnessed fifth exit of foreign fund house in two years from India on 7 August, as Pramerica Mutual Fund (MF) a company affiliated to US based Prudential Financial Inc. buys out German Deutsche Bank Group’s MF business ..