Page-27 of RBI

RBI limits Customer liability in Online Banking

July 7, 2017

RBI has issued directions on ‘Customer Protection – Limiting Liability of Customers in unauthorised Electronic Banking Transactions’. RBI has issued the revised directions amidst a recent increase in customer grievances related to unauthorised transactions. Salient Highlights The following are the salient highlights of the revised directions: If the ..

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RBI: Fiscal Deficit of States Soars to Rs 4.93 trillion in FY16

June 24, 2017

According to ‘Handbook of Statistics on States 2016-17‘, the gross fiscal deficits of all the states have soared to Rs 4,93,360 crore in fiscal 2016 from Rs 18,790 crore in FY1991. This is the second edition of RBI’s statistical publication. Salient ..

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Union Cabinet approves Interest Subvention on Short-Term Crop Loan to Farmers

June 14, 2017

The Union cabinet has approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18. The Government has allocated Rs. 20,339 crore for this scheme. Salient Highlights The objective of the scheme is to make available agricultural credit for Short Term ..

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RBI identifies 12 Bank Accounts accounting 25% of NPAs to initiate Bankruptcy Proceedings

June 14, 2017

RBI’s Internal Advisory Committee (IAC) has identified 12 bank accounts constituting nearly 25% of the gross bad loans for immediate referral and resolution under the bankruptcy law. Each of the 12 identified accounts was having more than 5,000 crore rupees of outstanding ..

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RBI to release New batch of Rs 500 Currency Notes

June 13, 2017

Reserve Bank of India has said that it will release new batch of Rs 500 currency notes whose design will be similar in all respects to the Rs 500 rupee banknotes of the Mahatma Gandhi (New) Series which were released ..

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India's Forex Reserves reach Life Time High of $381.167 billion

June 10, 2017

According to RBI, India’s foreign exchange (Forex) reserves have increased by $2.404 billion to touch a lifetime high of $381.167 billion in the week that ended on June 2. The increase was due to increase in foreign currency assets (FCAs). Components The components of ..

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RBI Keeps the Repo Rate Unchanged

June 7, 2017

The Reserve Bank of India has kept repo rate unchanged at 6.25% in its second bi-monthly monetary policy review. Reverse Repo rate has been kept unchanged at 6%. The RBI has cut the Statutory Liquidity Ratio (SLR) by 50 basis points to ..

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RBI to introduce New Re.1 Note

May 30, 2017

The Reserve Bank of India has announced that new one rupee note has been printed by the government and will be soon put into circulation. The one rupee note was discontinued in 1994 because it was more expensive to produce such notes when compared to ..

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RBI to Reconstitute Oversight Committee to Tackle Bad Loans

May 23, 2017

The Reserve Bank of India is set to reconstitute Oversight Committee to operationalise the banking ordinance, which was recently cleared by the Union Cabinet to amend the Banking Regulation Act for the sake of giving more powers to Reserve Bank ..

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Forex Reserves reach Life-Time High of $375.71 billion

May 13, 2017

According to RBI, India’s foreign exchange (Forex) reserves have increased by  $2.985 billion to touch a lifetime high of $375.71 billion in the week that ended on May 5. The increase was due to increase in foreign currency assets (FCAs). The reserves had increased by $2.474 ..

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