Page-38 of RBI

RBI doubles cap on PPIs to Rs. 20,000

November 23, 2016

The Reserve bank of India (RBI) has increased the per month limit of Prepaid Payment Instruments (PPIs) to Rs. 20,000 from Rs. 10,000 and to Rs. 50,000 for merchant bank. This decision was taken due to sudden increase in demand ..

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RBI proposes Islamic window in conventional banks

November 21, 2016

The Reserve Bank of India (RBI) has proposed the opening of Islamic window in conventional banks for gradual introduction of Sharia-compliant or interest-free banking in the country. In this regard, RBI has also prepared a technical analysis report and submitted ..

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Special Task Force led by SS Mundra formed to recalibrate ATMs

November 15, 2016

The Reserve Bank of India (RBI) has formed Special Task Force to speed up the process of recalibration of automated teller machines (ATM) to dispense the new denomination notes. The Special Task Force will be headed by S.S Mundra, Deputy ..

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RBI issues clarifications on Hedging for External Commercial Borrowings

November 10, 2016

The Reserve Bank of India (RBI) has issued the Clarifications on hedging for External Commercial Borrowings (ECB) in a bid to effectively address currency risk at the systemic level. The Clarifications were issued by RBI under section 10(4) and 11(1) ..

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RBI issues new series of Rs 500 and Rs 2,000 currency notes

November 9, 2016

The Reserve Bank of India (RBI) has issued new series of notes for 500 rupees and 2,000 rupees denomination with improved features and newer sizes. These new series of notes was issued following Prime Minister Narendra Modi’s announcement that Rs ..

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Rs. 500, Rs. 1,000 notes no longer legal tender

November 8, 2016

The Union Government has announced that Rs. 500, Rs. 1,000 notes will cease to be legal tender. It was announced by Prime Minister Narendra Modi in a surprise address to nation. The demonetisation drive of these two currency units was ..

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RBI appoints M Rajeshwar Rao as new Executive Director

November 7, 2016

The Reserve Bank of India (RBI) has appointed M Rajeshwar Rao as Executive Director (ED) following voluntary retirement of G Mahalingam. In his new role, Mr. Rao will look after Department of Statistics and Information Management, Financial markets Operations Department ..

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HCC becomes first firm to get debt recast under RBI’s S4A Scheme

November 6, 2016

Construction major Hindustan Construction Company (HCC) became India’s first firm to get debt recast under RBI’s new Scheme for Sustainable Structuring of Stressed Assets (S4A). The RBI-mandated Overseeing Committee (OC) under the S4A has approved HCC’s Rs. 5,000-crore debt recast ..

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