Page-39 of RBI
RBI releases final guidelines for the Bharat Bill Payment System (BBPS)
Reserve Bank of India issued the final guidelines for the Bharat Bill Payment System (BBPS). It is an integrated bill payment system offering inter-operable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, ..
Month: Current Affairs - November, 2014
Inflation drops to 2.38% , five-year low
According to provisional estimates for the month of September 2014, WPI (Wholesale Price Index) based inflation has fallen to 2.38% which is a five year low. This is mainly attributed to the decline in food and fuel prices. Also, the ..
Month: Current Affairs - October, 2014
RBI keeps all key rates intact in fourth bi-monthly monetary policy
The RBI announced its fourth bi-monthly monetary policy on September 30, 2014. This follows the third bi-monthly monetary policy which was announced in August 2014. CRR The CRR of scheduled was kept unchanged at 4% of the bank’s NDTL (net ..
Month: Current Affairs - October, 2014
RBI gets tough; says, if a company is unable to repay then that could lead to other group units and management being termed ‘wilful defaulters’
RBI in order to put intense pressure on businessmen, whose companies default in future, has intensified wilful defaulter rules. Now if a company is unable to repay then that could lead to other group units and management being termed ‘wilful ..
Month: Current Affairs - September, 2014
RBI sets upper age limit for private bank CEOs at 70
The RBI brought relief for investors in HDFC Bank and IndusInd Bank, who have been anxious about the destiny of their celebrated chiefs who have provided massive returns in the past few years. Full-time directors of Pvt. banks can now ..
Month: Current Affairs - September, 2014
“Willful defaulter tag is a powerful weapon in hands of banks for resolving bad loans”: RBI Governor
“The wilful defaulter tag is a powerful weapon in the hands of creditors for resolving distressed assets. It shuts out access to credit within the Indian financial system for a borrower,” Rajan stated without naming Vijay Mallya, who was recently ..
Month: Current Affairs - September, 2014
RBI notifies "Implementation of Basel III Capital Regulations in India – Amendments"
With reference to the ‘Guidelines on Implementation of Basel III Capital Regulations in India’ issued vide circular DBOD.No.BP.BC.98/21.06.201/2011-12 dated May 2, 2012, RBI has now notified some amendments to this Circular and these guidelines along with subsequent amendments have been ..
Month: Current Affairs - September, 2014
Disposal of loan proposals should be time-bound: RBI
In order to speed up the process of credit decision, the RBI has asked banks to set up a timeline for clearance of loan proposals, but did not assign a specific time frame for the same. RBI in its notification ..
Month: Current Affairs - September, 2014
Overseas payment gateway for credit card transactions within India is now closed: RBI
The RBI has shut the overseas payment gateway for credit card transactions within India, saying that the rules need to be followed with respect to e-commerce credit card transactions “essentially taking place between two residents in India”. This means that firms such ..
Month: Current Affairs - August, 2014
RBI board approves radical changes, introduces COO post as proposed by Raghuram Rajan
In a bid to introduce radical changes in the functioning of the Reserve Bank of India, the RBI board has approved Governor Raghuram Rajan’s proposal of shrinking organizational cumbersomeness and reducing overlaps. It also seeks to create the post of ..