Page-43 of RBI

RBI tightens merger rules for NBFCs

May 31, 2014

According to Reserve Bank of India (RBI), Non-Banking Financial Companies (NBFCs) to take its prior approval before buying shares of other NBFCs or for merger and acquisition with another entity. This rule will be applicable to both deposit taking and ..

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Performance ratings of Banks’ customer services to be made public from 2015

May 25, 2014

From 2015, performance ratings of Banks on customer services will be put in public domain by Banking Codes Standards Board of India (BCSBI). BCSBI is rating banks on customer services on 5 parameters: Information dissemination Transparency Customer-centricity Grievance redressal system ..

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RBI eases gold import to promote its export under its 20:80 formula

May 23, 2014

Star trading houses — big importers and exporters has been permitted by the RBI to import gold under its existing 20:80 scheme. Thus far, the facility was available to select banks only and other big entities like star trading houses were ..

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Bharatiya Mahila Bank included in second schedule to RBI Act 1934

May 23, 2014

Bharatiya Mahila Bank (BMB), India’s first all-women bank, has been included in the second schedule to the RBI Act 1934. With the inclusion in the second schedule or commercial bank category, the bank has become eligible for loans from RBI ..

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All banks need to install ‘talking ATMs” from July 1, 2014: RBI

May 22, 2014

As per the directions of the Reserve Bank of India (RBI), all banks will be required to make all new ATMs installed from July 1, 2014 as “talking ATMs” with Braille keypads. As per RBI’s guidelines to all banks: All new ATM’s installed ..

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RBI permits banks to provide loans to exporters for up to 10 years

May 21, 2014

Banks have been allowed by the RBI to give loans with tenures of up to 10 years to exporters to help them ensure capital flows to fulfil long-term contracts. As per current rules, banks are allowed to provide loans for ..

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RBI to start managing Telangana's public debt from June 2, 2014

May 21, 2014

The Reserve Bank of India (RBI) and the newly created state Telangana have inked a pact according to which the RBI shall carry on the general banking business of the Government of Telangana, manage its rupee public debt and act ..

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RBI to launch Plastic notes in 2015

May 20, 2014

As per Reserve Bank of India (RBI) Governor Raghuram Rajan, Plastic currency notes will be launched in 2015 after field trial which is likely to be conducted in the latter half of 2014. The pilot testing would be conducted in ..

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Govt should reduce its shareholding in PSBs to below 50%: RBI Committee

May 16, 2014

An RBI committee headed by former chairman of Axis Bank PJ Nayak has said in its report that the government should bring down its stake in Public Sector Banks (PSBs) to below 50%. Key Suggestions proposed by the RBI Panel:-  1) On existing ..

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RBI permits foreign branches of banks to sell derivatives not allowed in India

May 14, 2014

Foreign branches and overseas subsidiaries of Indian banks have been allowed by the RBI to sell structured financial and derivative products in established financial centres even if these products are not permitted in India. However, these products like Exchange Traded ..

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