Page-45 of RBI

RBI suspended licence of seven non-banking finance companies (NBFCs)

August 18, 2015

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, ..

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RBI allows banks to merge, shift or close branches in urban areas

August 7, 2015

Reserve Bank of India (RBI) has taken decision to allow banks to merge, shift or close branches in urban areas on their own discretion. In this regard, RBI has issued a notification that mention detailed provisions of above decisions. This ..

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RBI to issue Rs 10 coins to mark International Yoga Day

July 31, 2015

Reserve Bank of India (RBI) will soon issue 10 rupee denomination coins to commemorate International Yoga Day which is being observed every year on 21 June. Features of the coin Coin’s obverse side: It will bear Lion Capital of Ashoka ..

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IDFC gets banking licence from RBI

July 27, 2015

Infrastructure Development Financing Company (IDFC). Ltd became second lender to enter the banking sector since 2004, as the Reserve Bank of India granted Banking licence on 24 July 2015. It was Yes Bank that got banking licence in 2004. However, ..

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RBI, Central Bank of Sri Lanka ink currency swap agreement

July 17, 2015

Reserve Bank of India has signed a special currency swap agreement with the Central Bank of Sri Lanka (CBS). Under this agreement, Sri Lankan bank can draw up to 1.1 billion dollars for a maximum period of 6 months.  It ..

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RBI constitutes Deepak Mohanty Committee to frame action plan on financial inclusion

July 16, 2015

Reserve Bank of India (RBI) has constituted a committee to prepare a 5 year action plan to spread the reach of financial services across country to unbanked population. The committee will be headed by RBI executive director Deepak Mohanty and ..

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RBI extends deadline for exchanging pre-2005 currency notes till December 2015

June 26, 2015

The Reserve Bank of India (RBI) has extended the date to exchange pre-2005 bank notes till December 31, 2015 for third time. Earlier in December 2014, RBI had set the last date for public to exchange these notes as June ..

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RBI allows NRIs to subscribe chit funds

June 12, 2015

Reserve Bank of Indian has allowed non-resident Indians (NRIs) to invest in chit fund to encourage flow of capital into the country. Decision in this regard was taken after RBI had revised the extant guidelines for subscription to the chit ..

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