Page-50 of RBI
RBI proposes new capital rules for D-SIBs (banks too-big-to-fail)
To safeguard the financial system from any possible crisis situation where large financial institutions faltered due to loss of confidence in the financial system, the Reserve Bank of India (RBI) released the draft report to introduce increased capital requirements by ..
Month: Current Affairs - December, 2013
Gross NPAs touched Rs. 2.9 lakh crore by March: ICRA
Investment Information and Credit Rating Agency (ICRA) warned the banking industry that it may suffer more shocks due to the pile up of its’ gross bad assets which is set to touch 4.4 %, or Rs 2.9 trillion of total ..
Month: Current Affairs - December, 2013
RBI relaxes ECB norms for infrastructure firms
The Reserve Bank of India (RBI) relaxed External Commercial Borrowing (ECB) norms for companies raising foreign funds for infrastructure projects. As per the relaxation given by the central bank, firms can now raise funds through the ECB route for their ..
Month: Current Affairs - December, 2013
RBI makes punching PIN mandatory for debit card transactions done every time
With an aim to minimize frauds, RBI has made it mandatory for debit card holders to punch in their PIN numbers every time they use the card. In June 2013, the central bank had extended the deadline for implementation of ..
Month: Current Affairs - December, 2013
RBI permits banks to pay interest at shorter intervals
RBI has decided allow banks decide on the periodicity of interest payment on rupee savings and term deposits keeping in view that the banks are functioning on core banking platform. Banks are now allowed to pay interest on rupee savings ..
Month: Current Affairs - December, 2013
Medium enterprises to be included under priority sector: RBI
As per the Reserve Bank of India, the incremental bank loans to medium service enterprises (as defined in the Micro, Small and Medium Enterprises Development Act, 2006) provided after November 13, 2013, up to the credit limit of Rs 10 ..
Month: Current Affairs - December, 2013
No capital gains tax or stamp duty on foreign banks converting to WoS
As per a notification by the Reserve Bank of India (RBI), the conversion of existing foreign bank branches into Wholly-owned Subsidiaries (WoS) in India will not be liable to capital gains tax or stamp duty. The central bank clarified that ..
Month: Current Affairs - December, 2013
RBI relaxes group limit for NBFCs in insurance joint ventures
RBI has decided to consider a case-to-case basis relaxation of the 50% group limit norm for NBFCs (Non-Banking Finance Companies) in the equity of insurance joint venture (JV). As per the norms of IRDA (Insurance Regulatory and Development Authority), if ..
Month: Current Affairs - November, 2013
RBI directs banks to charge for SMS alerts on actual usage basis
As per a notification by the Reserve Bank of India (RBI), banks have been directed charge customers for transaction SMS alerts on the basis of usage, instead of imposing a fixed fee. The central bank has advised all the banks to ..
Month: Current Affairs - November, 2013
RBI extends infrastructure sector lending sub-category to include hotels and convention centres
As per a notification released by the Reserve Bank of India, the definition of infrastructure lending has been extended to include hotels with project costing more than Rs. 200 crore anywhere in India and of any star rating as well as convention ..