Page-57 of RBI

RBI defines term ‘control’, notifies FDI guidelines

July 7, 2013

The Reserve Bank of India (RBI) has notified Foreign Direct Investment (FDI) guidelines pending for past four years as Press notes 2 and 3 of the Department of Industrial Policy and Promotion will be used to ensure that foreign direct investments comply ..

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Fact Box: White Label ATMs

June 29, 2013

RBI gives nod to Muthoot Finance to set up White Label ATMs Indian gold loan company Muthoot Finance Ltd has obtained the RBI’s in-principle approval to set up the white label ATMs,as the government seeks to take financial services to the ..

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Rupee hits record low against dollar, plunges below 60 mark

June 29, 2013

The Indian rupee today ranked by a massive 105 points to close at a historic low of 60.71 against the dollar. The Indian Rupee declined below the 60 mark breaking the previous record low of 59.98 hit. The slump is being attributed to ..

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RBI auctions Inflation Indexed Bonds

June 26, 2013

The government has announced the sale of 1.44% ‘Inflation-Indexed government stock 2023’ for a notified amount of Rs.1,000 crore through price-based auction on June 25, 2013. The results of the auction, to be conducted using the uniform price method by the Reserve Bank of ..

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RBI extends deadline for banks to implement card security features

June 26, 2013

The RBI has provided the banks more time for introduction of additional security features for payment through debit and credit cards as banks and related entities had yet to put in place the requisite infrastructure.  The new deadline for banks ..

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RBI relaxed ECB norms for low cost housing projects

June 26, 2013

The RBI has eased the External Commercial Borrowing (ECB) norms for affordable housing projects by withdrawing the minimum capital requirement, and lowering total experience to three years, while extending the scheme till next financial year. As per RBI notification: Developers ..

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RBI leaves key policy rate unchanged

June 19, 2013

The Reserve Bank of India (RBI) has left the key policy rate, the repo rate, untouched at 7.25% in its June mid-quarter monetary policy. Cash Reserve Ratio (CRR), stood at 4%. Repo is the rate at which banks borrow from ..

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Government raises foreign investment limit in G-secs by $5 billion

June 15, 2013

In a move that would encourage foreign portfolio investment in Indo, the Government hiked the investment limit for foreign portfolio investors in government bonds by $5 billion to $30 billion. However, the enhanced limit of $5 billion will be available ..

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Banks to audit documents of credits of Rs 5 Crore and above periodically: RBI

June 11, 2013

As per the directions made by RBI, Banks will have to do periodical audits and re-verification of the documents of all credits of and above Rs 5 crore, till the loan is completely repaid. The instructions have been made in ..

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RBI will intervene in forex market to prevent instability

June 11, 2013

RBI has said that it doesn’t target any exchange rate but it will intervene in the Forex market to only to curb volatility and prevent disruption of macroeconomic stability. The statement has come amid weakening of Rupee as it declines ..

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