Search Results for Tag : Banking
Judgments
No necessity for complaint to aver actual date of service of notice against dishonoured cheque(17.08.2015)
If the complaint contains the date of issuance of registered notice, merely not containing the date of receipt of information from the bank regarding .....
Tags : Banking, cheque, date of service, notice
Top Story
RBI issues direction limiting customer liability in online banking(06.07.2017)
RBI has issued direction limiting liability of customers due to recent increase in customer grievances related to unauthorised transactions. Direction.....
Tags : Limited liability, Online Banking, Directions
PM launches India Post Payments Bank(01.09.2018)
The Prime Minister launched the India Post Payments Bank (IPPB). The initiative would enable banking services to reach the remotest places in the coun.....
Tags : Banking services, IPPB, Launch
News
SC: NBFCs Cannot be Regulated by State Enactments(11.05.2022)
Supreme Court has ruled that state laws cannot govern Reserve Bank of India-regulated non-banking financial companies (NBFCs). The top court stated th.....
Tags : Supreme Court, Non-banking financial companies, Reserve Bank of India
NCDRC: Bank Liable for Fraudulent Online Transaction if Account Holder's Fault Not Proved(11.01.2021)
National Consumer Disputes Redressal Commission (NCDRC) has held that in case of fraudulent transactions leading to withdraw of money from a person's .....
Tags : National Consumer Disputes Redressal Commission, Fraudulent Online Banking Transaction
SC Issues Notice on Swamy's Plea for Probing RBI Official in Bank Scams(18.10.2022)
Supreme Court has agreed to examine BJP leader Dr Subramanian Swamy's plea seeking a probe into the alleged role of Reserve Bank of India (RBI) offici.....
Tags : Supreme Court, probe, Reserve Bank of India, banking scams
SC: NBFC & Leasing Co. Not Liable to Pay Interest Tax on Installments Under Hire Purchase Agreement(05.01.2023)
Supreme Court has held that non-banking finance (NBFC) and leasing companies are not liable to pay tax on the interest component included in the hire-.....
Tags : Supreme Court, Non-Banking Finance, Hire Purchase Agreement
Bombay HC: Mere Repayment of Loan Amount ‘No Ground’ For Quashing Cheating Case(29.03.2017)
Bombay High Court has held that re-payment of loan amount will not have any adverse effect on a criminal prosecution and observed that offences involv.....
Tags : Bombay High Court, banking and loan transactions
RBI Clears Way for Mergers and Acquisitions in Banking Industry(20.11.2015)
Reserve Bank of India (RBI) has said that it permit promoters/investors to own more than 10% if applicant meets certain conditions including if `it is.....
Tags : Reserve Bank of India, Mergers and Acquisitions in Banking Industry
RBI Notifies P2P Lending Platforms as NBFCs(21.09.2017)
Reserve Bank of India has notified that Peer-to-Peer (P2P) lending platforms will fall under the ambit of a Non-Banking Financial Company (NBFC).
Tags : Reserve Bank of India, Non-Banking Financial Company
RBI Widens Scope of Ombudsman Scheme, Mobile And Electronic Banking Brought Under Purview(26.06.2017)
Reserve Bank of India has widened scope of its Banking Ombudsman Scheme 2006, to include inter alia deficiencies arising out of sale of insurance/ mut.....
Tags : Reserve Bank of India, Banking Ombudsman Scheme 2006
Banking Regulation Ordinance, 2017: RBI Gets Power to Initiate Insolvency Process Against Defaulters(05.05.2017)
President Pranab Mukherjee has approved Banking Regulation (Amendment) Ordinance, 2017 which gives power to Reserve Bank of India to initiate insolven.....
Tags : President Pranab Mukherjee, Banking Regulation (Amendment) Ordinance, 2017
RBI Guidelines on Banking Regulation Act Stresses on Timeline for CAP in Joint Lenders Forum(10.05.2017)
RBI has issued directions u/s 35AB of Banking Regulation Act, 1949 stressing on timelines to be followed while finalizing a Corrective Action Plan (“C.....
Tags : RBI, Banking Regulation Act, 1949
RBI Grants NBFCs More Power to Change Ownership in Stressed Firms(30.10.2015)
Reserve Bank of India (RBI) has allowed Non-Banking Finance Companies (NBFCs) to upgrade credit facilities extended to borrowing entities whose owners.....
Tags : Reserve Bank of India, Non-Banking Finance Companies
RBI Permits Cooperative Banks to Offer Internet Banking Services(06.11.2015)
RBI has allowed all cooperative banks to offer Internet banking services to their customers and said that any Urban Cooperative Bank, State Cooperativ.....
Tags : RBI , Cooperative Banks , Internet Banking Services
SC: Non Banking Cooperative Society Providing Credit to Members Eligible for Section 80P Deduction(15.09.2023)
Supreme Court has held that a co-operative society that is not a co-operative bank under Section 56 of Banking Regulation Act, 1949, then such society.....
Tags : Supreme Court, Cooperative Society, Banking, Deduction
RBI Cancels License of 56 NBFCs(07.12.2015)
Reserve Bank of India (RBI) has cancelled a bulk of Non-Banking Financial Companies (NBFCs) Licence, for either violating regulatory norms or surrende.....
Tags : Reserve Bank of India , Non-Banking Financial Companies
Delhi HC Directs SIT to Complete Investigation in Plea Seeking Inquiry into Banking Fraud(18.03.2020)
Delhi High Court has directed the Special Investigation Team to conclude investigation into banking frauds as expeditiously as possible and in all cir.....
Tags : Delhi High Court, Banking Fraud Cases
RBI Issues Draft Norms for Account Aggregators(04.03.2016)
Reserve Bank of India (RBI) has issued draft guidelines for setting up of Non-Banking Finance Companies (NBFC) that would act as account aggregators a.....
Tags : Reserve Bank of India , Non-Banking Finance Companies
Apex Court Directs Bank to Compensate School who Lost Money in Online Banking Fraud(20.12.2019)
Apex Court has directed a Bank to give compensation of Rs 25 Lakhs to a school whose money from the bank account was siphoned out by the miscreants. T.....
Tags : Apex Court, Online Banking
CESTAT, New Delhi: Banking Services are Related to Collection of Export Proceeds(05.03.2020)
Customs Excise and Service Tax Appellate Tribunal, New Delhi has held that banking services are related to the collection of export proceeds and has a.....
Tags : Customs Excise and Service Tax Appellate Tribunal, Banking Services
#Economic Survey 2021-2022: Impact of Pandemic on Banking System(31.01.2022)
The banking system is well capitalized and the overhang of Non-Performing Assets seem to have structurally declined.
Tags : Economic Survey, Banking System
#Union Budget 2022-2023: Post Office to Come Under Core Banking Systems(01.02.2022)
Finance Minister has said that 100% of 1.5 lakh Post Offices will come on Core banking systems to help farmers and senior citizens in rural areas. Go.....
Tags : Union Budget, Finance Minister, Core Banking Systems
Notifications & Circulars
Trend and Progress of Banking in India 2014-15 and Financial Stability Report December 2015(23.12.2015)
The Reserve Bank of India released its Report .....Tags : Banking, indicators, 2015, december
Award for outstanding writings in the field of Banking Hindi(16.10.2017)
With a view to encourage original writings and research in Banking Hindi, Reserve Bank of India has launched an 'Award scheme for outstanding writings.....
Tags : Outstanding writings, Banking Hindi, Award
Award for outstanding writings in the field of Banking Hindi(16.10.2017)
With a view to encourage original writings and research in Banking Hindi, Reserve Bank of India has launched an 'Award scheme for outstanding writings.....
Tags : Outstanding writings, Banking Hindi, Award
Setting up of IFSC Banking Units (IBUs) - Permissible activities(21.01.2020)
This is with reference to RBI circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015, as modified from time to time, setting out RBI directi.....
Tags : IFSC, Banking Units, Permissible activities
Report on Trend and Progress of Banking in India 2019-2020(29.12.2020)
Today, the Reserve Bank of India released the Report on Trend and Progress of Banking in India 2019-20, a statutory publication in compliance with Sec.....
Tags : Report, Trend, Banking sector
Measures taken to facilitate digital banking(27.07.2021)
The Government has taken a number of steps to facilitate digital banking, doorstep banking services and digital lending platforms. This was stated by .....
Tags : Measures, Digital banking, Digital infrastructure
Cancellation of licence to carry on banking business in India and, conversion of Urban Co-operative Bank into a Co-operative Society(10.08.2016)
Reserve Bank of India has cancelled the licence of Shri Yugprabhav Sahakari Bank Ltd., Vadodara (Gujarat) vide order dated June 29, 2016. In view of t.....
Tags : Licence, Cancellation, Banking business
Award Scheme For Outstanding Writings In The Field Of Banking Hindi Declaration Of Result For The Year 2015-16(17.04.2017)
Reserve Bank of India had invited entries under the captioned scheme vide press release dated 14 July 2016. On evaluation of the entries received, it .....
Tags : Scheme, Award, Banking hindi
RBI launches Survey on International Trade in Banking Services (ITBS): 2019-20(24.09.2020)
The Reserve Bank of India has launched the 2019-20 round of its annual Survey on International Trade in Banking Services (ITBS).
The survey,.....
Tags : Survey, International Trade, Banking Services
Cancellation of licence to carry on banking business in India under Section 22 read with Section 56 of the Banking Regulation Act, 1949 - Rupee Co-operative Bank Ltd., Pune(02.11.2022)
1. The Reserve Bank of India, vide order No.DOR.MON.LC-04/12.22.218/2022-23 dated August 08, 2022, had cancelled the banking licence of Rupee Co-opera.....
Tags : Cancellation, licence, Banking business
Central Government declares the computer resources of Canara Bank to be protected systems(11.01.2023)
In exercise of the powers conferred by sub-sections (1) and (2) of section 70 of the Information Technology Act, 2000 (21 of 2000), the Central Govern.....
Tags : Computer resources, Core Banking Solution, protected systems
Internet Banking Facility for Customers of Cooperative Banks(05.11.2015)
The Reserve Bank of India has allowed State Cooperative Banks and District Central Cooperative Banks to provide Internet Banking facilities to their c.....
Tags : Internet banking, cooperative, guidelines
RBI permits internet banking in regional rural banks(19.11.2015)
The Reserve Bank of India permitted Regional Rural Banks to provide internet banking facilities to their customers, provided they have implemented the.....
Tags : Regional, rural bank, internet banking
Bank Holiday on Second and Fourth Saturdays from September 1(28.08.2015)
All scheduled and non-scheduled banks - public, private, foreign, cooperative, regional rural and local area banks - will observe public holiday on se.....
Tags : Banking, holiday, saturday
Annual Conference of Banking Ombudsmen 2017 - July 25, 2017(31.07.2017)
The Annual Conference of Banking Ombudsmen was held at Mumbai on July 25, 2017. Shri S S Mundra, Deputy Governor, Reserve Bank of India (RBI) inaugura.....
Tags : Conference, Banking, Ombudsmen
Cancellation of banking licence of Adoor Co-operative Urban Bank Ltd., Adoor, Kerala(25.04.2023)
Reserve Bank of India (RBI) is satisfied to notify The Adoor Co-operative Urban Bank Ltd., Adoor, Kerala as a non-banking Institution under Section 36.....
Tags : Banking licence, Cancellation, Notification
Notification regarding specified bank to mean a banking company which is a scheduled bank and has been appointed as an agent under Section 45 of Reserve Bank of India Act, 1934(02.09.2021)
In exercise of the powers conferred by clause (a) of Explanation to section 194P of the Income-tax Act, 1961 (43 of 1961), the Central Government here.....
Tags : Specified bank, Banking company, Notification
Portal for trading Priority Sector Lending Certificates(07.04.2016)
The Reserve Bank of India issued instructions on trading of Priority Sector Lending Certificates – to facilitate a trading platform via its Core Banki.....
Tags : Pslc, trading, ekuber, core banking
RBI to assist cooperative banks in uptake of Core Banking(13.04.2016)
To ensure implementation of Core Banking System in Urban Cooperative Banks, the Reserve Bank of India will dole out Rs. 4 lakh to each to cover initia.....
Tags : Cooperative banks, core banking
Central Government declares the services engaged in the Banking industry to be a public utility service(14.12.2023)
Whereas the Central Government is satisfied that public interest so requires that the services engaged in the 'Banking', which is covered under item 2.....
Tags : Declaration, Banking industry, Public utility
Report on Trend and Progress of Banking in India 2018-19(24.12.2019)
The Reserve Bank of India released the Report on Trend and Progress of Banking in India 2018-19, a statutory publication in compliance with Section 36.....
Tags : Report, Progress, Banking
Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 to Millath Co-operative Bank Limited(08.11.2021)
1. The Reserve Bank of India issued All Inclusive Directions to Millath Co-operative Bank Limited, Davangere, Karnataka under Section 35 A read with S.....
Tags : Directions, Banking Regulation Act
UBS AG no longer a banking company(19.05.2016)
The Reserve Bank of India notified USB AG, the Swiss multinational financial services firm, to have ceased being a ‘banking company’ under the Banking.....
Tags : Ubs, swiss, banking company, banking act
Exemption of a Banking Company from the application of the provisions of Sections 5 and 6 of the Competition Act, 2002(11.03.2020)
In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government hereby exempts a Ban.....
Tags : Exemption, Banking Company, Application, Provisions
Linking of SWIFT to the Core Banking System(22.03.2018)
Department of Economic Affairs has apprised that in pursuance to the announcement made in the Budget Speech 2018-19 (para 75), a Steering Committee on.....
Tags : SWIFT, Linking, Banking System