Search Results for Tag : Banks
Judgments
SARFAESI Act is applicable to Cooperative Banks(05.05.2020)
In present case, the question relates to the scope of the legislative field covered by Entry 45 of List I viz. ‘Banking’ and Entry 32 of List II of th.....
Tags : SARFAESI Act, Co-operative banks, Applicability
News
Gujarat HC Seeks RBI’s Response over its Power to Ban DCCB Transactions & Restricts Withdrawal Limits(06.12.2016)
Gujarat High Court has asked Reserve Bank of India (RBI) whether it has powers to ban transactions at District Central Cooperative Banks (DCCB) or res.....
Tags : Gujarat High Court, demonetization, Co-Operative Banks
Bombay HC Directs RBI to Issue Payment of Salaries of Aided School Teachers(06.12.2016)
Bombay High Court has asked RBI to consider issue of payment of salaries to aided school teachers since it is disbursed through District Cooperative B.....
Tags : Bombay HC, District Cooperative Banks, salaries
Delhi High Court: Finance Ministry Dept's Fine on Banks Reversed(09.09.2019)
Delhi High Court has dismissed 15 appeals by the Financial Intelligence Unit of the Finance Ministry against an order of the Appellate Tribunal of th.....
Tags : Delhi High Court, Banks
RBI Proposes Penalties for Banks Failing to Replenish Bank ATMs Within Time(11.08.2021)
Reserve Bank of India (RBI) has proposed penalties for banks and White Label ATM operators if their ATMs are found to be lying without replenishment f.....
Tags : Reserve Bank of India, Penalties for Banks Failing to Replenish Bank ATMs
What Protection is Available to a Depositor if Bank Fails: Delhi High Court asks Centre(09.10.2018)
Delhi High Court has asked Centre that what is the protection available to customers having deposits of over Rs 1 lakh if a bank fails and said that i.....
Tags : Supreme Court, Banks
SC Recalls Order for Promotion Quota in Banks(11.01.2016)
Supreme Court has recalled its direction to grant quota in promotions to SC/ST employees in higher grade posts in public sector banks, and left it to .....
Tags : Supreme Court, quota in promotions to SC/ST employees , public sector banks
SC: Principle of Mutuality not Applicable to Income from Deposits in Member Banks(21.08.2023)
Supreme Court has held that if any income is earned by the Clubs through deposits made by clubs in banks that are members of the club, such income wou.....
Tags : Supreme Court, Principle of Mutuality, Clubs, Banks
Madhya Pradesh High Court Stays RBI Circular on Urban Cooperative Banks(06.09.2021)
Madhya Pradesh High Court has stayed a circular issued by the Reserve Bank of India (RBI) on June 25 which laid down several conditions related to Urb.....
Tags : Madhya Pradesh High Court, RBI Circular on Urban Cooperative Banks
RBI Revises Priority Sector Lending Norms for RRBs(04.12.2015)
Reserve Bank of India (RBI) has revised the priority sector lending target for Regional Rural Banks (RRBs) to 75% of total outstanding loans from 60% .....
Tags : Reserve Bank of India, Regional Rural Banks
Bombay HC Refuses to Hear Co-operative Banks Plea on Demonetization Issue(25.11.2016)
Bombay High Court has said that it cannot hear petitions filed by District Co-operative Banks on demonetization issue or grant any relief to them, and.....
Tags : Bombay High Court, Co-operative Banks, demonetization
Hyderabad HC Questions Centre’s Policy over Role of Cooperative Banks in Demonetization Drive(30.11.2016)
Hyderabad High Court has questioned Centre as to why it was not taking into confidence Cooperative Banks in its fight against black money.
Tags : Hyderabad HC, Cooperative Banks , Demonetization
Gujarat HC Seeks Centre’s, RBI’s Response over DCCBs Note Exchange Ban(30.11.2016)
Gujarat High Court has sought replies from Centre and RBI on a petition challenging legality of their notifications banning District Central Co-Operat.....
Tags : Gujarat High Court, demonetization, Co-Operative Banks
Supreme Court Directs Centre to List Out Measures Taken to Ease Inconvenience of Rural People(05.12.2016)
Supreme Court has asked Centre to spell out measures taken to ease sufferings and inconvenience of people in rural areas, who are mostly dependent on .....
Tags : Supreme Court, demonetisation, Co-operative banks
PMGKD Scheme Amended to Exclude Co-operative Banks From Accepting Deposits(23.01.2017)
Central Government has amended Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 to exclude Co-operative Banks from accepting deposits under P.....
Tags : Pradhan Mantri Garib Kalyan Deposit Scheme, Co-operative Banks
Centre Notifies Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021(29.01.2021)
Central Government has notified the Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021 which seeks to amend the Natio.....
Tags : Central Government, Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021
Top Pvt Banks Slap Charges on Cash Transactions, Caps Free Transactions(02.03.2017)
Banks including HDFC, ICICI, Axis began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transac.....
Tags : Banks, Cash Transactions
Supreme Court Seeks Centre and State Government’s Reply on Plea to Regulate Blood Banks(04.02.2020)
Supreme Court has sought response from Centre and all the State Governments on a plea seeking direction to strengthen and regulate blood banks and blo.....
Tags : Supreme Court, Blood Banks
Bombay HC Seeks RBI’s Response Over Inconsistencies in Demonetization Directives to Co-operative Bank(22.11.2016)
Bombay HC, while observing that prima facie there were some inconsistencies in two circulars issued by Reserve Bank to District Co-Operative Banks on .....
Tags : Bombay HC, Reserve Bank, Co-Operative Banks, demonetisation
Delhi HC Dismisses Challenge Against Prohibition on Chhath Puja at Yamuna River Banks(11.11.2021)
Delhi High Court has dismissed a petition challenging the Delhi Government's decision that prohibited devotees to perform Chhath Puja on the banks of .....
Tags : Delhi High Court, Prohibition on Chhath Puja at Yamuna River Banks
Kar. HC: Banks Do Not Have the Power of Retaining Passport or OCI Card of Accused as Security(17.01.2024)
Karnataka High Court has held that banks do not have the authority to withhold the passport or OCI cards of an accused, even if, the accused has surre.....
Tags : Karnataka High Court, Passport, Banks
RBI Issues Norms to Shore Up Governance Standards at Urban Cooperative Banks(02.01.2020)
Reserve Bank of India has released the final guidelines for setting up a board of management for such banks. According to the guidelines, UCBs, with d.....
Tags : RBI, Urban Cooperative Banks
Supreme Court Bars Lenders from Making Claims in Arbitration Tribunals(25.01.2021)
Supreme Court has barred banks and financial institutions from making a claim in an arbitration tribunal to recover their money stating that holding t.....
Tags : Supreme Court, Claims of Banks and Financial Institutions
Government Banks on New PSU Norms for Higher Non-tax Revenue(09.06.2016)
Centre has released new guidelines on capital restructuring of state-owned companies, which will make them more accountable on matters of dividends, b.....
Tags : Government Banks, PSU Norms
RBI Revises Norms For Action Against Weak Banks(14.04.2017)
Reserve Bank of India (RBI) has tightened rules that trigger regulatory action on lenders when they fall short of capital or exceed bad loan limits.
Tags : Reserve Bank of India, Weak Banks
RBI Issues Shareholding Norms for Private Sector Banks(13.05.2016)
Reserve Bank of India (RBI) has issued new guidelines on ownership in private sector banks by bundling shareholding patterns into two broad categories.....
Tags : Reserve Bank of India, Private Sector Banks
Delhi HC: Employees and Officials Working in Banks Have Larger Responsibility of Ensuring Integrity(20.12.2021)
Delhi High Court has observed that the employees and officials working in banks have a larger responsibility of ensuring the integrity of the banking .....
Tags : Delhi High Court, Employees and Officials Working in Banks
Bom. HC: Banks to Show Evidence to Borrowers Before Invoking Circular on Wilful Default(27.03.2024)
Bombay High Court has held that commercial banks need to show the evidence to defaulting borrowers before invoking the master circular on wilful defau.....
Tags : Bombay High Court, Wilful Default, Commercial Banks
RBI Clears 11 Payments Banks(20.08.2015)
Reserve Bank of India (RBI) has given 'in principle' clearance to 11 entities to set up 'payments banks'. These entities include department of posts, .....
Tags : Reserve Bank of India, Payments Banks
Calcutta HC Passes Injunction Order Restraining Activities on River Banks, Alluvial Landscapes Etc(20.04.2021)
Calcutta High Court has passed an order of an injunction restraining any activity on the lands which are river banks or alluvial landscapes or alluvia.....
Tags : Calcutta High Court, Activities on River Banks, Alluvial Landscapes Etc
SC: SARFAESI Act Applicable to Cooperative Banks(06.05.2020)
Supreme Court has held that the co-operative banks under the State legislation and multi-State co-operative banks are 'banks' under Section 2(1)(c) of.....
Tags : Supreme Court, Cooperative Banks
SEBI Eases Norms on Consolidated Numbers for Banks, Insurance Companies(13.05.2020)
Securities and Exchange Board of India (SEBI) has exempted banks and insurance companies from publishing consolidated financial results for the June q.....
Tags : Securities and Exchange Board of India, Banks, Insurance Companies
Karnataka HC Stays Auction of Properties by Banks During 21-Day Lock Down Period(31.03.2020)
Karnataka High Court has stayed for three weeks the process of auction and e-auction of mortgaged properties, during the 21-day lock-down period, obse.....
Tags : Karnataka High Court, Auction of Properties by Banks
Bom. HC: Public Sector Banks Not Empowered to Issue Look Out Circulars Against Loan Defaulters(27.04.2024)
Bombay High Court has observed that Public Sector Banks are not authorized to issue look out circulars against loan defaulters. The power exercised by.....
Tags : Bombay High Court, Public Sector Banks, Look Out Circulars, Article 14 of COI, Article 21 of COI
Kerala High Court Upholds Ordinances Merging District Cooperative Banks(29.04.2021)
Kerala High Court has upheld Ordinances amending the Kerala Cooperative Society Act, 1969 to merge District Cooperative Banks in the state with the Ke.....
Tags : Kerala High Court, Ordinances Merging District Cooperative Banks
RBI Shortlists 10 Micro Lenders to Set Up Small Banks(17.09.2015)
RBI has shortlisted 10 micro lenders to set up small banks to advance loans primarily to unbanked, small businesses , farmers, micro industries, small.....
Tags : RBI ,small banks
RBI Relaxes Norms on Loans to CEOs, Directors of Banks(17.09.2015)
RBI has said that loans granted to CEO and Whole Time Director of banks for purchasing car, personal computer, furniture, constructing/acquiring house.....
Tags : RBI, Loans to CEOs, Directors of Banks
RBI Imposes Rs 27-Crore Penalty on 13 Banks for FEMA Violations(28.07.2016)
Reserve Bank of India (RBI) has penalized 13 banks and slapped a fine of Rs 27 crore for violation of Foreign Exchange Management Act (FEMA) provision.....
Tags : Reserve Bank of India , FEMA, banks
Delhi HC Temporarily Restrains 6 PSU Banks from Taking Coercive Action Against Company(29.04.2020)
Delhi High Court has temporarily injuncted 6 Public Sector Units banks from taking any coercive action against Eastman Auto Limited for defaults arisi.....
Tags : Delhi High Court, Coercive Action, PSU Banks
RBI Permits Custodians or Banks to Short-Sell in Govt. Bond Market(30.10.2015)
Reserve Bank of India (RBI) has permitted custodians or banks to short-sell in Government Bond Market with primary members or individual bank customer.....
Tags : Reserve Bank of India, Government Bond Market, Custodians , Banks
RBI Issues Gold Bonds Operational Guidelines(05.11.2015)
Reserve Bank has issued operational guidelines for Sovereign Gold Bonds, 2015-16 and mandated some operational procedures for Commercial banks and pos.....
Tags : Reserve Bank of India, Commercial banks , post offices, Gold Bonds Operational Guidelines
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
RBI Boosts Affordable Housing(09.10.2015)
Reserve Bank of India (RBI) has said that banks could provide home loans up to 90% for properties that cost up to Rs 30 lakh, giving a boost to low-co.....
Tags : Reserve Bank of India,banks
RBI Issues Operating Guidelines for Small Finance Banks and Payments Banks(07.10.2016)
Reserve Bank of India (RBI) has allowed payments banks and small finance banks to use digital banking to open bank accounts while streamlining their r.....
Tags : Reserve Bank of India, finance banks, payments banks, Guidelines
HP HC Upholds Guidelines by NABARD Regarding Appointment of Auditors for Cooperative Banks(26.06.2023)
Himachal Pradesh High Court has upheld guidelines issued by NABARD regarding the appointment of statutory auditors for Cooperative Banks and observed .....
Tags : Himachal Pradesh High Court, Guidelines, NABARD, Cooperative Banks
RBI: No Relaxation in CRR, SLR Norms(19.10.2015)
Reserve Bank of India (RBI) has junked the plea of entities that have secured licences to set up small finance banks that they be given some leeway in.....
Tags : Reserve Bank of India, small finance banks
RBI Junks Govt.’s Proposal for 100% FDI in Banks(26.10.2015)
Reserve Bank of India (RBI) has junked proposal from Government to allow up to 100% Foreign Direct Investment (FDI) in banks, which may come as a damp.....
Tags : RBI , 100% FDI in Banks
RBI Permits Banks to Convert Stressed Loans into Standard, Conditions Apply(25.09.2015)
RBI has said that it would permit banks to convert status of their "stressed" loans to a company into "standard" ones if entity is sold to a new major.....
Tags : RBI,Banks
RBI Orders Concurrent Auditors to Submit Reports on Non-Performing Loans Directly to Banks(25.09.2015)
Reserve Bank of India (RBI) has directed concurrent auditors of commercial banks to submit their review of non-performing loans directly to the banks .....
Tags : Reserve Bank of India,concurrent auditors of commercial banks
Notifications & Circulars
RBI releases Guidelines for 'on tap' Licensing of Universal Banks in the Private Sector(01.08.2016)
The Reserve Bank of India released on its website, "Guidelines for 'on tap' Licensing of Universal Banks in the Private Sector". Key aspects of the Gu.....
Tags : Universal Banks, Licensing, Guidelines
Cabinet gives in-principle approval for Public Sector Banks to amalgamate through an Alternative Mechanism(23.08.2017)
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given in-principle approval for Public Sector Banks to amalgamate through an Al.....
Tags : Approval, Banks, Amalgamation, Alternative Mechanism
Issuance of press release regarding management of operational risks inherent in the functioning of banks with respect to the SWIFT Infrastructure(20.02.2018)
Reserve Bank of India (RBI), as part of its ongoing efforts for strengthening of the supervisory framework in the country, has been issuing necessary .....
Tags : Management, Operational risks, Banks, Functioning
Government puts in place measures to protect commercial decision making by Banks(28.01.2020)
The Finance Minister has repeatedly assured Bankers that adequate measures would be taken to protect honest commercial decisions taken by them and dis.....
Tags : Commercial, Banks
Co-Lending by Banks and NBFCs to Priority Sector(05.11.2020)
1. Please refer to the circular FIDD.CO.Plan.BC.08/04.09.01/2018-19 dated September 21, 2018 on co-origination of loans by banks and NBFCs for lending.....
Tags : Co-Lending, Banks and NBFCs, Priority Sector
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
Provisioning pertaining to Fraud Accounts(18.04.2016)
Reserve Bank of India notified amendments to provisions in respect of Fraud Accounts. Banks making good amounts upon detection of fraud can adjust fin.....
Tags : fraud accounts, banks, adjustment, profit and loss
Mandatory Requirement of AADHAR for Individuals Availing Facilities under Specified Schemes through Banks or Financial Institutions(01.03.2017)
Whereas, the use of Aadhaar as identity document for delivery of services or benefits or subsidies simplifies the Government delivery processes, bring.....
Tags : Aadhar, Mandatory, Scheme, Banks
RBI releases "Statistical Tables Relating to Banks in India: 2019-2020"(29.12.2020)
The Reserve Bank released its web publication entitled 'Statistical Tables Relating to Banks in India: 2019-20' covering the activities of scheduled c.....
Tags : Statistical Tables, Activities, Commercial banks
RBI grants "in-principle" approval to 11 Applicants for Payments Banks(19.08.2015)
The Reserve Bank of India granted "in-principle" approval to 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Ban.....
Tags : Rbi, payments banks, approved, guidelines
RBI releases Discussion Paper on 'Governance in Commercial Banks in India'(11.06.2020)
1. The Reserve Bank of India today released on its website a Discussion Paper on 'Governance in Commercial Banks in India' for public comments.
Tags : Discussion Paper, Governance, Commercial Banks
Declaration of dividends by banks(22.04.2021)
1. Please refer to our circular DOR.BP.BC.No.29/21.02.067/2020-21 dated December 4, 2020, and other associated circulars on the captioned subject. Tags : Declaration, Dividends, Banks
Payments Bank and Small Finance Banks- access to Call/Notice/Term Money Market(29.10.2018)
1. A reference is invited to Master Direction No.2/2016-17, dated July 7, 2016 on Money Market Instruments. A reference is also invited to the Guideli.....
Tags : Payments Bank, Small Finance Banks, Access
Non-applicability of the provisions of section 31 read with clause (t) of section 56 of Banking Regulation Act, 1949 to primary co-operative banks till 31st December, 2020(29.09.2020)
In exercise of the powers conferred by sub-section (1) of section 53 of the Banking Regulation Act, 1949 (10 of 1949), the Central Government, on the .....
Tags : Non-applicability, Provisions, Co-operative banks
Access for non-banks to centralised payment systems(28.07.2021)
1. A reference is invited to Paragraph 9 of the Statement on Developmental and Regulatory Policies dated April 07, 2021 wherein it was announced that .....
Tags : Access, Non-banks, CPS
Composition and Ownership of Deposits with Scheduled Commercial Banks(11.01.2016)
The Reserve Bank of India released data related to the composition and ownership pattern of deposits with scheduled commercial banks as of March 31, 2.....
Tags : Scheduled banks, deposits, march 2015
General guidelines for implementation of e-payment of excise refund and rebate(12.01.2016)
The Central Board of Excise and Customs has prescribed procedure for e-payment of refund and rebate. The procedure is hoped to speed transfer of funds.....
Tags : Excise, e-payment, refund, rebate, authorised banks
Reserve Bank of India (Classification, Valuation and Operation of Investment Portfolio of Commercial Banks) Directions, 2021(25.08.2021)
1. The Reserve Bank of India has, from time to time, issued several guidelines/instructions/directives to the banks on Prudential Norms for Classifica.....
Tags : Master Directions, Investment Portfolio by Banks
Maintenance of current accounts in multiple banks by Stock Brokers(28.10.2021)
1. SEBI vide circular no. SMD/SED/CIR/93/23321 dated November 18, 1993 on "Regulation of Transactions between Clients and Brokers" mandated that all t.....
Tags : Maintenance, Current accounts, Multiple banks
Maintenance of current accounts in multiple banks by Insurance Intermediaries(29.12.2021)
1. It has been observed that the insurance intermediaries maintain multiple current accounts with banks at different operational levels, i.e., Branch .....
Tags : Maintenance, Current accounts, Multiple banks
Basic Statistical Return on Credit by Scheduled Commercial Banks in India - March 2022(28.09.2022)
The Reserve Bank released the web publication 'Basic Statistical Return on Credit by Scheduled Commercial Banks (SCBs) in India - March 2022'1 on its .....
Tags : Statistical Return, Credit, Banks
Central Government specifies that all public sector banks and ICICI Bank, Axis Bank, HDFC Bank Ltd. and IDBI Bank shall be authorised to operate the Mahila Samman Savings Certificate, 2023(27.06.2023)
In pursuance of the powers conferred by sub-clause (ii) of clause (g) of section 3 of the Government Savings Promotion Act, 1873 (5 of 1873), the Cent.....
Tags : Banks, Operation, Savings Certificate
Reporting of Transactions by agency banks to RBI(30.11.2017)
It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current tra.....
Tags : RBI, Agency Banks, Transactions
Lending and Deposit Rates of Scheduled Commercial Banks - September 2023(28.09.2023)
Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) for the month of Septe.....
Tags : Scheduled Commercial Banks, Lending Rates, Deposit Rates
System for reporting banks’ associations discontinued(30.06.2016)
The Reserve Bank of India discontinued the Quarterly Reporting System - foreign branches/subsidiaries/joint ventures/associates of Indian Banks , with.....
Tags : quarterly reporting system, foreign branches, associations, indian banks
Circular regarding voluntary transition of Small Finance Banks to Universal Banks(26.04.2024)
1. This is with reference to Paragraph 14 of the "Guidelines for 'on-tap' Licensing of Small Finance Banks in Private Sector" dated December 5, 2019, .....
Tags : Voluntary transition, Small Finance Banks, Conversion
Prudential Treatment of Bad and Doubtful Debt Reserve by Co-operative Banks(02.08.2024)
1. Under the provisions of the respective State Co-operative Societies Acts, or otherwise, on prudential consideration, several co-operative banks hav.....
Tags : Prudential Treatment, Doubtful Debt Reserve, Co-operative Banks
Permitting non-scheduled payments banks to register as bankers to an issue(03.08.2021)
1. SEBI vide notification dated July 30, 2021, amended the SEBI (Bankers to an Issue) Regulations, 1994 (BTI Regulations) thereby permitting such othe.....
Tags : Non-scheduled payments banks, Registration, Permission
Pay IT dues in advance at RBI or authorised bank branches(15.02.2016)
The Reserve Bank of India has authorized twenty nine agency banks to accept payments of income tax. The move hopes to reduce the heavy rush for remitt.....
Tags : Income tax, payment, agency banks, march
Incognito visits to check banks’ customer service(16.02.2016)
The Reserve Bank of India is set to undertake incognito visits to bank branches to check the culture towards customer complaints in banks. It will als.....
Tags : Banks, Customer complaints, culture, charter
RBI releases Primary (Urban) Co-operative Banks' Outlook 2015-2016(29.12.2016)
The Reserve Bank of India today released the third volume of the annual publication titled 'Primary (Urban) Co-operative Banks' Outlook 2015-16'. The .....
Tags : Co-operative Banks, Urban, Publication, Release
Law to check scams in Banks(18.12.2018)
The Government has initiated formulation of laws to secure prudential banking and help effect a culture of credit discipline, including, inter alia, i.....
Tags : Scams, Banks, Law
Timeframe for implementation of Ind AS for scheduled commercial banks(11.02.2016)
The Reserve Bank of India notified scheduled commercial banks are required to comply with Indian Accounting Standards (Ind AS) for accounting periods .....
Tags : Indian accounting standards, commercial banks, implementation
Lending and Deposit Rates of Scheduled Commercial Banks - November 2023(30.11.2023)
Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the mo.....
Tags : Lending rates, Deposit Rates, Commercial Banks
Export Data Processing and Monitoring System expanded(26.05.2016)
The Export Data Processing and Monitoring System has been expanded with modules that will now include information on handling of shipping bills for ca.....
Tags : edpms, exporters, caution, monitoring, banks
Implementation of Indian Accounting Standards(23.06.2016)
RBI asked banks to submit Proforma Ind AS (Indian Accounting Standards) Financial Statements for half year ending 30 September 2016 by 30 November 201.....
Tags : ind as, banks, financial statements
Card-on-File Tokenisation (CoFT) - Enabling Tokenisation through Card Issuing Banks(20.12.2023)
1. The card tokenisation services are being currently provided by card issuers and card networks in terms of Reserve Bank of India circulars DPSS.CO.P.....
Tags : CoFT, Tokenisation, Banks
IT dues payable in advance at authorised bank branches(16.05.2016)
Advance income tax can be paid at authorised banks instead of just with the Reserve Bank of India. Of the 29 banks authorised to acceptance tax remitt.....
Tags : Income tax, advance, authorised banks
Prompt Corrective Action (PCA) Framework(26.02.2019)
The Board for Financial Supervision (BFS), in its meeting held on February 26, 2019 reviewed the performance of banks under PCA and noted that the Gov.....
Tags : Banks, Performance, Review
Cabinet approves acquisition of subsidiary banks of State Bank of India(15.02.2017)
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the acquisition by the State Bank of India of its subsidiary banks na.....
Tags : Acquisition, Subsidiary banks, Approval
Enforcement action in respect of statutory auditors of commercial banks(03.06.2019)
RBI vide its Press Release dated June 29, 2018 had put in place an enforcement action framework in respect of statutory auditors for the lapses in the.....
Tags : Statutory auditors, Commercial banks, Enforcement action
Lending and Deposit Rates of Scheduled Commercial Banks - January 2023(31.01.2023)
Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) for the month of Janua.....
Tags : Lending, Deposit Rates, Commercial Banks
Cabinet approves Interest Subvention to banks on Short-Term crop loan to farmers(14.06.2017)
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18......
Tags : Approval, Interest Subvention, Banks
RBI releases names of applicants under the Guidelines for 'on tap' Licensing of Universal Banks and Small Finance Banks in the Private Sector(15.04.2021)
The Reserve Bank of India today released the names of applicants under the Guidelines for 'on tap' Licensing of Universal Banks and Small Finance Bank.....
Tags : Licensing, Universal Banks, Small Finance Banks
Banks must offer Wealth Management Services through subsidiary(21.04.2016)
The Reserve Bank of India clarified that banks cannot provide Investment Advisory Services (better known as ‘Wealth Management Services’) to its custo.....
Tags : investment advisors, banks, separation
Reserve Bank of India (Amalgamation of Private Sector Banks) Directions, 2016(21.04.2016)
The Reserve Bank of India notified Master Directions regarding amalgamation of two banking companies or of a banking company and an NBFC. For both, am.....
Tags : amalgamation, private banks, nbfc
Conduct of Government Business by Agency Banks - Payment of Agency Commission(13.08.2015)
The Reserve Bank of India issued a clarification on activities that do not come under the purview of agency bank business and are not eligible for pa.....
Tags : agency commission, government business, banks
Synchronising financial accounting year with calendar year(19.07.2016)
Union Minister of Finance, Aurn Jaitley, stated that a Committee to examine the desirability and feasibility of changing the financial year has been c.....
Tags : financial year, calendar year, nationalised banks, merger