Viral Acharya: New RBI Deputy Governor
Dec29

Viral Acharya: New RBI Deputy Governor

Dr. Viral V. Acharya has been appointed as new Deputy Governor of RBI, who will join on January 20, 2017. Currently Dr. Acharya is C.V. Starr Professor of Economics, Department of Finance, New York University – Stern School of Business. 1974 born Economist Dr. Acharya has interest in singing and poetry (which you can guess from the pic). The new RBI Deputy Governor has composed at least 10 songs including Yadon Ke Silsele and Kya Yeh...

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Dispensation of Rs.100 denomination banknotes through exclusive ATMs

Reserve Bank of India (RBI) vide circular dated 02.11.2016 has directed banks to increase dispensation of Rs. 100 banknotes through ATMs which are widely used for distribution of banknotes for retail use. In a review conducted by RBI it was found that very few banks had taken initiatives in setting up ATMs dispensing lower denomination notes including Rs.100 denomination banknotes. Increase in dispensation of Rs.100 bank notes is...

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Import Data Processing and Monitoring System (IDPMS)

  A.P. (DIR Series) Circular No. 05 October 06, 2016 Import Data Processing and Monitoring System (IDPMS) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.65 dated April 28, 2016 read with Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), Government of India Notification No. G.S.R. 381(E) dated May 3, 2000 viz., Foreign Exchange Management (Current...

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Publish photographs of only Wilful Defaulters – RBI
Oct02

Publish photographs of only Wilful Defaulters – RBI

Reserve Bank of India, on 29th September, 2016 directed banks and financial institutions to publish photographs of only wilful defaulters in the newspapers. RBI directed that photographs of other defaulters, who have not been declared as wilful defaulters are not to be published by banks and financial institutions. You may like: Expected DA for November 16 to January 2017 – Updated on 30.09.2016 The guidelines regarding penal measures...

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Interest Free Banking in India

RBI is exploring the possibility of interest free banking in India to improve financial inclusion. According to Annual Report released by RBI: “Some sections of the Indian society have remained financially excluded for religious reasons that preclude them from using banking products with an element of interest. Towards mainstreaming these excluded sections, it is proposed to explore the modalities of introducing interest-free banking...

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