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 Read more…
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 Read more…
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 Read more…
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 RBI directed that photographs of other defaulters, who have not been declared as wilful defaulters are not to be published by banks and financial institutions.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 Read more…
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 Read more…
The Reserve Bank of India today placed on its website the Draft Large Exposures (LE) Framework for comments. The salient features of the proposed Large Exposures (LE) Framework include: The Large Exposure (LE) limit in respect of each counterparty and group of connected counterparties, under normal circumstances, will be capped Read more…