Moody’s upgrades India rating, backs Modi govt reforms

New York, November 16, 2017 — Moody’s Investors Service (“Moody’s”) has today upgraded the Government of India’s local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive. Moody’s has also upgraded India’s local currency senior unsecured rating to Baa2 from Baa3 and its short-term…

Dealing with Disciplinary Action

Dear Friends, As of Today we know that many of our Banker Fellows are facing problems on account of being issued with the Charge Sheet. They are unaware of the Disciplinary Processes involved. Hence Banker’s Helpline have issued a very comprehensive Booklet on Disciplinary Matters for Bank Officers. We  have uploaded the same on our…

RBI clarifies that linking Aadhaar to bank accounts is mandatory

The Reserve Bank of India has said biometric identity number Aadhaar linkage with bank accounts is mandatory.  The RBI clarification followed media reports quoting a reply to a Right to Information (RTI) application that suggested the apex bank has not issued any order for mandatory Aadhaar linkage with bank accounts.  The Reserve Bank clarifies that,…

Monetary policy review: RBI leaves key rates unchanged

MUMBAI, OCT 4:  The RBI has decided to maintain status quo and keep its key interest rate, the repo rate, unchanged at 6 per cent. It had last cut rates by 25 bps two months earlier in its August review. The pause was on expected lines as market consensus had predicted a pause in its cutting…

Merchant Aadhaar Pay

Merchant Aadhaar Pay: Yet another digital payment mode that is gaining popularity amongst merchants. Salient features- 1. Application for merchants that eases making payment by customer to merchant 2. Any bank customer having at least one account linked to his Aadhaar can make payment to the merchant by just putting his/her thumb impressions on a…

Govt notifies changes in Banking Regulation Act

The Government has notified the Banking Regulation (Amendment) Act under which it can authorise the RBI to issue directions to banks to initiate insolvency resolution process to recover bad loans. The Govt. has promulgated  Ordinance on 5th May 2017  authorising the Reserve Bank of India (RBI) to issue directions to banks to initiate insolvency resolution process…

Govt may delay PSB mergers as RBI’s new norm on insolvency may hit banks balance sheet.

The government may be forced to put its state-run bank consolidation push on the back burner since at least a dozen of them are staring at a big hole in the balance sheet this fiscal year after RBI told them to get cracking on resolving as many as 50 bad loan accounts or initiate bankruptcy…

RBI releases its Annual Report for 2016-17

Reserve Bank of India released its Annual Report for 2016-17, a statutory report of its Central Board of Directors on August 30th 2017. Since the report is very large and consists of several chapters we are giving the link from RBI’s site. To read the chapter of your choice, please click on the links below. You…

RBI Introduces ₹ 50 banknote in Mahatma Gandhi (New) Series

The Reserve Bank of India will shortly issue ₹ 50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Hampi with Chariot on the reverse, depicting the country’s cultural heritage. The base colour of the note is Fluorescent Blue. The note…

Rs 200 note launched: Here’s a brief history of Indian bills post Independence

The Reserve Bank of India issued on August 25, 2017 ₹ 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India from select RBI offices, and some banks. Modern paper currency in India traces its origins to the late 18th century when private and…