While PSU banks have cut MCLR the most since April 2016, when the new benchmark rate was first introduced, surprisingly foreign banks sport the lowest MCLR amongst all banks.
Tag: Economy
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…
Number of PSBs may go down to 12 as govt mulls consolidation . The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12.
Customers’ complaints about problems like cash withdrawal and exchange of old notes faced post demonetisation cannot be entertained under the Banking Ombudsman (BO) scheme, the Reserve Bank has said.
RBI Notification DNBR (PD-ARC) No. 05/ED(SS)-2017 dated April 28, 2017In exercise of the powers conferred by clause (b) of sub-section (1) of section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Reserve Bank of India hereby specifies that the Net Owned Fund (NOF) for Asset Reconstruction Companies…
A good and informative article shared from my friend Shri Arvind Mannur’s post:MAJOR POLICIES THAT AFFECT BANKS:All the major policy matters decide the destiny of banks. Look at the following:1. MONETARY POLICY decides the volume of business growth, interest rates on deposits & lending, and all other prudential regulations.2. FISCAL POLICY decides the tax matters…
The Lower House of Parliament i.e. Lok Sabha has today passed Four(4) Supplementary Bills of the GST which will pave the path for smooth roll out of GST from 1st July 2017. Since this Bill has been passed as Money Bill passage of it from the Upper House i.e. Rajya Sabha will not be an…
Five of the six members of the Monetary Policy Committee (MPC) were of the view that the effect of withdrawal of Rs. 500 and Rs. 1,000 bank notes, as part of the government’s demonetisation drive, on the economy is likely to be transient.
Dear friends , I have placed the updated details of FAQ’s on Withdrawal of Legal Tender Character of Old Bank Notes (SBN). Please click on the following links for the same: FAQ’s Updated as of 5th Dec 2016
Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances RBI has been decided to provide an additional 60 days beyond what is applicable for the concerned regulated entity(RE) for recognition of a loan account as substandard