The National Payments Corp. of India Ltd’s (NPCI) most ambitious project, unified payments interface (UPI) system, will go live on Monday. The payments interface is expected to bring about a significant shift in the way mobile banking transactions are conducted. 1. Reduce need for e-wallets: UPI is set to allow you to make payments using…
The Goals of Monetary PolicyPrimarily price stability, while keeping in mind the objective of growth.In India, subsequent to the recommendations of the Dr. Urjit Patel Committee Report, the Reserve Bank has formally announced a “glide path” for disinflation that sets an objective of below 8 per cent CPI inflation by January 2015 and below 6…
Much of the economy depends on oil. This is why prices of oil matter to almost every economy. Global crude oil prices are down nearly by 60% this year to $40 per barrel-levels from $110 / barrel at the start of the year. This has caused a crisis in countries like Russia, which depends on…
Reserve Bank of India softened the rules for Liquidity Measurement and Risk Management making the Banks feel comfortable on Liquidity Measurement aspect.
Experts believe that the transmission will be more in the coming months. “We expect the 10-year yield falls to around 7% by December because RBI may cut 50 to 75 bps before December,” said Sivakumar. And since small savings rates are linked to market rates now, it is also expected to come down further in…
Reserve Bank has issued Master Direction on Interest Rate in Deposits vide its Direction ” RBI/DBR/2015-16/19Master Direction DBR. Dir. No.84/13.03.00/2015-16 ” dated 3rd March 2016. The said directions spell uniform guidelines for payment of interest rates on various deposits as regards its rates. periodicity, premature withdrawals etc on domestic as well as NRE and FCNR(B) deposits. One…
ECS will be replaced with NACH from 01/04/2016. Kindly ensure that all ECS payment to be made through till 31/03/2016.NACH stands for National Automated Clearing House.National Payments Corporation of India (NPCI) has implemented “National Automated Clearing House (NACH)” for Banks, Financial Institutions, Corporates and Government a web based solution to facilitate interbank, high volume, electronic…
Proposal: Increase the rate of surcharge on income exceeding Rs 1 crore to 15 per cent from 12 per cent.Impact: This will raise the maximum marginal rate of tax to 35.54 per cent from 34.61 per cent on the ‘super-rich.Proposal: Increase limit for tax rebate to Rs 5,000 from Rs 2,000 for resident individuals with a total income…
MUMBAI: The Reserve Bank of India said on Tuesday it would ease rules on what lenders can count towards their core capital requirements under upcoming Basel III rules, in moves intended to ease pressure on the cash-constrained sector. Read more at: http://economictimes.indiatimes.com/articleshow/51211967.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
“The RBI has made some amendments to the treatment of certain balance sheet items for the purposes of determining banks’ regulatory capital. The review was carried out with a view to further aligning the definition of regulatory capital with the internationally adopted Basel III capital standards,” it said in a press release on 1st March…