Interest
Rate and Economy : RBI Governor
Raghuram Rajan “Interest rate
cut by itself would not
lift the economy. It is not the
only thing which is holding
back economic growth“ -
Reserve Bank of India (RBI) Governor
Mr. Raghuram Rajan
Showing posts with label RBI. Show all posts
Showing posts with label RBI. Show all posts
CREDAI expresses disappointment as RBI maintains status quo on key rates
Seeks lower cost of funds for Real Estate Sector to fuel housing & industrial growth The Confederation of Real Estate Developers’ Associations of India ( CREDAI ) , the apex body for private real estate developers in India expressed disappointment at RBI decision to maint…
5 Major Reasons why RBI May Not Cut Rate in December, 2014
The chorus for a rate
cut is unlikely to prompt Reserve Bank of India (RBI) Governor Mr. Raghuram
Rajan to take any action at the bi-monthly review of its monetary policy on
December 2. "The pressure
from all quarters is huge but Mr. Raghuram Rajan is unlikely to respon…
RBI Makes SMS Alerts For Cheques Transactions Mandatory
Indian Banks will now
start sending SMS alerts to both payer & drawer in cheque transactions as
soon as the instruments are received for clearing. Expressing concern
over the rise in cheque-related fraud cases, the Reserve Bank of India (RBI)
has made SMS alerts mandator…
How these 0% schemes are not 100% zero per cent?
Unlike their names, most Zero per cent schemes have other costs in built.
The biggest cost is that, your cash discount is forfeited which retailer would have given on cash payment, besides you pay some processing / or transaction fee and / or advance EMIs.
Thus paying muc…
What are the benefits of Cheque Truncation System - CTS to bank customers?
Will Any change in the process for customers in Cheque Truncation System? No. There is no change in the clearing process for bank customers in Cheque Truncation System (CTS ). Customers continue to use cheques as at present, except to ensure the use of image-friendly coloured…
Phishing E- Mail in the Name of RBI..!
Next time you get an email from the Reserve Bank of India (RBI) think again An email allegedly from India's banking regulator RBI ,asking denizens to secure their bank account details with the RBI is fake, and an attempt by new-age fraudsters to con people into giving aw…
Reserve Bank of India 100 % Against 0 % EMIs for Consumer Goods
Planning to buy a phone or / a television during the upcoming festive season Do not bet on paying off the bill in interest free instalments.
These schemes are being withdrawn as the Reserve Bank of India (RBI) has frowned on the practice of banks tempting consumers to make…
Whether the Cheque Truncation System has legal sanction?
Whether the Cheque Truncation System - CTS - has legal sanction? With amendments in the Sections 6 and 1 (4), coupled with the introduction of 81 A to the Negotiable Instruments Act, 1881, truncation of cheques is now legalized. Need for any further clarifications, who can…
Precautions required to be taken by Bank Customers to avoid frauds in cheques ?
Banks / Bank Customers should use "CTS* 2010" cheques which are not only image friendly but also have more security features. Customers may request / insist their banks for cheque forms that are compliant with the "CTS 2010" standard. They should preferab…
Reserve Bank eases norms on small money transfers
Reserve Bank of India (RBI) on recently relaxed norms by doubling the transaction cap on small money transfers, who do not have bank accounts,
Under the new norms, the cash payout arrangements for amounts being transferred out of bank accounts to beneficiaries not having …
If a customer desires to see physical cheque issued by him, what options available in CTS?
Under CTS the physical cheques are retained at the presenting bank level & do not move to the paying banks. In case a bank customer desires, banks can provide images of cheques duly authenticated. In case, however, a bank customer desires to see / or get the physical ch…
Banks May Make Your Identity Public : Loan Defaulters Beware...!
Adopting a name & shame policy to make home loan borrowers pay their dues, banks have decided to publish in newspapers photographs & details such as names and addresses of wilful loan defaulters and market leader State Bank of India (SBI) has taken the lead in doing…
Is Islamic Banking Possible in India?
The Reserve Bank of India (RBI) governor, Mr. D.Subbarao on recently said the current Banking Regulation Act does not permit Islamic banking & that the central government will have to bring in a new law if it wants to introduce it in India. The governor Mr. D.Subbarao sa…
RBI Rule : MICR, IFSC Code Must on Passbook, A/C statement
The RBI (Reserve Bank) has made it mandatory for all banks to print the MICR and IFSE code on the passbook and statement of account of the customers.
RBI said in a statement, “Now the MICR code is available on the cheque leaf along with the IFSC code of the branch. On a …
Reserve Bank : Never asks for Your Bank Account Details
It has come to the notice of India's Central bank RBI (Reserve Bank of India) that mail has been sent in its name “inviting bank customers to update their bank account details against online phishing”.
RBI Never asks for Your Bank Account Details
The Reserve Bank has c…
Entire process flow in Cheque Truncation System - CTS..!
In Cheque Truncation System (CTS ), the presenting bank (or / its branch) captures the data (on the MICR band) and the images of a cheque using their Capture System (comprising of a scanner, core banking or / other application) which is internal to them, and have to meet the…
Loan Approval Time:RBI New Rule Comes
Soon,
you will not have to wait endlessly for your bank to communicate its decision
on your loan proposals. The
Reserve Bank of India's (RBI) recent diktat to banks asking them to clearly
indicate the timelines for disposing of loan applications will come into effect
wit…
NBFC Loan Against Shares : RBI New Rule..
NBFCs with assets in excess of Rs.100 crore will have to maintain
loan-to-value ratio of 50%, says central bank RBI
The Reserve Bank of India (RBI) on clamped restrictions on the amount
that non-banking financial companies (NBFCs) can lend against shares pledged as
collate…
RBI Eases Norms to buy Immovable Property Abroad
Reserve Bank of India
(RBI) recently said individuals can also use funds under Liberalised
Remittances Scheme (LRS) to buy immovable property abroad. Encouraged by an
improvement in the forex market, the RBI on June 3, 2014 had raised annual
overseas investment ceiling for i…
