Names as Appearing in the Certificate of Registration and the Licence — Use of — Primary (Urban) Co-operative Banks (UCBs) Please refer to our circular UBD.No.BR/11/16.51.00/98–99 dated December 11, 1998 and subsequent circulars UBD.CO.BR.No.538/16.51.00/2000–01 dated May 21, 2001 and UBD(PCB).Cir.34 /16.51.00…
Category: RBI
Increase of Gold Loan Quantum for Gold Loan with Bullet Repayment by Co-operative Banks
Please refer to circular UBD. PCB. Cir.No.22/13.05.000/07–08 dated November 26, 2007, wherein Urban Cooperative Banks (UCBs) were permitted to grant gold loans up to Rs. 1.00 lakh with bullet repayment option. Based on the representations received from UCBs and National/State…
RBI Guideline on Use of Business Correspondents by Banking Sectors
Please refer to paragraph 26 of the First Bi-monthly Monetary Policy Statement, 2014–15 announced on April 1, 2014 which stated that “On financial inclusion, the fourth pillar, the recommendations of the Mor Committee on accelerating the flow of credit to…
RBI has released Preventive Measures for Cheque related Fraud Cases
The rise in the number of cheque related fraud cases is a matter of serious concern. It is evident that many of such frauds could have been avoided had due diligence been observed at the time of handling and/or processing…
Minutes of the September 24, 2014 Meeting of the Technical Advisory Committee on Monetary Policy by RBI
The thirty-seventh meeting of the Technical Advisory Committee (TAC) on monetary policy was held on September 24, 2014 in the run up to the Fourth Bi-monthly Monetary Policy Review of 2014–15 on September 30, 2014.The main points of discussion in…
Portfolios of RBI Deputy Governors Effective November 3, 2014
Consequent on reorganization of the departments/work areas in the Reserve Bank of India effective November 3, 2014, the portfolios of the Deputy Governors will be redistributed as under: Name Cluster/Departments Shri H. R. Khan Financial Markets & Infrastructure Coordination work…
RBI is asking for a Financial Resolution Authority
Reserve Bank of India (RBI) is in talks with the Central govt to set up a financial resolution authority (FRA). “We really need a financial resolution authority so that we can close financial institutions in trouble, without necessarily merging those and taking…
RBI to issue guidelines for small finance banks application soon
In the next few weeks, RBI will put out guidelines inviting applications for small finance banks. Small Finance Banks are banks that will cater to smaller customers across the country. The detailed guidelines will also be put out announced by…
RBI to invite applications for bank licences
The Reserve Bank will soon invite applications for issuance of licences in three categories — small banks, payment banks and universal banks — to achieve financial inclusion target. Reserve Bank will shortly invite fresh applications to grant licence in three…
Final norms for payment banks next month may announced by RBI in next month
Reserve Bank of India’s (RBI) Deputy Governor S S Mundra has said the central bank plans to announce the final norms on small and payment banks next month. “We have received comments (on the discussion paper). Soon, in a month or…