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RBI WITHDRAWAL RESTRICTIONS
RBI sweetens FCNR deposits: NRIs can now earn up to 7% on dollar savingsFor the first time in years, the math is actually working for non-resident Indians to invest dollar savings in India.- NRE vs NRO: One account can make your interest tax-free, the other can attract over 30% TDSNRIs and OCIs can use NRE accounts for overseas income and NRO accounts for India-sourced income, but tax treatment differs sharply. NRE in...
- How NRIs, OCIs may benefit as RBI allows banks to offer higher interest rates on certain FCNRs, NREsThe Reserve Bank of India has temporarily lifted interest rate restrictions on certain NRE and FCNR(B) deposits until September 30, 2026. T...
- FCNR deposit rates up to 6.5%: Bank of Baroda, Indian Overseas Bank and others launch schemes for NRIs, OCIsFollowing RBI's measures to boost foreign currency inflows, several banks like Canara Bank, Federal Bank, Bank of Baroda, and IOB have laun...
- RBI imposes restrictions on Mogaveera Co-operative Bank for 6 monthsThe restrictions are effective from the closure of business hours on Friday for a period of six months and are subject to review, the Reser...
- Banks seek easing of guarantee curbs to draw more NRI fundsIndian banks are asking the Reserve Bank of India to remove a guarantee restriction. This move aims to attract money from the Indian diaspo...
- No law bans withdrawal of cryptocurrency: BinanceIndian crypto exchanges are blocking user withdrawals fearing misuse for money laundering. Global exchange Binance, however, permits free w...
- RBI imposes restrictions on Etawah-based Nagar Sahakari Bank for 6 monthsThe Reserve Bank of India has placed restrictions on Etawah-based Nagar Sahakari Bank. Customers can withdraw a maximum of Rs 10,000. The b...
- Could a tax break on bond investments be the move that strengthens the Rupee? Ashvin Parekh answersIndia is considering reducing taxes on foreign investments in its bonds to attract long-term capital and stabilize the rupee. This move aim...
- India considering emergency measures to save foreign exchangeIndia is exploring emergency measures to protect its foreign exchange reserves. These steps may include limiting imports of gold and electr...
- NRI but using resident savings account? Here’s what you must know about NRE, NRO, and FEMA rulesNRIs must update their Indian bank accounts to NRE or NRO status to comply with FEMA regulations. Failing to do so can result in significan...
- Can you still say Paytm Karo after RBI cancels Paytm Payments Bank licence?The Reserve Bank of India has cancelled the banking licence of Paytm Payments Bank. This action follows persistent compliance issues. The b...
- RBI action on Paytm Payments Bank incrementally negative for One 97, says Bernstein; retains ‘Outperform’, sees 30% upsideThe RBI has cancelled Paytm Payments Bank's license due to regulatory non-compliance, citing detrimental operations and prejudiced manageme...
- RBI cancels Paytm Payments Bank licenceIn a release, the central bank said Paytm Payments Bank can no longer conduct banking business under the Banking Regulation Act.
- RBI overhauls prepaid cards & wallets rules: Rs 2 lakh monthly debit limit, usage, restrictions, new safeguard and moreThe RBI has revised Prepaid Payment Instrument (PPI) rules, introducing new monthly debit limits for full-KYC PPIs at Rs 2,00,000, with a R...
- RBI imposes restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow; withdrawals capped at Rs 1 lakhIn a statement, RBI said the Lucknow-based co-operative bank will not, without its prior approval, grant or renew any loans and advances, o...
- RBI withdraws restrictions on Hindu Cooperative Bank, PathankotThe RBI, however, added the penalty is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of...
- RBI doubles withdrawal limit for PMC depositorsThe RBI stated that they have been in continued talks with all the stakeholders involved and pointed out that owing to the extent of the ne...
- Ex-CEO of crisis-hit Guru Raghavendra Sahakara Bank in Karnataka bookedThe case has been registered based on a complaint by the present CEO. The bank is in the middle of a crisis following huge non-performing a...
- RBI directs Mumbai-based bank to restrict withdrawalsThe central bank has also banned City Co-operative Bank from granting loans, making investments, borrowing funds and accepting deposits eff...
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