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MASTER CIRCULARS RBI
RBI proposes to further enhance money market participation, liquidityThe Reserve Bank of India is proposing new guidelines to boost participation and liquidity in the term money market, allowing entities to s...- Banks seek RBI clarity on leveraged NRI FCNR deposit structuresIndian banks are seeking clarity from the RBI on allowing overseas branches to lend to non-residents for FCNR(B) deposits. Some lenders, li...
- RBI allows exchange of INR at forex counters in international airport departure areasThe Reserve Bank of India has updated its rules. Residents and non-residents can now exchange Indian rupee notes. This facility is availabl...
- RBI issues 244 Master Directions, consolidating over 9,000 circulars aimed at reducing compliance burdenThe Reserve Bank of India has reorganised its regulatory rulebook by merging thousands of circulars and guidelines into a smaller set of Ma...
- RBI consolidates 9,445 circulars into 244 master directives to ease complianceThe Reserve Bank of India has consolidated 9,445 circulars into 244 master directives for 11 types of regulated entities. This initiative a...
- Classification of Ratul Puri, his mother as wilful defaulters legally unsustainable: Delhi HCThe Delhi High Court has ruled that the "wilful defaulter" classification of Ratul Puri and his mother, Nita Puri, by the Bank of Baroda an...
- Anil Ambani case: When does a loan account turn fraudulent?The Bombay High Court raised concerns over the arbitrary process by banks declaring loan accounts as fraudulent without following proper RB...
- These 10 transactions will be reported as fraud to RBI, as per new rulesThe RBI said in a circular dated July 16, 2024, “These master directions have been prepared based on a comprehensive review of the earlier ...
- Banks should pass reasoned orders while declaring entity/person wilful defaulter, says Bombay HCThe bench was hearing a petition filed by Milind Patel, former joint managing director of IL&FS Financial Services Limited (IFIN), challeng...
- Bombay HC stays RBI circular on fraud accounts till Sept 11The division bench of justices GS Patel and Neela Gokhale temporarily stayed the central bank's master circular till the next date of heari...
- RBI's master circular on fraud: The principle of natural justice and the conundrum for banksRBI's Master Directions on Frauds was introduced to protect the interest of depositors and banks from increasing instances of frauds.
- Lender bound to give opportunity for hearing to borrower before classifying account as fraudulent: SCRejecting the stand of both RBI and the consortium of lenders led by SBI, a Bench led by the Chief Justice said that a decision classifying...
- Borrowers must be accorded hearing before declaration of bank account as fraud: SCThe Supreme Court on Monday said a borrower must be accorded a hearing before an account is classified as "fraud" and a reasoned order must...
- Misuse of fraud classification guidelines by banks is rampant: Sunil Kanoria, co-founder Srei Infrastructure FinanceOn July 1, 2016, the Reserve Bank of India came out with a Master Circular on "Frauds – Classification and Reporting" under Section 35 A of...
- RBI imposes Rs 55 lakh penalty on Pune-based Seva Vikas Cooperative BankA notice was issued to Seva Vikas Cooperative Bank advising it to show cause as to why penalty should not be imposed on it for such non-com...
- AIBEA asks RBI to come up with mechanism to protect consumersIn the memorandum submitted to govt & RBI, AIBEA alleged that the Centre was pushing customers to take to digital transactions, but banks d...
- When real currency is not legal tender and other watch outs to avoid money lossHere are 10 points you should know about exchanging soiled notes and when currency ceases to become legal tender, taken from an RBI master ...
- RBI issues draft master circular for revised PPI normsThe regulator has also proposed making PPIs interoperable across the banking system but only after the entity meets all the regulatory crit...
- RBI makes exchange of damaged currency notes hassle-freeExchanging soiled and damaged currency notes with fresh ones has been made easier with the Reserve Bank asking banks to set up facilities i...
- RBI seeks public comments on master circular on FDIBanking regulator Reserve Bank on Monday invited public comments on draft master circular on foreign investment.
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