Public Sector Banks are burdened with NPAs of over Rs 6,00,000,00,00,000 /- (Six Lac Crore).

Union Finance Minister Arun Jaitley said on Monday that the Reserve Bank of India (RBI) was at “a fairly advanced stage” of preparing a list of borrowers from whom non-performing assets (NPAs) of public sector banks could be recovered under the Insolvency and Bankruptcy Code. The move, he said, would help beleaguered public sector banks … Continue reading Public Sector Banks are burdened with NPAs of over Rs 6,00,000,00,00,000 /- (Six Lac Crore).

RBI – Information Technology Framework for the NBFC Sector

RBI/DNBS/2016-17/53 Master Direction DNBS.PPD.No.04/66.15.001/2016-17 June 08, 2017 Master Direction - Information Technology Framework for the NBFC Sector In exercise of the powers conferred in terms of clause (b) of sub-section (1) of 45-L of the Reserve Bank of India Act, 1934 (Act 2 of 1934), the Reserve Bank of India being satisfied for the purpose … Continue reading RBI – Information Technology Framework for the NBFC Sector

Legal Entity Identifier for OTC derivatives markets – RBI

Notification - RBI/2016-17/314 FMRD.FMID No.14/11.01.007/2016-17 Introduction of Legal Entity Identifier for OTC derivatives markets The Legal Entity Identifier (LEI) code has been conceived of as a key measure to improve the quality and accuracy of financial data systems for better risk management post the Global Financial Crisis. The LEI is a 20-character unique identity code assigned … Continue reading Legal Entity Identifier for OTC derivatives markets – RBI

RBI Clarification on Banks under Prompt Corrective Action

Press Release: 2016-2017/3288 The Reserve Bank of India has come across some misinformed communication circulating in some section of media including social media, about the Prompt Corrective Action (PCA) framework. The Reserve Bank has clarified that the PCA framework is not intended to constrain normal operations of the banks for the general public. It is … Continue reading RBI Clarification on Banks under Prompt Corrective Action

SBI New Charges – 01.06.2017

Here are all you need to know about the new service charges: All normal saving bank accounts will be entitled to 8 free ATM transactions, which include 5 transactions of SBI ATMs and 3 of other ATMs, in metro cities and 10 free ATM transactions in non-metro cities. For issue of a new ATM card, … Continue reading SBI New Charges – 01.06.2017