These Directions shall apply to transactions of all participants in markets for financial instruments but shall exclude transactions executed through the recognized stock exchanges under and in accordance with the regulations of the Securities and Exchange Board of India. These Directions shall not apply to the Bank and the Central Government in furtherance of monetary policy, fiscal policy or other public policy objectives.
A regulatory sandbox (RS) usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain regulatory relaxations for the limited purpose of the testing. The RS allows the regulator, the innovators, the financial service providers (as potential deployers of the technology) and the customers (as final users) to conduct field tests to collect evidence on the benefits and risks of new financial innovations, while carefully monitoring and containing their risks. It can provide a structured avenue for the regulator to engage with the ecosystem and to develop innovation-enabling or innovation-responsive regulations that facilitate delivery of relevant, low-cost financial products.
Financial services, including banking services, are at the cusp of a revolutionary change driven by technological and digital innovations. A rapidly growing number of financial entities and technology firms are experimenting with related technological and financial solutions as well as new products in the financial services field which either modifies the way financial intermediation takes place or leads to disintermediation.
The rates are applicable for deposits of below Rs. 1 crore. As per 1st March 2019 Bank of India Investment Period FD rates for Regular deposits FD rates for Senior Citizen 7 […]
21.02.2019 – Banning of Unregulated Deposit Ordinance-2019, exempts Individual, Firm, Companies & LLP etc. for taking any loan and deposit for their course of business as per section 2(4) e,f,l and other provisions. Chit […]
RBI merged three categories of NBFCs, asset finance, loan companies and investment companies into one category called NBFC-ICC
The Reserve Bank of India (RBI) has merged three categories of NBFCs — asset finance, loan companies and investment companies — into one new category called NBFC-investment and credit company (NBFC-ICC) to ease operational flexibility of these institutions.
The Reserve Bank of India decided to transfer an interim dividend of Rs 28,000 crore to the government in the financial year 2018-19
“Based on a limited audit review and after applying the extant economic capital framework, the board decided to transfer an interim surplus of Rs 28,000 crore to the central government for the […]
SUPREME COURT OF INDIA FULL BENCH ( Before : P.B. Gajendragadkar, C.J; V. Ramaswami, J; M. Hidayatullah, J; K. N. Wanchoo, J ) ALL INDIA RESERVE BANK EMPLOYEES ASSOCIATION — Appellant Vs. […]
RBI/2018-19/100 DBR.No.BP.BC.18/21.04.048/2018-19 January 1, 2019 All banks and NBFCs regulated by the Reserve Bank of India Dear Sir/ Madam, Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances 1. Please […]
The Reserve Bank has released guidelines on tokenisation for debit/credit/ prepaid card transactions as a part of its continuous endeavour to enhance the safety and security of the payment systems in the […]
SCHEDULED BANKS UNDER RBI ACT Ajodhia Bank, Fyzabad, Allahabad Bank. American Express Banking Corp. American Express International Banking Corporation. Andhra Bank, Masulipatam. Bank of America, National Association. Bank of Baroda Bank of […]
The Reserve bank of India is neither autonomous nor independent and directors are simple government servant by their appointment.
RBI guidelines for Prepaid Payment Instruments for Interoperability u/s 18 & 10(2) of the Payment and Settlement Systems Act, 2007
Prepaid Payment Instruments (PPIs) – Guidelines for Interoperability RBI/2018-19/61 DPSS.CO.PD.No.808/02.14.006/2018-19 October 16, 2018 All Prepaid Payment Instrument Issuers, System Providers and System Participants Madam / Dear Sir, Prepaid Payment Instruments (PPIs) – […]
RBI cancels Certificate of Registration of several NBFCs U/S 45-IA (6) of Reserve Bank of India Act, 1934
Date : Oct 23, 2018 RBI cancels Certificate of Registration of 31 NBFCs The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank […]
Sep 18, 2018: Three state-run banks – Dena Bank, Vijaya Bank and Bank of Baroda – will be merged to create the third-largest bank in the country, the government said on Monday, […]
1. Revision in Interest Rates On Retail Domestic Term Deposits (Below Rupees One Crore) w.e.f. 30.07.2018 Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees One Crore ‘have been revised. The revised […]
The Reserve Bank acts in close co-ordination with other regulators, such as, Registrar of Co-operative Societies and Central Registrar of Co-operative Societies. The Reserve Bank enters into Memorandum of Understanding (MoU) with […]
India has financial institutions which are not banks but which accept deposits and extend credit like banks. These are called Non-Banking Financial Companies (NBFCs) in India. At end-March 2017, there were 11,522 […]