RTGS money transfer to be available 24X7 from December
Business | October 09, 2020 12:15 ISTIn December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis.
In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis.
Reserve Bank of India (RBI) Monetary Policy Committee decided to hold key policy rates unchanged at existing levels on Friday amid high inflation, said Governor Shaktikanta Das. Three new external members in the panel voted in today's decision.
Equity benchmark Sensex jumped over 100 points in opening trade on Friday ahead of the Reserve Bank of India's monetary policy decision. T
The newly-constituted Monetary Policy Committee (MPC) of the Reserve Bank began its three-day deliberations on Wednesday, amid expectations that the central bank will maintain status quo on the benchmark lending rates in view of hardening inflation.
The government on Wednesday appointed M. Rajeshwar Rao as the Deputy Governor of the Reserve Bank of India (RBI), it said in a notification. Rao is currently an Executive Director with the central bank.
The Reserve Bank of India will announce the monetary policy on October 9 as the Monetary Policy Committee (MPC) will meet during October 7-9.
The appointment has come after the government faced widespread criticism over failing to act on time to appoint an external panel to the Monetary Policy Committee (MPC).
The Supreme Court Monday asked the Centre and the RBI to place on record the KV Kamath committee recommendation on debt restructuring due to COVID-19 related stress on various sectors as also the notifications and circulars issued by them so far on the issue of loan moratorium.
The Confederation of All India Traders (CAIT) on Sunday said that the RBI had affirmed the possibility of currency notes as potential carriers of novel coronavirus and demanded government incentives for digital payments.
The Centre has agreed to waive off compounded interest for loans up to Rs 2 crore, frozen by the Reserve Bank of India (RBI) in a six-month moratorium granted because of the coronavirus pandemic, the government has told Supreme Court in an affidavit.
The all-India House Price Index (HPI) rose 2.8 per cent in the first quarter of the current financial year on an annual basis, according to data released by the Reserve Bank of India.
The central bank, however, did not give any reason for rescheduling the meet. The interest-setting panel was scheduled to meet for three-days beginning Tuesday for RBI’s bi-monthly monetary policy review.
The role of Reserve Bank of India (RBI) in the Board of Directors of Dhanlaxmi Bank (originally Dhanalakshmi Bank) should be reviewed, said a top official of the largest union in the banking sector.
In order to check banking fraud, the Reserve Bank of India has decided to introduce from January 1, 2021, the 'positive pay system' for cheque, under which re-confirmation of key details may be needed for payments beyond Rs 50,000.
RBI board member Manish Sabharwal, who is the chairman of Teamlease Services, also said the country needs immediate reforms in banking, compliance, labour laws and education because "hope is not a strategy".
The Reserve Bank of India (RBI) on Monday announced that it will conduct simultaneous purchase and sale of government securities under the Open Market Operation (OMO) for Rs 10,000 crore each on September 10, the central bank said.
The Reserve Bank on Saturday came up with revised long format audit report (LFAR) norms with a view to improving efficacy of internal audit and risk management systems.
The Reserve Bank of India (RBI) on Friday released its revised priority sector lending guidelines wherein the credit limits have been raised for farmer producer organisations, renewable energy and for health infrastructure.
The Reserve Bank of India (RBI) has approved the appointment of Murali Ramakrishnan as the MD and CEO of South Indian Bank with effect from October 1.
As per the latest RBI guidelines, a bank opening a dedicated current account of any company with Rs 50 crore or more in debt must have at least 10 per cent loan exposure in the concerned business entity.
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