A press report – RBI Data Shows India’s Bank Fraud is As High As Rs. 60,000 Crore


Reserve Bank of India (RBI) data, which a Reuters reporter obtained through a right-to-information request, shows state-run banks have reported 8,670 "loan fraud" cases totalling Rs. 612.6 billion ($9.58 billion) over the last five financial years up to March 31, 2017.  PNB recorded 389 cases of loan fraud totalling Rs. 65.62 billion over the last five financial years Punjab … Continue reading A press report – RBI Data Shows India’s Bank Fraud is As High As Rs. 60,000 Crore

Reserve Bank cautions regarding risk of virtual currencies including Bitcoins


PRESS RELEASES Date : Dec 05, 2017 Reserve Bank cautions regarding risk of virtual currencies including Bitcoins Attention of members of public is drawn to the Press Release issued by the Reserve Bank of India (RBI) on December 24, 2013, cautioning users, holders and traders of Virtual Currencies (VCs) including Bitcoins regarding the potential economic, financial, operational, … Continue reading Reserve Bank cautions regarding risk of virtual currencies including Bitcoins

Rs.17000 Crores Deposited in 58000 accounts and withdrawn post dmonetisation – investigation is on


The Ministry of Corporate Affairs has said that its investigation has found thousands of dubious banking transactions in the aftermath of note ban on November 8, 2016. The Ministry of Corporate Affairs in a statement said that about Rs 17,000 crore was deposited in 58,000 accounts and withdrawn from the same and some of the … Continue reading Rs.17000 Crores Deposited in 58000 accounts and withdrawn post dmonetisation – investigation is on

Payment systems to remain open on all days from March 25, 2017 to April 1, 2017-RESERVE BANK OF INDIA


RBI/2016-17/257 DPSS.CO.CHD.No./2695/03.01.03/2016-17 March 25, 2017 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including Regional Rural Banks/ Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks A reference is invited to the circulars DPSS.CO.CHD.No./2656/03.01.03/2016-17 dated March 23, 2017 on “Special Clearing operations on March 30 … Continue reading Payment systems to remain open on all days from March 25, 2017 to April 1, 2017-RESERVE BANK OF INDIA

Limits on Cash withdrawals from Bank accounts and ATMs – Restoration of status quo ante – RBI


RBI/2016-17/217 DCM (Plg) No. 2905/10.27.00/2016-17 January 30, 2017 The Chairman / Managing Director / Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks, Regional Rural Banks / Urban Co-operative Banks, State Co-operative Banks / District Central Co-operative Banks Dear Sir/Madam, Limits on Cash withdrawals from Bank accounts and ATMs - Restoration … Continue reading Limits on Cash withdrawals from Bank accounts and ATMs – Restoration of status quo ante – RBI

The daily limit of withdrawal from ATMs has been increased (within the overall weekly limits specified) with effect from January 01, 2017,from the existing ₹ 2,500/- to ₹ 4,500/- per day per card. -RBI


BI/2016-17/204 DCM (Plg) No. 2142/10.27.00/2016-17 December 30, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks District central Cooperative Banks Dear Sir, Cash withdrawal from ATMs – Enhancement of daily limits Please refer to our circular … Continue reading The daily limit of withdrawal from ATMs has been increased (within the overall weekly limits specified) with effect from January 01, 2017,from the existing ₹ 2,500/- to ₹ 4,500/- per day per card. -RBI

RELAXATION OF WITHDRAWAL LIMIT – RBI – IN CERTAIN CASES – WHEN NEW CURRENCY IS DEPOSITED IN LIEU OF BUSINESS OR REGULAR OFFICIAL TRANSACTION


RESERVE BANK OF INDIA RBI/2016-17/163 DCM.No.1437/10.27.00/2016-17 November 28, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks/ District Central Cooperative Banks Dear Sir, Withdrawal of cash from bank deposit accounts - Relaxation It has been … Continue reading RELAXATION OF WITHDRAWAL LIMIT – RBI – IN CERTAIN CASES – WHEN NEW CURRENCY IS DEPOSITED IN LIEU OF BUSINESS OR REGULAR OFFICIAL TRANSACTION

RBI-Withdrawal of cash – Weekly limit


Withdrawal of cash – Weekly limit RBI/2016-17/158 DCM (Plg) No.1424/10.27.00/2016-16 November 25, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks/ District Central Cooperative Banks Dear Sir, Withdrawal of cash – Weekly limit Please refer to … Continue reading RBI-Withdrawal of cash – Weekly limit

Master Circular – Detection and Impounding of Counterfeit Notes


MASTER CIRCULARS Master Circular – Detection and Impounding of Counterfeit Notes RBI/2016-17/22 DCM (FNVD) G–6/16.01.05/2016-17 July 20, 2016 The Chairman / Managing Director, Commercial Banks, Cooperative Banks, RRBs, Private Banks, Foreign Banks and Director of Treasuries of all States Dear Sir / Madam, Master Circular – Detection and Impounding of Counterfeit Notes Please refer to … Continue reading Master Circular – Detection and Impounding of Counterfeit Notes

DEMONITISATION – RBI -FREQUENTLY ASKED QUESTIONS


1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for antinational and illegal activities. High denomination notes have been misused by terrorists … Continue reading DEMONITISATION – RBI -FREQUENTLY ASKED QUESTIONS

Reserve Bank of India Cuts Repo rates and the EMI and interest rates will fall


Reserve Bank cut the benchmark repo rate by 25 basis points today . The reduction in repo rate - which is the rate at which Reserve Bank lends short-term funds to lenders - is likely to result in lower loan EMIs, bankers say. The government has been pitching for lower rates in a bid to … Continue reading Reserve Bank of India Cuts Repo rates and the EMI and interest rates will fall

GOLD BONDS – SOVEREIGN GOLD BONDS !!!! – Safe -Secure -Good – Small investment of 2 Grams – AVAIL THIS OPPORTUNITY


The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/Madam, Sovereign Gold Bonds, 2015-16 It has been decided by the Government of India, as per their Notification F.No. 4(19)-W&M/2014 dated October 30, 2015, to issue Sovereign Gold Bonds, 2015 (“the Bonds”) with effect from November 05, 2015 to November 20, 2015. The Government … Continue reading GOLD BONDS – SOVEREIGN GOLD BONDS !!!! – Safe -Secure -Good – Small investment of 2 Grams – AVAIL THIS OPPORTUNITY

RBI SLASHES THE INTEREST RATE !!!!!!!!!!!!


The Reserve Bank of India`s Governor Shri. Raghuram Rajan, today, cut the benchmark repo rate by 50 basis points to a 4-1/2-year low of 6.75 per cent in a surprise move.

THE REALTY MARKET TREND


  THE REAL ESTATE MARKET PRICE SCENARIO !!! The real estate market is struggling with low demand, low sales and high inventory, except Bengaluru, and the policy makers are of the opinion that the present scenario must end with the developers reducing the prices and that will be a big help to the sector because … Continue reading THE REALTY MARKET TREND

HOME LOAN – HOUSING LOAN – RESERVE BANK OF INDIA`S DIRECTIVES TO BANKS AND FINANCIAL INSTITUTIONS ISSUED ON 01-07-2015


THE RESERVE BANK OF INDIA HAS CLEARLY MANDATED THAT LOAN MUST NOT BE SANCTIONED TO 1). ILLEGAL AND UNAUTHORISED LAYOUTS OR SITES. 2). IRREGULAR AND UNAUTHORISED CONSTRUCTIONS OR BUILDINGS. 3). BUILDINGS WHICH ARE NOT CONSTRUCTED AS PER THE SANCTIONED BUILDING PLAN. RESERVE BANK OF INDIA DIRECTIVES TO BANKS AND FINANCIAL INSTITUTIONS IN RESPECT OF HOME … Continue reading HOME LOAN – HOUSING LOAN – RESERVE BANK OF INDIA`S DIRECTIVES TO BANKS AND FINANCIAL INSTITUTIONS ISSUED ON 01-07-2015

RBI extends the Date for Withdrawal of Pre-2005 Series Banknotes- up to 31-12-2015


Date : Jun 25, 2015 The Reserve Bank of India has extended the date for the public to exchange their pre-2005 banknotes till December 31, 2015. It had, in December 2014, set the last date for public to exchange these notes as June 30, 2015. Soliciting cooperation from members of public in withdrawing these banknotes … Continue reading RBI extends the Date for Withdrawal of Pre-2005 Series Banknotes- up to 31-12-2015

Finance Minister ask Banks to reduce interest rates on loans


THE FINANCE MINISTER HAS ASKED THE BANKS TO PASS ON THE BENEFIT OF REDUCED INTEREST RATES TO BORROWERS, HE WAS REVIEWING THE ANNUAL PERFORMANCE OF PUBLIC SECTOR BANKS FOR THE YEAR 2014-15, THE BORROWERS MAY GET THE BENEFIT OF REDUCED INTEREST FROM 01-7-2015.