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

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

Team Modi has constituted a  Special Investigation Team in compliance with the judgement of Hon’ble Supreme Court


The Union Cabinet today approved constitution of Special Investigating Team (SIT) to implement the decision of the Hon’ble Supreme Court on large amounts of money stashed abroad by evading taxes or generated through unlawful activities. The SIT will be headed by Hon’ble Mr. Justice M.B. Shah, former Judge of the Supreme Court as Chairman and … Continue reading Team Modi has constituted a  Special Investigation Team in compliance with the judgement of Hon’ble Supreme Court

CHECKS TO BE OBSERVED BEFORE INVESTING IN NBFC AND MC FROM RBI


PLEASE READ THE ARTICLE ON THE CHECKS TO BE CONDUCTED BEFORE INVESTING IN NON BANKING FINANCIAL COMPANIES AND THE MASTER CIRCULAR ISSUED BY THE RESERVE BANK OF INDIA IN THIS REGARD. USEFUL ARTICLE FOR INVESTORS LOG ON TO: http://www.ecopackindia.blogspot.in

RBI DIRECTION ON CHEQUE RETURN CHARGES – Levy Cheque return charges only if customer is at fault


RBI/2012-13/493 DPSS.CO.CHD.No. 2030/03.06.01/2012-2013 May 7, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs /Local Area Banks Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Madam / Dear Sir, Delay in re-presentation of technical return cheques and levy of charges for such returns As … Continue reading RBI DIRECTION ON CHEQUE RETURN CHARGES – Levy Cheque return charges only if customer is at fault

Money laundering by Multinational Banks – Allegations


A sting operation conducted by an online magazine Cobrapost across various branches of private banks has revealed how bank employees are accepting black money from customers to convert them into white money. Cobrapost Editor has insisted that leading private banks like HDFC Bank, ICICI Bank and Axis Bank are involved in this money laundering. The Cobrapost report said its … Continue reading Money laundering by Multinational Banks – Allegations

HOUSING LOAN – MASTER CIRCULAR – RBI – 02-07-2012


Date: Jul 02, 2012 Master Circular – Housing Finance RBI/ 2012-13/73 DBOD. No.DIR.BC.07/08.12.001/2012-13 July 2, 2012 Ashadha 11, 1934, (Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Master Circular – Housing Finance Please refer to the Master Circular DBOD No. Dir. BC. 03 /08.12.001/2011-12 dated July 1, 2011 consolidating the instructions / guidelines issued … Continue reading HOUSING LOAN – MASTER CIRCULAR – RBI – 02-07-2012

Interest rate hike on cards again-RBI


The Reserve Bank today said the option of going for another round of rate hike at its next mid-quarterly policy review in September do exist as inflationary pressure continues in the economy. The present inflation rating is between 9% and 11% and It is further said the short-term target is to bring down headline inflation … Continue reading Interest rate hike on cards again-RBI

INTEREST RATE HIKE-RBI


THE RESERVE BANK OF INDIA MIGHT INCREASE THE REPO RATE AND THE LENDING RATES OF THE BANKS WILL ALSO GO UP. The rate increase is its eleventh since March 2010, making the RBI one of the most aggressive inflation fighters among central banks. This has taken the market by surprise as most analysts expected the … Continue reading INTEREST RATE HIKE-RBI