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Instruction for Safety of Lockers in Banks
Reserve Bank of India (RBI) has issued instructions to banks regarding the safety of bank lockers for exercising due care and necessary precaution for the protection of the lockers provided to the cus...
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Audit of Banks- RBI issued guideline for Audit and Auditor appointment
With regard to Statutory Audit, Reserve Bank of India (RBI) has informed that it has issued Guidelines for appointment of Statutory Central Auditors (SCAs) and Statutory Branch Auditors in Public Sect...
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Control and resolution of NPAs
The Gross Advances of Scheduled Commercial Banks (SCBs) increased from Rs.25,03,431 crore as on 31.3.2008 to Rs. 68,75,748 crore as on 31.3.2014, as per the Global Operations Data of the Reserve Bank...
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Several ATMs shown no-cash boards- Government aware of situation
Cash in ATMsThe Government is aware of the newspaper reports that several ATMs have shown no-cash boards.RBI has informed that the increase in demand for currency recently, which led to high ATM usage...
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Bankwise Gross NPA ratio of Public Sector Banks as on 31.03.2018
Profit, losses, GNPAs of Public Sector Banks Asset Quality Review (AQR) carried-out in 2015 for clean and fully provisioned bank balance-sheets revealed high incidence of NPAs. Expected losses on stre...
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RBI Cautions about Fictitious Emails
Reserve Bank of India has been periodically reiterating about the activities of unscrupulous elements using the name of RBI and defrauding the common public. These elements use fake letter heads of RB...
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Draft ICSI Guidance on Diligence Report on Governance for Banks
Institute of Company Secretaries of IndiaPD, PP&S/BM/18Dear Professional Colleagues,With a view to facilitate capacity building of its members desirous of issuing Diligence Reports, ICSI has come up w...
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Government / RBI taken all steps to meet unusual currency demand
Press Information BureauGovernment of IndiaMinistry of Finance17-April-2018 13:41 ISTGovernment reviews the currency circulation in the countryGovernment and RBI have taken all steps to meet unusual d...
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Privacy, data leak, data trail, strategic issues to need RBI focus on crypto currency: ASSOCHAM
Describing the RBI move to explore and examine introduction of official virtual currency in the country, the ASSOCHAM has, however, cautioned that extreme care be taken to ensure safety of the data tr...
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Linking of SWIFT to Core Banking System to avoid misuse
Linking of SWIFT to the Core Banking SystemDepartment of Economic Affairs has apprised that in pursuance to the announcement made in the Budget Speech 2018-19 (para75), a Steering Committee on Fintech...
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Fulfilled obligations under PML Rules: RBI to NBFCs
Non-Compliant NBFCs which have not fulfilled their obligations under PML Rules asked to do soPrevention of Money Laundering Act, 2002 (PMLA) and the Rules impose obligation on reporting entities (RE’s...
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CBI Arrests Kolkata Based Private Company directors in Bank fraud case
CBI ARRESTS TWO DIRECTORS OF A KOLKATA BASED PRIVATE COMPANY IN AN ON-GOING INVESTIGATION OF A BANK FRAUD CASE OF Rs.515.15 CRORE(APPROX)Press Release New Delhi, 15.03.2018The Central Bureau of Invest...
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Report of RBI Working Group on Fin Tech and Digital Banking Companies
Report of RBI Working Group on Fin Tech an& Digital Banking CompaniesEcosystem for Fin Tech CompaniesThe Reserve Bank of India (RBI) had set up an inter-regulatory Working Group (WG) to look into and...
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Banking Regulatory Powers Should Be Ownership Neutral
(Urjit R. Patel, Governor, Reserve Bank of India – March 14, 2018 – Inaugural Lecture : Centre for Law & Economics, Centre for Banking & Financial Laws Gujarat National Law University, Gandhinagar)I s...
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PNB clarification -Rs. 942 cr not new fraud but recall of credit limits: Geetanjali Group
Punjab National BankShare Department, Finance Division, HO Plot No. 4Sector 10, Dwarka, New Delhi-110075Tel Nos : 011-28044866 E-mail : hosd@pnb.co.inScript Code : PNBScript Code : 532461The Asst. Vic...
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Security & operational controls in SWIFT environment to prevent fraud in Banks
Security and operational controls in SWIFT environmentReserve Bank of India (RBI) has apprised that it had issued two circulars to banks, related to security and operational controls in SWIFT (Society...
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Limit collateral damage from bank frauds: ASSOCHAM
All out efforts must be made by banks, regulators, government and India Inc to limit the collateral damage from the alleged fraud in PNB, said the ASSOCHM today, cautioning over-reaction by the banks...
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Govt clarifies on undue advantage due to 20:80 scheme of gold imports
Government Issues Clarification on Gold Imports SchemeThe past few days have seen some misapprehensions being generated on the scheme of gold imports known as the 80:20 scheme. The factual position is...
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Action taken by ICAI on PNB matter- An Update
Press Release – Action taken by ICAI on PNB matter-An Update – (09-03-2018)The Institute of Chartered Accountants of IndiaPress ReleaseThe Institute of Chartered Accountants of India (ICAI) is a statu...
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Amendment in definition of ‘foreign source’ under FCRA
Press Information Bureau Government of IndiaMinistry of Home Affairs07-March-2018 16:44 ISTAmendment in FCRA It is a fact that political parties cannot receive contribution from any foreign source as...