Reserve Bank of India (Prudential Norms on Capital Adequacy for Local Area Banks) Directions, 2021
The Reserve Bank of India has issued the Reserve Bank of India (Prudential Norms on Capital Adequacy for Local Area Banks) Directions,
RBI
Mergers & Acquisitions (M&A) | CCI gives approval for acquisition of shareholding in HDFC Ergo General Insurance Co. Ltd. by HDFC Bank Ltd.
Acquisition approval by Competition Commission of India The Competition Commission of India (CCI) approves acquisition by HDFC Bank Limited (Acquirer) of shareholding
RBI issues Master Directions- RBI (Transfer of Loan Exposures) Directions, 2021
On September 24, 2021, the Reserve Bank of India (RBI) has issued the Reserve Bank of India (Transfer of Loan Exposures) Directions,
Interest on advance payment must not exceed 100 basis point above LIBOR rate
On September 08, 2021, the Reserve Bank of India has notified the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations,
Will the year of Cryptocurrency ever arrive in India?
by Swarnendu Chatterjee† & Yashika Bhardwaj††
Crypto Frauds | Allegations of cheating in Bitcoin transactions: Magistrate, Tis Hazari Courts directs Delhi Police to register FIR and investigate
Abhinav Pandey, MM, Tis Hazari Court directs Delhi Police to lodge FIR and investigate allegations of fraud in crypto transactions. Complainant sought
Del HC | If a person is incapacitated and relative taking care of his medical expenses requires money from his bank account, is that permitted under law? Can Bank permit withdrawal of money? Read on
Delhi High Court: Prateek Jalan, J., reiterated the position of law laid down in the decision of Vandana Tyagi v. GNCTD, [WP
Bom HC | Board of Directors of Co-operative Bank: Power of Registrar of Co-operative Societies under Maharashtra Co-operative Societies Act & RBI’s role || Detailed Report
Bombay High Court: The Division Bench of R.D. Dhanuka and V.G. Bisht, JJ., while addressing the instant matter, expressed that: The Registrar,
RBI |Cheque Truncation System for faster clearing of cheques to extend in all bank branches by September 30, 2021
Extension of Cheque Truncation System (CTS) across all bank branches in the country. What is Cheque Truncation System (CTS)? Cheque Truncation System
Can foreigners transfer/dispose of immovable property situated in India by sale or mortgage without RBI’s prior permission? SC explains the true import of Section 31 of FERA, 1973
“Merely because no provision in the Act makes the transaction void or says that no title in the property passes to the purchaser in case there is contravention of the provisions of Section 31, will be of no avail. That does not validate the transfer referred to in Section 31, which is not backed by “previous” permission of the RBI.”
RBI | Digital Payment Security Controls: Master Direction on minimum standards of security controls for digital payment
Master Direction on Digital Payment Security Controls The Master Direction provides necessary guidelines for the Regulated Entities (Scheduled Commercial Banks, Small Finance
RBI | Primary (Urban) Co-operative Banks shall not provide or renew director-related loans
The Banking Regulation Act, 1949 has been amended by the Banking Regulation (Amendment) Act, 2020 notified for the Primary (Urban) Co-operative Banks
Centre notifies Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021
Central Government, after consultation with the Reserve Bank, hereby makes the following Scheme further to amend the Nationalised Banks (Management and Miscellaneous
RBI | Withdrawal of circulars – on Recovery of excess pension made to pensioners
It has been brought to the notice of RBI that the recovery of excess /wrong pension payments from the pensioners are being
CIC | Information re officers carrying out orders of Govt. can be redacted by CPIO under RTI Act: CIC in matter concerning Aadhar seeding with bank accounts
Central Information Commission (CIC): Suresh Chandra, (Commissioner) held that “Section 10 RTI Act reveals that the power of severing the information disclosable
RBI introduces Legal Entity Identifier for Large Value Transactions in Centralised Payment Systems
Legal Entity Identifier The Legal Entity Identifier (LEI) is a 20-digit number used to uniquely identify parties to financial transactions worldwide. It
RBI permits banks to open specific accounts without any restrictions
Opening of Current Accounts by Banks On a review, it has been decided to permit banks to open specific accounts which are
RBI | India becomes one of the few countries in the world to operate its RTGS system round the clock throughout the year
Reserve Bank had announced in the Statement on Developmental and Regulatory Policies dated October 09, 2020, that the Real Time Gross Settlement System
Introduction of Cooling Period: RBI
Cooling Period To inculcate discipline and encourage the submission of applications by serious players as also for effective utilisation of regulatory resources,
RBI | Positive Pay System shall be implemented from January 01, 2021: Read about Positive Pay System
Under this process, the issuer of the cheque submits electronically, through channels like SMS, mobile app, internet banking, ATM, etc., certain minimum details of that cheque (like date, name of the beneficiary/payee, amount, etc.) to the drawee bank, details of which are cross-checked with the presented cheque by CTS.