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
RBI
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.
Cabinet approves Scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited
Scheme of Amalgamation The Union Cabinet has given its approval to the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with
No fresh permissions/ renewal of permission shall be granted by Reserve Bank/AD Category-I banks to any foreign law firm for opening of Liaison Office in India
No fresh permissions/ renewal of permission shall be granted by the Reserve Bank/AD Category-I banks to any foreign law firm for the
RBI | Ss. 45-IA, 45-IB and 45-IC of RBI Act shall not apply to a non-banking financial company which is a Housing Finance Institution
Reserve Bank of India (RBI) declares that the provisions of Sections 45-IA, 45-IB and 45-IC of the Reserve Bank of India Act,
Lakshmi Vilas Bank: RBI announces Draft Scheme of Amalgamation
The Reserve Bank of India has placed in the public domain a draft scheme of amalgamation of The Lakshmi Vilas Bank Ltd. (LVB)
RBI announces Co-Lending by Banks and NBFCs to Priority Sector
Co-Lending Model “Co-Lending Model” (CLM), is to improve the flow of credit to the unserved and underserved sector of the economy and
SEBI | Fraudulent misstatements in financial statements will amount to misrepresentation /unfair trade practice under Regulation 4(2) of SEBI PFUTP Regulations, 2003
Securities Exchange Board of India: G. Mahalingam, Whole-time member retrained the promoters of the Dewan Housing Finance Limited i.e. DHFL from accessing
Ministry of Finance | Factual position in respect to Service Charges levied by banks
There have been several media reports alluding to steep increase in service charges by certain Public Sector Banks (PSBs). In this context,
Madras HC | Is participation of advocates permitted in proceedings before Ombudsman under Banking Ombudsman Scheme, 2006 promulgated by RBI? HC to contemplate
Madras High Court: A Division Bench of Amreshwar Pratap Sahi, CJ and Senthilkumar Ramamoorthy, J., to consider the issue with regard to
Banking Regulation (Amendment) Act, 2020 | Co-operative banks brought under RBI supervision
Banking Regulation (Amendment) Bill, 2020 received Presidential Assent on 29-09-2020. The Banking Regulation (Amendment) Act, 2020 The Banking Regulation (Amendment) Act, 2020
Bom HC | Pension payable to employees upon superannuation is a ‘property’ under Art. 300-A & fundamental right to livelihood under Art. 21: Pension can’t be deducted without authority of law
Bombay High Court: A Division Bench of R.K. Deshpande and N.B. Suryawanshi, JJ., while addressing an issue with regard to the deduction of
Del HC | Bail granted to tycoon accused of money-laundering sums in excess of Rs 2000 crores; Court cites principle of presumption of innocence
Delhi High Court: Anup Jairam Bhambhani J., granted bail to an accused in a money-laundering case involving a sum of more than
Kar HC | Court directs RBI to monitor implementation of the Circular relating to regulatory package during COVID times
Karnataka High Court: Suraj Govindaraj, J., dealt with a petition which was filed in order to enforce the regulatory package announced by
Cabinet approves an ordinance to bring Urban and Multi State Cooperative Banks under the supervision of RBI
While announcing a series of Cabinet Decisions, Union Minister, Prakash Javdekar announced the approval of an ordinance to bring Urban and Cooperative