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RBI Releases guidelines for On tap Bank Licence

BE/RBI/5/2016 – What is On Tap licence? On-tap licensing means that the window for getting a bank license from RBI is open throughout the year. Earlier, RBI used to invite applications for giving bank licenses, and prospective players submitted their applications within a fixed time-frame as prescribed by RBI. This arrangement was not open all

RBI Releases guidelines for On tap Bank Licence

BE/RBI/5/2016 – What is On Tap licence? On-tap licensing means that the window for getting a bank license from RBI is open throughout the year. Earlier, RBI used to invite applications for giving bank licenses, and prospective players submitted their applications within a fixed time-frame as prescribed by RBI. This arrangement was not open all

Room for RBI to cut Rates: PMI (Purchasing Managers’ Index)

BE/RBI/6/2016 – Manufacturing sector showed a speedy growth in four months in July on account of flooding new orders, though job market remained muted and inflationary pressure was subdued. This is expected to bring on hopes of the RBI Governor Raghuram Rajan cutting rates as a parting gift, as per PMI survey released.  The Nikkei

Room for RBI to cut Rates: PMI (Purchasing Managers’ Index)

BE/RBI/6/2016 – Manufacturing sector showed a speedy growth in four months in July on account of flooding new orders, though job market remained muted and inflationary pressure was subdued. This is expected to bring on hopes of the RBI Governor Raghuram Rajan cutting rates as a parting gift, as per PMI survey released.  The Nikkei

FEMA Violations – RBI levies Rs 27 crore penalty on 13 banks

Taking its feet on gross violation of FEMA guidelines and KYC norms, RBI has imposed Rs 27-crore penalty on 13 public and private sector banks, which includes PNB and HDFC Bank.  However, eight other banks including SBI and ICICI Bank have been advised to ensure strict compliance with guidelines. A public sector bank reports, that,

FEMA Violations – RBI levies Rs 27 crore penalty on 13 banks

Taking its feet on gross violation of FEMA guidelines and KYC norms, RBI has imposed Rs 27-crore penalty on 13 public and private sector banks, which includes PNB and HDFC Bank.  However, eight other banks including SBI and ICICI Bank have been advised to ensure strict compliance with guidelines. A public sector bank reports, that,

RBI IMPOSES PENALTY OF Rs. 5 CRORES ON BANK OF BARODA

The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 crore on Bank of Baroda (BoB).  It observed irregularities in the Rs 6,100-crore scam that was unearthed last year. “The Reserve Bank of India has imposed a penalty of INR 50 million on Bank of Baroda.  This was imposed after the internal

RBI IMPOSES PENALTY OF Rs. 5 CRORES ON BANK OF BARODA

The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 crore on Bank of Baroda (BoB).  It observed irregularities in the Rs 6,100-crore scam that was unearthed last year. “The Reserve Bank of India has imposed a penalty of INR 50 million on Bank of Baroda.  This was imposed after the internal

RBI permits Foreign Investors to buy PNB Shares

The curb imposed on fresh purchase of shares of State owned Punjab National Bank, by foreign Investors, for over 7 years, has been lifted by RBI. The RBI notified that the total foreign share holdings by foreign institutional investors/NRIs/PIOs/FDI and others under Portfolio Investment Scheme (PIS) in Punjab National Bank has come down below the

RBI permits Foreign Investors to buy PNB Shares

The curb imposed on fresh purchase of shares of State owned Punjab National Bank, by foreign Investors, for over 7 years, has been lifted by RBI. The RBI notified that the total foreign share holdings by foreign institutional investors/NRIs/PIOs/FDI and others under Portfolio Investment Scheme (PIS) in Punjab National Bank has come down below the