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AADHAR’S e SIGN AWAITS RBI NOD

The ministry of electronics and IT (MEIT) had written to the Reserve Bank of India (RBI) last week requesting for clear directions from the banking regulator for the use of e-sign — an Aadhaar-based electronic signature mechanism developed by the government. Even though the e-sign system is fully developed and operational, many agencies have apprehensions

AADHAR’S e SIGN AWAITS RBI NOD

The ministry of electronics and IT (MEIT) had written to the Reserve Bank of India (RBI) last week requesting for clear directions from the banking regulator for the use of e-sign — an Aadhaar-based electronic signature mechanism developed by the government. Even though the e-sign system is fully developed and operational, many agencies have apprehensions

WIDER MARKET FOR STRESSED ASSETS

BE/RBI/18/2016 RBI has come out with a scheme, which it expects would result in better realization of stressed assets.  This is expected to widen the market for the sale of stressed assets. Precisely RBI permits the banks, to sell these assets to other banks, non-banking financial companies or any other financial institutions which was hitherto

WIDER MARKET FOR STRESSED ASSETS

BE/RBI/18/2016 RBI has come out with a scheme, which it expects would result in better realization of stressed assets.  This is expected to widen the market for the sale of stressed assets. Precisely RBI permits the banks, to sell these assets to other banks, non-banking financial companies or any other financial institutions which was hitherto

Framework for accreditation of credit counsellors on Cards : RBI

BE/RBI/17/2016 In order to facilitate the MSME (Medium Small and Micro Entrepreneurs), in getting a hassle free credit, the Deputy Governor of RBI Mr. S S Mundra announced that a framework of accreditation of Credit Counsellors will be brought in place.  These Credit Counsellors will facilitate credit availability for small businessmen. SMSE are entrepreneurs who

Framework for accreditation of credit counsellors on Cards : RBI

BE/RBI/17/2016 In order to facilitate the MSME (Medium Small and Micro Entrepreneurs), in getting a hassle free credit, the Deputy Governor of RBI Mr. S S Mundra announced that a framework of accreditation of Credit Counsellors will be brought in place.  These Credit Counsellors will facilitate credit availability for small businessmen. SMSE are entrepreneurs who

Customer not liable if fraud due to bank’s negligence or third

BE/RBI/16/2016 Indeed it is a matter of high regret that cases of unauthorized electronic Banking Transactions are on the increase.  RBI has hence proposed that customer will have no or zero liability in case of fraud being committed because of bank’s negligence or third breach. However, RBI also adds that wherever there is Involvement of

Customer not liable if fraud due to bank’s negligence or third

BE/RBI/16/2016 Indeed it is a matter of high regret that cases of unauthorized electronic Banking Transactions are on the increase.  RBI has hence proposed that customer will have no or zero liability in case of fraud being committed because of bank’s negligence or third breach. However, RBI also adds that wherever there is Involvement of

RBI releases draft guidelines for customer liability in case of fraudulent transactions

BE/RBI/15/2016 RBI has clarified through its draft guidelines, that a customer will not be responsible for frauds occurred in any online transaction, from his/her account outside their control.  Any delay however, from the customer’s end in reporting the fraud within a period of 4 to 7 days about the fraud, would make the customer to

RBI releases draft guidelines for customer liability in case of fraudulent transactions

BE/RBI/15/2016 RBI has clarified through its draft guidelines, that a customer will not be responsible for frauds occurred in any online transaction, from his/her account outside their control.  Any delay however, from the customer’s end in reporting the fraud within a period of 4 to 7 days about the fraud, would make the customer to