BE/RBI/16/2017 LENDERS SHOULD HAVE CFOs, CTOs Banking Sector has been witnessing various changes in the recent past.  Banks are expected to have people devoted fully for handling the functions of CFOs and CTOs, which is not yet complied with by many of the Banks.   Now RBI has come out with yet another change in the

BE/RBI/15/2017 Presently, bank notes are printed and coins minted at four security presses which are received at 19 issue offices of RBI.  From RBI they are further distributed to 4,000 currency chests operated by RBI.  Also, the soiled and unfit notes are withdrawn by banks and remitted in the chests. Across over 4,000 currency chests

POSSIBLE 25 BASIS POINT RATE CUT BY RBI The Central Bank had kept the Repo Rates unchanged in the Monetary Policy Committee (MPC) meeting and changed the Reverse Repo Rate by a quarter point. The current weak growth and softening side of inflation rate might influence the Central Bank to cut policy rates by 25

The Central Bank has preferred to keep the Repo Rates unchanged in the Monetary Policy Committee (MPC) meeting.  However, it changed the Reverse Repo Rate to 6% which is the rate paid by RBI for excess deposits kept, by a quarter point. The purpose of doing so was with a view to decrease the alteration

(1) Note Denomination: RBI during the grace period allowed Indian Citizens residing in India who were abroad during November –December 2016 to exchange the old 500 and 1000 rupees notes upto 31st March 2017 and Indian Citizens who are residents outside India upto June 2017.   There was a complaint about the long queues at RBI