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Monetary Policy Committee (MPC) – Lending Rates

BE/RBI/45/2017 The 6-member Monetary Policy Committee (MPC), headed by Governor Urjit Patel of the Reserve Bank of India (RBI) recently has taken a call to keep the Repo or key lending rate unchanged at 6 per cent, however, leaving the inflation concept aloof.  The prediction was on the basis of consumer inflation which increased in October to 3.58

15 Dec

Monetary Policy Committee (MPC) – Lending Rates

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BE/RBI/45/2017 The 6-member Monetary Policy Committee (MPC), headed by Governor Urjit Patel of the Reserve Bank of India (RBI) recently has taken a call to keep the Repo or key lending rate unchanged at 6 per cent, however, leaving the inflation concept aloof.  The prediction was on the basis of consumer inflation which increased in October to 3.58

RBI REVISES NEW DEBIT CARD CHARGES

BE/RBI/44/2017 Reserve Bank of India, has revised the merchant discount rate (MDR) from January 2018, which could compel the retailers to go for cash transactions.  The details are: MDR will be 0.4 per cent of the purchase value or Rs. 200 whichever is lower for shops which generate revenue up to Rs. 20 lacs. For

09 Dec

RBI REVISES NEW DEBIT CARD CHARGES

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BE/RBI/44/2017 Reserve Bank of India, has revised the merchant discount rate (MDR) from January 2018, which could compel the retailers to go for cash transactions.  The details are: MDR will be 0.4 per cent of the purchase value or Rs. 200 whichever is lower for shops which generate revenue up to Rs. 20 lacs. For

Conversion of Debt in to Equity

BE/RBI/43/2017 The Reserve Bank of India had notified the following conditions on Conversion of Debt in to Equity. a) Securitisation Companies / Reconstruction Companies (SC/RCs) are permitted to convert a portion of debt into shares of the borrower company as a measure of asset reconstruction provided their shareholding does not exceed 26% of the post

05 Dec

Conversion of Debt in to Equity

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BE/RBI/43/2017 The Reserve Bank of India had notified the following conditions on Conversion of Debt in to Equity. a) Securitisation Companies / Reconstruction Companies (SC/RCs) are permitted to convert a portion of debt into shares of the borrower company as a measure of asset reconstruction provided their shareholding does not exceed 26% of the post

Linking Aadhar to Bank Accounts

BE/RBI/41/2017 dt 1.12.17 Reserve Bank of India (RBI) has clarified that it is mandatory to link Aadhaar cards to the bank accounts under the Prevention of Money Laundering regulations in the country, the Public Sector Banks’ Officer union has demanded that linking should be put on hold till the Supreme Court comes out with a

01 Dec

Linking Aadhar to Bank Accounts

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BE/RBI/41/2017 dt 1.12.17 Reserve Bank of India (RBI) has clarified that it is mandatory to link Aadhaar cards to the bank accounts under the Prevention of Money Laundering regulations in the country, the Public Sector Banks’ Officer union has demanded that linking should be put on hold till the Supreme Court comes out with a

Special Dividend From Reserve Bank Of India

BE/RBI/40/2017 dt 9.11.17 It is well known that Government has planned to induce fresh capital to the PSU Banks.  In the process, the Government has requested RBI to see the possibility of funding a part of the Rs. 2.11 lakh crore which is the amount planned to recapitalize the PSU Banks. In this context, it

16 Nov

Special Dividend From Reserve Bank Of India

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BE/RBI/40/2017 dt 9.11.17 It is well known that Government has planned to induce fresh capital to the PSU Banks.  In the process, the Government has requested RBI to see the possibility of funding a part of the Rs. 2.11 lakh crore which is the amount planned to recapitalize the PSU Banks. In this context, it