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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

Admin Bankedge

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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

Demonetization: One Year Completion Shows Cash Is Still Strong In The Economy

Hopes on pushing the market with a demonetization effect, through a cashless economy is of-course nice to hear.  Has it been effective?  Yes, it is working…… but very slowly.  It has to be agreed though there has been a heavy thrust for using Wallets, Non-UPI Banking apps and Aadhaar enabled payments, they are still to

09 Nov

Demonetization: One Year Completion Shows Cash Is Still Strong In The Economy

Admin Bankedge

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Hopes on pushing the market with a demonetization effect, through a cashless economy is of-course nice to hear.  Has it been effective?  Yes, it is working…… but very slowly.  It has to be agreed though there has been a heavy thrust for using Wallets, Non-UPI Banking apps and Aadhaar enabled payments, they are still to