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RBI ASKS BANKS TO REVISIT DOCUMENTATION FOR AGRI LOANS

BE/RBI/25/2016 With a view to increase the Farmers’ income to twice than what it is now, RBI has advised Banks to revisit their documentation for crop loans, simplify them wherever required and ensure to speedily sanction and disburse loans within the specified time limits. RBI also advised that the lead bank which acts as the

RBI ASKS BANKS TO REVISIT DOCUMENTATION FOR AGRI LOANS

BE/RBI/25/2016 With a view to increase the Farmers’ income to twice than what it is now, RBI has advised Banks to revisit their documentation for crop loans, simplify them wherever required and ensure to speedily sanction and disburse loans within the specified time limits. RBI also advised that the lead bank which acts as the

Refusal to accept ten rupee coins

BE/RBI/21/2016 RBI has made it clear that the coin was in circulation, saying people should not hesitate in using the TEN RUPEE coins for transactions. According to the availablereports people in UP have openly refused to accept ten rupee coins.  The district magistrate of PILIBHIT has warned of strict action, taking the note of messages

Refusal to accept ten rupee coins

BE/RBI/21/2016 RBI has made it clear that the coin was in circulation, saying people should not hesitate in using the TEN RUPEE coins for transactions. According to the availablereports people in UP have openly refused to accept ten rupee coins.  The district magistrate of PILIBHIT has warned of strict action, taking the note of messages

Associate banks to soon submit report on amalgamation to RBI

BE/RBI/24/2016 As part of the consolidation process within the SBI Group, its five associate banks including State Bank of Bikaner and Jaipur (SBBJ) will soon submit to the Reserve Bank the scheme of acquisition as ratified by shareholders. The board of the directors has considered the report of the expert committee set up to look

Associate banks to soon submit report on amalgamation to RBI

BE/RBI/24/2016 As part of the consolidation process within the SBI Group, its five associate banks including State Bank of Bikaner and Jaipur (SBBJ) will soon submit to the Reserve Bank the scheme of acquisition as ratified by shareholders. The board of the directors has considered the report of the expert committee set up to look

RBI plans fund to push card swipe machines

BE/RBI/23/2016 Concerned over low use of debit cards in electronic payments, the Reserve Bank of India wants banks that are not installing card accepting machines to contribute to a fund that will subsidise installation of point of sales (PoS) terminals. There are over 68-crore debit cards in India. Over a third of these have been added

RBI plans fund to push card swipe machines

BE/RBI/23/2016 Concerned over low use of debit cards in electronic payments, the Reserve Bank of India wants banks that are not installing card accepting machines to contribute to a fund that will subsidise installation of point of sales (PoS) terminals. There are over 68-crore debit cards in India. Over a third of these have been added

Likely Rate cut in next month RBI’s monetary policy

BE/RBI/22/2016 The possibility of a rate hike in December by the US Federal Reserve – the central bank of the United States that controls the country’s money supply – and the expectation of the inflation falling further in India, may give adequate room for the new Reserve Bank of India Governor Urjit Patel to go

Likely Rate cut in next month RBI’s monetary policy

BE/RBI/22/2016 The possibility of a rate hike in December by the US Federal Reserve – the central bank of the United States that controls the country’s money supply – and the expectation of the inflation falling further in India, may give adequate room for the new Reserve Bank of India Governor Urjit Patel to go