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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

29 Sep

Refusal to accept ten rupee coins

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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

28 Sep

Associate banks to soon submit report on amalgamation to RBI

Admin Bankedge

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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

28 Sep

RBI plans fund to push card swipe machines

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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

28 Sep

Likely Rate cut in next month RBI’s monetary policy

Admin Bankedge

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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

FRESH LOOK OF MONETARY POLICY

BE/RBI/20/2016 Now interest rates, will no more be decided by the RBI Governor, as the sole authority. The Government has appointed three members to the Monetary Policy Committee (MPC). The first review meeting is scheduled for October 4 2016. Following are the three academicians occupying the post: Mr. Chetan Ghate, Associate Professor at the Indian

23 Sep

FRESH LOOK OF MONETARY POLICY

Admin Bankedge

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BE/RBI/20/2016 Now interest rates, will no more be decided by the RBI Governor, as the sole authority. The Government has appointed three members to the Monetary Policy Committee (MPC). The first review meeting is scheduled for October 4 2016. Following are the three academicians occupying the post: Mr. Chetan Ghate, Associate Professor at the Indian