Tag Archives: RBI

RBI panel to study on public credit registry

Reported by | Updated: August 3, 2017

The Reserve Bank of India has set up a committee to consider creation of a Public Credit Registry (PCR) to be operated by it. Deputy governor Viral Acharya said the proposed registry will be near real-time and will aid credit assessment not just by lenders but of the lenders themselves. It is expected to be […]

RBI group to study MCLR

Reported by | Updated: August 3, 2017

The Reserve Bank of India (RBI) has constituted an internal group to study the Marginal Cost of Funds based Lending Rate, or MCLR, to improve monetary policy transmission. RBI said in a statement the experience with the MCLR system introduced in April 2016 for improving the monetary transmission has not been entirely satisfactory, even though […]

RBI wants all banks to do cyber audit

Reported by | Updated: August 1, 2017

The Reserve Bank of India is proposing cyber audits of all banks, according to officials of the central bank. It had earlier stipulated that some few large banks should undertake such audits. RBI also said banks, which do not have strict security safeguards, would be allowed time to comply with the standards set by it. […]

Cleaning the mess

Reported by | Updated: July 31, 2017

The recently promulgated ordinance to amend the provisions of the Banking Regulation Act of 1949 is a welcome legislation for the banking fraternity. It provides enormous powers to RBI to intervene in issues relating to distressed assets of banks, including directing banks to file bankruptcy cases against defaulters without even having to wait for the […]

RBI to hire note verification system

Reported by | Updated: July 26, 2017

The Reserve Bank of India will hire currency verification systems to help it detect fake notes among the scrapped Rs 500 and Rs 1000 notes that were deposited following the demonetization. The central bank is said to be counting these old currency notes. It has floated a tender floated to lease the verification systems. The […]

New RBI directive on provisioning

Reported by | Updated: June 26, 2017

Banks must make higher provisions against cases that are referred for bankruptcy proceedings, according to directive of the Reserve Bank of India. The central bank has told banks to set aside 50% of the loan amount as likely losses for all cases referred to the National Company Law Tribunal, which is the arbitration authority under […]

RBI appoints more members in oversight committee

Reported by | Updated: June 23, 2017

The Reserve Bank of India has increased the number of members in the oversight committee set up to handle stressed assets of banks. The RBI has also empowered the committee to approve stressed asset cases where banks have more that Rs 500 crore exposure. RBI said it is naming M.B.N. Rao, former CMD of Canara […]

RBI wants banks to facilitate account number portability

Reported by | Updated: May 31, 2017

The Reserve Bank of India is pushing for account number portability in the banking sector. RBI’s deputy governor S.S. Mundra told a conference in Mumbai that banks should work towards allowing customers to move seamlessly between banks without having to change their account numbers. Mundra said technological innovation and linking accounts to Aadhaar have made […]

RBI advertises for deputy governor

Reported by | Updated: May 26, 2017

The Reserve Bank of India has released an advertisement calling for applications for the position of a deputy governor. This is for the first time that an advertisement has been issued in newspapers for the position. The advertisement said the central bank needs candidates with over 15 years of experience in banking and financial market […]

RBI announces new measures to control NPAs

Reported by | Updated: May 23, 2017

The Reserve Bank of India has reconstituted the oversight committee in the light of the Banking Regulation Ordinance 2017 to include more members so that the it can constitute requisite benches to deal with the volume of cases referred to it. The committee set up the Indian Banks Association had 2 members. RBI said it […]

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