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6 January, 2019 12:11 PM Nepal Writes To RBI To Declare New Indian Currency Legal In The Country

Nepal has asked the RBI to declare newly circulated Indian currency notes of denominations higher than Rs 100 legal tender in the country, according to media report on Sunday. The Nepal Rastra Bank (NRB), the country's central monetary authority, wrote a letter on Friday to the Reserve Bank of India (RBI), asking it to make Indian bank bills Rs 200, Rs 500 and Rs 2,000 legal 185

6 January, 2019 5:43 AM "Digital Transactions Not Universal": RBI Told To Solve Dry ATM Issue

A parliamentary panel has asked the Reserve Bank of India to address the problem of perpetually dysfunctional ATMs so as to avoid a situation of forced cash crunch. The Standing Committee on Finance has also asked banks to install adequate number of ATMs. The panel tabled its report in Parliament last week. As per RBI data, there were 2,21,492 Automated 228

2 January, 2019 12:04 PM Extend loan restructuring scheme to MSMEs not yet registered under GST

The RBI on January 1 allowed a one-time restructuring of the existing debt of up to Rs 25 crore for the companies that have defaulted on payments but their loans have continued to be classified as standard assets. The MSME sector on January 2 demanded the RBI's loan restructuring scheme be also extended to the companies not yet registered under the goods 144

2 January, 2019 9:13 AM FSR says worst over for banks, but is it?

Here is wrap of the top highlights of Reserve Bank of India's FSR report, which was released on December 31, 2018. The Financial Stability Report (FSR) released by Reserve Bank of India (RBI) on December 31, 2018, states that the asset quality of public sector banks is improving. While this has come as a big relief to the sector, it is certain that the asset 81

1 January, 2019 12:08 PM Paytm Payments Bank: Back in business

Sakshi Batra gets in conversation with Priyanka Sahay to discuss Paytm Bank coming back to business, the payment bank's strategy going forward and more. After a long wait of six months, the Reserve Bank of India (RBI) allowed the Paytm Payments Bank (PPB) to restart opening accounts for customers. The company will reportedly start the Know Your Customer 144

1 January, 2019 6:02 AM Paytm Payments Bank back in business after RBI nod for account opening

RBI had found slip-ups on Paytm's part regarding statutory norms during a regulatory audit six months ago, and was barred from getting new customers After a long wait of six months, the Reserve Bank of India (RBI) allowed the Paytm Payments Bank (PPB) to restart opening accounts for customers. The company will reportedly start the Know Your Customer 203

31 December, 2018 12:31 PM Old debit cards may not work from January 1, 2019

New Delhi: If you are still carrying your old ATM-cum-debit card with magnetic stripe, there is a possibility that your card will not work tomorrow (January 1). This is because an RBI circular had mandated that all old ATM debit cards with magnetic stripe chip be replaed with with the one with EMV chip before December 31. The Reserve Bank on India had asked 138

28 December, 2018 6:23 AM Govt infuses Rs 2159 crore in United Bank of India

New Delhi: State-owned United Bank of India Thursday said the government has decided to infuse Rs 2,159 crore in the bank as part of Rs 28,615 crore capital infusion to be done in about half a dozen banks. The Finance Ministry had informed the bank about the capital infusion on Wednesday (December 26), United Bank of India said in a regulatory filing 136

26 December, 2018 3:00 PM Former Chief Bimal Jalan To Head Panel On Deciding Size Of RBI Reserves

Over a month after its board decided to form an expert panel to decide on the appropriate size of the RBI's reserves, the central bank today constituted a six-member committee headed by former Governor Bimal Jalan with former secretary Rakesh Mohan as the vice chairman. The panel will include Economic Affairs Secretary Subhash Chandra Garg and RBI Deputy 115

26 December, 2018 1:57 PM RBI launches survey to capture retail payment habits in 6 cities

The Reserve Bank of India (RBI) will capture payment habits of individuals in six cities, including four metropolitan towns. For the purpose, the central bank has launched a 'Survey on Retail Payment Habits of Individuals'. The survey will cover a sample of 6,000 individuals from various socio-economic backgrounds across six cities -- Delhi, Mumbai 85