The RBI, in a notification, said that it is necessary to build a repository of large credits and share with the banks for enabling them to be aware of building leverage and common exposures.
'It's not about individuals operating the mule accounts being more or less skilled. Instead, 'lower-level' refers to the role the individual account plays in the broader mule network.'
Delhi LG V K Saxena has directed police to maintain a digital record of entities purchasing and selling ammonium nitrate and to undertake rigorous security audits of busy markets and ISBTs, days after a blast near the Red Fort.
'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
Markets regulator Sebi has launched a centralised database portal for corporate bonds in a bid to create a single, authentic source of information on such securities. The portal -- Bond Central-- has been developed by Online Bond Platform Providers Association (OBPP Association) in collaboration with Market Infrastructure Institutions (MIIs) comprising stock exchanges and depositories.
'The question for the TMC is not whether it can hold its bastions, but whether it can expand effectively into regions where the BJP already possesses a good ecosystem.'
The Reserve Bank on Wednesday imposed business restrictions on Edelweiss Group's lending and asset reconstruction arms on concerns over evergreening of loans. The central bank has asked ECL Finance Ltd (ECL) to cease and desist from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/or closure of accounts, an official statement said.
Credit Information Report is one piece of information that can tell if you are a defaulter or not
'The largest listenership for Vividh Bharati outside the country is in Spain.' 'The labourers who go there for the tomato-picking season feel cut off from their country and listen to Vividh Bharati to overcome their loneliness.'
This state-of-the-art, energy efficient, captive 'Green Data Centre' would be built as per global standards and would have several innovations, an official spokesman said in Chandigarh on Friday.
The Reserve Bank of India (RBI) has sought details about lenders' exposures to the Adani Group, banking sources said, a day after the conglomerate withdrew the Rs 20,000-crore follow on public offer (FPO) of its flagship firm Adani Enterprises amid the steep fall in its stock prices. On Wednesday, Swiss lender Credit Suisse stopped accepting bonds by Adani group companies as collaterals for margin lending. The going has been tough for the diversified conglomerate over the past week ever since US-based short seller Hindenburg Research levelled a slew of allegations about the group's operations, calling it the biggest corporate con ever.
The Reserve Bank on Wednesday announced the increase of the UPI Lite wallet limit to Rs 5,000 and per-transaction limit to Rs 1,000, in order to encourage wider adoption of the popular instant payment system through mobile phones. A limit of Rs 500 per transaction and an overall limit of Rs 2,000 per UPI Lite wallet, is presently applicable, with the facility of auto-replenishment. Unveiling the October bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das also said the per-transaction limit in UPI123Pay will be enhanced to Rs 10,000 from the current Rs 5,000.
The action is based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, RBI said.
In a major decision, the RBI on Friday announced that UPI payment limit to hospitals and educational institutions will be raised to Rs 5 lakh from Rs 1 lakh at present and hiked the cap for e-mandates for recurring payments to Rs 1 lakh. Unveiling the December bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said the limit for various categories of Unified Payments Interface (UPI) transactions has been reviewed from time to time. "It is now proposed to enhance the UPI transaction limit for payment to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction," he said.
DigiLocker, a government initiative for storing documents and verifying credentials online, is gradually replacing the need for paper.
To capture the information regarding movement of migrants and facilitate the smooth movement of stranded persons across the states, National Disaster Management Authority has developed an online dashboard namely, National Migrant Information System, on the existing NDMA-GIS portal
A three-judge bench headed by Justice AM Khanwilkar, by 2:1 majority, held that the grant of the environmental clearance and the notification for change in land use for the project was valid.
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
Not all NPAs are treated as wilful defaulters.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
The government has amended Aadhaar regulations, specifying that supporting documents need to be updated "at least once" by Aadhaar holders on completion of 10 years from enrolment date.
'Clients deemed higher-risk are required to update their KYC more frequently.'
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
'I assume Ramachandra Guha's neglect of this aspect of Gandhi grows out of the belief that Gandhi's life had no central text,' says Rudrangshu Mukherjee, professor of history, Ashoka University.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
Jaitley said the total gross NPA ratio has gone up to 4.03 per cent in 2013-14 from 3.42 per cent in 2012-13 and 2.94 per cent in 2011-12.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
RBI would like to work on examining the regulatory framework for the voluntary withdrawal by the entrepreneur.
It had been pointed out to the banking regulator that one-day default was difficult to monitor in large companies, especially where cash flows are dependent on government payments.
At this year's TIME ball in New York City on Thursday, April 25, you would have run into a Coimbatore-born American scientist, looking lovely in Sabyasachi Mukherjee designer finery, who would most likely have been hanging out with Dua Lipa.
These companies will first give their proposals for implementing and managing the central information data repository of UIDAI.
Indeed, there were frauds, and the politician-banker-industrialist nexus played a role in the rise of NPAs, but governance issues in Indian banking are far more nuanced and complex, reveals Tamal Bandyopadhyay.
LIC is on board after tying up with all five insurance repositories; 1,50,000 e-Insurance Accounts opened across India till date.
Kunnal Prem, chief executive officer of the Insurance Information Bureau of India, tells Mayank Jain on what they're doing.
Large urban co-operative banks may come to be solely under the provisions of the Banking Regulation Act, even as the smaller among them are to remain within the exclusive fold of the Registrar of Co-operative Societies. The upcoming changes will bring the curtains down on the vexed issue of dual control of UCBs, which has been in vogue for 54 years. The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion.
The government on Monday published a draft data policy for public consultation, which says all data collected, generated, and stored by every government ministry and department will be open and shareable barring certain exceptions. Also, detailed datasets that have undergone value addition could be monetised by the government. The policy document, called "Draft India Data Accessibility & Use Policy 2022", prescribes that a regulatory authority called the Indian Data Council (IDC) and an agency by the name India Data Office (IDO) will oversee framing metadata standards and enforcement, respectively.
The Delhi high court on Monday granted two weeks to the Centre to state its stand on petitions seeking criminalisation of marital rape following Solicitor General Tushar Mehta's submission that the government is neither in favour nor against striking down the immunity granted to husbands under the Indian Penal Code.
If a holiday, banks will have to report the details on the next working day.
The UIDAI, set up in 2009, will manage the generation and authentication of Aadhaar numbers.
Banks given 180-day time for NPA resolution, matter to be referred to Insolvency Board within 15 days.
