RBI guidelines News

New RBI Guidelines For ATM Transactions: The number of free transactions remains unchanged and continues to apply to savings account holders across all banks in India. 

Rs 500 Note: The Reserve Bank of India (RBI) has provided guidelines to help customers distinguish between genuine and counterfeit Rs 500 notes. Here’s how to verify if the Rs 500 note in your wallet is authentic or not.   

As per the April guidelines of RBI, an SFB aiming to become a universal bank should have a minimum net worth of Rs 1,000 crore at the end of the previous quarter and shares of the bank should have been listed on a recognised stock exchange. 

The government will have the option to retain additional subscriptions up to Rs 2,000 crore against each of the three securities.

The RBI specifies that the digital view should include essential details such as the name of the bank or NBFC extending the loan.

To transfer money HDFC Bank customers can utilize alternative transaction methods like Immediate Payment Service (IMPS), Real Time Gross Settlement (RTGS), and Unified Payments Interface (UPI).

RBI ordered all regulated entities to implement the guidelines by December 31, 2023 and inform all existing customers/borrowers about the reset option of floating interest rate for EMI available to them.  

RBI has issued a new guideline for crores of people using UPI. According to the new guideline of RBI, now you will be able to pay through UPI even on zero balance.

Monthly plan was removed earlier this year by Amazon because of the new guidelines from the Reserve Bank of India. Monthly plan of Amazon prime can only be purchased via banks that have implemented guidelines Banks are asked to deploy one time AFA for recurring payments up to Rs 5,000 under the new RBI guidelines.

The central bank had issued guidelines on the compensation of whole-time directors/ chief executive officers/ material risk takers and control function staff in November 2019. In terms of the extant guidelines, share-linked instruments are required to be fairly valued on the date of grant using the Black-Scholes model.

The new change means that customers debit cards or credit cards will have to give their 16-digit card number every time they make a transaction. This new change is expected to take place from January 2022. The apex bank was supposed to bring in the new guidelines in July.

The 3-day closure of banks will not happen one after another as the first bank holiday will happen on Sunday (May 23, 2021). Moreover, the banks will remain shut on May 30 as it is Sunday. The bank branches will remain shut in Andaman and Nicobar, Arunachal Pradesh, Chandigarh, Chhattisgarh, Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Ladakh, Madhya Pradesh, Maharashtra, Sikkim, Tripura, Uttar Pradesh, Uttarakhand and West Bengal.

With social distancing being the new normal, VKYC enables a customer to undergo a completely presence-less journey, without the need to physically interact with anyone.

Reserve Bank of India (RBI) has issued guidelines on Compensation for Whole Time Directors/ Chief Executive Officers/ Material Risk Takers and Control Function staff. The guideline will be applicable on all private sector banks, including local Area Banks, Small Finance Banks, Payments Banks, and Foreign Banks operating in India.

The finance minister was responding to a question seeking names of companies whose loans have been restructured and at what terms.

The Reserve Bank (RBI) had put gross bad loans on the bank's balancesheet at Rs 31,691.67 crore by 2016 March-end, which works out to a difference of Rs 6,816.60 crore.

In order to provide breather to construction sector, the Reserve Bank is likely to come out soon with detailed norms for one-time settlement of loans in line with the Cabinet decision.

The Reserve Bank has issued new guidelines on ownership in private sector banks by bundling shareholding patterns into two broad categories of individuals (natural persons) and legal entities/institutions, but retained the cap on foreign ownership at 74 percent.

The new RBI guidelines will allow banks to acquire majority equity stakes in corporates that are unable to honour their debt commitments. And acquiring a majority stake would make it easier for the banks to install new company management.