RBI

Case BriefsSupreme Court

“Merely because no provision in the Act makes the transaction void or says that no title in the property passes to the purchaser in case there is contravention of the provisions of Section 31, will be of no avail. That does not validate the transfer referred to in Section 31, which is not backed by “previous” permission of the RBI.”

Reserve Bank of India
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Master Direction on Digital Payment Security Controls The Master Direction provides necessary guidelines for the Regulated Entities (Scheduled Commercial Banks, Small Finance

Reserve Bank of India
Business NewsNews

The Banking Regulation Act, 1949 has been amended by the Banking Regulation (Amendment) Act, 2020 notified for the Primary (Urban) Co-operative Banks

Legislation UpdatesNotifications

Central Government, after consultation with the Reserve Bank, hereby makes the following Scheme further to amend the Nationalised Banks (Management and Miscellaneous

Reserve Bank of India
Business NewsNews

It has been brought to the notice of RBI that the recovery of excess /wrong pension payments from the pensioners are being

Business NewsHot Off The PressNews

Legal Entity Identifier The Legal Entity Identifier (LEI) is a 20-digit number used to uniquely identify parties to financial transactions worldwide. It

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Opening of Current Accounts by Banks On a review, it has been decided to permit banks to open specific accounts which are

Reserve Bank of India
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Reserve Bank had announced in the Statement on Developmental and Regulatory Policies dated October 09, 2020, that the Real Time Gross Settlement System

Hot Off The PressNews

Cooling Period To inculcate discipline and encourage the submission of applications by serious players as also for effective utilisation of regulatory resources,

Reserve Bank of India
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Under this process, the issuer of the cheque submits electronically, through channels like SMS, mobile app, internet banking, ATM, etc., certain minimum details of that cheque (like date, name of the beneficiary/payee, amount, etc.) to the drawee bank, details of which are cross-checked with the presented cheque by CTS.

Cabinet DecisionsLegislation Updates

Scheme of Amalgamation The Union Cabinet has given its approval to the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with

Reserve Bank of India
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No fresh permissions/ renewal of permission shall be granted by the Reserve Bank/AD Category-I banks to any foreign law firm for the

Legislation UpdatesNotifications

Reserve Bank of India (RBI) declares that the provisions of Sections 45-IA, 45-IB and 45-IC of the Reserve Bank of India Act,

Reserve Bank of India
Business NewsNews

The Reserve Bank of India has placed in the public domain a draft scheme of amalgamation of The Lakshmi Vilas Bank Ltd. (LVB)

Reserve Bank of India
Business NewsNews

Co-Lending Model “Co-Lending Model” (CLM), is to improve the flow of credit to the unserved and underserved sector of the economy and

Case BriefsTribunals/Commissions/Regulatory Bodies

 Securities Exchange Board of India: G. Mahalingam, Whole-time member retrained the promoters of the Dewan Housing Finance Limited i.e. DHFL from accessing

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There have been several media reports alluding to steep increase in service charges by certain Public Sector Banks (PSBs).  In this context,

Case BriefsHigh Courts

Madras High Court: A Division Bench of Amreshwar Pratap Sahi, CJ and Senthilkumar Ramamoorthy, J., to consider the issue with regard to

Legislation UpdatesStatutes/Bills/Ordinances

Banking Regulation (Amendment) Bill, 2020 received Presidential Assent on 29-09-2020. The Banking Regulation (Amendment) Act, 2020 The Banking Regulation (Amendment) Act, 2020