Tag Archives: Reserve Bank of India

RBI amends Banking Ombudsman Scheme

The central bank has extended the scope of Banking Ombudsman Scheme. The Reserve bank said that under the amended scheme, a customer would also be able to lodge a complaint against the bank for its non-adherence to RBI instructions with regard to mobile banking/ electronic banking services in India. As per the amendment, the pecuniary […]

GST to lower overall taxes in long-term, says RBI governor

Reserve Bank of India governor Urjit Patel today said that the soon-to-be implemented Goods and Services Tax (GST) will not only create a national market but will also broaden the tax base, which in turn will lower the overall taxes in the long-term. Addressing an event organized by IMC Chamber of Commerce and Industry in […]

RBI identifies 12 loan accounts constituting 25% of gross NPAs for immediate resolution under bankruptcy law

The RBI’s Internal Advisory Committee has identified 12 accounts each having more than 5,000 crore rupees of outstanding loans. It accounts for 25 percent of the current gross Non Performing Assets for immediate referral and resolution under the bankruptcy law. The Reserve Bank, in a press release yesterday said its Committee has agreed to focus […]

States keen on farm loan waiver must generate funds from their own resources: Arun Jaitely

Finance Minister Arun Jaitley today said states keen on farm loan waiver must generate funds from their own resources. Speaking after meeting bank chief executives in New Delhi, Jaitley said that the Reserve Bank of India, RBI is at an advanced stage of preparing a list of bad loans where resolution is required under the […]

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