Tag "Reserve Bank of India"

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RBI to reconstitute oversight committee to deal with bad loans

The RBI has decided to reconstitute the oversight committee, OC, with more members after the government armed it with additional powers to resolve bad loans with banks that have crossed

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Amazon Diversifying In Indian Play; Injects $10.5M Into India Payments Arm

Amazon Diversifying In Indian Play; Injects $10.5M into India Payments Arm Good news is coming for Amazon India’s payments portal Amazon Pay has received funding worth Rs. 67 crore ($10.46

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RBI issues alert over ransomware, asks banks to run ATMs only after software updation

The Reserve Bank of India has directed banks to operate their ATMs only after updating their operating system. The instructions have been issued with a view to protect them from

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RBI makes substantial changes in norms for dealing with stressed loans

RBI has made substantial changes in the norms for dealing with stressed loans and warned banks they will be penalised for missing Non-Performing Assets (NPA) resolution timelines. RBI, through a

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President promulgates ordinance on empowering RBI on bad loans resolution

President Pranab Mukherjee today gave his assent to an ordinance to amend the Banking Regulation Act for resolution of the non-performing asset (NPA) crisis. This ordinance will give greater powers

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Cabinet approves issuing ordinance to resolve NPAs of banks

The Union Cabinet approved a new framework for dealing non-performing assets (NPAs) in the banking system, details will be announced after President Pranab Mukherjee gives his assent to an ordinance

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RBI says, banks cannot refuse to accept faded or scribbled notes

Reserve Bank of India (RBI) has said, banks cannot refuse to accept faded notes or those with scribbles. In a Circular to banks, RBI said such banknotes have to be

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Parliamentary panel calls RBI Governor Urjit Patel on note ban issue

Reserve Bank of India, Governor, Urjit Patel has been asked by a Parliamentary panel to appear before it again on May 25 over demonetisation issue. Sources said in New Delhi

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Government sets up a panel to examine framework for Virtual Currencies

The Government has set up an Inter-Disciplinary Committee to examine the existing framework with regard to Virtual Currencies. The Committee will take stock of the present status of Virtual Currencies both

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RBI asks all banks to function every day till April 1

New Delhi, March 25: The Reserve Bank of India (RBI) has instructed all nationalised as well as private banks to function every day till 1st April. The RBI in its

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