Nine issues were flagged before the Hon’ble Supreme Court in the case of challenging the Reserve Bank of India ban on dealings of Virtual Currencies business in India. The Apex Court answered eight in favour of RBI; However the Apex court quashed the ban on one single ground. I. POWER OF RBI:- The Petitioners argued … Read More →
Multi-State Cooperative Societies (MSCS) may soon come under the purview of the money laundering act. Earlier this month, the Union government asked MSCS to furnish details of their turnover as a step towards bringing them under the fold of Prevention of Money Laundering Act (PMLA). The societies have been given time till 31st January … Read More →
With the announcement of Reserve Bank of India’s monetary policy statement just a day away, experts believe the central bank is unlikely to cut interest rates on Thursday, as upward risks to inflation still persist. Also, the RBI shifted its policy stance from accommodative to neutral in its February policy review. More than a move … Read More →
The Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) are looking into the breach of investment limit by foreign portfolio investors (FPIs) in HDFC Bank Ltd last week, as well as steps to prevent such violations in the future, a SEBI official said on the condition of anonymity on … Read More →
The Reserve Bank will soon put into circulation new Rs 100 banknotes which will be similar to the design of the ones in Mahatma Gandhi Series-2005. “The Reserve Bank will shortly issue Rs 100 denomination banknotes in the Mahatma Gandhi Series-2005, with the inset letter R in both the number panels, bearing the signature of … Read More →
The Reserve Bank of India (RBI) has infused around 60 per cent of the total banned currency notes after demonetisation. The RBI Governor Urjit Patel told a parliamentary standing committee on finance on Wednesday that the central bank had infused new currency notes worth around Rs 9.2 lakh crore into the system. Currency notes estimated … Read More →
Demonetisation Will Cut Prices, But GDP Growth Will Take a Hit: Manmohan Singh’s Adviser The demonetisation drive will help curb inflation and shore up the fiscal deficit but India can kiss bye to the GDP growth target of 8%, a top economic adviser to former Prime Minister Manmohan Singh told News18. “Finance is like blood … Read More →
25 things RBI wants you to know about Scrapped Rs 500, Rs 1000 notes After the government’s surprise announcement on Tuesday of making Rs 1,000 and Rs 500 banknotes illegal from midnight, the Reserve Bank of India posted a 25-point detailed FAQs explaining the rationale behind the move. The central bank said the most important … Read More →
Rs 500 and Rs 1000 notes banned: Your questions answered by the RBI Why this scheme? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for anti-national and … Read More →
Cap on withdrawals from ATMs policy decision: RBI to HC The Reserve Bank of India has told the Delhi High Court that the cap on the number of withdrawals from ATMs by banking customers without being charged is a policy decision taken in public interest. A bench of Chief Justice G Rohini and Justice Sangita … Read More →