The Reserve Bank of India (RBI) has asked banks to pay interest on savings banks account on a quarterly basis or shorter duration, a move which will benefit crores of savings account holders. At present, the interest is credited to savings bank account on a half-yearly basis. The interest rate on savings bank account is … Read More →
With an expect to advance simplicity of doing business, the Reserve Bank recently turned out with nine overhauled regulations under the Foreign Exchange Management Act (FEMA), 1999. Therefore, RBI said, respective original notifications and subsequent amendments stand repealed. “Keeping in perspective the target of advancing ease of doing business, a need was felt to solidify … Read More →