Taking into consideration the suggestions by Committee on Customer Service in Banks (Damodaran Committee) relating to Banking Ombudsman Scheme 2006 and the Rajya Sabha Committee on Subordinate Legislation,...
The constitution of the 14th Finance Commission has been announced by the government. The Commission will have 5 members which will be headed by former RBI Governor Y.V....
Urjit Patel succeeded Subir Gokarn to become new deputy governor at the Reserve Bank of India. Patel is PhD in economics from the Yale University and a non-resident...
As per latest draft guidelines proposed by the RBI, Non-banking financial companies (NBFC) would need its approval before making changes in their ownership control. As per the proposed...
The Reserve Bank of India (RBI) in its recent directives told the banks not to allow offline debit cards. As per the recent directives banks have been told...
The RBI extended the deadline given to shift to new cheques (CTS-2010 Standard cheques), with advanced security and standardized features, to March 31, 2013. Earlier, it had set...
Lok Sabha approved Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011 which seeks to change the system of debt recovery. The Bill seeks to...
The RBI has for the first time established the ‘Supervisory College’ for cross border supervision of State Bank of India (SBI) and ICICI Bank. What is the role...
Prime Minister’s Economic Advisory Council (PMEAC) C. Rangarajan pined not to alter the RBI’s inflation comfort level from 4-5%. In 1998, Rangarajan had considered inflation rate at 6%...
