Tag Archives: RBI

New Delhi: The Enforcement Directorate on Friday provisionally attached under the Prevention of Money Laundering Act 2002 (PMLA) three properties in New Delhi, with a market value of around ₹100 crore for PMC Bank fraud. The investigation has revealed that the proceeds of the crime of ₹Libra Realtors and Deewan …

Although new cases under India’s insolvency law have been suspended for six months, lenders have the RBI’s stressed assets resolution framework released on June 7 last year to appeal, said Rajnish Kumar, chairman of the State Bank of India (SBI). In June, President Ram Nath Kovind signed an ordinance suspending …

“For the past two years, depositors in cooperative banks and small banks are facing problems. We are trying to introduce this amendment to protect depositors,” Finance Minister Nirmala Sitharaman said at Lok Sabha on Thursday. Commenting on the new bill, Mandar Agashe, founder, managing director and vice president of Sarvatra …

To protect the interests of depositors, the Lok Sabha on Wednesday passed the Banking Regulation (Amendment) Bill 2020 to bring cooperative banks under the supervision of the Reserve Bank of India (RBI). Finance Minister Nirmala Sitharaman assured the Chamber that the legislation empowers the central bank to regulate only the …

As the coronavirus situation in India remains alarming, Rajya Sabha is ready to discuss the pandemic and the measures taken by the Center to slow the spread of the deadly virus. Vardhan had told Parliament on Monday that the decision to impose the blockade at the national level prevented between …

RBI Governor Shaktikanta Das addressed members of India Inc.’s FICCI body today. The RBI chief said the economic recovery is not fully entrenched and the recovery is likely to be gradual. These are the highlights of what he said: The persistently large infusion of liquidity by the RBI has ensured …

NEW DELHI: Finance Minister Nirmala Sitharaman introduced the 2020 Banking Regulation Bill (Amendment) at the Lok Sabha on Monday. The law seeks to protect the interests of depositors by placing cooperative banks under the regulatory framework of the Reserve Bank of India (RBI). With the amendments, RBI will be able …

NEW DELHI: India’s wholesale price inflation turned positive in August after a gap of four months, during which it remained in deflationary territory, indicating that producers are slowly regaining their pricing power after the shock of supply and demand caused by the coronavirus pandemic. Data released by the industry department …

File photo of the Supreme Court of India. (Image credit: PTI) The Reserve Bank of India had submitted the notification in March after the nationwide lockdown was imposed to curb the spread of the pandemic and had granted the deferred payment facility of installments to borrowers and the plan finalized …

NEW DELHI: On Thursday, the Supreme Court ordered the provisional extension of the loan moratorium until September 28, ordering banks not to label any loans as delinquent until further instructions. The high court adjourned the case for the last time, giving the Center, the Reserve Bank of India (RBI) and …