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On 7 April 2008 (in a draft report) and on 12 September 2008 (in a final report) the High-Level Committee on Financial Sector Reforms recommended the introduction of Priority Sector Lending Certificates. On 7 April 2016 the portal for trading Priority Sector Lending Certificates was launched by the Reserve Bank of India. Within twelve months of ...
[2] [3] The SLR is fixed for a number of reasons. The chief driving force is increasing or decreasing liquidity which can result in a desired outcome. A few uses of mandating SLR are: Controlling the expansion of bank credit. By changing the level of SLR, the Reserve Bank of India can increase or decrease bank credit expansion.
[2] In 1965, the Act was amended to include cooperative banks under its purview by adding the Section 56. Cooperative banks, which operate only in one state, are formed and run by the state government. But, RBI controls the licensing and regulates the business operations. [2] The Banking Act was a supplement to the previous acts related to banking.
RBI introduced and withdrew Incremental - Cash reserve ratio I-CRR over and above CRR for managing liquidity. ... 2.00: Since 7 October 2009 Denmark: Zero [27 ...
New categorization of NBFCs as per revised framework by Reserve Bank of India (RBI): Reserve Bank of India through a circular in October 2021, [9] has categorized the NBFCs into three layers: [10] Base layer – This layer covers NBFCs which are non-systematically important, i.e., they have a lesser risk and impact on the financial system. It ...
[2] He was the chairman of the Goiporia Committee, which made several important recommendations to improve the level of customer service in Indian banks. As a result of the committee's recommendations, all Indian banks are required to maintain a customer complaint book with adequate pages for recording complaints.
The Reserve Bank of India (RBI) on 19 June 2020 doubled the withdrawal limit for Punjab and Maharashtra Cooperative Bank's depositors to Rs 100,000 from Rs 50,000 earlier. [6] Joy Thomas(aka Junaid Khan), the MD of the bank, was suspended.
Reserve Bank of India found out on 31 March 2011 that the bank's net assets were worth - ₹ 1,316.50 crore (US$150 million) and deposit erosion was 100 percent, the gross non performing assets were - ₹ 1,126.55 crore (US$130 million) and losses were ₹ 1,357.41 crore (US$160 million).