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Any other matter relating to the violation of the directives issued by the Reserve Bank in relation to banking or other services. complaints from Non-Resident Indians having accounts in India in relation to their remittances from abroad, deposits and other bank-related matters; [2]
The preamble of the Reserve Bank of India describes the basic functions of the reserve bank as: [13]...to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex ...
Sh. Unnikrishnan A, Legal Adviser, Reserve Bank of India 10. Part Time Member Dr. Krishnamurthy Subramanian, Former Chief Economic Advisor, Government of India 11. Part Time Member Sh. B. Sriram, Former Managing Director & CEO of IDBI Bank Ltd.
The Reserve Bank of India extended financial support to the Board, meeting its expenses for the first five years. [3] However, on 28 September 2021, the member banks passed resolutions approving BCBSI dissolution. Accordingly it has stopped its operations and is under dissolution. [4]
Public Credit Registry (PCR), created by the Reserve Bank of India, is a public digital registry to capture and store financial information of borrowers in India, both existing and new borrowers. The credit registry will collate the borrowing history of both individuals and corporate borrowers.
Cheque Truncation System (CTS) or Image-based Clearing System (ICS), in India, is a project of the Reserve Bank of India (RBI), commenced in 2010, for faster clearing of cheques. [1] CTS is based on a cheque truncation or online image-based cheque clearing system where cheque images and magnetic ink character recognition (MICR) data are ...
Insolvency regulator: The Code establishes the Insolvency and Bankruptcy Board of India, to oversee the insolvency proceedings in the country and regulate the entities registered under it. The Board will have 10 members, including representatives from the Ministries of Finance and Law, and the Reserve Bank of India. [8]
In India, before the formation of CERSAI, information on the encumbrance on a property was known only to the borrower and the lender due to fragmented registration system. As a result, people could obtain multiple loans on the same property. Some people used to take one loan from one bank, which would hold the deed papers.