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UIDAI launches multilingual website to extend reach among residents
  UIDAI launches multilingual website to extend reach among residents The Unique Identification Authority of India (UIDAI) today launched its multi-lingual website consistent with its commitment to reach out to all sections of the populace. The website,www.uidai.gov.in, will now appear in five regional languages: Bengali, Gujarati, Kannada, Marathi and Tamil in addition to Hindi and English. While launching the multi-lingual website from UIDAI Tech Centre Bengaluru, Chairman UIDAI, Shri Nanda...
Mid Quarter Monetary Policy Review September 2013 Increase in Repo Rate by 25 basis Point
  Mid Quarter Monetary Policy Review  September 2013 Increase in Repo Rate by 25 basis Point Monetary and Liquidity Measures On the basis of an assessment of the current and evolving macroeconomicsituation, it has been decided to: o    reduce the marginal standing facility (MSF) rate by 75 basis points from 10.25 per cent to 9.5 per cent with immediate effect; o    reduce the minimum daily maintenance of the cash reserve ratio (CRR) from 99 per cent of the requi...
RBI permits banks to open branches without its permission
    RBI permits banks to open branches without its permission RBI/2013-14/274 DBOD.No.BAPD.BC.54 /22.01.001/2013-14 September 19, 2013 All Domestic Scheduled Commercial Banks (excluding RRBs) Madam / Dear Sir Section 23 of the Banking Regulation Act, 1949 – Relaxations in Branch Authorisation Policy Please refer to Governor’s Statement on taking office on September 04, 2013  (extract enclosed – Annex 1) regarding the proposal to completely free bank&n...
RBI Clarification on carrying of INR 10,000 by Non-residents and Residents
  RBI Clarification on carrying of INR 10,000 by Non-residents and Residents In terms of instructions issued vide A.P. (Dir Series) circular No.45 dated September 16, 2013, the Reserve Bank of India had facilitated encashment of rupees into convertible currencies even beyond Immigration/Customs desk.  This instruction has been misreported in certain sections of the media as a new restriction imposed by the Reserve Bank.  The Reserve Bank issues the following clarifications...
RBI raises repo rate by 25 bps
  RBI  raises repo  rate by 25 bps The new Reserve Bank of India chief Raghuram Rajan announced his first monetary policy statement today  and said that high inflation is a cause for concern RBI’s new governor Raghuram Rajan today bit the bullet by hiking the  repo rate by 25 basis points to 7.5%. Economists had widely expected the RBI to leave the repo rate unchanged. The central bank, however, reduced the Marginal Standing Facility (MSF) r...
RBI - Circular - Overseas Forex Trading Through Electronic/internet trading portals
  RBI notification on Overseas forex trading through electronic / internet trading portals RBI/2013-14/265 A.P. (DIR Series) Circular No. 46 September 17, 2013 To All Category – I Authorised Dealer Banks Madam/ Sir, Overseas forex trading through electronic / internet trading portals Attention of the Authorised Dealer Category – I (AD Category – I) banks is invited to A.P. (DIR Series) Circular No. 53 dated April 07, 2011 and A.P. (DIR Series) Circular No. 46 dated November 17, 201...
Overseas Forex Trading Through Electronic/internet trading portals
  Overseas Forex Trading Through Electronic/internet trading portals Now a days due to high fluctuations in the Indian currency some people lure to take advantage  by way of entering  into forex  trading through some unauthorized electronic/internet trading portals. Also, some banking customers continue to undertake online trading in foreign exchange on portals / websites offering such schemes wherein they initially remit funds from Indian bank accounts using credit cards or other e...
Widowed, divorced daughters of deceased central government employee are eligible for family pension
  Widowed, divorced daughters of deceased central government employee are eligible for family pension   Widowed and divorced daughters of a deceased central government employee are eligible to get family pension, the government has said. The Ministry of Personnel has recently issued a circular in this regard after it received a number of communications from other central government ministries and departments seeking clarifications. Family pension is payable to the children as they are considered to be...
Widowed, divorced daughters of deceased central government employee are eligible for family pension
  Widowed, divorced daughters of deceased central government employee are eligible for family pension   Widowed and divorced daughters of a deceased central government employee are eligible to get family pension, the government has said. The Ministry of Personnel has recently issued a circular in this regard after it received a number of communications from other central government ministries and departments seeking clarifications. Family pension is payable to the children as they are considered to be...
Loan against Gold - RBI tightens norms for NBFC
  Loan against Gold - RBI tightens norms for NBFC Seeking to keep the demand for gold under check, the Reserve Bank of India (RBI) has tightened the norms for loans against gold jewellery. In a notification, the RBI said, “In order to standardise the valuation and make it more transparent to the borrower, it has been decided that gold jewellery accepted as collateral will have to be valued at the average of the closing price of 22 carat gold for the preceding 30 days as quoted by the Bombay Bullion Ass...

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