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IFSC banking units can open foreign currency current accounts

Tuesday, December 24, 2019, 11:06 AM

The RBI said IFSC Banking Units can open foreign currency current accounts of entities operating in IFSC and of non-resident institutional investors to facilitate their investment transactions. However, IBUs are not allowed to open savings accounts. Issuing instructions regarding permissible activities of IBUs, the RBI further said it will not prescribe any limit for raising short-term liabilities from banks.
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RBI, government arms to build new borrower database

Monday, September 2, 2019, 9:11 AM

India's banking-regulator and two-government-arms tasked with supervising companies and indirect-taxes have come together to draft a law that will help create a central-borrower-database, which would help improve underwriting standards and allow financiers to give more loans to small-businesses and individuals with limited credit-histories. The RBI, Ministry of Corporate-Affairs and CBIC are working on the bill that aims to enhance financial inclusion without compromising prudential-lending-norms.
 
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SBI has found fraud worth Rs 7,951.3 crore in Apr-Dec: RTI reply

Thursday, February 28, 2019, 7:57 AM

The State Bank Group has said as-much-as Rs.7,951.29-crore involving 1,885-cases of fraudulent activities have come to light during the first-nine-months of the current fiscal year. In an RTI reply, nation's largest lender said, first quarter reported 669 cases of fraudulent activities amounting to Rs.723.06-crore, the second quarter saw 660-cases involving an Rs.4,832.42-crore and the third quarter reported 556-cases amounting to Rs.2,395.81-crore.

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