GEP report of World Bank has revised down the economic growth forecast of developing world in 2014 to 4.8 percent from 5.3 percent
Reserve Bank has authorised three non-banking entities for setting up white label ATMs with a view to increase financial inclusion.
Canara Bank opened its seventh overseas branch in New York, USA after London, Leicester (UK), Hong Kong, Shanghai, Bahrain and Johannesburg.
Certificates of authorisation has been issued to BTI Payments Pvt Ltd, Srei Infrastructure Finance Ltd, and RiddiSiddhi Bullions Ltd.This is in addition to the four entities already authorised to operate as WLAs namely Tata Communications Payment Solutions, Prizm Payment Services Pvt. Ltd, Muthoot Finance Limited and Vakrangee Ltd.
One can invest into foreign stocks from 75,000 Us Dollar to 1.25 Lakh US Dollar
Bandhan Financial Services and IDFC have been given Banking License
According to RBI guidlines, a new bank must open at least 25% of its branches in rural areas.
Bhartiya Mahila Bank has been included in second schedule to RBI Act 1935
All new ATM’s installed from July 1, 2014 should be “talking ATMs” with Braille keypads
Raghuram Govind Rajan is the 23rd Governor of the Reserve Bank of India(RBI)
The RBI's directive came on its prior advice to banks to make bank branches and ATMs accessible to people with disabilities and make at least one-third of the new ATMs installed as talking ATMs with Braille keypads.
SBI Chairperson Arundhati Bhattacharya said that the RBI would issue guidelines allowing minors over 10 years to operate bank savings accounts independently and use facilities such as ATMs and cheque books.
The Reserve Bank of India constituted on 9 December 1991, a Committee under the Chairmanship of Shri P.R. Nayank, Deputy Governor to examine the difficulties confronting the small scale industries (SSI) in the country in the matter of securing finance.
RBI allowed banks to provide loans with tenures of up to 10 years to exporters to help them ensure capital flows to fulfill long-term contracts
The government should cut its stakes in state banks to below 50 per cent and establish "fully empowered" bank boards, the committee chaired by former Axis Bank Chief Executive P. J. Nayak propose.
Bandhan to start banking operations with 600 branches
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