The Reserve Bank of India (RBI) has tightened norms for utilising 'at par' cheques issued by scheduled commercial banks (SCBs) to cooperative banks for better transparency and supervisory control over co-operative banks.
In Ratlam of Madhya Pradesh, the diversion road constructed on Dhoswas-Ratlam route has flouted norms and caused monetary loss to the railways, say documents procured by an RTI activist. The road has been constructed on a private land and the contractor in December 2011 flouted the approved plan for his convenience and the officials concerned in the process of the road construction.
In order to meet the additional capital requirement under the Basel-III norms, State Bank of India (SBI) would need about Rs 230,000 crore up to 2018. This includes Rs 150,000 crore of tier-I capital and Rs 80,000 crore of tier-II capital, agency reports indicate.
It is learnt that SBI may raise some of the required capital through internal accruals and some part from the mark
Reserve Bank of India (RBI) relaxed the norms for categorising priority sector lending of commercial banks to microfinance institutions (MFIs). According to the present norms, banks can categorise credit extended to MFIs as priority sector lending if
if at least 75 per cent of loans given by MFIs is for income generating activity. Now, the central bank relaxed this limit to at least 70 per cent. Thus, according to the relaxed norm, bank credi
Unconfirmed reports indicate that the some of the key clauses of the Justice BN Srikrishna Commission report on revamping financial sector laws were opposed by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi). Both RBI and Sebi are learnt to have discussed some of the clauses in the report at a recent meeting of the Financial Stability and Development Council (FSDC), whic
The Union government has decided to relax norms for road developers in extremist-hit states such as Odisha, Jharkhand and Chhattisgarh in view of security threat and slow execution of projects in these areas, an official said. The development follows completion of barely 2,300 km of roads in Left Wing Extremism (LWE) affected areas till date out of proposed 5,477 km till 2012.
The Union government on April 18 announced a 'package of reforms', including easing of land requirement norms and an exit policy, to rekindle investor interest in Special Economic Zones (SEZs). Union Commerce and Industry Minister Anand Sharma said the SEZ scheme has not been able to realise its full potential so far.
The National Highway Authority of India prescribed norms were the main constraint for highway development, said VK Ebrahim Kunju, Kerala Minister for Public Works. He told this in the State Assembly that the authority had insisted on acquiring equal space on either sides of a stretch to suit road geometrics.
Reserve Bank of India (RBI) Governor D Subbarao recently discussed the final guidelines on new bank licenses with the Parliamentary Standing Committee on Finance. The guidelines were issued by the central bank recently to allow corporate houses and public sector entities with Â“sound credentials and a minimum track record of
In a notification, the Reserve Bank of India (RBI) said it delayed the implementation of Basel-III regulations for currency derivatives segment to January 2014. The central bank postponed the implementation for the segment pending resolution of norms regarding trade settlement. But the RBI said the new capital adequacy requirements will be implemented from April 1. In view of the shift in the start date of Basel III implementation, all ins