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Overdue FDs to earn lower interest after this RBI tweak; what you should do indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
RBI caps bank CEO tenure at 15 years, policy to be effective Oct 1 business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
All Bank Branches To Be Covered Under Cheque Truncation System By September, Says RBI The Reserve Bank of India (RBI) (PUNIT PARANJPE/AFP/Getty Images) In a letter written to heads of the bank, the Chief General Manager (CGM) of the Reserve Bank of India, RBI, has asked them to implement image-based cheque truncation system (CTS) across all bank branches by September. This comes in accordance with the Statement on Development and Regulatory policy issued by RBI last month. Currently, 1,50,000 branches of all banks have implemented the CTS system since its inception in 2010. Till last September, all 1,219 pre-existing non-CTS clearing houses had successfully migrated to CTS system all over the country. ....
RBI to exempt banks' exposure to foreign sovereigns from LEF thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Why DICGC Act amendment is big news for small depositors The Indian banking system now has a much better safety net for depositors of failing banks compared to what they had till a year ago. February 04, 2021 / 07:29 AM IST The collapse of UCBs like Punjab and Maharashtra Cooperative Bank (PMC Bank) has added to the customers’ distrust. In the 2021 Union Budget, Union Finance Minister Nirmala Sitharaman proposed to amend the Deposit Insurance and Credit Guarantee Corporation Act (DICGC). This is aimed at enabling depositors of troubled banks to access their money through DICGC route even if banks are temporarily unable to meet the obligations. This announcement assumes significance, particularly for smaller depositors. Earlier, DICGC could be invoked only on liquidation of banks. ....