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Monthly Archives: January 2016

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  3. January

RBI issues second trench of Soverein Gold Bonds at ₹ 2,600/- per gram

Bank NewsBy Surendra NaikJanuary 17, 2016

Sovereign Gold Bonds Scheme 2016 Applications for the second trench of Soverein Gold Bonds will be accepted from January 18, 2016 to January 22, 2016, as per RBI communication. The issue price of the Bond for this tranche has been fixed at ₹ 2,600/- (Rupees Two Thousand Six Hundred only) per gram of gold. The…

Non-Fund Based Facility to Non-constituent bank borrowers

Loans and advancesBy Surendra NaikJanuary 9, 2016

The commercial banks in India were not allowed to extend non-fund based facilities to non-constituents borrowers of the banks in order to prevent frauds, diversion of funds etc. However, the above restriction imposed by RBI vide circular DBOD.Dir.BC.62/13.07.09/2002-03 dated January 24, 2003 created problems to the customers who do not enjoy fund based credit facilities…

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