Bridge loan is a temporary short term loan taken by a person or company for a period ranging from 2-3 weeks to 52 weeks. Such loans are known as bridge loan because the loan helps in bridging the gap between short-term cash requirements and long-term loans or permanent source of funding. Bridge loans are also…
In terms of recommendations of Shri.D.K.Mohanty Committee on Currency Movement(CCM), RBI advised all the banks to consider using lockable cassettes in their ATMs which shall be swapped at the time of cash replenishment. The above decision was taken by the Central Bank in order to mitigate risks involved in open cash replenishment/top up. RBI…
All the AD category-I branches are now required to upload transaction-wise information (LRS data) of resident individuals to RBI on daily basis. According to RBI circular A.P. (DIR Series) Circular No. 23 dated April 12, 2018, all AD-I category branches are required to report remittances made under LRS scheme on a daily basis which…