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Daily Archives: August 30, 2021

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RBI announces enhancements to Indo-Nepal Remittance Facility Scheme

Bank News, Reserve Bank Functions and newsBy Surendra NaikAugust 30, 2021

The Indo-Nepal Remittance Facility Scheme was introduced in May 2008 by the Reserve Bank of India, jointly with Nepal Rastra Bank, to provide an avenue to migrant workers of Nepalese origin working in India to remit funds at regular intervals in a safe and cost-efficient manner to their families in Nepal. Reserve Bank on Friday…

DICGC Act effective from September 1, Stressed bank depositors set to get back funds after 90 days

DepositsBy Surendra NaikAugust 30, 2021

Updated on 30 August 2021 The Government has notified September 1, 2021, as the date on which the provisions of the Act shall come into force, according to a gazette notification dated August 27, 2021. “In exercise of the powers conferred by sub-section (2) of section 1 of the Deposit Insurance and Credit Guarantee Corporation…

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