Updated as per RBI master circular dated April 2, 2024 In light of the observations of the Delhi High Court on unauthorized construction, Banks/FIs before extending credit facilities shall follow the RBI guidelines stated below. RBI NORMS ON HOUSING FINANCES TO INDIVIDUALS FOR DIFFERENT PURPOSES NORMS ON RESETTING OF FLOATING RATE OF INTEREST ON EMI-BASED…
RBI has provided instructions for the reset of the floating interest rate on equated monthly installments (EMI) vide circular bearing reference number DOR.MCS.REC.32/01.01.003/2023-24 dated August 18, 2023. According to these guidelines, Regulated Entities (REs) are permitted to offer various types of loans with either fixed or variable interest rates. However, when granting Equated Monthly Installment…
Updated as per RBI master circular dated April 2, 2024 Regulated entities like Banks and Financial institutions have to take into account RBI guidelines while sanctioning loans to individuals for different purposes. A loan may be granted by the Bank for the purchase of a plot, subject to a declaration obtained from the borrower that…
Globalization in reverse gear and global trade protectionism are the result of various kinds of problems regarding social distribution, justice, and uneven development in the process of globalization. Unequal social distribution is a weakness inherent in a market economy, but economic globalization further aggravates the problem. In a market economy, the profit of different economic…
The Statement on Developmental and Regulatory Policies released by RBI today proposed to facilitate a cash deposit facility through the use of UPI. “Cash Deposit Machines (CDMs) deployed by banks enhance customer convenience while reducing the cash-handling load on bank branches. The facility of cash deposit is presently available only through the use of debit…
The Monetary Policy Committee (MPC) met on the 3rd, 4th, and 5th of April 2024 and decided to keep the policy repo rate at 6.50 percent, other key policy rates also remained unchanged for the 6th straight time. RBI also left the policy stance unchanged with a focus on the withdrawal of accommodation. Withdrawal of…
Fair Globalization refers to equal and fair opportunities for all the economies across the world. The final report of the ILO’s World Commission on the Social Dimension of Globalization recommends that the potential of globalisation can be better harnessed to address the needs, concerns, and aspirations of a large number of people in the world.…
RBI today reiterated that the regulatory framework for ETCDs has remained consistent over the years and that there is no change in the RBI’s policy approach. The announcement was made as some concerns have been expressed about participation in the exchange traded currency derivatives (ETCD) market in the light of the Reserve Bank of India’s…
Globalisation refers to the increasing interconnectedness and interdependence of countries and their economies marked by free trade, and the free flow of capital among countries. Globalization provides easy access to foreign resources, including labour markets, to maximize returns and benefit the common good. The capital moved between two or more places, commodities were traded across…
In terms of clause 13 of the 9th Joint Note between IBA & Officer’s Association and clause 36 of the 12th Bipartite Settlement between IBA and Workmen Union, states regarding the payment of Ex-gratia for pensioners/family pensioners, who became eligible to draw a pension on or before 31.10.2022 including those who retired on 31.10.2022. Ex…