Do you know what is RBI Retail Direct Scheme and facilities available to individuals?
The Reserve Bank on Friday (12.11.2021) announced the activation of the RBI Retail Direct (RBI-RD) Scheme with effect from today. RBI-RD Scheme will bring G-secs such as Government of India Treasury Bills; Government of India dated securities; Sovereign Gold Bonds (SGB); and State Development Loans (SDLs), within easy reach of the common man by simplifying…
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FCNR (B) Accounts interest rates on deposits during LIBOR transition: RBI advises banks to use ARR
Edited on December 6, 2024 With the expectation that the publication of the London Interbank Offered Rate (LIBOR) as a benchmark rate will cease by the end of 2021, RBI permitted banks to offer interest rates on FCNR (B) deposits using the widely accepted ‘Overnight Alternative Reference Rate (ARR)* for the respective currency’ with upward…
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RBI announces amendments to Gold Monetization Scheme (GMS), 2015
The Reserve Bank of India on Thursday made announcement amendments to Gold Monetization Scheme, 2015 with immediate effect. According to the latest notification, a new subparagraph 2.2.2 (f) has been inserted to read as the ‘Interest on premature closure of the deposit in case of death of the depositor before and after the lock-in period’.…
Read article No repo rate cut for 8th time
The monetary policy committee of the Reserve Bank of India today unanimously decided to keep the repo rate unchanged for the eighth consecutive time. The committee also lowered the FY22 inflation forecast to 5.3 per cent from an earlier estimate of 5.7 per cent. MPC also decided to continue with its accommodative stance as long…
Read article RBI cautions against frauds in the name of KYC updation
The Reserve Bank of India (RBI) on Monday cautioned individuals against sharing bank account login details, personal information, copies of know-your-customer (KYC) documents, card information, PIN, password, and OTP, etc. with unidentified persons or agencies. The banking regulator further bank advised the general public that such details should not be shared through unverified or unauthorised…
RBI announces enhancements to Indo-Nepal Remittance Facility Scheme
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…
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