RBI cautions the public against fraudulent buy or sale of old banknotes and coins
On Wednesday (August 4, 2021) Reserve Bank cautioned the members of the public to remain alert and not to fall prey to elements using the name of Reserve Bank of India to extract money through such fictitious/ fraudulent offers. “It has come to the notice of Reserve Bank of India that certain elements are fraudulently…
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What is Marginal Standing Facility (MSF)?
Marginal Standing Facility (MSF) by RBI is a liquidity adjustment facility extended to Scheduled banks, as a measure to reduce volatility in call money rates in the inter-bank market. The scheme is introduced by RBI, with effect from 09.05.2011. Under the scheme RBI lends to Scheduled Commercial Banks, for an overnight, having Current Account and…
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Timeline extended for implementation of lockable cassette swap in all ATMs
Reserve Bank of India on Monday (July 12) extended the timeline for implementation of using lockable cassettes in their ATMs which shall be swapped at the time of cash replenishment, till March 31, 2022. The Reserve Bank of India (RBI) had constituted a Committee on Currency Movement (CCM) under the chairmanship of Shri D.K. Mohanty,…
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RBI releases Consultative Document on Regulation of Microfinance
The Reserve Bank of India (RBI) has proposed a slew of measures to protect micro-finance borrowers from over-indebtedness and enable competitive forces to bring down the interest rates. In a consultative document released on Monday, RBI has proposed to remove the ceiling on interest rates for micro-finance lenders, among other key measures. In the Statement…
Read article ATM charges and fees will go up from Aug 2021
The Reserve Bank of India (RBI) today (10.06.2021) allowed an increase in the interchange fee structure for ATM transactions considering the increasing cost of Automated Teller Machines (ATM) deployment and expenses towards ATM maintenance incurred by the banks and white label ATM operators. The last change in interchange fee structure for ATM transactions was in…
Banks were advised to preserve CCTV recordings
Reserve Bank today advised all the banks to preserve the CCTV recordings of operations at bank branches and currency chests till further order. On December 13, 2016, RBI had issued a notification, wherein the banks were advised to preserve the CCTV recordings of operations at bank branches and currency chests for the period from November…
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