RBI permits Banks for capital infusion/ transfers to the overseas centers without its prior approval
All Scheduled Commercial Banks other than foreign banks, Small Finance Banks, Payment Banks, and Regional Rural Banks incorporated in India who have met regulatory capital requirement (including regulatory buffer) are permitted to infuse capital in overseas branches and subsidiaries and retention/ repatriation/ transfer of profits in these centres by banks incorporated in India. Banks that…
Read articleBank Holidays 2022 under NI Act: Manipur
The Government of Manipur declared the following days of the year 2022 as public holidays under section 25 of the Negotiable Instrument Act 1881 Sr.No Date Day Occasion/Festival Date 1 01.01.2022 Saturday NEW YEAR DAY 2 14.01.2022 Friday IMOMU IRATPA 3 15.01.2022 Saturday GAAN –NGAI-NI 4 26.01.2022 Wednesday REPUBLIC DAY 5 15.02.2022 Tuesday LUI-NGAI-NI 6…
Read articleBank Holidays 2022 under NI Act: Himachal Pradesh
The Government of Himachal Pradesh declared the following days as public holidays for the year 2022 under section 25 of NI Act (Negotiable Instrument Act) 1881. Sr.No Date Day Occasion/Festival Date 1 26.01.2022 Wednesday REPUBLIC DAY 2 01.03.2022 Tuesday MAHA SHIVRATRI 3 18.03.2022 Friday HOLI * 01.04.2022 Friday Banks’ Annual closing of Account(holiday applicable to…
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Transaction Limit in UPI enhanced to Rs 5 lakh for specified categories.
In the Statement on Developmental and Regulatory Policies on December 8, 2021, the Reserve Bank of India announced an increase in the UPI Transaction Limit for Specified Categories.The statement said that the ‘Reserve Bank has been making efforts to facilitate greater participation of retail customers in financial markets, e.g. investment in the G-secs segment through…
Read article RBI keeps Repo Rate unchanged at 4% for the 9th consecutive time
In today’s (08.12.2021) MPC meeting, the Reserve Bank of India decided to maintain the policy repo rate under the liquidity adjustment facility (LAF) on hold at 4.0 percent. The Monetary Policy Committee of the Reserve Bank of India has also decided to maintain the status quo on all other key policy rates. RBI had…
2022 Bank holidays in Maharashtra, Gujarat, and Goa declared under section 25 of NI acts
This post provides holiday lists declared by the states of Gujarat, Maharashtra, and Goa under explanation to section 25 of negotiable instrument acts 1881. Note: The holidays declared under NI acts are meant for financial institutions and not for factories and other establishments.] The holiday declared under NI Act is applicable exclusively to the banks…
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