FBIL and its responsibilities for all the aspects related to the benchmarks it issues
Financial Benchmarks India Pvt. Ltd. (FBIL) was jointly formed by Fixed Income, Money Market and Derivatives Association of India (FIMMDA), Foreign Exchange Dealers’ Association of India (FEDAI) and Indian Banks’ Association (IBA), was incorporated in December 2014 as a private limited company and had commenced operations in February 2015. It develops and administers benchmarks relating…
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Cabinet Approves Setting Up Of National Land Monetization Corporation as wholly owned Govt. Company
The Union Cabinet on Wednesday approved the setting up of the National Land Monetisation Corporation (NLMC) as a wholly-owned Government of India company. The new entity has an initial authorised share capital of Rs 5,000 crore and a paid-up share capital of Rs 150 crore. In view of Central Public Sector Enterprises ( CPSEs) and…
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The difference between money bill and finance bill explained
There are four types of bills passed in Parliament viz. (i) Ordinary bills, (ii) Money bills and Finance bills, (iii) Ordinance Replacing Bills, and (iv) Constitutional amendment bills. These Bills are the statutes in the draft. Once they are approved in both the houses of Parliament and then with the President’s nod, they become the…
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RBI enhances the scope of tokenisation of cards
RBI on Tuesday extended the device-based tokenisation to card-on-file tokenisation (CoFT) services, a move that will bar the merchants from storing actual card data. Tokenisation is a process by which actual card details mask sensitive card details of your debit/credit / prepaid card with an alternate code. This process by which the primary details of…
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Bank’s liability to locker hirers is limited to 100 times of annual rent: RBI
The Reserve Bank on Wednesday came out with revised guidelines for the hiring of lockers under which the liability of banks will be limited to 100 times its annual rent in case of fire, theft, building collapse, or frauds by bank employees. The banks will have to put in place a Board-approved policy outlining their…
What is e-RUPI digital currency?
National Payments Corporation of India (NPCI) in association with the Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks, has launched an innovative digital solution – ‘e-RUPI’ on August 2, 2021. ‘e-RUPI’ is in essence, like a prepaid voucher except that the voucher is entirely…
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