Blog Archives

No Current Account In Banks for CC/OD Customers?

RBI on August 06, 2020, barred banks from opening current accounts for customers who have availed cash credit or overdraft facilities from any bank. RBI has taken this measure with a view to improve credit discipline. In a notification, the central bank said that rather than opening a new current account, all transactions should be […]

RBI Payment and Settlement Systems

The Reserve Bank of India (RBI) has released Statement on Developmental and Regulatory Policies dated 06th August, 2020 on account of various developmental and regulatory policy measures to enhance liquidity support for financial markets and other stakeholders; further easing of financial stress caused by COVID-19 disruptions. Payment and Settlement Systems 1. Scheme of Offline Retail […]

RBI New Guidelines on Opening of Current Accounts by Banks

Reserve Bank of India (RBI) on August 6, 2020 vide circular no. RBI/2020-21/20 DOR. No. BP.BC/7/21.04.048/2020-21, Issued revised Guidelines on Opening Current Account with Banks, key points of which are as follows: 1. No Current Account, where Customer Availing Credit Facilities (CC/OD) from banking System 2. In Case, customer not availed CC/OD facility from any […]

RBI New Guidelines on Opening of Current Accounts by Banks

Reserve Bank of India (RBI) on August 6, 2020 vide circular no. RBI/2020-21/20 DOR. No. BP.BC/7/21.04.048/2020-21, Issued revised Guidelines on Opening Current Account with Banks, key points of which are as follows: 1. No Current Account, where Customer Availing Credit Facilities (CC/OD) from banking System 2. In Case, customer not availed CC/OD facility from any […]

RBI New Guidelines on Opening of Current Accounts by Banks

Reserve Bank of India (RBI) on August 6, 2020 vide circular no. RBI/2020-21/20 DOR. No. BP.BC/7/21.04.048/2020-21, Issued revised Guidelines on Opening Current Account with Banks, key points of which are as follows: 1. No Current Account, where Customer Availing Credit Facilities (CC/OD) from banking System 2. In Case, customer not availed CC/OD facility from any […]

RBI New Guidelines on Opening of Current Accounts by Banks

Reserve Bank of India (RBI) on August 6, 2020 vide circular no. RBI/2020-21/20 DOR. No. BP.BC/7/21.04.048/2020-21, Issued revised Guidelines on Opening Current Account with Banks, key points of which are as follows: 1. No Current Account, where Customer Availing Credit Facilities (CC/OD) from banking System 2. In Case, customer not availed CC/OD facility from any […]

RBI New Guidelines on Opening of Current Accounts by Banks

Reserve Bank of India (RBI) on August 6, 2020 vide circular no. RBI/2020-21/20 DOR. No. BP.BC/7/21.04.048/2020-21, Issued revised Guidelines on Opening Current Account with Banks, key points of which are as follows: 1. No Current Account, where Customer Availing Credit Facilities (CC/OD) from banking System 2. In Case, customer not availed CC/OD facility from any […]

RBI New Guidelines on Opening of Current Accounts by Banks

Reserve Bank of India (RBI) on August 6, 2020 vide circular no. RBI/2020-21/20 DOR. No. BP.BC/7/21.04.048/2020-21, Issued revised Guidelines on Opening Current Account with Banks, key points of which are as follows: 1. No Current Account, where Customer Availing Credit Facilities (CC/OD) from banking System 2. In Case, customer not availed CC/OD facility from any […]

Future of Retail payments in United States – An instantaneous exhilarating experience

Governor Lael Brainard, the distinguished Governor of Federal Bank, United States of India unveiled the acceptance by Federal Reserve Board of Fed Now Service’s proposal, a revolutionary one for enabling banks of every size and in every community in America to provide safe and efficient instant payment services around the clock, every day of the […]

Future of Retail payments in United States – An instantaneous exhilarating experience

Governor Lael Brainard, the distinguished Governor of Federal Bank, United States of India unveiled the acceptance by Federal Reserve Board of Fed Now Service’s proposal, a revolutionary one for enabling banks of every size and in every community in America to provide safe and efficient instant payment services around the clock, every day of the […]

Future of Retail payments in United States – An instantaneous exhilarating experience

Governor Lael Brainard, the distinguished Governor of Federal Bank, United States of India unveiled the acceptance by Federal Reserve Board of Fed Now Service’s proposal, a revolutionary one for enabling banks of every size and in every community in America to provide safe and efficient instant payment services around the clock, every day of the […]

Future of Retail payments in United States – An instantaneous exhilarating experience

Governor Lael Brainard, the distinguished Governor of Federal Bank, United States of India unveiled the acceptance by Federal Reserve Board of Fed Now Service’s proposal, a revolutionary one for enabling banks of every size and in every community in America to provide safe and efficient instant payment services around the clock, every day of the […]

Future of Retail payments in United States – An instantaneous exhilarating experience

Governor Lael Brainard, the distinguished Governor of Federal Bank, United States of India unveiled the acceptance by Federal Reserve Board of Fed Now Service’s proposal, a revolutionary one for enabling banks of every size and in every community in America to provide safe and efficient instant payment services around the clock, every day of the […]

Future of Retail payments in United States – An instantaneous exhilarating experience

Governor Lael Brainard, the distinguished Governor of Federal Bank, United States of India unveiled the acceptance by Federal Reserve Board of Fed Now Service’s proposal, a revolutionary one for enabling banks of every size and in every community in America to provide safe and efficient instant payment services around the clock, every day of the […]

Framework for resolution of stressed loans on account of Covid-19

The RBI has, vide notification dated 06.08.2020, issued a new framework for resolution of stressed loans caused by Covid-19. I am discussing the relevant portion of this notification in my own words in simple and clear language in three parts. Part-I (General overview of the framework) Existing frameworks for restructuring of loans before issue of […]

Framework for resolution of stressed loans on account of Covid-19

The RBI has, vide notification dated 06.08.2020, issued a new framework for resolution of stressed loans caused by Covid-19. I am discussing the relevant portion of this notification in my own words in simple and clear language in three parts. Part-I (General overview of the framework) Existing frameworks for restructuring of loans before issue of […]

Framework for resolution of stressed loans on account of Covid-19

The RBI has, vide notification dated 06.08.2020, issued a new framework for resolution of stressed loans caused by Covid-19. I am discussing the relevant portion of this notification in my own words in simple and clear language in three parts. Part-I (General overview of the framework) Existing frameworks for restructuring of loans before issue of […]

Framework for resolution of stressed loans on account of Covid-19

The RBI has, vide notification dated 06.08.2020, issued a new framework for resolution of stressed loans caused by Covid-19. I am discussing the relevant portion of this notification in my own words in simple and clear language in three parts. Part-I (General overview of the framework) Existing frameworks for restructuring of loans before issue of […]

Framework for resolution of stressed loans on account of Covid-19

The RBI has, vide notification dated 06.08.2020, issued a new framework for resolution of stressed loans caused by Covid-19. I am discussing the relevant portion of this notification in my own words in simple and clear language in three parts. Part-I (General overview of the framework) Existing frameworks for restructuring of loans before issue of […]