RBI pushed trading platform to make retail forex cheaper ...
RBI pushed trading platform to make retail forex cheaper ...
Reserve Bank of India - Index To RBI Circulars
Reserve Bank of India - Notifications
RBI bats for retail users of forex trading
RBI CIRCULAR ON OVERSEAS FOREX TRADING - Taxalertindia
RBI to Block Indian Forex Traders' Bank Accounts
RBI: RBI to set up forex trading platform for SMEs, get ...
Indian Financial Sector
Public sector banks will embark on second round of 2-day bottom-up ideation exercise beginning Thursday for further streamlining the banking sector to help the nation become a USD 5 trillion economy in 5 years. The second leg of the month-long campaign will be inter-bank and will be held at state-level as per the direction of Department of Financial Services, Ministry of Finance. The first round was focussed at branch level and suggestions and ideas received from there will now be discussed at the state level from tomorrow, official sources said. -Economic Times Members of the RBI's Monetary Policy Committee at its rate review held on 7 August have agreed that supporting growth will remain their top priority in the midst of inflation remaining stable within the next 1 year, according to the minutes of the meeting released on today. -Livemint The Banks Board Bureau has invited applications for the post of MD & CEO in 4 leading PSBs — Bank of India, Bank of Baroda, Punjab National Bank and Canara Bank. -Moneycontrol.com The IL&FS had not disclosed any NPAs for the last 4 years, the RBI has said in a report. The report is based on inspection of IL&FS and IFIN and this has been conveyed by the new board of the IL&FS to the NCLT. -Economic Times SBI is planning to establish nearly 10 lakh YONO Cash Points in the country over 18 months, said its Chairman Rajnish Kumar today. The platform is secure and will eliminate the requirement of using debit cards, Kumar said. -Business Line BookMyForex.com, a marketplace for foreign exchange and remittances, has partnered with YES Bank to launch a co-branded multi-currency forex travel card for Indian overseas travellers. BookMyForex will offer zero margin or exact inter-bank rates 24x7 on forex card sales. -Business Line SEBI today provided more teeth to rating agencies by allowing them to obtain details of borrowings and defaults by companies. It also announced rewards for whistle blowers and approved changes in norms prohibiting insider trading. -Economic Times SBI Cards and Payment Services Pvt. Ltd, the credit card subsidiary of SBI, invited investment banks and lawyers to act as advisers for its proposed IPO. -Moneycontrol.com The finance ministry has initiated a review of India’s free trade agreement framework to assess the impact of such pacts on the overall economy. The view has been gaining ground among policymakers and industry that these free trade agreements (FTAs) brought little tangible benefit to India, while helping the partner country. -Economic Times IL&FS has informed NCLT that in contravention of a NCLAT order, banks have debited about Rs 759 crore in the last 8 months for repayment on their dues which amounts to coercive creditor action. -Economic Times Parle Products Pvt Ltd, a leading biscuit maker, might layoff up to 10,000 workers as slowing economic growth and falling demand in the rural heartland could cause production cuts, a Co executive said today. -Business Line The probe by the Enforcment Directorate in the money laundering case, involving former finance minister P Chidambaram, has been enlarged. It suspects his role in granting alleged illegal Foreign Investment Promotion Board clearances to at least four more business deals, apart from INX Media and Aircel-Maxis, and receiving multi-crore kickbacks through multiple shell firms, official sources said today. The CBI has issued a Look Out Circular P Chidambaram to prevent him from leaving the country, officials said. -Business Line USD/INR 71.55 SENSEX 37060.37(-267.64) NIFTY50 10918.70 (-98.30)
MPs, state legislatures, or local bodies such as municipal corporations cannot be on the boards of public sector banks. Also, partners of chartered accountancy firms engaged as statutory central auditors at any PSB cannot join the boards of these banks, RBI said in an updated circular on fit and proper criteria in PSBs. -Economic Times The RBI clarified that banks and NBFCs cannot impose foreclosure charges / pre-payment penalties on any floating rate term loan sanctioned, for purposes other than business, to individual borrowers with or without co-obligant(s). The RBI has done away with foreclosure charges /pre-payment penalties on all floating rate term loans sanctioned to individual borrowers with effect from May 7, 2014. -Business Line IMPS is gaining traction and the number of transactions rose to 19 crores in July even as the transaction value for UPI and the Centre’s flagship digital payment app BHIM continued to decline for the second straight month. According to data released by the NPCI, IMPS hit a record high in July in terms of value, too. As many as 18.92 crore transactions amounting to over ₹1.82-lakh crore were conducted through IMPS in July against 17.13 crore transactions worth over ₹1.73-lakh crore in June. -Business Line Clearcorp Dealing Systems India Ltd (Clearcorp), a wholly owned subsidiary of Clearing Corporation of India Ltd, will launch its forex trading platform, FX-Retail, for the customers of banks on Aug 5. The FX-Retail platform will provide an anonymous and order driven dealing in US Dollar (USD) / Indian Rupee (INR) currency pair for bank customers -- individuals, sole proprietorship firms, partnership firms and corporates, Clearcorp said in a statement. -Business Line Corporation Bank registered a net profit of ₹103.27 crore in the first quarter of 2019-20 as against a profit of ₹84.96 crore in the corresponding period of the previous fiscal, recording a growth of 21.55%. -Business Line SBI today said the RBI has imposed a penalty of Rs 50 lakh on it for non-compliance relating to reporting of frauds. -Economic Times Oriental Bank of Commerce & Punjab National Bank today said the RBI has imposed a penalty of Rs 50 lakhs on them for non-compliance relating to reporting of frauds in the Kingfisher Airlines account. -Economic Times Bandhan Bank would open 187 new branches by the end of the current FY, taking the total number to 1,187, a top official said today. The bank would also open 340 doorstep service centres by 2019-20, MD & CEO Chandra Sekhar Ghosh said. -Economic Times Punjab & Sind Bank said it has declared NPA account Fairdeal Supplies Ltd as a fraud and has reported the matter to the RBI, it said in a regulatory filing. -Economic Times LIC Housing Finance reported an 8% increase in standalone net profit at ₹611 crore in the first quarter (Q1FY20) against ₹568 crore in the year-ago period. -Business Line Former RBI Governor Duvvuri Subbarao on Friday said that any government trying to “raid” the balance sheet of a central bank can be seen as a desperate move. -Business Line A spate of reforms undertaken by the Government has led to the current slowdown in the country, Amitabh Kant, the CEO of policy think-tank NITI Aayog, said. This came as a note of caution from the senior official as he was advocating a series of policy decisions to revive the economy. -The Hindu The country's forex reserves decreased by $727 million to $429.649 billion for the week ended July 26, led by a decline in foreign currency assets, RBI data showed on Friday. -Moneycontrol.com As the Rajya Sabha passed the Code on Wages, 12 Central Trade Unions, except the BMS, held protest across the country demanding the Centre to withdraw the proposed Labour Codes. Terming the 4 proposed codes anti-labour, the trade unions alleged that the Bills are being passed without any tripartite negotiations with trade unions, chambers of commerce and the Governments. They alleged that there is a conspiracy to take away the right to work for 8 hours and give the power to the State governments and the Centre to set working hours. -Business Line
Concerns over using credit card for international online transactions. (details in description)
Hello, first of all this is not a concern about identity theft or doubting merchant's authenticity. I am aware of the cardholder protection against fraudlent transcations and its completly safe technically. What I am concerned about is the RBI's circular which was published last year (Link)(relevent now because Aliexpress is going to have 3/29 aniversary sale and I have so many products to purchase) which affects the tranctions made to international ecommerce/service providers. This not only affects everyone who is intrested in buying stuffs from international portals but even those webmasters and developers who want to buy hosting, domain and other services. Some of the portals are exempted by this rule like google play, App Store and such but we can never be too sure what websites are supported and what are not. So I was hoping if someone could throw a light on the policy and make things clear. The basic doubt that I'm having is should I use my credit card for international online purchases or just drop the idea completly. New RBI restrictions may impact your international online purchases
RBI CIRCULAR ON OVERSEAS FOREX TRADING Unknown 11:16 PM. RBI/2010-11/472A.P. (DIR Series) Circular No. 53. April 07, 2011. To. All Authorised Dealer - Category I banks. Madam / Sir, Overseas forex trading through electronic / internet trading portals. Attention of the Authorised Dealer Category - I (AD Category - I) banks is invited to Regulation 4 of the Foreign Exchange Management (Foreign ... RBI in its statement said that the view is to create market infrastructure that would ensure fair and transparent pricing for users of foreign exchange (such as Small and Medium Enterprise exporters and importers, individuals, etc.). The Reserve Bank in October 2017, had issued a discussion paper proposing to set up a foreign exchange trading platform for retail participants that would provide ... Indian fans of Forex trading have suffered another blow earlier this week, as the Reserve Bank of India (RBI) on September 17th issued a notification that orders banks to act tough on anyone involved in online Forex trading. Like Forex was ever Legal in India . Many of you may ask what's the big deal given that Forex OTC trading has been illegal in India for quite some time and, still, traders ... RBI/2013-14/265 A.P. (DIR Series) Circular No. 46. September 17, 2013. To. All Category - I Authorised Dealer Banks. Madam/ Sir, Overseas forex trading through electronic / internet trading portals. Attention of the Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 53 dated April 07, 2011 and A.P. (DIR Series) Circular No. 46 dated November 17 ... Last week, the RBI issued a circular announcing that the trading platform, FX-Retail, was ready to be rolled out. Retail customers can register on the portal from 1 July and start forex transactions from 5 August with following options for the delivery of their foreign currencies: ‘cash basis’ (same day); ‘tom basis’ (next day); or ‘spot basis’ (two days after the date of transaction). RBI/2010-11/472 A.P. (DIR Series) Circular No. 53. April 07, 2011. To. All Authorised Dealer - Category I banks. Madam / Sir, Overseas forex trading through electronic / internet trading portals. Attention of the Authorised Dealer Category - I (AD Category - I) banks is invited to Regulation 4 of the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 ... RBI has taken of note of different allegations, which were raised related to transparency and fair pricing for retail users. The Reserve Bank of India has allowed individuals and small businesses to use foreign exchange trading platform as they can use the inter-bank trading platform to cut forex deals, a move that will bring transparency in pricing.
Peer To Peer Exchanges - Koinex Loop - WazirX P2P - Coindelta Flux - Working Explained -[Hindi/Urdu]
Basics of FOREX Part ... How to Critique a Website - Duration: 5:22. Mike Locke Recommended for you. 5:22. Trading 101: How to Buy Stocks - Duration: 11:00. ClayTrader Recommended for you. 11:00 ... In this video we shall discuss the RBI Circular on Forex Account for Reinsurance Brokers. To buy the SEBI Gr A 2019 course click here : https://www.edutap.co... RBI CircularForex Account for Reinsurance BrokersMCQsRBI Gr BSEBI Gr A2019 ... Finance Current AffairsRBI Notification on Forex Retail Trading Platform MCQsRBI Gr B2019 by EduTap. 11:58 ... Bank Audit RBI Circular on COVID 19 Asset classification and Provisioning ... Professional Forex Trading Course Lesson 1 By Adam Khoo - Duration: 58:55. Adam Khoo Recommended for you. 58:55. Alpha ... RBI Grade B 2018: https://www.youtube ... Circular Flow of Income. How the different components of an economy interact. - Duration: 5:11. Economics Mafia Recommended for you. 5:11. Indian ... The exchanges charge a transaction fee on every trade. The Reserve Bank of India (RBI) circular on April 6 mandates banks against offering services to exchanges, pushing them toward a peer-to-peer ...