Availability of NEFT System on 24×7 basis | Notification issue by RBI

359 ViewsRBI/2019-20/111DPSS (CO) RPPD No.1097/04.03.01/2019-20 December 6, 2019 The Chairman/Managing Director/Chief Executive Officerof member banks participating in NEFT payment system Madam/Dear Sir Availability of National Electronic Funds Transfer (NEFT) System on 24×7 basis Please refer to our circular DPSS (CO) RPPD No.510/04.03.01/2019-20 dated August 30, 2019 regarding availability of NEFT on a 24×7 basis. 2. […]

Supersession of the Board of Directors and Appointment of Administrator – Dewan Housing Finance Corporation Limited

164 ViewsReserve Bank of India In exercise of the powers conferred under Section 45-IE (I) of the Reserve Bank of India Act, 1934, the Reserve Bank has today superseded the Board of Directors of Dewan Housing Finance Corporation Limited (DHFL) owing to governance concerns and defaults by DHFL in meeting various payment obligations. Shri R. […]

Prevention of Fraudulent Banking Practices 

127 Views Ministry of Finance The Ministry of Finance has taken number of steps to eliminate fraudulent banking practices. This was stated by Shri Anurag Thakur Minister of State for Finance & Corporate Affairs in a written reply to a question in the Rajya Sabha today. He stated that steps include, inter-alia, the following: Government has issued […]

Now Bank Charges will not be imposed on NEFT | Reserve Bank of India Take Setps

150 ViewsRBI Press Release: 2019-2020/1142 Furthering Digital Payments In pursuance of its vision to promote digital payments, Reserve Bank’s endeavour has been to establish state of the art payment systems that are efficient, convenient, safe, secure and affordable. The efforts have resulted in a rapid growth in the retail digital payment systems as below: 2. […]