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RBI Releases Report on Trend and Progress of Banking in India 2012-13

Mumbai (ABC Live):The Reserve Bank of India today released the statutory Report on Trend and Progress of Banking in India 2012-13. This Report presents the performance and salient policy measures relating to the banking sector during 2012-13. The Report also provides an analysis of the co-operative banks and non-banking financial institutions. The key messages of the Report are set out below: …

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SEBI Passes ex-parte Order in Sunil Laxman Kale,Trendline

Mumbai (ABC Live):Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI has passed an ex-parte order on November 18, 2013 in the matter of Sri Sunil Laxman Kale, sub broker and Trendline Traders Academy (Trendline) and issued the following directions: (i) Sri Sunil Laxman Kale  and Trendline are restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing …

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IFC Issues 10 Billion Indian Rupee Global Bond to Strengthen India’s Capital Markets

Washington, D.C./New Delhi, November 20, 2013(ABC Live): IFC, a member of the World Bank Group, today issued an Indian rupees 10 billion (approximately $160 million) global Indian rupee bond to strengthen India’s capital markets and attract greater foreign investment in a time of renewed economic uncertainty across the world. The bond is IFC’s first rupee issuance, and the first bond issued …

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RBI Asks Urban Co-operative Banks to Verify Beneficiaries List Under ADWDRS, 2008

Mumbai (ABC Live): The Reserve Bank of India (RBI) has written a letter to all Urban Co-operative Banks (UCBs) to verify of list of beneficiaries under ADWDRS, 2008 and take corrective steps as indicated as per its Circular UBD.BPD. (PCB) Cir. No.40/13.05.006/2012-13 dated March 7, 2013. In this connection, attention of UCBs is invited to para 1(iii) thereof, wherein it …

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RBI Appeals All Non-Bank Finance Companies to Join NALSA’s Lok Adalat

Mumbai(ABC Live):The Reserve Bank of India (RBI) has appealed to all Non-Bank Finance Companies (NBFCs) to participate in the Lok Adalat being organised by National Legal Services Authority (NALSA) on November 23, 2013. The Department of Financial Services, Ministry of Finance communicated that the National Legal Services Authority (NALSA) is organising an All-India Lok Adalat on November 23, 2013 in …

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RBI to Conduct E-Kuber System Auction on 19th November 2013

Mumbai(ABC Live):The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on November 19, 2013 (Tuesday). The Government Stock up to 10 % of the notified amount of the sale of each of the stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1 % of its notified …

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NCFE Invites Students to Participate in its National Financial Literacy Assessment Test

Mumbai (ABC Live): The National Centre for Financial Education (NCFE) has invited all school students from classes VIII to X to participate in its National Financial Literacy Assessment Test (NCFE-NFLAT). To be conducted on January 12, 2014, the test would be of 60 minutes and would contain 75 questions. The test would be conducted in both, English and Hindi and …

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RBI Releases Monthly Data on India’s International Trade

Mumbai (ABC Live):The Reserve Bank releases provisional aggregate monthly data on India’s international trade in services with a lag of around 45 days. Accordingly, the data for the month of August 2013 were released on October 15, 2013. The value of exports and imports of services during the month of September 2013 are given in the following Table. Table: International …

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RBI Bans Foreign Investment by NRIs in Carnation Industries Limited

Mumbai (ABC Live): The Reserve Bank of India has today notified that the aggregate net purchases of equity shares in M/s Carnation Industries Limited by Foreign Institutional Investors (FIIs) in the primary/secondary markets under Portfolio Investment Scheme (PIS) have reached the trigger limit. Accordingly, no further purchases of this company would be allowed through stock exchanges on behalf of Non-Resident Indians (NRIs)/Persons …

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RBI Chief Dr. Raghuram Rajan Fails to Understand Any Fundamental Reason for Volatility of Indian Rupee

Mumbai(ABC Live): Where Indian Rupee’s volatile behavior has shaken the all sections of Indian society especially business, the Reserve Bank of India’s chief Dr. Raghuram Rajan failed to find any reason for volatility in the value of the rupee. Further, Dr. Rajan advised Indians that, “We are left with fear about what others will fear and do to explain what …

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