Reserve Bank of India (RBI) Governor Shaktikanta Das today announced a second tranche of liquidity boost for the economy. The announcements covered four key points: A 25 basis point reverse repo cut taking it to 3.75 per cent from 4 per cent earlier. The move has been … [Read more...] about RBI Provides NPA relief to banks, curbs dividends, cuts Reverse Repo by 25 basis points and Rs 50,000 crore TLTRO 2.0 for NBFCs
BANKER CUSTOMER RELATIONSHIP
The relationship between a banker and a customer comes into existence when the banker agrees to open an account in the name of the customer. The relationship between a banker and a customer depends on the activities, products, or services provided by the bank to its customers or … [Read more...] about BANKER CUSTOMER RELATIONSHIP
NOMINATION FACILITY IN BANK ACCOUNTS
Nomination is the right conferred upon the holder of a bank account to appoint one or more persons who will be entitled to receive monies upon the death of the account holder. In the event of death of an account or locker holder, the bank can release the account proceeds or … [Read more...] about NOMINATION FACILITY IN BANK ACCOUNTS
CLAIM SETTLEMENT PROCESS FOR DECEASED ACCOUNTS IN BANKS
RBI has issued a Master Circular on Customer Service in Banks on July 1, 2015. RBI explained the Settlement of claims in respect of deceased depositors in bank. As per the circular, RBI has simplified the procedure the settlement process in deceased account payment. According to … [Read more...] about CLAIM SETTLEMENT PROCESS FOR DECEASED ACCOUNTS IN BANKS
BANKING CODES AND STANDARDS BOARD OF INDIA (Jan.2018)
RBI constituted committee on Procedures and Performance Audit of Public Services in November 2003, under the chairmanship of Shri S. S. Tarapore (former Dy. Governor) to address the issues relating to availability of adequate banking services to the common man. Therefore, RBI, in … [Read more...] about BANKING CODES AND STANDARDS BOARD OF INDIA (Jan.2018)