There are reports in some sections of the media that based on rumours of ICICI Bank facing liquidity problems, depositors are withdrawing cash at its ATMs and branches in Gujarat. The Reserve Bank of India is monitoring the developments and has arranged to provide adequate cash to ICICI Bank to meet the demands of its customers at the branches/ATMs. It is clarified that the ICICI Bank has sufficient liquidity, including in its current account with the Reserve Bank of

The Reserve Bank of India has decided to keep its tax collection counters open for extended time on March 29, 2003 and March 31, 2003 beyond normal business hours to facilitate payment of taxes by tax assessees. The Reserve Bank has also asked all public sector banks and other banks authorised to collect taxes, to keep their tax collecting branches open for a reasonably longer time for this purpose only. In a circular issued on March 27, 2003, the Reserve Bank has ask

The Reserve Bank of India has today released the lending rates of scheduled commercial banks for the quarter October to December 2002 on its website (www.rbi.org.in ). The data include the range of actual and median lending rates for credit above Rs. two lakh as well as actual and median lending rates for export credit in rupee terms. Both these categories of data are available bank-group wise. An additional table presenting the lending rates of individual banks for c

The Reserve Bank of India has stated that the clearing house in Mumbai will not function on March 14, 2003 as the Government of Maharashtra has declared it as a holiday under the Negotiable Instruments Act, 1881 on account of Moharrum. Earlier, the holiday for Moharrum was declared on March 15, 2003. Now, the clearing house will function normally on March 15, 2003The clearing house in Reserve Bank of India in Mumbai will also remain closed on May 14, 2003 instead of M

To avoid long queues and inconveniences for payment of income tax (IT) at the Reserve Bank counters, the Reserve Bank of India has appealed to the tax payers to utilise the services available at various branches of public sector banks in Mumbai and Navi Mumbai and deposit their income tax dues well in advance of the last date. Income Tax Assessees can now pay advance income tax at any of the 820 branches of public sector banks and HDFC Bank at Mumbai and Navi Mumbai.

'Banking Statistics: Quarterly Handout – September 2002' provides data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last Friday of September 2002.The data have been presented according to top hundred centres, states, districts, population groups and bank groups. The primary data have been collected from all scheduled commercial banks through the BSR-7 return. The top hundred centres arranged according to the size of deposits acco

The Government of India had constituted a Working Group to study Lenders' Liability Laws of other countries and their implications on the borrowers, lenders, regulators and other stakeholders and to make recommendations regarding legislative proposals suitable for Indian conditions. The Group submitted its report in October 2002. After considering the pros and cons of the issue, the Group has recommended that for the time being a Fair Practices Code may be framed by t

It was reported in a section of the press today that the Reserve Bank of India has allowed banks to sanction loans against Relief Bonds.The Reserve Bank of India has clarified that as per Government of India instructions, banks are allowed to sanction loans against Relief Bonds only. This facility is not available against 7 per cent Savings Bonds, 2002, which is a new scheme introduced in October 2002. The 7 per cent Savings Bonds 2002, which were introduced from Octo

The Reserve Bank of India has released a compendium in the form of a CD-ROM containing annual accounts data of Scheduled Commercial Banks (including Regional Rural Banks) for the period 1989-90 to 2000-01. The CD-Rom contains bank-wise information on items of liabilities, assets, earnings and expenses and also the following business ratios disclosed by the banks as a part of the `notes on annual accounts' from the year 1997-98:Capital Adequacy Ratio,Net NPA as a perce

In view of the press reports regarding the movement of share prices of Nedungadi Bank Ltd., the Reserve Bank of India has invited public attention to a clause (clause 7(1) of Chapter IV) in the draft scheme of amalgamation of Nedungadi Bank Ltd. with Punjab National Bank which prescribes that the entire amount of the paid up capital and reserves of the Nedungadi Bank Ltd. would be treated as provision for bad and doubtful debts and depreciation and other assets of the