Press Releases - RBI - Reserve Bank of India
Press Releases
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Jul 24, 2007Working Group to suggest Measures to Assist Distressed FarmersNotwithstanding the policy initiatives taken by the Central Government, RBI and NABARD to facilitate hassle-free flow of credit from the institutional financial sector to the agricultural/rural sector, the Indian agriculture has been facing difficult times and the Indian farmers have been experiencing extreme distress. The spate of suicides by farmers in different parts of the country is a palpable manifestation of this unfortunate state of affairs. In order to addresNotwithstanding the policy initiatives taken by the Central Government, RBI and NABARD to facilitate hassle-free flow of credit from the institutional financial sector to the agricultural/rural sector, the Indian agriculture has been facing difficult times and the Indian farmers have been experiencing extreme distress. The spate of suicides by farmers in different parts of the country is a palpable manifestation of this unfortunate state of affairs. In order to addres
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May 24, 2007Customers can now appeal against the Banking Ombudsman's DecisionBank customers can now appeal against the decision of the Banking Ombudsman where he has rejected the customer's complaint relating to matters falling within the grounds of complaints specified under the scheme. The Reserve Bank of India has amended the Banking Ombudsman Scheme, 2006 to enable the customers to appeal against the Banking Ombudsman's decision. The amendments are available on the RBI website. Before the scheme was amended, the bank customers could appealBank customers can now appeal against the decision of the Banking Ombudsman where he has rejected the customer's complaint relating to matters falling within the grounds of complaints specified under the scheme. The Reserve Bank of India has amended the Banking Ombudsman Scheme, 2006 to enable the customers to appeal against the Banking Ombudsman's decision. The amendments are available on the RBI website. Before the scheme was amended, the bank customers could appeal
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Oct 11, 2006RBI releases Report of Working Group on Improvement of Banking Services in UttaranchalThe Reserve Bank of India has today placed on its website (www.rbi.org.in), the report of a Working Group on improvement of banking services in Uttaranchal. The Reserve Bank had set up the Working Group under the chairmanship of Shri V. S. Das, Executive Director, Reserve Bank of India to examine the problems/issues relating to banking services in the State and prepare an action plan to be implemented for the purpose. The Working Group reviewed the role of banks and fThe Reserve Bank of India has today placed on its website (www.rbi.org.in), the report of a Working Group on improvement of banking services in Uttaranchal. The Reserve Bank had set up the Working Group under the chairmanship of Shri V. S. Das, Executive Director, Reserve Bank of India to examine the problems/issues relating to banking services in the State and prepare an action plan to be implemented for the purpose. The Working Group reviewed the role of banks and f
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Aug 21, 2006RBI releases Report of Committee on Financial Sector Plan for NE RegionIt may be recalled that, the Reserve Bank of India had, on January 25, 2006, set up a committee to achieve greater financial inclusion and provision of financial services in the North-Eastern region (NER) and also to prepare an appropriate state-specific monitorable action plan for the region. Deputy Governor, Smt. Usha Thorat was the Chairman of the Committee. The Committee has since submitted its report, which is now placed in the Reserve Bank's website. The CommittIt may be recalled that, the Reserve Bank of India had, on January 25, 2006, set up a committee to achieve greater financial inclusion and provision of financial services in the North-Eastern region (NER) and also to prepare an appropriate state-specific monitorable action plan for the region. Deputy Governor, Smt. Usha Thorat was the Chairman of the Committee. The Committee has since submitted its report, which is now placed in the Reserve Bank's website. The Committ
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May 18, 2006Working Group to suggest measures to assist distressed farmersThe Reserve Bank of India today constituted a Working Group to suggest measures to assist distressed farmers including provision of financial counselling services and introduction of a specific Credit Guarantee Scheme under the Deposit Insurance and Credit Guarantee Corporation of India (DICGC) Act for such farmers. The members of the Working Group will be: 1. Prof. S.S. Johl, Vice Chairman, Punjab State Planning Board – Chairman 2. Dr. Y.S.P. Thorat, Chairman, NationThe Reserve Bank of India today constituted a Working Group to suggest measures to assist distressed farmers including provision of financial counselling services and introduction of a specific Credit Guarantee Scheme under the Deposit Insurance and Credit Guarantee Corporation of India (DICGC) Act for such farmers. The members of the Working Group will be: 1. Prof. S.S. Johl, Vice Chairman, Punjab State Planning Board – Chairman 2. Dr. Y.S.P. Thorat, Chairman, Nation
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Dec 26, 2005RBI expands Scope of Banking Ombudsman Scheme; Includes Fair Banking PracticesThe Reserve Bank of India today announced the revised Banking Ombudsman Scheme with enlarged scope to include customer complaints on certain new areas, such as, credit card complaints, deficiencies in providing the promised services even by banks' sales agents, levying service charges without prior notice to the customer and non adherence to the fair practices code as adopted by individual banks. Applicable to all commercial banks, regional rural banks and scheduled pThe Reserve Bank of India today announced the revised Banking Ombudsman Scheme with enlarged scope to include customer complaints on certain new areas, such as, credit card complaints, deficiencies in providing the promised services even by banks' sales agents, levying service charges without prior notice to the customer and non adherence to the fair practices code as adopted by individual banks. Applicable to all commercial banks, regional rural banks and scheduled p
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Jul 01, 2005Priority Sector Lending - Investment by banks in venture capitalThe concept of priority sector lending was introduced in 1969 to underscore the necessity of financing by banks of certain neglected sectors like agriculture. Although initially there were no specific targets fixed in respect of priority sector lending, the banks were advised in November 1974 to raise the share of their lending to this sector to the level of 331/3 per cent of their aggregate advances and subsequently to 40 per cent. The investments made by the commercThe concept of priority sector lending was introduced in 1969 to underscore the necessity of financing by banks of certain neglected sectors like agriculture. Although initially there were no specific targets fixed in respect of priority sector lending, the banks were advised in November 1974 to raise the share of their lending to this sector to the level of 331/3 per cent of their aggregate advances and subsequently to 40 per cent. The investments made by the commerc
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Jun 30, 2005Reserve Bank proposes changes in Banking Ombudsman Scheme to include customer complaints relating to credit cardsThe Reserve Bank has today released a draft Banking Ombudsman Scheme 2002 (as amended upto June 2005) for public comments. The Reserve Bank has proposed to amend the Banking Ombudsman Scheme to widen its scope to reflect the present needs of the bank customers. With this in view, it has proposed to cover under the Banking Ombudsman Scheme the customer complaints relating to banks' credit card operations even when they are offered by their subsidiaries. The proposed amThe Reserve Bank has today released a draft Banking Ombudsman Scheme 2002 (as amended upto June 2005) for public comments. The Reserve Bank has proposed to amend the Banking Ombudsman Scheme to widen its scope to reflect the present needs of the bank customers. With this in view, it has proposed to cover under the Banking Ombudsman Scheme the customer complaints relating to banks' credit card operations even when they are offered by their subsidiaries. The proposed am
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May 17, 2005RBI releases the draft Report of the Internal Working Group on RRBsThe Reserve Bank of India (RBI) today released the draft Report of the Internal Working Group on Regional Rural Banks (RRBs), which was constituted to examine various alternatives available within the existing legal framework for strengthening the RRBs and making them viable rural financing institutions. The Group studied the recommendations made by various committees constituted in the past on the subject and made a comprehensive state-wise/ sponsor bank-wise reviewThe Reserve Bank of India (RBI) today released the draft Report of the Internal Working Group on Regional Rural Banks (RRBs), which was constituted to examine various alternatives available within the existing legal framework for strengthening the RRBs and making them viable rural financing institutions. The Group studied the recommendations made by various committees constituted in the past on the subject and made a comprehensive state-wise/ sponsor bank-wise review
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May 06, 2005RBI sets up a Working Group on enhancing Credit to J&KDr.Y. V. Reddy, Governor, Reserve Bank of India on May 5, 2005 met the Chief Minister of the State Shri Mufti Mohammed Sayeed and proposed to set up a Working Group on Credit for Jammu & Kashmir. Dr. Reddy was in Srinagar to host the board meeting of the Reserve Bank of India. The Central Board of Directors of the Reserve Bank of India (RBI) met in Srinagar on May 5, 2005 to review the key economic, monetary and financial developments. Dr. Reddy chaired the meetinDr.Y. V. Reddy, Governor, Reserve Bank of India on May 5, 2005 met the Chief Minister of the State Shri Mufti Mohammed Sayeed and proposed to set up a Working Group on Credit for Jammu & Kashmir. Dr. Reddy was in Srinagar to host the board meeting of the Reserve Bank of India. The Central Board of Directors of the Reserve Bank of India (RBI) met in Srinagar on May 5, 2005 to review the key economic, monetary and financial developments. Dr. Reddy chaired the meetin
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