Commercial Banks Current Affairs - 2019

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RBI issues norms to set up Currency Chests

The Reserve Bank of India (RBI) has issued guidelines for banks to set up new currency chests. The guidelines include: Area of the strong room/ vault of at least 1,500 sq ft. For those situated in hilly/ inaccessible places, the strong room/ vault area of at least 600 sq ft. The new chests should have Read More…

Month:  Categories: Business, Economy & Banking

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RBI defers adoption of Ind-AS by 1 year for banks

The Reserve Bank of India (RBI) has deferred adoption of Indian Accounting Standards (Ind AS) by commercial banks for year (till April 2019) due to unpreparedness of banks to migrate to the new accounting system. RBI has requested Government to amend Banking Regulation Act, 1949 as format of financial statements as prescribed under Schedule 3 Read More…

Month:  Categories: Business, Economy & Banking

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