Some sections of the media have reported that Government will directly intervene to monetize the gold held by charitable, religious and other institutions. It is clarified that this is complete misinformation. The Gold Monetization Scheme is entirely voluntary and it is for individuals, institutions and others to take their own decision to monetize the gold…
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the 56 (fifty six) non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Following the cancellation of registration certificate, these companies cannot transact the business of a…
In view of the severe floods in the State of Tamil Nadu, Department of Financial Services had issued the following guidelines to be followed by Banks and other Financial Institutions.It is imperative that all steps be taken to extend every possible facilitation to the affected people who are insured persons/nominees and may have been injured/lost…