Banking Rules
Latest news, explainers and analysis on Banking Rules. Tracking 3 stories on Arth Vani.
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Latest on Banking Rules
BreakingFEDAI Curbs Unauthorised Forex Conversions by Banks, Protects Indian Exporters & Individuals
The Foreign Exchange Dealers' Association of India (FEDAI) has directed banks not to convert foreign currency remittances into Indian Rupees without explicit instructions from the sender or recipient. This move aims to prevent individuals and small exporters from receiving less money due to unfavourable exchange rates previously imposed by banks. Banks must now also ensure transparent forex charges and disclose conversion rates on their websites.
BreakingRBI to Change Bulk FD Rules from October 1: What Depositors & Banks Need to Know
The Reserve Bank of India (RBI) will implement new rules for bulk Fixed Deposits (FDs) starting October 1, 2024. These changes are expected to impact both individual depositors and banking institutions, with specific details yet to be announced.
BreakingRBI Proposes Standard Rules for Banks to Block Accounts in Cyber Fraud Cases
The Reserve Bank of India (RBI) has introduced draft guidelines to standardize how banks block accounts involved in cyber fraud. This aims to create a uniform procedure across all banks, making it easier and faster to respond to online financial crimes.
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