A K GUPTA’S BANKERS TRAINING INSTITUTE (75, Block BG - I, Paschim Vihar, New Delhi – 110063; Ph 011 65476949, 011 25274157, 09350476949)

VARIOUS RATES AT GLANCE
Bank Rate / 6.25% / 02.08.2017
CRR / 4.00% / 09.02.2013
SLR / 19.50% / 14.10.2017
Repo Rate / 6.00% / 02.08.2017
Reverse Repo Rate / 5.75% / 02.08.2017
MSF Rate / 6.25% / 02.08.2017
  1. RBI amends Banking Ombudsman Scheme: Maximum amount of award by BO – Rs 20 lakh
  2. Individual Housing Loans: Risk-Weights and Loan to Value (LTV) Ratios: As a countercyclical measure, the LTV ratios, risk weights and standard asset provisioning rate for individual housing loans sanctioned on or after 7 June 2017, shall be as under:

Outstanding loan / LTV ratio (%) / Risk Weight (%) / Standard Asset Provision (%)
Up to Rs.30 lakh / 80 / 35 / 0.25
> 80 and90 / 50
Above Rs.30 lakh and up to Rs.75 lakh / 80 / 35
Above Rs.75 lakh / 75 / 50
  1. Issue of Rs 10 coin to commemorate the occasion of “150th Birth Anniversary of Shrimad Rajchandra”: The Government of India has minted the above mentioned coin which the Reserve Bank of India will shortly put into circulation. The coin has been released by the Hon’ble Prime Minister of India.
  2. Eligible Credit Rating Agencies – INFOMERICS Valuation and Rating Pvt Ltd. (INFOMERICS): At present six domestic credit rating agencies viz. CARE, CRISIL, FITCH India, ICRA, Brickwork Ratings and SMERA have been accredited for the purpose of risk weighting the banks' claims for capital adequacy purposes. Now, RBI has decided that banks may also use the ratings of the INFOMERICS Valuation and Rating Pvt Ltd. (INFOMERICS).
  3. National Electronic Funds Transfer (NEFT) system – Settlement at half-hourly intervals: RBI has decided to introduce 11 additional settlement batches during the day (at 8.30 am, 9.30 am, 10.30 am ……… 5.30 pm and 6.30 pm), taking the total number of half hourly settlement batches during the day to 23. The starting batch at 8.00 am and closing batch at 7.00 pm shall remain the same. The return discipline shall also remain the same i.e., B+2 hours (Settlement batch time plus two hours) as per extant practice. The additional batches will be introduced from July 10, 2017 (Monday).
  4. Sovereign Gold Bonds, 2016-17: Denomination: The Bonds shall be denominated in units of one gram of gold and multiples thereof. Minimum size: Minimum permissible investment will be 1 units (i.e. 1 grams of gold).Maximum limit: The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained. Interest: The Bonds shall bear interest at the rate of 2.5 per cent (fixed rate) per annum on the amount of initial investment. Interest shall be paid in half-yearly rests.
  5. Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions (March 30, 2017): (i) For transactions upto ₹ 1000/-, MDR shall be capped at 0.25% of the transaction value; (ii) For transactions above ₹ 1000/- and upto ₹ 2000/-, MDR shall be capped at 0.5% of the transaction value. The above measures shall not apply to ATM transactions.
  6. Branches of SBBJ, SBH, SBM, SBP and SBT & Bharatiya Mahila Bank Limited to operate as branches of SBI from April 1, 2017
  7. Changes in CGTMSE: 1. Maximum amount of eligible loan – Rs 2 crore (earlier it was Rs 1 crore); Max claim – Rs 1 crore (earlier it was Rs 50 lakh); 3. Maximum interest rate for being eligible for cover: 14%
  8. Changes in RDB Act ( DRT): For appeal from DRT to DRAT, the period reduced from 45 days t0 30 days; If borrower wants to appeal he is required to deposit 50% of judgement amount with DRAT (earlier it was 75%) and it can be reduced to 25% by DRAT (earlier it could be reduced to 0%)
  9. Latest Deputy Governor: Shri B P Kanungo & before him Dr. Viral V. Acharya Appointed Deputy Governor, Reserve Bank of India:
  10. Revision of interest rates for Small Savings Schemes :

Scheme / w.e.f. 01.07.2017 to 30.09.2017
5 year SCSS, 2004 / 8.3% p.a
PPF, 1968 / 7.8% p.a
Sukanya Samriddhi Account Scheme / 8.3% p.a
  1. Priority Sector Lending - Lending to non-corporate farmers (September 1, 2016): RBI has advised banks to ensure that their overall direct lending to non-corporate farmers does not fall below the system-wide average of the last three years achievement. The applicable system wide average figure for computing achievement under priority sector lending for the FY 2016-17 is 11.70%.
  2. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) – Amendments (June 30, 2016): With effect from June 1, 2016 claims for deaths which occur during the first 45 days from the date of enrolment will not be paid, effectively meaning that the risk cover will commence only after the completion of 45 days from the date of enrolment into the scheme by the member. However, deaths due to accidents will be exempt from the Lien Clause.

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