Inter-Bank Hindi Essay Competition of Reserve Bank of India – Year 2016-17

With a view to encourage original writing in Hindi on banking subjects, Reserve Bank of India conducts an inter-bank Hindi Essay Competition every year. All Officers and Staff Members (Except Rajbhasha Officers and Translators) can participate in…

The post Inter-Bank Hindi Essay Competition of Reserve Bank of India – Year 2016-17 appeared first on Central bank news.

RBI releases ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: June 2016’

The Reserve Bank of India released today Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks (SCBs) as on June 24, 2016. The data are based on quarterly survey of SCBs including Regional Rural Banks (RRBs) and include data o…

The post RBI releases ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: June 2016’ appeared first on Central bank news.

FIIs/RFPIs can now invest up to 30 per cent under PIS in M/s Ultra Tech Cement Limited

The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 30 per cent of the paid up capital of M/s Ultra Tech Cement Limited under the Portfolio …

The post FIIs/RFPIs can now invest up to 30 per cent under PIS in M/s Ultra Tech Cement Limited appeared first on Central bank news.

Authorisation to operate as a Bharat Bill Payment Operating Unit (BBPOU)

The Reserve Bank of India advises that the applications received from banks and non-banks for authorisation to operate as a BBPOU have been processed and decisions on approval or grant of extension of time till December 31, 2016 for achievement of net worth or return of the application, as applicable, have been communicated to these entities.

Non-bank entities whose applications were returned for want of one year domain experience at the time of applying, can seek extension of time up to December 31, 2016 for meeting this eligibility criteria provided they had commenced billing business at the time of making the application.

Entities undertaking the business of billing under the current scope of BBPS would be required to become an agent of an authorised BBPOUs or exit the business of bill payments covered under the scope of Bharat Bill Payment System (BBPS) by May 31, 2017 in cases where they –

  1. did not apply for authorization as a BBPOU, or

  2. their application for BBPOU has been returned by RBI, or

  3. were granted extension of time by RBI but are not able to achieve and report the required networth by December 31, 2016.

Those entities that fail to comply with the above requirements will become liable for action under the Payment and Settlement Systems Act, 2007.

After operationalisation of BBPS and based on the experience gained, RBI will review the need for fresh applications for authorisation to operate as a BBPOU and also consider expanding the scope of domain experience for eligibility purposes and type of bill payments covered.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/536

Related Circulars and Press Releases
May 13, 2016 Applications for authorising BBPOUs: Status
November 24, 2015 RBI grants ‘in-principle’ approval to NPCI to function as the central unit for Bharat Bill Payment Systems (BBPS)
November 13, 2015 RBI extends last date for receipt of applications for authorising Bharat Bill Payment System Operating Units (BBPOUs)
October 20, 2015 RBI invites Applications for authorising Bharat Bill Payment System Operating Units (BBPOUs)
November 28, 2014 Implementation of Bharat Bill Payment System (BBPS) – Guidelines

The post Authorisation to operate as a Bharat Bill Payment Operating Unit (BBPOU) appeared first on Central bank news.

Wave analysis – We continue buying

USDJPY – DownAfter an abrupt growth, the price took correction, where it still remains. At the moment, the wave iii of the rising impulse is being developing, which apparently will be extended. During this respite, we should be looking for opportunities to enter a long position either add new ones. The pair has clearly set to continue movement in the upward direction, which is expected to have an impulse character. Thus, purchases are highly relevant now.
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.

Wave analysis – We continue buying

USDJPY – DownAfter an abrupt growth, the price took correction, where it still remains. At the moment, the wave iii of the rising impulse is being developing, which apparently will be extended. During this respite, we should be looking for opportunities to enter a long position either add new ones. The pair has clearly set to continue movement in the upward direction, which is expected to have an impulse character. Thus, purchases are highly relevant now.
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.

Wave analysis – We are waiting for bearish miracle

GBPUSD – FlatThe wave frame indicates intention of the price to move down. Correction in the form of a zigzag is over, but after that so far no clear movement took place.In the near future the pair can finally take impulse downward acceleration caused by formation of the wave 3 of downward momentum. So far, it remains to wait and hold short positions open.
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.