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RBI caps age at 70 for bank MD, CEO, director positions Updated: Updated: Regulator fixes upper limit of 15 years for post tenures Share Article Regulator fixes upper limit of 15 years for post tenures The Reserve Bank of India (RBI) on Monday fixed the tenure of MD, CEO and whole-time director (WTD) in a private sector bank at 15 years and prescribed the maximum age of 70 years for such functionaries. These directives form part of the instructions issued by the RBI on Monday with regard to the chair and meetings of the board, composition of certain committees of the board, age, tenure and r...

RBI Master Direction on export of goods and services states that ECGC claims are not treated as realisation and so, BRC cannot be issued. While writing off bills on the basis of ECGC claim and closing my shipping bill in EDPMS, the bank wants me to surrender export incentives, whereas HBP states that ECGC claims can be considered for claiming export incentives. Under which conditions can ECGC claims be considered for availing export incentives, so that I can get my shipping bill closed in the EDPMS without surrendering incentives? Para C.24 of the RBI Master Direction no.16/2015-16 dated Janu...

RBI Master Direction on export of goods and services states that ECGC claims are not treated as realisation and so, BRC cannot be issued. While writing off bills on the basis of ECGC claims and closing my shipping bill in EDPMS, the bank wants me to surrender export incentives, whereas HBP states that ECGC claims can be considered for claiming export incentives. Under which conditions can ECGC claims be considered for availing export incentives, so that without I can get my shipping bill closed in the EDPMS without surrendering incentives? Para C.24 of the RBI Master Direction no.16/2015-16 ...

Highlights Increase from Rs 1 lakh to Rs 2 lakh. Maximum end-of-day balance hiked. New Delhi: The Reserve Bank of India (RBI) has doubled the limit of maximum balance that an individual customer can hold with Payments Banks. Additionally, while your mobile wallets may soon turn into a bank as they will be allowed to transfer and get funds, just like you do with your bank account. Henceforth, Payments Banks can hold a maximum balance of Rs 2 lakh per individual customers at the end of the day. To promote optimal utilisation of payment instruments (like cards, wallets etc.), and given the const...

Know the law: What are the legal restrictions involved in wiring money from India?