Updated on Dec 14, 2017 09:27:55

 

 

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11-Dec-2017 New Delhi

Financial stability, inclusion go together : Bimal Jalan

Programmes of financial inclusion are part of the larger financial system, the stability of which is essential to the success of the inclusive initiatives, a former Reserve Bank of India (RBI) Governor said on Monday.Noting that financial inclusion has to go hand...

06-Dec-2017 Mumbai

RBI maintains key rates, GVA projection, concerned over inflation

In its penultimate monetary policy review of the fiscal, the RBI on Wednesday maintained status quo on key lending rates while citing concerns over rising inflation. It also retained economic growth projection for the 2017-18 fiscal.The Reserve Bank of...

04-Dec-2017 Mumbai

RBI expected to hold key interest rate on Wednesday

The Reserve Bank of India (RBI) is expected to keep its key interest rate unchanged at its penultimate monetary policy review of the fiscal on Wednesday owing to higher inflation in October and a surge in oil prices, even as the reversal in the decline of...

26-Nov-2017 New Delhi

Populist nationalism damages economic growth: Raghuram Rajan

 Populist nationalism is potentially quite damaging to economic growth, and which is often articulated as the majority community's feelings of aggravation at being discriminated against, former RBI Governor Raghuram Rajan said on Sunday.In a conversation, the...

03-Nov-2017 New Delhi

RBI insolvency move to resolve NPAs not correct : Y.V. Reddy

 The Reserve Bank of India's (RBI) move to direct banks to take the major debt defaulters through the route of insolvency in order to tackle non-performing assets (NPAs) was principally "not correct", former RBI Governor Y.V. Reddy said on Friday."It is essentially...

25-Oct-2017 Mumbai

Bank recapitalisation monumental step to save economy : Urjit Patel

The government's Rs. 2.11 lakh crore plan to recapitalise public sector banks is a major step to restore the banking system's health and safeguard the countrys economic future, RBI Governor Urjit Patel said on Wednesday."The government's decisive package...

24-Oct-2017 Mumbai

RBI fines Yes Bank Rs 6 cr, IDFC Bank Rs 2 cr for non-compliance

The Reserve Bank of India (RBI) on Tuesday announced it has imposed a penalty of Rs 6 crore on Yes Bank and fined IDFC Bank Rs 2 crore for not complying with the directions of the central bank.While Yes Bank delayed reporting an information security incident...

04-Oct-2017 Mumbai

RBI lowers 2017-18 growth projection to 6.7 per cent

 The Reserve Bank of India (RBI) on Wednesday lowered the country's growth projection for 2017-18, pegging the gross value added (GVA) to fall to 6.3 per cent.The central bank had earlier estimated India's GVA in 2017-18 to grow at 7.3 per cent.Taking into...

02-Oct-2017 Mumbai

Reserve Bank of India may opt for status quo on rates

The Reserve Bank of India (RBI) is expected to keep its key interest rate unchanged in its next monetary policy review on Wednesday, in view of the consumer price index (CPI) inflation in August shooting up to 3.36 per cent, according to latest official...

08-Sep-2017 Mumbai

Raghuram Rajan seeks more autonomy to public sector bank boards

Former RBI Governor Raghuram Rajan on Friday called for more autonomy to the boards of public sector banks (PSBs) to make them independent of government shackles.For this, he said the various layers of the government must be removed from the appointment processes...

07-Sep-2017 New Delhi

I may have resigned if note ban was thrust: Raghuram Rajan

Former RBI Governor Raghuram Rajan said on Thursday that he would have resigned if the demonetisation decision was thrust on him but made it clear that the government can bypass the central bank if it wants to push ahead with such a decision."It (demonetisation)...

05-Sep-2017 chennai

As RBI chief, faced no government interference: Raghuram Raja

Speaking of the government's relations with the Reserve Bank of India (RBI), former RBI Governor Raghuram Rajan on Tuesday said that personally he had enjoyed a substantial degree of independence from any interference in his functioning."I basically had a fair...

03-Sep-2017 New Delhi

Slowdown of credit pre-dates banks drive against NPAs : Raghuram Rajan

The slowdown of credit growth in India is not the fallout of state-run banks attempting to resolve their massive non-performing assets (NPAs), or bad loans, problems and pre-dates the recent efforts by banks to clean up their balance sheets, former RBI Governor...

03-Sep-2017 New Delhi

It may take ATMs three months to dispense Rs 200 notes

While the RBI launched the 200-rupee note a week ago, it may take up to three months for ATMs to start dispensing the new denomination currency as it will involve a huge exercise of recalibration.Some banks have even asked the ATM companies to begin testing...

24-Aug-2017 Mumbai

Rs 200 notes to be issued on Friday: Reserve Bank of India

The new Rs 200 notes will be in circulation from Friday, the Reserve Bank of India (RBI) announced on Thursday.The Rs 200 denomination banknote in the Mahatma Gandhi (New) series will bear the signature of RBI Governor Urjit R. Patel and will be initially...

13-Aug-2017 New Delhi

Post note ban, why were new Rs 500 notes late in coming?

Two days after the demonetisation on November 8 last year, the new 2,000-rupee note hit the market in good numbers but the new 500-rupee note took a long time in coming, putting millions of people in difficulty for days on end.Have you ever wondered why...

02-Aug-2017 Mumbai

RBI forms group to improve marginal cost of lending rate system

The Reserve Bank of India (RBI) has constituted an internal group to study the marginal cost of lending rate (MCLR) system for commercial banks designed to improve monetary policy transmission, RBI Deputy Governor Viral Acharya said on Wednesday."The experience...

06-Jul-2017 Mumbai

RBI limits customer liability in online banking frauds

Laying out norms for limiting customer liability in online banking frauds, the Reserve Bank of India (RBI) on Thursday directed banks to credit the amount involved in the unauthorised electronic transaction within 10 working days to the account holder."With...

25-Jun-2017 Mumbai

Bank credit rose to Rs 69 lakh crore by 2014-15

Bank credit in India has grown exponentially in the past 25 years with total outstanding credit rising to Rs 68,78,500 crore from Rs 1,04,300 crore between 1990 and 2015, according to the Reserve Bank of India's (RBI) latest state-wise credit data.The country's...

23-Jun-2017 Mumbai

Now mobile banking complaints under ombudsman : RBI

Widening the scope of its Banking Ombudsman Scheme, the Reserve Bank of India (RBI) has included complaints relating to mis-selling and mobile banking in its purview for which compensation up to Rs 1 lakh can be awarded.The amended Scheme will come into force...

20-Jun-2017

Is RBI's hawkish stance hurting India's growth prospects?

The role of interest rate in Indias growth is grossly underplayed. The movement of interest rates has been strongly linked to episodes of high growth and slowdowns in the last few decades.There are two major puzzles of the Indian economy that have been surprisingly...

15-Jun-2017 Mumbai

Current account deficit narrows in 2016-17 : RBI

India's current account deficit (CAD) narrowed during last fiscal due to a contraction in the country's trade deficit.According to data furnished by the Reserve Bank of India (RBI), the CAD for last fiscal narrowed to 0.7 per cent of the GDP from 1.1 per cent...

13-Jun-2017 Mumbai

RBI issues new batch of Rs 500 notes

The Reserve Bank of India has issued a new batch of Rs 500 denomination notes, an official statement said on Tuesday."In continuation of issuing of Rs 500 denomination banknotes in Mahatma Gandhi (new) series from time to time which are currently legal tender,...

09-Jun-2017 Mumbai

SGBs worth Rs 5,400 cr issued : Reserve Bank of India

The Reserve Bank of India (RBI) on Friday said it has so far issued sovereign gold bonds (SGBs) worth Rs 5,400 crore.According to the apex bank, it has issued eight tranches of SGBs till date. "Investors in these bonds have been provided with the option...

07-Jun-2017 Mumbai

RBI holds key interest rate, says MPC refused Ministry invite

Belying the government and India Inc's hopes, the RBI, in its second bi-monthly monetary policy review of 2017-18, on Wednesday kept its key lending rate unchanged at 6.25 per cent, while Governor Urjit Patel disclosed that the Monetary Policy Committee had...

12-May-2017 Mumbai

GST to have macro economic impact : RBI

Introduction of the GST system is expected to have a macro economic impact and will set a new course for cooperative federalism by strengthening Centre-state partnership, the RBI said in a report released here on Friday.According to the Reserve Bank of India (RBI)...

27-Apr-2017 New Delhi

New notes' stock was ready before demonetisation : RBI

The Reserve Bank of India (RBI) has said that it had a reasonable stock of new Rs 500 and Rs 2,000 currency notes in place before the announcement of demonetisation was made on November 8, 2016.This was revealed by RBI Governor Urjit Patel to the Parliamentary...

06-Apr-2017 Mumbai

RBI maintains key lending rate, frowns upon loan waiver

With inflationary concerns in mind, the Reserve Bank of India (RBI) on Thursday retained its key lending rate unchanged at 6.25 per cent, and criticised loan waiver promises as a "moral hazard" that entails transfer of taxpayers' money.At its first bi-monthly...

06-Apr-2017 Mumbai

Liquidity will be factor in Monetary Policy Review in April : RBI

The RBI on Thursday hinted that the fall out of demonetisation, whereby the banking system is flushed with liquidity adding to inflationary pressures, could be a factor in its holding rates in the April policy review."With progressive remonetisation, the...

06-Apr-2017 Mumbai

RBI maintains key lending rate at 6.25%

The Reserve Bank of India (RBI), in its first bi-monthly monetary policy review of 2017-18, on Thursday kept its key lending rate unchanged at 6.25 per cent, saying it awaited further macroeconomic data before making changes.However, the RBI narrowed the...

31-Mar-2017 New Delhi

Chaos as crowds throng RBI to exchange old currency

Hundreds thronged the RBI here with old demonetised notes to grab new ones on the last day of official exchange on Friday but most people returned home disappointed.Bank officials and security personnel turned away many because the facility was only for those...

29-Mar-2017 Mumbai

Banks to remain closed on April 1 : RBI

The Reserve Bank of India (RBI) on Wednesday said banks need not remain open on April 1, as against its earlier order, because it may affect the annual closing, especially in view of the State Bank of India (SBI) merger."In consultation with the government,...

26-Mar-2017 Kumbakonam (Tamil Nadu)

No plans to introduce new denomination notes : RBI

The Reserve Bank of India currently has no plans of introducing new denomination currencies, a senior RBI official said on Sunday."Presently RBI has no idea to introduce currencies of new denominations. The central banking institution wants to encourage...

26-Mar-2017 Kathmandu

Exchange of Rs 4,500 in old notes allowed in Nepal : RBI

The Reserve Bank of India (RBI) will allow exchange of up to Rs 4,500 in banned Indian currency notes to each Nepali national, a visiting team of the Indian central bank here hinted on Sunday.The Indian proposal has sent waves of nervousness among the Nepali...

23-Mar-2017 Mumbai

Farm loan waiver affects credit discipline : RBI

Echoing State Bank of India chief Arundhati Bhattacharya's views, Reserve Bank of India (RBI) Deputy Governor S.S. Mundra on Thursday expressed concern over farm loan waiver affecting credit discipline."The RBI's views has always been that farm loan waiver affects...

22-Mar-2017 Mumbai

SBI-Mahila Bank merger on April 1 : RBI

The Bharatiya Mahila Bank will be merged with the State Bank of India on April 1, along with five associate banks, the Reserve Bank of India (RBI) said on Wednesday."All branches of Bharatiya Mahila Bank (BMB) will function as branches of the SBI from April...

21-Mar-2017 New Delhi

Cash transaction limit proposed to be cut to Rs 2 lakh

In yet another move to curb black money in India, the government on Tuesday proposed a fresh ceiling of Rs 2 lakh on cash transactions, which is lower than the Rs 3 lakh proposed in Budget 2017-18.An amendment to this effect, was one among the 40 amendments...

13-Mar-2017 Mumbai

All cash withdrawal limits go back to pre-demonetisation era

All limits on savings bank cash withdrawals post-demonetisation ended on Monday, as had been announced by the Reserve Bank of India (RBI) last month.In a two-stage process, the weekly withdrawal limit per account had been raised to Rs 50,000, from Rs 24,000,...

09-Mar-2017 Mumbai

RBI to issue new Rs 10 notes, old ones to remain valid

The Reserve Bank of India (RBI) on Thursday said it will shortly issue new Rs 10 denomination currency notes, while clarifying that the old Rs 10 notes will also remain valid."The Reserve Bank of India will shortly issue Rs 10 denomination banknotes in the...

17-Feb-2017 Mumbai

Proceeding at a fast pace towards remonetisation : Urjit Patel

Reserve Bank of India (RBI) Governor Urjit Patel on Friday said the central bank was moving at a fast pace towards remonetisation, having restored normalcy over a short period as the printing of the currency was going on at full capacity from day one of demonetisation."I...

17-Feb-2017 Mumbai

Foreign stake in HDFC Bank crosses 74% limit again : RBI

Private sector HDFC Bank has again crossed the foreign investment limit prescribed as a percentage of paid-up capital for Indian companies, the Reserve Bank of India (RBI) said on Friday Only a day earlier, on Thursday, the RBI announced that such investments...

17-Feb-2017 New Delhi

Over Rs 1 lakh crore worth new Rs 500 notes have been printed

The Finance Ministry on Friday said that over Rs 1 lakh crore worth of the new Rs 500 notes have already been printed with the presses churning out approximately 22 million pieces of it everyday."More than Rs 1 lakh crore worth new Rs 500 notes have been...

08-Feb-2017 Mumbai

RBI maintains status quo on key lending rate

India's central bank on Wednesday kept key lending rates unchanged, saying it awaits more data on inflation trends and on the impact of demonetisation on economic growth, even as it shifted its monetary policy stance from accommodative to neutral citing inflationary...

08-Feb-2017 Mumbai

Equities tumble after RBI keeps lending rate unchanged

Indian equities markets on Wednesday tumbled as the Reserve Bank of India (RBI) decided to keep its key lending rate unchanged at 6.25 per cent in its sixth and final monetary policy review for 2016-17.The key indices fell by around half a per cent immediately...

02-Feb-2017 Mumbai

RBI cautions against use of bitcoins, other virtual currencies

The Reserve Bank of India (RBI) has cautioned the users of virtual currencies, including bitcoins, pointing out that it has not issued any licence or authorisation to any company to trade in these and that the users are doing it at their own risk."The Reserve...

30-Jan-2017 New Delhi

Current Account curbs go, ATMs to follow

In response to the Election Commissions (EC) request to enhance the cash withdrawal limit for nominated candidates in the five poll-bound states from Rs 24,000 to Rs 2 lakh per week, the RBI on Monday ended all curbs on withdrawals from Current Accounts,...

20-Jan-2017 New Delhi

Cash flow to be normal soon, cut in online charges: Urjit Patel

Cash flow, restricted post-demonetisation, will normalise soon but might take longer in rural and remote areas, Reserve Bank of India (RBI) Governor Urjit Patel informed a parliamentary panel on Friday.He further asserted that demonetisation would be beneficial...

20-Jan-2017 New Delhi

Cash flow to normalise soon : Urjit Patel

Reserve Bank of India Governor Urjit Patel on Friday is learnt to have said that cash flow in the country will normalise soon.Patel, according to sources, told this to the Public Accounts Committee (PAC) of Parliament while answering queries from the lawmakers...

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