The Reserve Bank of India (RBI) has extended the restrictions on Karnataka-based Millath Co-operative Bank by three months, till August 8, 2021. As per RBI's directions, the co-operative bank shall not, without prior approval of RBI in writing grant or renew...

To enable the State Governments to better manage their fiscal situation in terms of their cash-flows and market borrowings, the Reserve Bank of India (RBI) on Wednesday permitted certain relaxations with regard to availment of Overdraft (OD) facilities.Accordingly,...

To encourage retail participation in the government securities (G-Sec) market, the Reserve Bank of India (RBI) on Friday decided to give investors direct access to the G-Sec market.The major structural reform was announced by the RBI Governor Shaktikanta...

The Reserve Bank of India (RBI) on Friday retained its key short-term lending rates to subdue the unabatedly high inflation rate.However, the Monetary Policy Committee (MPC) of the central bank maintained the growth-oriented accommodative stance, thus opening...

The Reserve Bank has asked HDFC Bank to temporarily stop all launches of the Digital Business generating activities and sourcing of new credit card customers.The RBI's order  dated December 2 comes after outages in the bank's online facilities or payment...

The Reserve Bank has asked HDFC Bank to temporarily stop all launches of the Digital Business generating activities and sourcing of new credit card customers.The RBI's order  dated December 2 comes after outages in the bank's online facilities or payment...

The Indian economy has exhibited stronger pick up in momentum of recovery than expected, said Reserve Bank of India Governor Shaktikanta Das on Thursday.Addressing the 4th Annual Day of Foreign Exchange Dealers' Association of India (FEDAI), he cited that...

India has technically entered into a recession with a likely contraction in its GDP during the July-September period, according to a report by the Reserve Bank of India (RBI).RBI's Economic Activity Index estimates that India's GDP growth for the second quarter...

The Reserve Bank of India on Tuesday informed the Supreme Court that banks are free to decide on the aspect of financing the Amrapali projects in accordance with their commercial judgements.A bench comprising Justices U.U. Lalit and Ashok Bhushan directed...

Persistently high inflation fanned in part due to supply side disruptions along with seasonal factors led the Reserve Bank of India to maintain the key lending rates.Accordingly, the Monetary Policy Committee of the central bank in its penult imate meet for 2020,...

The Reserve Bank of India (RBI) should take a prompt and correct action of merging the 93-year-old Lakshmi Vilas Bank (LVB) with a nationalised bank, a top leader of one of the largest bank unions said."There are a number of corporate vultures that are circling...

The recovery of the Indian economy reeling from the impact of the Covid-19 pandemic will be gradual, RBI Governor Shaktikanta Das said on Wednesday.Addressing the FICCI National Executive Committee Meeting, the central bank chief said that the country is...

Former RBI Governor Raghuram Rajan has said that as the payment moratorium allowed by the central bank, along with other repayment relaxations, comes to an end and several entities are expected to default, the government should come up with a "well-thought-out"...

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said that after containment of spread of the novel Coronavirus, the financial sector will have to return to its normal operations on their own and without regulatory relaxations.Addressing an online...

Currency notes of Rs 2,000 were not printed at all in financial year 2019-20, according to the Reserve Bank of India (RBI).The central bank's Annual Report for 2019-20 also showed that the supply of banknotes during the period was lower by 23.3 per cent than...

The Reserve Bank of India has called for setting up an independent regulator for targeted public investment to revive and crowd in private investment.In its Annual Report 2019-20, it said that targeted public investment funded by monetisation of assets in...

To achieve the vision of creating a financially aware and empowered India, the Reserve Bank on Thursday released the 'Second National Strategy for Financial Education (NSFE) for the period 2020-2025.The NSFE 2020-25 intends to support the Centre and financial...

The Reserve Bank of India (RBI) on Friday announced the constitution of an expert committee led by KV Kamath to make recommendations on a special window for Covid-related  stressed assets under the bank's 'Prudential Framework on Resolution of Stressed...

The Reserve Bank of India (RBI) on Thursday came up with a fresh set of risk capital charges for banks investing in debt instruments such as mutual funds or exchange-traded funds (ETF).RBI Governor Shaktikanta Das said that computation of total capital charge...

As the economy reels under the pandemic and post lockdown woes, Reserve Bank of India (RBI) Governor Shaktikanta Das is of the view that extreme risk aversion by financial institutions will have adverse outcomes for all.Noting that India's financial system...

The Reserve Bank of India (RBI) on Thursday came up with a Fair Practices Code for asset reconstruction companies (ARC) wherein the central bank has asked the ARCs to deal with prospective buyers in spirit with the Section 29A of the Insolvency and Bankruptcy...

Financial Inclusion and Development Department of RBI, Jammu organized a meeting in Samba District to create awareness among MSME entrepreneurs about banking facilities, various government schemes available to MSME entrepreneurs and to sensitize them on the various...

FIDD, Chandigarh organized a Town Hall meeting for MSME Entrepreneurs on August 23, 2019 in Amritsar, Punjab. The meeting was chaired by Shri Anil K. Sharma, Executive Director, RBI.Smt. RachnaDikshit, Regional Director (Punjab, Haryana & UT Chandigarh),...

The panel set up to review the Reserve Bank of India's economic capital framework estimated the transferable surplus, or the amount the central bank could potentially pass on to the government, at close to Rs 8,000 crore, financial news portal BloombergQuint...

RBI Governor Shaktikanta Das recently cautioned against "cherry-picking" of data, subtly arguing against the former Chief Economic Adviser's paper, but neither was Arvind Subramanian's paper the only one on GDP over-estimation nor his methodology.A recent...

Assuring the crisis-hit NBFC sector will be monitored, Reserve Bank of India Governor Shaktikanta Das on Monday said the central bank will not hesitate to take any required measure to maintain the financial stability of the economy.In a lecture at the Lal Bahadur...

After the demonetisation of Rs 500 and Rs 1000 notes in 2016 pushed digital payments, Aadhaar-enabled electronic know your customer (eKYC) resulted in an exponential growth of such payments in the country, according to a new report by the Reserve Bank of India.Transactions...

In a bid to lower finance cost, Union Minister Piyush Goyal on Friday said the Reserve Bank of India has been asked to study the possibility of providing $25 billion line of credit for exporters.In addition, the Union Minister of Commerce and Industry and...

Despite a large growth in digital payments after demonetisation of Rs 500 and Rs 1,000 notes in 2016, cash is "deeply embedded" in the payment system in India, according to a new report from the Reserve Bank of India.At 11.59 per cent of Gross Domestic Product...

Getting a leg-up from the demonetisation of Rs 500 and Rs 1,000 currency notes in November 2016, the share of e-Money in India's payment systems grew to 21.5 per cent in 2017 from 0.8 per cent in 2012, according to a new report prepared by the Reserve Bank of...

 Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) went for a hat-trick of rate cut on Thursday by lowering key lending  rate for commercial banks by 25 basis points (bps) to 5.75 per cent, the lowest in the past nine years.This...

 Grappling with weak demand, real estate companies welcomed another rate cut of 0.25 per cent by RBI, but linked revival of the sector with banks  passing on the benefits to consumers.While reduction in key lending rate is aimed at lowering EMIs for consumers...

Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks by 25 basis points (bps) to 5.75 per cent.Besides, the RBI changed the monetary policy stance from neutral to accommodative....

Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks by 25 basis points (bps) to 5.75 per cent.Besides, the RBI changed the monetary policy stance from neutral to accommodative.Accordingly,...

A rate cut, which is almost certain in the second bi-monthly monetary policy statement for 2019-20, is unlikely to stimulate demand in the near term due to the absence of quick resonance in the financial market, India Ratings and Research said on Wednesday.Despite...

With the elections resulting in a decisive mandate, the attention will now shift to policy -- both fiscal and monetary -- with the key aim of spurring growth, boosting the slowing consumption and attracting private investment.From a monetary policy perspective,...

The Finance Ministry may ask the Reserve Bank of India (RBI) to put strong regulatory framework around NBFCs accessing non-bank public deposits, like pension and provident fund, as these are savings of the salaried class and must be kept away from avoidable...

The necessity of setting up 'State Finance Commissions' was discussed in a meeting between RBI Governor Shaktikanta Das and Finance Commission Chairman N.K. Singh.The 15th Finance Commission headed by Chairman Singh on Wednesday held a detailed meeting with...

Muted growth and subdued inflation prompted the RBI on Thursday to lower its key lending rate for commercial banks by 25 basis points (bps) to 6 per cent, even as industry expressed the hope that the second consecutive rate cut would translate into lower lending...

Key Indian equity indices fell on Thursday as the Reserve Bank of India (RBI) lowered the country's growth projection for 2019-20 to 7.2 per cent.Accordingly, the equity market had a flat start in line with sluggish global cues only to slide during the mid...

Declaring that he will uphold the "autonomy, integrity and credibility" of the RBI, newly-appointed Governor Shaktikanta Das said on Wednesday that the government is responsible for running the country and the central bank is also accountable.Briefing reporters...

The government on Tuesday appointed Shaktikanta Das, who as Economic Affairs Secretary steered the monetary situation post-demonetisation, as the new RBI Governor, a day after Urjit Patel resigned amidst a tiff with the government on the RBI's autonomy."The...

Further easing the External Commercial Borrowing (ECB) norms, the Reserve Bank of India (RBI) on Monday reduced the mandatory hedging provision to 70 per cent from 100 per cent."On a further review of the extant provisions, it has been decided, in consultation...

The Reserve Bank of India (RBI) would inject Rs 12,000 crore into the market by purchasing government securities on November 15, 2018.The decision comes amid concerns of a liquidity crisis in the economy after the financial services company IL&FS reported...

Former RBI Governor Raghuram Rajan described the apex bank as a "seat belt" for the Central government which is in the driver's seat, protecting the government against any "accident".Speaking to business news channel CNBC-TV18, Rajan said that historically...

Media reports have portrayed the differences between the government and the Reserve Bank of India (RBI) as a face-off, or worse still, as attempts by the government to undermine the independence of the central bank.Framing the debate in terms of adversarial...

The sharply depreciating rupee amidst rising global oil prices and the massive foreign funds outflow from the capital market are not crises comparable to the likes of the balance of payments (BoP) emergency India experienced in 1991 because the country's...

The Reserve Bank of India (RBI) on Tuesday said there was no liquidity crisis in the non-banking financial companies, assuaging the government's concerns that a cash crunch in the shadow banking space could have a ripple effect through the wider economy.The...

The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 crore on Karur Vysya Bank for non-compliance of its directives.According to a RBI statement on Friday, the penalty was imposed for non-compliance with its directions on "Income Recognition and...

RBI Governor Urjit Patel on Thursday said that preventive vigilance is the most effective governance mechanism at public sector institutions as opposed to punitive and detective vigilance.Delivering a lecture at the Central Vigilance Commission (CVC), he...

Former RBI Governor Raghuram Rajan has said that a big number of non-performing assetes (NPAs) originated in 2006-08 when India's economic growth was strong while some banks proved inadequate in making proper due diligence.Rajan was replying to a Parliamentary...

The detection of counterfeit notes in the Rs 50 and Rs 100 denomination witnessed a record high in 2017-18 compared with two preceding fiscals, the RBI announced on Wednesday.According to the Reserve Bank of India's (RBI) annual report for 2017-18, the number...

The government may need to amend the Reserve Bank of India Act of 1934 and also bring a special law vis-a-vis setting up of the Public Credit Registry (PCR) to revolutionise the credit sector, an RBI official said on Monday.RBI Deputy Governor Viral V. Acharya...

Caution ahead of the RBI's monetary policy review, along with negative macro-economic data point, depressed the key Indian equity indices on Tuesday.According to market observers, heavy selling pressure was witnessed in the capital goods, consumer durables and...

Regional office of Reserve Bank of India has inaugurated Financial Literacy Week-2018 under the theme “Customer Protection”.Regional Director RBI, Thomas Mathew, General Manager RBI Ashok Kumar Mattu, Chairman & CEO J&K Bank Parvez Ahmad, DGM NABARD Geeta...

The Reserve Bank of India is all set to observe Financial Literacy Week 2018 from June 4 to 8, 2018 with "Consumer Protection" as the theme.As per RBI spokesperson, with the  aim of furthering financial literacy and thereby creating awareness on key...

Defending the Reserve Bank of India's (RBI) norms on resolution of banks' non-performing assets (NPAs), or bad loans, announced in February, RBI Deputy Governor N.S. Vishwanathan on Wednesday said these are outcome-oriented and provide banks the flexibility on...

The Reserve Bank of India (RBI) on Tuesday cleared a sum of Rs.18124.85 Crore towards Cash Credit Limit (CCL) for Punjab for the purchase of wheat in the ongoing rabi marketing season.With this, the bulk of the total CCL of Rs. 21179.60 Crore sought by the...

The CBI on Friday questioned the Reserve Bank of India's (RBI) former Deputy Governor Harun Rashid Khan in connection with Rs 13,500 crore Punjab National Bank (PNB) fraud involving diamantaire Nirav Modi and his uncle Mehul Choksi, an official said.Informed...

The RBI on Thursday maintained the status quo on its key short-term lending rate at 6 per cent, along with its 'neutral' stance, at the first bi-monthly monetary policy review of the new fiscal, even as both government and India Inc described the move "as...