Updated on Nov 23, 2020 18:07:22

 

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12-Nov-2020 Mumbai

India enters into technical recession for first time: RBI Report

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...

13-Oct-2020 New Delhi

Banks free to provide funds to Amrapali projects, RBI tells SC

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...

09-Oct-2020 Mumbai

RBI retains lending rates but gives optimistic outlook

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,...

28-Sep-2020 Chennai

'Corporate vultures eying small banks, merge LVB with govt bank'

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...

16-Sep-2020 New Delhi

Covid-impacted economy may see gradual recovery : Shaktikanta Das

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...

27-Aug-2020 New Delhi

No regulatory easing post Covid containment : RBI Guv to banks, NBFCs

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...

25-Aug-2020 New Delhi

Rs 2,000 currency notes not printed in FY20 : Reserve Bank of India

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...

25-Aug-2020 Mumbai

Independent regulator needed for targeted public investment : RBI

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...

20-Aug-2020 Mumbai

RBI releases 'National Strategy for Financial Education: 2020-2025'

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...

07-Aug-2020 Mumbai

KV Kamath to head RBI panel, Diwakar, Manoharan, IBA CEO on board

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...

26-Jul-2020 New Delhi

Extreme risk aversion to have adverse outcomes: Shaktikanta Das

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...

16-Jul-2020 Mumbai

RBI asks ARCs to deal with buyers in line with Section 29A of IBC

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...

11-Feb-2020 Jammu

RBI organises meeting for MSME Entrepreneurs in Samba

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...

23-Aug-2019 Amritsar

Town Hall Meeting for MSME Entrepreneurs in Amritsar, Punjab

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),...

02-Jul-2019 New Delhi

RBI panel estimates transferable surplus at just Rs 8,000 cr: Report

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...

30-Jun-2019 New Delhi

Is 'cherry picking' of data is what it's all about?

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...

17-Jun-2019 New Delhi

RBI won't hesitate on steps for financial stability : Shaktikanta Das

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...

08-Jun-2019 New Delhi

Demonetisation, Aadhaar spurred digital payments growth: RBI

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...

07-Jun-2019 New Delhi

Cash deeply embedded in payment systems in India: RBI

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...

07-Jun-2019 New Delhi

e-Money share in India's payment systems reaches 21.5% : RBI

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...

06-Jun-2019 Mumbai

Rate cut hat-trick: RBI turns accommodative to boost growth

 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...

06-Jun-2019 Mumbai

RBI turns accommodative: Reduces lending rates to boost growth

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....

06-Jun-2019 Mumbai

RBI cuts key lending rate to boost growth

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,...

31-May-2019

Macro environment conducive for RBI to cut rates

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,...

22-May-2019 New Delhi

RBI may toughen NBFCs' access to public deposits

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...

08-May-2019 Mumbai

Need to set up state finance panels discussed: RBI

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...

04-Apr-2019 Mumbai

RBI cuts repo to 6%, industry urges more rate transmission

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...

04-Apr-2019 Mumbai

RBI's lower growth forecast dents equity market

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...

12-Dec-2018 Mumbai

RBI is accountable, government runs country : Shaktikanta Das

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...

11-Dec-2018 New Delhi

Shaktikanta Das appointed new RBI Governor

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...

26-Nov-2018 Mumbai

RBI cuts mandatory hedging to 70% for foreign loans

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...

13-Nov-2018 Mumbai

RBI to pump liquidity worth Rs 12,000 cr on Nov 15

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...

01-Nov-2018 New Delhi

India's current economic scenario not like 1991 crisis : Bimal Jalan

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...

30-Oct-2018 New Delhi

No liquidity crunch in NBFCs, inflation under control: RBI

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...

28-Sep-2018 Mumbai

RBI slaps Rs 5 crore penalty on Karur Vysya Bank

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...

20-Sep-2018 New Delhi

Preventive vigilance more effective than punitive one : RBI Governor

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...

11-Sep-2018 New Delhi

Most NPAs originated in 2006-08, banks to blame : Raghuram Rajan

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...

29-Aug-2018 Mumbai

Fake Rs 50, Rs 100 notes' detection record high in 2017-18: RBI

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...

20-Aug-2018 Mumbai

Change in RBI Act, new law may be needed for PCR : RBI

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...

05-Jun-2018 Mumbai

RBI's policy review, macro-data depress equity indices

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...

04-Jun-2018 Jammu

RBI launches Financial Literacy Week-2018

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...

31-May-2018 Jammu

RBI braces up for observing ‘financial Literacy Week’

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...

10-Apr-2018 Chandigarh

RBI Clears Rs. 18124.85 Crore Ccl For Punjab For Current Rabi Season

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...

06-Apr-2018 New Delhi

PNB fraud: CBI questions former RBI Deputy Governor

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...

05-Apr-2018 Mumbai

RBI holds repo rate at 6%, lowers 2018-19 inflation forecast

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...

05-Apr-2018 Mumbai

RBI bars regulated entities from dealing in cryptocurrencies

In a bid to protect consumers and curb evils like money laundering, the RBI on Thursday barred all regulated entities, including banks, from dealing in virtual currencies like bitcoins, following its earlier multiple warnings on their risks.Regulated entities...

03-Apr-2018 Mumbai

Jio Payments Bank Limited commences operations : RBI

Reserve Bank of India (RBI) on Tuesday said that Jio Payments Bank Limited has commenced operations with effect from April 3, 2018."The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business...

10-Feb-2018 New Delhi

RBI, SEBI need to take cognisance of market volatility : Urjit Patel

Reserve Bank of India (RBI) Governor Urjit Patel on Saturday said the apex bank and the market regulator Securities and Exchange Board of India (SEBI) need to be cognisant of the equity market volatility for risk assessement."In the last few days, there has...

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