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...

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...

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...

Breaking his silence over the Rs 13,540 crore fraud at state-run Punjab National Bank (PNB), the Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday said the central bank, as the guard of people's deposits at banks, will do its best to break the "unholy...

The Reserve Bank of India (RBI) on Friday denied having sent any instruction to Punjab National Bank (PNB), which detected a $1.8 billion fraud, to meet its commitments under the Letter of Undertaking (LOU) to other banks."There have been reports in the...

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...

The Reserve Bank of India (RBI) kept its key interest rate unchanged at 6 per cent for the third time in succession at its final bi-monthly monetary policy review of the fiscal, citing upside risks for inflation from rising global crude oil prices and various...

Former RBI Governor Raghuram Rajan feels a substantial part of the growth slowdown in India was because of the after effects of the demonetisation decision of November, 2016."I think the jury is still out. We have an argument that it will improve compliance...

Reserve Bank of India's (RBI) Deputy Governor Viral Acharya has suggested that banks, asset reconstruction companies and credit rating agencies can come together to set-up an online platform for sale of NPAs (non-performing assets) in India.According to Acharya,...

A census conducted by the Reserve Bank of India (RBI) on Friday showed that Mauritius was the largest source of FDI in India, followed by the US and the UK in 2016-17.The revelation was made in RBI's data on "Census on Foreign Liabilities and Assets of...

The country will shortly have new Rs 10 denomination notes in circulation, the Reserve Bank of India (RBI) announced on Friday.The new Rs 10 note in the Mahatma Gandhi series is designed in the base colour of chocolate brown and has the motif of the Konark...

The Reserve Bank of India (RBI) on Friday dismissed, as rumours, reports circulating in the media on the closure of certain public sector banks (PSBs) in the wake of their recently being placed under central bank's Prompt Corrective Action (PCA) framework.The...

The Reserve Bank of India (RBI) has initiated "prompt corrective action" (PCA) measures against state-run lender Bank of India in the view of its high non-performing assets (NPAs).According to a BSE filing, the RBI placed the lender under PCA on Tuesday,...

The Reserve Bank of India (RBI) has imposed a penalty of Rs 3 crore on IndusInd Bank for non-compliance with its directions on "Income Recognition and Asset Classification" (IRAC) norms and contravention of regulatory restrictions pertaining to non-fund...

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...

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...

Reacting cautiously, the government on Wednesday said it has taken note of the RBI maintaining status quo on key lending rates and said a neutral policy stance reflected recognition of the fact that inflation remained "firmly under control"."The Monetary Policy...

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...

 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...

 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...

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...

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...