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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...

21-Jan-2018 Mumbai

Set-up online platform for NPA sales: RBI's Acharya

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,...

19-Jan-2018 Mumbai

Mauritius largest FDI source in 2016-17: RBI

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...

05-Jan-2018 Mumbai

RBI to issue new Rs 10 notes with Konark Sun Temple motif

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...

22-Dec-2017 Mumbai

RBI denies any state-run banks to be closed down

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...

20-Dec-2017 Mumbai

RBI places Bank of India under PCA framework

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,...

13-Dec-2017 New Delhi

RBI imposes Rs 3 cr penalty on IndusInd Bank

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...

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...

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