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Jaitley, RBI officials to discuss banks’ bad loans

Jaitley, RBI officials to discuss banks’ bad loans

New Delhi, March 10  Finance Minister Arun Jaitley will meet with senior Reserve Bank of India (RBI) officials here on Friday to discuss the issue of banks’ non-performing assets (NPAs) or bad loans, sources said.The magnitude of the problem can...
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RBI to issue new Rs 10 notes, old ones to remain valid

Mumbai, March 09  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...
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RBI expected to hold interest rates at Tuesday’s review

Mumbai, Feb 6  The Reserve Bank of India (RBI) is expected to hold key interest rates at its monetary policy review – its second after November’s note ban – in the wake of banks being flush with funds post-demonetisation and a firming...
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Mauritius top source of FDI in India

Mumbai, Jan 11  Mauritius provided the maximum inward foreign direct investment, accounting for 20.8 per cent of FDI in India, followed by the US, Britain, Singapore and Japan till the end of the last fiscal, the RBI said on Tuesday.Instead “the...
Send 40% currency to rural areas, RBI tells banks

Send 40% currency to rural areas, RBI tells banks

Mumbai, Jan 3  The RBI on Tuesday said the supply of currency notes in rural areas was not adequate and asked banks to send at least 40 per cent of the supply to their rural branches.“The bank notes, being supplied to rural areas, at present, are...
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RBI relaxes ATM daily withdrawal limit to Rs 4,500 from Rs 2,500

Mumbai, Dec 31  Following expiry of the deadline to deposit demonetised currency in banks, the RBI on Friday relaxed the daily ATM withdrawal limit to Rs 4,500 from the earlier cap of Rs 2,500, with this facility, to be effective from January 1, coming...
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RBI extends time before small loan accounts classified as NPA

Chennai, Dec 29  The Reserve Bank of India (RBI) on Wednesday further eased the prudential norms for classifying a loan account as non-performing asset (NPA) in respect of small borrowers.In its notification, the RBI said on reviewing its November 21...
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RBI withdraws one-time deposit norm, Rs 5,000 limit for KYC-accounts

New Delhi, Dec 21  The Reserve Bank of India (RBI) in a sharp U-turn on Wednesday withdrew the circular for KYC-compliant accounts that barred people from depositing over Rs 5,000 in old currency more than once till December 30.The central bank said...
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Deposits over Rs 5,000 can be made only once till Dec 30: RBI

New Delhi, Dec 19  The RBI announced on Monday that demonetised currency above Rs 5,000 can now be deposited in bank accounts only once — till December 30.People depositing the old Rs 500 and Rs 1,000 in excess of Rs 5,000 will be questioned in...
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RBI to provide Rs 70 cr daily to DCCBs for farmers in Odisha

Bhubaneswar, Dec 16  With the farmers facing hardship due to the demonetisation, the RBI has decided to provide around Rs 70 crore to the District Central Cooperative Banks (DCCBs) in Odisha on a daily basis to meet the requirement of farmers, said an...
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RBI expected to cut interest rate on Wednesday

Mumbai, Dec 6  Expectations are high of an interest rate cut by the RBI when it announces its bi-monthly monetary policy review on Wednesday, as banks are flush with funds following the November 8 demonetisation of high value currency.The Reserve Bank...
RBI’s stiff conditions for Rs 2.5 lakh withdrawal for weddings

RBI’s stiff conditions for Rs 2.5 lakh withdrawal for weddings

Mumbai, Nov 22  Following the cash crunch resulting from the recent demonetisation, the RBI on Monday imposed stiff conditions for withdrawal of up to Rs 2.5 lakh in cash from bank accounts for weddings, saying the money can be withdrawn only from the...
RBI to launch new Rs 500, Rs 2000 notes from November 10, banks to keep record of exchanges

RBI to launch new Rs 500, Rs 2000 notes from November 10, banks to keep record of exchanges

Expressing concern over the circulation of fake currency notes, Reserve Bank of India Governor Urjit Patel today said the apex bank will launch new Rs 500 and Rs 2,000 currency notes from November 10. “RBI will launch new currency notes from November...
Indian banks can issue masala bonds: RBI

Indian banks can issue masala bonds: RBI

Chennai, Nov 4  The Reserve Bank of India (RBI) on Thursday said Indian banks can issue masala bonds or rupee-denominated bonds issued overseas to augment their capital and long-term funds. In a statement, the RBI said issuance of such bonds will help...
GST rate will have short-lived impact on inflation: RBI

GST rate will have short-lived impact on inflation: RBI

Mumbai, Oct 5  Implementing the Goods and Services Tax (GST) could produce a short-lived pass-through impact on the inflation trajectory, the Reserve Bank of India (RBI) said on Tuesday.Announcing its first bi-monthly monetary policy review decided by...
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RBI announces measures for fixed income, currency markets

Mumbai, Aug 26  The Reserve Bank of India (RBI) here on Thursday announced measures for the development of fixed income and currency markets. The measures are intended to further market development, enhance participation, facilitate greater market liquidity...
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5-year term for RBI Governor should be good: Vinod Rai

New Delhi, Aug 12  Bank Board Bureau Chairman and former Comptroller and Auditor General Vinod Rai here on Thursday backed the suggestion of a fixed 5-year term for a Reserve Bank of India (RBI) Governor, adding that the current 3-year term was too short.“Three-year...
RBI launches ‘Sachet’ portal to check illegal money collection

RBI launches ‘Sachet’ portal to check illegal money collection

Mumbai, Aug 5  The Reserve Bank of India (RBI) on Thursday launched a portal to curb illegal collection of money by companies. This website will enable public to obtain information regarding entities who accept deposits, lodge complaints and also share...
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RBI slaps Rs 2 crore penalty on Allahabad Bank, Uco Bank each

Kolkata, July 27  City-based public lenders Allahabad Bank and Uco Bank on Monday said Reserve Bank of India has imposed penalties of Rs. 2 crore each on them for violation of the Banking Regulation Act.“The Reserve Bank of India in exercise of...
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Ficci hopes Reserve Bank will continue with reforms process

New Delhi, June 22  With the government further easing rules for foreign direct investment in India, industry chamber Ficci on Wednesday hoped the Reserve Bank of India will complement this move by lowering interest rates further to aid the flow of funds...
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