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Maximum balance for payments bank customers raised to Rs 2 lakh

Maximum balance for payments bank customers raised to Rs 2 lakh

🕔06:51, 9.Apr 2021

Mumbai, April 9  The Reserve Bank of India (RBI) has enhanced the maximum balance at the end of the day for payments banks to Rs 2 lakh per customer with immediate effect. The development comes a day after RBI Governor

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RBI move boosts markets, banking stocks rise

RBI move boosts markets, banking stocks rise

🕔04:44, 8.Apr 2021

Mumbai, April 8 India’s benchmark equity indices rose on Wednesday as the Reserve Bank decided to retain its key short-term lending rates along with the growth-oriented accommodative stance. Healthy buying was seen in banking, auto and technology names post the

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RBI asks banks to put in place policy to refund ‘interest on interest’

RBI asks banks to put in place policy to refund ‘interest on interest’

🕔04:43, 8.Apr 2021

Mumbai, April 8  The Reserve Bank of India (RBI) has directed all banks and NBFCs to immediately put in place a board-approved policy to refund or adjust the ‘interest on interest’ charged to borrowers during the moratorium period of March

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Banks allowed priority sector lending to NBFCs for another 6 months

Banks allowed priority sector lending to NBFCs for another 6 months

🕔17:27, 7.Apr 2021

Mumbai, April 7  With a view to ensure continued availability of credit to agriculture, MSME and housing sectors and aid faster economic recovery, the RBI has extended the priority sector lending (PSL) classification for lending by banks to NBFCs for

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RBI allows farmers enhanced loan on produce pledges

RBI allows farmers enhanced loan on produce pledges

🕔17:25, 7.Apr 2021

Mumbai, April 7  With a view to encourage farm credit, the RBI on Wednesday decided to enhance the loan limit for individual farmers. Individual farmers will now be eligible for an enhanced loan amount of Rs 75 lakh from banks

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RBI to publish Financial Inclusion Index

RBI to publish Financial Inclusion Index

🕔17:24, 7.Apr 2021

Mumbai, April 7  To measure the extent of financial inclusion in the country, the Reserve Bank of India will construct and periodically publish a “Financial Inclusion Index” (FI Index). The FI Index would be based on multiple parameters and shall

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Payments Banks allowed to hold Rs 2L balance per customer

Payments Banks allowed to hold Rs 2L balance per customer

🕔17:21, 7.Apr 2021

Mumbai, April 7  In a major boost to operations of the Payments Banks, the Reserve Bank of India on Wednesday doubled the limit of maximum balance that an individual customer can hold with them. Accordingly, Payments Banks can now hold

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RBI puts in quantitative easing plan to stabilise bond yield curve

RBI puts in quantitative easing plan to stabilise bond yield curve

🕔17:18, 7.Apr 2021

Mumbai, April 7  In order to ensure stable and orderly evolution of the yield curve amidst comfortable liquidity conditions, the Reserve Bank of India on Wednesday decided to put in place a quantitative easing program, pledging to buy up to

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RBI to constitute committee for review of ARC working

RBI to constitute committee for review of ARC working

🕔17:14, 7.Apr 2021

Mumbai, April 7  The Reserve Bank of India (RBI) has proposed to constitute a Committee to undertake a comprehensive review of the working of Asset Reconstruction Companies (ARCs) in the financial sector ecosystem. The committee would recommend suitable measures for

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RBI decides to open up RTGS, NEFT for payment system operators

RBI decides to open up RTGS, NEFT for payment system operators

🕔17:12, 7.Apr 2021

Mumbai, April 7  In a major move in the online payments segments, the Reserve Bank of India (RBI) has decided to allow payment system operators to take direct membership of Centralised Payment Systems (CPS), such as RTGS and NEFT. Membership

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Inflation focused RBI now moves to absorb excess liquidity

Inflation focused RBI now moves to absorb excess liquidity

🕔17:08, 7.Apr 2021

Mumbai, April 7  With an eye on inflation and surplus liquidity in the system, the RBI on Wednesday decided to conduct variable rate reverse repo (VRRR) auctions of longer maturity. The apex bank had recommenced VRRR auctions since January 15,

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RBI announces Rs 50,000 cr for NABARD, NHB, SIDBI

RBI announces Rs 50,000 cr for NABARD, NHB, SIDBI

🕔16:59, 7.Apr 2021

Mumbai, April 7  In a liquidity boost to all-India financial institutions such as NABARD and National Housing Bank (NHB), the Reserve Bank of India (RBI) has announced a liquidity support of Rs 50,000 crore to such institutions for fresh lending

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RBI Guv calls for coordinated action to give tax relief on petroleum products

RBI Guv calls for coordinated action to give tax relief on petroleum products

🕔12:04, 7.Apr 2021

Mumbai, April 7 (IANS) Reserve Bank of India Governor Shaktikanta Das on Wednesday put onus on both Centre and the States to ensure that through coordinated policy measures the cost build up in the petroleum products does not escalate further. While

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States to borrow Rs 1.78 lakh cr in April-June

States to borrow Rs 1.78 lakh cr in April-June

🕔06:50, 7.Apr 2021

Mumbai, April 7  States and Union Territories are likely to borrow Rs 1.78 lakh crore in the April-June quarter 2021. In a statement on Tuesday, the RBI said: “The Reserve Bank of India, in consultation with the state governments/Union Territories

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NBFC-MFIs to charge 7.81% average base rate in April-June

NBFC-MFIs to charge 7.81% average base rate in April-June

🕔15:14, 31.Mar 2021

Mumbai, March 31  The Reserve Bank of India (RBI) on Wednesday said that Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) will charge an applicable average base rate of 7.81 per cent from their borrowers during the April-June quarter. The

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Banks to conduct special clearing of govt cheques on Mar 31

Banks to conduct special clearing of govt cheques on Mar 31

🕔06:41, 29.Mar 2021

Mumbai, March 29  The Reserve Bank of India (RBI) has said that banks will conduct special clearing operations exclusively for government cheques on March 31 to facilitate accounting of all the government transactions for the current financial year. In a

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India’s forex reserve rises by over $1.7 bn

India’s forex reserve rises by over $1.7 bn

🕔11:42, 20.Mar 2021

Mumbai, March 20  India’s foreign exchange reserves rose by $1.739 billion during the week ended March 12. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $582.037 billion from $580.299 billion reported for the

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RBI to conduct OMOs worth Rs 10K cr on March 25

RBI to conduct OMOs worth Rs 10K cr on March 25

🕔07:02, 19.Mar 2021

Mumbai, March 19  To pump up liquidity, the Reserve Bank of India will conduct a one-day ‘Open Market Operations’ on March 25 to simultaneous purchase and sell government securities. The OMO session will see simultaneous purchase and sale of government

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RBI takes out IDBI Bank from PCA framework

RBI takes out IDBI Bank from PCA framework

🕔07:41, 11.Mar 2021

Mumbai, March 11  The Reserve Bank of India (RBI) has taken out IDBI Bank from Prompt Corrective Action (PCA) framework. In a statement on Wednesday, the central bank said that the performance of IDBI Bank was reviewed by the Board

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India’s foreign exchange reserves slip by $249 mn

India’s foreign exchange reserves slip by $249 mn

🕔21:29, 19.Feb 2021

Mumbai, Feb 19  India’s foreign exchange reserves declined by $249 million during the week ended February 12. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $583.697 billion from $583.945 billion reported for the

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