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Demonetisation, Aadhaar spurred digital payments growth : RBI

Demonetisation, Aadhaar spurred digital payments growth : RBI

🕔14:41, 9.Jun 2019

New Delhi, June 8 (IANS) 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

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RBI slaps Rs 2 cr penalty on Kotak Mahindra Bank

RBI slaps Rs 2 cr penalty on Kotak Mahindra Bank

🕔07:33, 8.Jun 2019

Mumbai, June 8  The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 2 crore on Kotak Mahindra Bank for not complying with the central bank’s directions to furnish details of its promoter shareholding. The bank was

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Cash deeply embedded in payment systems in India: RBI

Cash deeply embedded in payment systems in India: RBI

🕔07:05, 8.Jun 2019

New Delhi, June 8  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

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RBI issues new circular on resolution of stressed assets

RBI issues new circular on resolution of stressed assets

🕔22:53, 7.Jun 2019

Mumbai, June 7 (IANS) The Reserve Bank of India on Friday issued a revised framework for resolution of stressed assets allowing lenders to start resolution process within 30 days of default. The circular comes after the Supreme Court in April struck

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

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

🕔13:06, 6.Jun 2019

Mumbai, June 6  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 as it lowered its key lending rate for commercial banks by 25

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RBI to remove transaction charges on RTGS, NEFT

RBI to remove transaction charges on RTGS, NEFT

🕔09:09, 6.Jun 2019

Mumbai, June 6 (IANS) In a bid to boost digital fund transfer systems, the Reserve Bank on Thursday said that it will remove charges levied on transactions conducted through Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT). The

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RBI to go for another rate cut to spur growth

RBI to go for another rate cut to spur growth

🕔14:55, 5.Jun 2019

New Delhi/Mumbai, June 5  A booster dose in the form of further rate cut is expected from the Reserve Bank to rekindle economic growth which has been stunted by low demand, receding production and stagnant wages. Economy watchers contend that

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RBI sets up panel to develop secondary market for corporate loans

RBI sets up panel to develop secondary market for corporate loans

🕔10:00, 30.May 2019

Mumbai, May 30 The Reserve Bank of India on Wednesday constituted a task force on development of secondary market for corporate loans. The six-member task force will have T. N. Manoharan, Chairman of Canara Bank, as its chairperson and will submit

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RBI to extend RTGS deadline to 6 p.m. from June 1

RBI to extend RTGS deadline to 6 p.m. from June 1

🕔08:29, 29.May 2019

Mumbai, May 29  The Reserve Bank of India has decided to extend the usage timings for ‘Real Time Gross Settlement’ (RTGS) system from June 1. A notification to this effect was issued on Tuesday. RTGS is a financial transaction system,

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RBI to inject durable liquidity worth Rs 15,000 cr

RBI to inject durable liquidity worth Rs 15,000 cr

🕔07:01, 25.May 2019

Mumbai, May 25  To ease liquidity concerns, the Reserve Bank of India (RBI) on Friday said that it will inject Rs 15,000 crore through open market operations (OMOs) on June 13. Open market operations (OMOs) are conducted by the RBI

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RBI’s booster dose expected; target 150-200 bps cut in FY20

RBI’s booster dose expected; target 150-200 bps cut in FY20

🕔06:56, 25.May 2019

New Delhi/Mumbai, May 25  Further monetary policy easing is expected as the economy struggles with a demand downturn, liquidity constraint and a high finance cost, sources said on Friday. It is learnt that Reserve Bank of India would stick with

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RBI may toughen NBFCs’ access to public deposits

RBI may toughen NBFCs’ access to public deposits

🕔19:15, 22.May 2019

New Delhi, May 22  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

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Need to set up state finance panels discussed: RBI

Need to set up state finance panels discussed: RBI

🕔19:43, 8.May 2019

Mumbai, May 8  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

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RBI’s surplus tranfer to Centre to be discussed

RBI’s surplus tranfer to Centre to be discussed

🕔06:48, 7.May 2019

New Delhi, May 7  The 15th Finance Commission will meet the RBI Governor, banks and financial institutions in a two-day meet in Mumbai, from Wednesday to discuss the transfer of central bank’s surplus capital to the government, among other issues.

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Ombudsman scheme extended to non deposit-taking NBFCs

Ombudsman scheme extended to non deposit-taking NBFCs

🕔07:25, 27.Apr 2019

New Delhi, April 27  The Reserve Bank of India (RBI) on Friday extended the “ombudsman scheme” for non-banking financial companies (NBFCs) to non deposit-taking NBFCs with asset size of at least Rs 100 crore. The decision comes after the central

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Be more transparent: SC raps RBI in final warning

Be more transparent: SC raps RBI in final warning

🕔11:35, 26.Apr 2019

New Delhi, April 26  The Supreme Court on Friday gave the RBI “one last opportunity” to disclose annual inspection reports of banks as it just stopped short of issuing a contempt notice against RBI Governor Shaktikanta Das, and ordered the

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RBI divests entire share in NABARD, NHB

RBI divests entire share in NABARD, NHB

🕔22:14, 24.Apr 2019

New Delhi, April 24 (IANS) The Reserve Bank of India (RBI) on Wednesday said that it has divested its entire stake in the National Bank For Agriculture and Rural Development and the National Housing Bank amounting to Rs 20 crore and

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RBI to buy Rs 25,000 crore worth govt securities in May

RBI to buy Rs 25,000 crore worth govt securities in May

🕔20:47, 23.Apr 2019

Mumbai, April 23 (IANS) Further addressing the liquidity concerns in the country, the Reserve Bank of India on Tuesday said it will buy government securities worth Rs 25,000 crore next month through two auctions of Rs 12,500 crore each. Open market

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RBI issues Rs 50 notes bearing Governor Das’ signature

RBI issues Rs 50 notes bearing Governor Das’ signature

🕔06:52, 17.Apr 2019

Mumbai, April 17  The Reserve Bank of India (RBI) on Tuesday issued Rs 50 denomination banknotes bearing the signature of Governor Shaktikanta Das. “The design of these notes is similar in all respects to Rs 50 banknotes in Mahatma Gandhi

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RBI’s revised debt resolution rules likely post-election

RBI’s revised debt resolution rules likely post-election

🕔09:56, 15.Apr 2019

New Delhi, April 15  The RBI’s revised stress assets resolution circular is likely to be out after the elections to clear the model code of conduct, and also the regulator may need time to have consultations with legal experts, industry

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