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Demonetisation: Rs 15.28 lakh cr of banned Rs 15.44 lakh cr returned to system, says RBI

Mumbai, Aug 30 (IANS) Revealing the low efficacy of last November’s demonetisation of high-value currency, the RBI said on Wednesday that of the Rs 15.44 lakh crore of notes taken out of circulation, Rs 15.28 lakh crore had returned to the system...
Rs 200 notes to be issued on Friday: RBI

Rs 200 notes to be issued on Friday: RBI

Mumbai, Aug 24  The new Rs 200 notes will be in circulation from Friday, the Reserve Bank of India (RBI) announced on Thursday. The Rs 200 denomination banknote in the Mahatma Gandhi (New) series will bear the signature of RBI Governor Urjit R. Patel...

Inflation to be below RBI’s 4% target by March 2018: Economic Survey

New Delhi, Aug 11 India faces the risk of deflationary impulses owing to stressed agricultural revenues, bad loans, farm loan waivers and the fiscal tightening they would entail, that could push inflation below the Reserve Bank of India’s (RBI)...
RBI to transfer Rs 30,659 crore surplus to government

RBI to transfer Rs 30,659 crore surplus to government

Mumbai, Aug 11  The Reserve Bank of India on Thursday said it will transfer Rs 30,659 crore surplus to the government for the year ended June 30, 2017. The Central Bank which follows the July-June year had transferred Rs 65,876 crore to the government’s...
RBI asks banks to periodically test cyber attack vulnerability

RBI asks banks to periodically test cyber attack vulnerability

New Delhi, Aug 9 The Reserve Bank of India (RBI) has asked commercial banks to periodically conduct vulnerability test to test their cyber security preparedness, the government informed Parliament on Tuesday. “The RBI had issued advisories to banks...

RBI cuts key lending rates by 25 basis points

Mumbai, Aug 2 The Reserve Bank on Wednesday slashed benchmark lending rate by 0.25 per cent to 6 per cent citing reduction in upside risk to inflation, a move that will lower EMIs for home, auto and personal loans. This is the first rate cut since October...
RBI expected to cut key interest rate on Wednesday

RBI expected to cut key interest rate on Wednesday

Mumbai, Aug 1  With latest macro-economic data showing inflation at a record low and fall in factory output, the Reserve Bank of India (RBI) is expected to reduce its repo, or short term lending rate, at its monetary policy review on Wednesday. At its...
RBI imposes Rs 3 cr penalty on Union Bank for KYC non-compliance

RBI imposes Rs 3 cr penalty on Union Bank for KYC non-compliance

Mumbai, Aug 01  The Reserve Bank of India (RBI) on Monday said it has imposed a penalty of Rs 3 crore on the Union Bank of India for non-compliance of Know Your Customer (KYC) norms. RBI imposed the penalty of Rs 2 crore and Rs 1 crore on July 26 under...

RBI needs to cut interest rate by 25 basis points: Assocham

New Delhi, July 31  Ahead of the Reserve Bank of India’s (RBI) forthcoming monetary policy review next week, industry chamber Assocham has on Sunday urged the apex bank to cut interest rates in view of latest data that shows inflation at a five-year...

RBI removes restrictions on foreign investment in IDFC

Mumbai, June 22  The Reserve Bank of India (RBI) on Wednesday removed restrictions on foreign investments in IDFC. “The foreign shareholding by Foreign Institutional Investors (FIIs), Foreign Portfolios Investors (FPIs) in M/s IDFC Limited have...

DCCBs allowed to deposit demonetised notes with RBI

New Delhi, June 21  The government on Tuesday allowed the RBI to accept demonetised notes collected by District Central Cooperative Banks (DCCBs) immediately after the note ban, a long-time demand of the BJP’s ally Shiv Sena. The gazette notification...

RBI’s move on NPA resolution credit-positive for banks: Moody’s

Mumbai, June 19  Global credit rating agency Moody’s Investors Service on Monday dubbed as ‘credit-positive’ for Indian banks the RBI plans to resolve 12 large bank loan accounts accounting for 25 per cent of the banking system’s...

Current account deficit narrows in 2016-17: RBI

Mumbai, June 16 India’s current account deficit (CAD) narrowed during the last fiscal due to a contraction in the country’s trade deficit, the country’s central bank said on Thursday. According to data furnished by the Reserve Bank of...

Ordinance on bad loans gets Presidential nod

New Delhi, May 5  An ordinance empowering the Reserve Bank of India (RBI) to tackle bad loans of banks got the Presidential nod on Friday. President Pranab Mukherjee signed the ordinance that will amend the Banking Regulation Act to tackle the burgeoning...

Banks need to raise private capital to deal with bad loans: RBI

Mumbai, April 29  The mounting problem of bad loans of banks cannot be resolved by their simple recapitalisation and options like raising private capital for state-run banks need to be considered to deal with the issue, the RBI said on Friday. “I...
RBI to issue new Rs 5 and Rs 10 coins

RBI to issue new Rs 5 and Rs 10 coins

Mumbai, April 27  The Reserve Bank of India (RBI) on Wednesday said that it will soon issue new Rs 10 and Rs 5 coins in circulation. According to the RBI, the central government has minted new Rs 5 coins to commemorate the “150th Anniversary of...
RBI maintains key lending rate at 6.25%

RBI maintains key lending rate at 6.25%

Mumbai, April 6  The Reserve Bank of India (RBI), in its first bi-monthly monetary policy review of 2017-18, on Thursday kept its key lending rate unchanged at 6.25 per cent, saying it awaited further macroeconomic data before making changes.However,...
RBI expected to keep rates unchanged on Thursday

RBI expected to keep rates unchanged on Thursday

Mumbai, April 4  The Reserve Bank of India (RBI) is expected to maintain its key lending rates at its first bi-monthly monetary policy review of this fiscal due on Thursday. At its last policy review of the previous fiscal in February, the RBI had kept...
Bad Bank: TACKLE NPAs JUDIOUSLY …

Bad Bank: TACKLE NPAs JUDIOUSLY …

Bad Bank TACKLE NPAs JUDIOUSLY By Dhurjati Mukherjee  The top brass of the Reserve Bank of India (RBI) met recently regarding setting up a bad bank, an idea most recently highlighted by Chief Economic Adviser Arvind Subramanian. This would help handle...

Exchange of Rs 4,500 in old notes allowed in Nepal: RBI

Kathmandu, March 27  The Reserve Bank of India (RBI) will allow exchange of up to Rs 4,500 in banned Indian currency notes to each Nepali national, a visiting team of the Indian central bank here hinted on Sunday.The Indian proposal has sent waves of...