New Delhi, Aug 16 The Finance Ministry is likely to receive the first tranche of the RBI’s surplus money towards December after its central board discusses and approves the report finalised by the Bimal Jalan panel. The six-member panel led
Mumbai, Aug 6 The Reserve Bank of India imposed monetary penalty on eleven banks for non-compliance with provisions of “Frauds classification and reporting by commercial banks and select FIs”. Individually, the penalty on 11 banks ranges from Rs 1.5 crore
New Delhi, Aug 2 Swadeshi Jagran Manch, the economic wing of the Rashtriya Swayamsevak Sangh has hit out at the Reserve Bank of India for not lowering rate of interest even when the inflation is down to 2 per cent,
Chennai, July 30 The central government, after consultations with the Reserve Bank of India, has increased the authorised capital of Indian Overseas Bank (IOB) from Rs 10,000 crore to Rs 15,000 crore through a gazette notification. In a statement issued
Mumbai, July 13 India’s foreign exchange reserves increased by $2.232 billion during the week ended July 5, official data showed on Friday. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves rose to $429.911 billion
New Delhi, July 10 The country’s largest bank, the State Bank of India, has been found flouting several rules in its attempt to cover up non-performing assets (NPAs), according to the RBI’s annual inspection report. The Reserve Bank of India’s
New Delhi, July 8 Finance Minister Nirmala Sitharaman will brief the RBI’s central board on Monday on Budget measures and sources said the upcoming sovereign bonds, NBFC issues and RBI dividend will figure in the discussion at the Central Board
Mumbai, June 29 India’s external debt for the quarter-ended March 2019 rose 2.6 per cent or $13.7 billion to $543 billion on account of an increase in short-term debt, commercial borrowings and non-resident Indian (NRI) deposits. According to the Reserve
Mumbai, June 20 At the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting earlier this month, RBI Governor Shaktikanta Das had pointed to clear evidence of economic activity losing traction while presenting the rationale for a rate cut,
New Delhi, June 18 Fitch Ratings on Monday saw India’s growth for FY 2019-20 at 6.6 per cent and 7.1 per cent in 2021-22. Fitch was optimistic on India’s growth, saying that the monetary and regulatory easing from the Reserve
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
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
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
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
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
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
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
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
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,
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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