Mumbai/Chennai, Oct 10 The Reserve Bank of India on Wednesday rejected the merger of Lakshmi Vilas Bank and India Bulls Housing Finance Ltd, months after the bank had sought its approval on May 7. “The RBI vide their letter dated
Mumbai, Oct 4 To reverse the consumption slowdown and shore-up growth, the Reserve Bank of India on Friday reduced key lending rates for the fifth consecutive time. Accordingly, the the RBI’s monetary policy committee (MPC) in its fourth policy review
Mumbai, Sep 27 Providing relief to the customers, the Reserve Bank of India (RBI) on Thursday hiked the withdrawal limit from Rs 1,000 to Rs 10,000 per bank account in the sanction-hit Punjab and Maharashtra Cooperative (PMC) Bank. The RBI
Mumbai, Sep 24 The Reserve Bank of India (RBI) has barred the Punjab & Maharashtra Cooperative Bank Ltd (PMC), Mumbai from carrying out the majority of its routine business transactions for a period of six months, sparking panic among the
Mumbai, Sep 23 State Bank of India, the countrys largest lender, has decided to adopt RBIs repo rate as the external benchmark for all floating rate loans for MSME, home and retail loans from October 1. The benchmarks to which
Mumbai, Sep 20 The Reserve Bank of India has revised the norms of concurrent audit of banks whereby the apex bank has capped the term for concurrent auditors at three years. Concurrent audit aims at shortening the interval between a
Mumbai, Sep 17 The Reserve Bank of India on Monday expanded the Bharat Bill Payment System coverage to included all categories of billers, except prepaid recharges. The move will aid in greater digitisation of cash-based bill payments. Till now, BBPS,
Mumbai, Sep 16 Indian private and public sector banks (PSBs) had aggregate savings deposits of Rs 39.72 lakh crore as on March 31, 2019, while foreign banks had a share of Rs 58,630 crore, according to RBI data published in
Mumbai, Sep 13 To ease liquidity and boost demand, the Reserve Bank of India on Thursday notified the reduction in risk weightage for consumer credit, excluding credit card receivables. The risk weight for consumer credit, including personal loans, but excluding
Mumbai, Sep 9 Country’s largest lender State Bank of India (SBI) on Monday announced a reduction in its marginal cost-based lending rate or MCLR by 10 basis points across all tenors and has also reduced rates on term deposits. It
Mumbai, Sep 7 (IANS) The Reserve Bank of India is currently working with other financial sector regulators like Sebi, PFRDA and Irda to develop an interest rate market where mutual funds, pension and insurance funds could participate in securities lending to
Mumbai, Aug 26 (IANS) The Central Board of the Reserve Bank of India on Monday decided to transfer a sum of Rs 1,76,051 crore to the Government of India comprising Rs 1,23,414 crore of surplus for the year 2018-19 and Rs
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
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