Mumbai, June 29 To pump up liquidity in the financial system, the Reserve Bank of India will conduct special ‘Open Market Operations (OMO) on July 2. The special OMO session will see simultaneous purchase and sale of government securities for Rs
New Delhi, June 27 The Centre has brought urban and multi-state cooperative banks under the direct supervision of the Reserve Bank with President Ram Nath Kovind promulgating the Banking Regulation (Amendment) Ordinance, 2020. The government had issued ordinance to operationalise
Mumbai, June 26 Reserve Bank of India Governor Shaktikanta Das on Friday briefed the apex bank’s Central Board about the impact of various measures taken by it in the context of the Covid-19 pandemic. The briefing came as part of
Chennai, June 26 Union Finance Minister Nirmala Sitharaman on Thursday said the government is discussing with the Reserve Bank of India (RBI) for loan restructuring of companies which are stressed owing to the Covid-19 pandemic. Speaking at a webinar organised
New Delhi, June 24 The Centre has decided to bring urban and multi-state cooperative banks under the direct supervision of the Reserve Bank of India to protect depositors in these financial institutions. The Union Cabinet, in a meeting held on Wednesday,
Mumbai, June 20 The Reserve Bank of India (RBI) on Friday doubled the withdrawal limit for Punjab and Maharashtra Cooperative Bank’s depositors to Rs 100,000 from Rs 50,000 earlier. With this relaxation, the RBI said that more than 84 per
Mumbai, June 13 The Reserve Bank will from now on regulate non-bank payments aggregators. Besides, existing non-bank PAs will be required to submit application seeking for authorisation on or before June, 30, 2021. In its “Oversight Framework for Financial Market
New Delhi, June 12 The Supreme Court on Friday asked Solicitor General Tushar Mehta to convene a meeting of the Finance Ministry and RBI officials over the weekend to decide whether interest incurred on EMIs during the moratorium period can
Mumbai, June 12 The Reserve Bank of India has come up with a discussion paper on governance in commercial banks, whereby it has proposed to limit the term of a bank promoter to hold the position of a CEO or whole-time
Mumbai, June 5 The Reserve Bank on Friday announced the creation of a Payments Infrastructure Development Fund’ with an initial contribution of Rs 250 crore. Accordingly, the fund has been created to encourage the adoption of ‘Points of Sale’ machines by
New Delhi, June 4 After the Reserve Bank of India said the waiver of interest charges on EMIs during moratorium will lead to loss of 1 per cent of the GDP, Supreme Court on Thursday asked the finance ministry to
Mumbai, May 30 India’s foreign exchange reserves rose by over $3 billion during the week ended May 22. According to the RBI’s weekly statistical supplement, the overall forex reserves increased to $490.044 billion from $487.039 billion reported for the week
Mumbai, May 30 The Reserve Bank of India (RBI) has imposed a fine of Rs 4 crore on Citibank for non-compliance of regulations. In a statement issued on Friday, the RBI said the penalty has been imposed on Citibank N.A.
Mumbai, May 29 The Reserve Bank of India (RBI) said on Thursday that it has imposed a monetary penalty of Rs 5 crore on Bank of India. According to the regulator, the penalty was imposed for non-compliance with certain norms
New Delhi, May 26 Days after the Reserve Bank of India (RBI) said that India’s GDP growth for the financial year 2020-21 may remain in the negative territory, CRISIL has projected that the country’s economy contract by 5 per cent
New Delhi, May 23 The Confederation of Indian Textile Industry (CITI) has hailed the measures announced by RBI Governor Shaktikanta Das on Friday which are aimed at preserving the financial stability in the system and improving the functioning of the
Mumbai, May 22 In a bid to ease the pressure of interest repayment on borrowers, the Reserve Bank of India has deferred the interest repayment on working capital facilities for three months and has allowed the repayment of accrued interests
Mumbai, May 22 The Reserve Bank of India (RBI) will extend a credit line of Rs 15,000 crore to the Export-Import (EXIM) Bank of India. The announcement is part of the RBI’s latest measures to help businesses and the economy
New Delhi, May 22 In a big relief to the corporate sector the Reserve Bank of India on Friday allowed a three-month extension of moratorium on payment of instalment with respect to all term loans outstanding on March 1, 2020.
Mumbai, May 22 To mitigate the impact of COVID-19 induced economic fallout, the Reserve Bank of India on Friday further reduced key lending rates by 40 basis points to historic low levels. Making the announcement through an online address, RBI
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