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RBI rejects India Bulls-Lakshmi Vilas Bank amalgamation

RBI rejects India Bulls-Lakshmi Vilas Bank amalgamation

🕔08:58, 10.Oct 2019

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

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RBI reduces key lending rate by 25 bps; maintains accomodative stance

RBI reduces key lending rate by 25 bps; maintains accomodative stance

🕔12:09, 4.Oct 2019

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

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RBI hikes withdrawal limit in PMC Bank to Rs 10k

RBI hikes withdrawal limit in PMC Bank to Rs 10k

🕔08:00, 27.Sep 2019

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

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RBI bars PMC Bank from doing business for 6 months

RBI bars PMC Bank from doing business for 6 months

🕔12:22, 24.Sep 2019

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

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SBI to adopt RBI’s repo rate as external benchmark

SBI to adopt RBI’s repo rate as external benchmark

🕔12:36, 23.Sep 2019

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

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RBI revises norms for concurrent audit of banks

RBI revises norms for concurrent audit of banks

🕔07:31, 20.Sep 2019

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

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RBI expands BBPS coverage to all categories

RBI expands BBPS coverage to all categories

🕔10:17, 17.Sep 2019

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,

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Banks’ 2018-19 savings deposits up at Rs 39.72 lakh cr: RBI

Banks’ 2018-19 savings deposits up at Rs 39.72 lakh cr: RBI

🕔17:32, 16.Sep 2019

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

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RBI reduces risk weight for consumer credit

RBI reduces risk weight for consumer credit

🕔11:30, 13.Sep 2019

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

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SBI cuts lending rates, home loans to get cheaper

SBI cuts lending rates, home loans to get cheaper

🕔13:21, 9.Sep 2019

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

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RBI working with regulators for securities lending product : DG

RBI working with regulators for securities lending product : DG

🕔18:41, 7.Sep 2019

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

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RBI to transfer Rs 1.76 lakh cr to govt under ECF

RBI to transfer Rs 1.76 lakh cr to govt under ECF

🕔20:43, 26.Aug 2019

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

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Government may receive first tranche of RBI surplus this calendar

Government may receive first tranche of RBI surplus this calendar

🕔18:00, 16.Aug 2019

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

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RBI imposes monetary penalty on eleven banks

RBI imposes monetary penalty on eleven banks

🕔10:23, 6.Aug 2019

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

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RBI’s higher interest rate a major reason for slowdown: RSS’ wing

RBI’s higher interest rate a major reason for slowdown: RSS’ wing

🕔11:47, 2.Aug 2019

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,

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IOB’s authorised capital increased to Rs 15,000 crore

IOB’s authorised capital increased to Rs 15,000 crore

🕔16:15, 30.Jul 2019

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

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India’s forex reserves rises to $429.91 billion

India’s forex reserves rises to $429.91 billion

🕔07:56, 13.Jul 2019

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

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SBI found flouting rules, says finally-released RBI report

SBI found flouting rules, says finally-released RBI report

🕔07:02, 10.Jul 2019

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

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FM-RBI meet on Budget briefing to discuss dividend, overseas bond, NBFCs

FM-RBI meet on Budget briefing to discuss dividend, overseas bond, NBFCs

🕔14:06, 8.Jul 2019

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

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India’s end-March external debt rises 2.6% to $543 bn

India’s end-March external debt rises 2.6% to $543 bn

🕔13:15, 29.Jun 2019

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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