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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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RBI’s MPC found clear signs of economy losing traction

RBI’s MPC found clear signs of economy losing traction

🕔21:28, 20.Jun 2019

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,

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Fitch pegs India’s growth at 6.6% in 2019-20

Fitch pegs India’s growth at 6.6% in 2019-20

🕔06:51, 18.Jun 2019

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

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Demonetisation, Aadhaar spurred digital payments growth : RBI

Demonetisation, Aadhaar spurred digital payments growth : RBI

🕔14:41, 9.Jun 2019

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

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RBI slaps Rs 2 cr penalty on Kotak Mahindra Bank

RBI slaps Rs 2 cr penalty on Kotak Mahindra Bank

🕔07:33, 8.Jun 2019

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

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Cash deeply embedded in payment systems in India: RBI

Cash deeply embedded in payment systems in India: RBI

🕔07:05, 8.Jun 2019

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

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RBI issues new circular on resolution of stressed assets

RBI issues new circular on resolution of stressed assets

🕔22:53, 7.Jun 2019

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

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Rate cut hat-trick: RBI turns accommodative to boost growth

Rate cut hat-trick: RBI turns accommodative to boost growth

🕔13:06, 6.Jun 2019

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

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RBI to remove transaction charges on RTGS, NEFT

RBI to remove transaction charges on RTGS, NEFT

🕔09:09, 6.Jun 2019

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

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RBI to go for another rate cut to spur growth

RBI to go for another rate cut to spur growth

🕔14:55, 5.Jun 2019

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

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RBI sets up panel to develop secondary market for corporate loans

RBI sets up panel to develop secondary market for corporate loans

🕔10:00, 30.May 2019

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

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RBI to extend RTGS deadline to 6 p.m. from June 1

RBI to extend RTGS deadline to 6 p.m. from June 1

🕔08:29, 29.May 2019

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,

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RBI to inject durable liquidity worth Rs 15,000 cr

RBI to inject durable liquidity worth Rs 15,000 cr

🕔07:01, 25.May 2019

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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