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RBI to conduct special ‘Open Market Operations’ to pump up liquidity

RBI to conduct special ‘Open Market Operations’ to pump up liquidity

🕔18:50, 29.Jun 2020

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

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Co-op banks come under RBI as President clears ordinance

Co-op banks come under RBI as President clears ordinance

🕔10:22, 27.Jun 2020

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

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RBI Governor briefs central board on Covid-19 relief measures

RBI Governor briefs central board on Covid-19 relief measures

🕔18:14, 26.Jun 2020

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

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Govt discussing with RBI on one-time loan rejig for stressed cos

Govt discussing with RBI on one-time loan rejig for stressed cos

🕔07:24, 26.Jun 2020

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

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RBI to supervise co-op banks, Cabinet nod to ordinance

RBI to supervise co-op banks, Cabinet nod to ordinance

🕔17:55, 24.Jun 2020

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,

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RBI enhances PMC Bank withdrawal limit to Rs 1 lakh

RBI enhances PMC Bank withdrawal limit to Rs 1 lakh

🕔07:28, 20.Jun 2020

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

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RBI to regulate non-bank payments aggregators

RBI to regulate non-bank payments aggregators

🕔09:47, 14.Jun 2020

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

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SC gives 3 days to Fin Min, RBI to decide on moratorium period interest

SC gives 3 days to Fin Min, RBI to decide on moratorium period interest

🕔13:47, 12.Jun 2020

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

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RBI proposes 10 yrs cap on term of bank promoters functioning as CEO

RBI proposes 10 yrs cap on term of bank promoters functioning as CEO

🕔07:19, 12.Jun 2020

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

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RBI announces creation of Payments Infrastructure Development Fund

RBI announces creation of Payments Infrastructure Development Fund

🕔12:53, 5.Jun 2020

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

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Charging interest during moratorium is serious issue : SC

Charging interest during moratorium is serious issue : SC

🕔14:13, 4.Jun 2020

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

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India’s forex reserves rise by over $3 bn

India’s forex reserves rise by over $3 bn

🕔06:41, 30.May 2020

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

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RBI slaps Rs 4 cr penalty on Citibank for non-compliance of regulations

RBI slaps Rs 4 cr penalty on Citibank for non-compliance of regulations

🕔06:16, 30.May 2020

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.

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RBI slaps penalties on Bank of India, Karnataka Bank

RBI slaps penalties on Bank of India, Karnataka Bank

🕔06:51, 29.May 2020

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

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India’s GDP likely to contract 5% in FY 2020-21: Crisil

India’s GDP likely to contract 5% in FY 2020-21: Crisil

🕔18:25, 26.May 2020

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

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RBI’s measures will boost exports, imports, debt servicing : CITI

RBI’s measures will boost exports, imports, debt servicing : CITI

🕔07:00, 23.May 2020

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

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RBI defers interest payment on working capital loans for 3 months

RBI defers interest payment on working capital loans for 3 months

🕔16:33, 22.May 2020

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

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RBI extends Rs 15,000 cr credit line to EXIM Bank

RBI extends Rs 15,000 cr credit line to EXIM Bank

🕔12:41, 22.May 2020

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

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RBI gives more time to India Inc to repay loans

RBI gives more time to India Inc to repay loans

🕔12:39, 22.May 2020

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.

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RBI unleashes more firepower; cuts lending rates; extends moratorium

RBI unleashes more firepower; cuts lending rates; extends moratorium

🕔10:57, 22.May 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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