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Inflation focused RBI now moves to absorb excess liquidity

Inflation focused RBI now moves to absorb excess liquidity

🕔17:08, 7.Apr 2021

Mumbai, April 7  With an eye on inflation and surplus liquidity in the system, the RBI on Wednesday decided to conduct variable rate reverse repo (VRRR) auctions of longer maturity. The apex bank had recommenced VRRR auctions since January 15,

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RBI announces Rs 50,000 cr for NABARD, NHB, SIDBI

RBI announces Rs 50,000 cr for NABARD, NHB, SIDBI

🕔16:59, 7.Apr 2021

Mumbai, April 7  In a liquidity boost to all-India financial institutions such as NABARD and National Housing Bank (NHB), the Reserve Bank of India (RBI) has announced a liquidity support of Rs 50,000 crore to such institutions for fresh lending

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RBI Guv calls for coordinated action to give tax relief on petroleum products

RBI Guv calls for coordinated action to give tax relief on petroleum products

🕔12:04, 7.Apr 2021

Mumbai, April 7 (IANS) Reserve Bank of India Governor Shaktikanta Das on Wednesday put onus on both Centre and the States to ensure that through coordinated policy measures the cost build up in the petroleum products does not escalate further. While

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States to borrow Rs 1.78 lakh cr in April-June

States to borrow Rs 1.78 lakh cr in April-June

🕔06:50, 7.Apr 2021

Mumbai, April 7  States and Union Territories are likely to borrow Rs 1.78 lakh crore in the April-June quarter 2021. In a statement on Tuesday, the RBI said: “The Reserve Bank of India, in consultation with the state governments/Union Territories

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NBFC-MFIs to charge 7.81% average base rate in April-June

NBFC-MFIs to charge 7.81% average base rate in April-June

🕔15:14, 31.Mar 2021

Mumbai, March 31  The Reserve Bank of India (RBI) on Wednesday said that Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) will charge an applicable average base rate of 7.81 per cent from their borrowers during the April-June quarter. The

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Banks to conduct special clearing of govt cheques on Mar 31

Banks to conduct special clearing of govt cheques on Mar 31

🕔06:41, 29.Mar 2021

Mumbai, March 29  The Reserve Bank of India (RBI) has said that banks will conduct special clearing operations exclusively for government cheques on March 31 to facilitate accounting of all the government transactions for the current financial year. In a

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India’s forex reserve rises by over $1.7 bn

India’s forex reserve rises by over $1.7 bn

🕔11:42, 20.Mar 2021

Mumbai, March 20  India’s foreign exchange reserves rose by $1.739 billion during the week ended March 12. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $582.037 billion from $580.299 billion reported for the

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RBI to conduct OMOs worth Rs 10K cr on March 25

RBI to conduct OMOs worth Rs 10K cr on March 25

🕔07:02, 19.Mar 2021

Mumbai, March 19  To pump up liquidity, the Reserve Bank of India will conduct a one-day ‘Open Market Operations’ on March 25 to simultaneous purchase and sell government securities. The OMO session will see simultaneous purchase and sale of government

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RBI takes out IDBI Bank from PCA framework

RBI takes out IDBI Bank from PCA framework

🕔07:41, 11.Mar 2021

Mumbai, March 11  The Reserve Bank of India (RBI) has taken out IDBI Bank from Prompt Corrective Action (PCA) framework. In a statement on Wednesday, the central bank said that the performance of IDBI Bank was reviewed by the Board

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India’s foreign exchange reserves slip by $249 mn

India’s foreign exchange reserves slip by $249 mn

🕔21:29, 19.Feb 2021

Mumbai, Feb 19  India’s foreign exchange reserves declined by $249 million during the week ended February 12. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $583.697 billion from $583.945 billion reported for the

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RBI approves Piramal Group’s proposed takeover of DHFL

RBI approves Piramal Group’s proposed takeover of DHFL

🕔18:07, 18.Feb 2021

Mumbai, Feb 18  The Reserve Bank of India (RBI) has approved the takeover of Dewan Housing Finance Corporation Ltd (DHFL) by Piramal Group. The development comes just a month after the Committee of Creditors (CoC) of DHFL voted in favour

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RBI forms expert panel for Urban Co-operative Banks

RBI forms expert panel for Urban Co-operative Banks

🕔17:55, 15.Feb 2021

Mumbai, Feb 15  The Reserve Bank of India (RBI) has constituted an expert committee under the chairmanship of it’s former Deputy Governor N.S. Vishwanathan on Primary (Urban) Co-operative Banks. The eight-member panel will take stock of the regulatory measures taken

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India’s foreign exchange reserves plunges by over $6 bn

India’s foreign exchange reserves plunges by over $6 bn

🕔10:57, 13.Feb 2021

Mumbai, Feb 13  India’s foreign exchange reserves declined by $6.240 billion during the week ended February 5. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $583.945 billion from $590.185 billion reported for the

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RBI to provide exemptions for FPI investments in defaulted bonds

RBI to provide exemptions for FPI investments in defaulted bonds

🕔16:02, 5.Feb 2021

Mumbai, Feb 5  In a bid to promote more investments by foreign portfolio investors (FPI), the Reserve Bank of India (RBI) has decided to extend exemptions to FPIs into defaulted corporate bonds. FPIs in defaulted corporate bonds will be exempt

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RBI to roll out Integrated Ombudsman Scheme in June

RBI to roll out Integrated Ombudsman Scheme in June

🕔15:56, 5.Feb 2021

Mumbai, Feb 5  The Reserve Bank of India (RBI) will roll out the Integrated Ombudsman Scheme for banks, NBFCs and non-bank prepaid payment issuers (PPIs) in June this year. At present, the framework for alternate dispute resolution consists of three

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Structural Reform: RBI gives retail investors direct access to G-sec market

Structural Reform: RBI gives retail investors direct access to G-sec market

🕔12:00, 5.Feb 2021

Mumbai, Feb 5  The Reserve Bank of India (RBI) has decided to give retail investors direct access to the government securities market. The major structural reform was announced by RBI Governor Shaktikanta Das on Friday. According to Das, India will

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RBI releases circular on risk-based internal audit for NBFCs, UCBs

RBI releases circular on risk-based internal audit for NBFCs, UCBs

🕔14:18, 3.Feb 2021

Mumbai, Feb 3 The Reserve Bank of India (RBI) on Wednesday released a circular on risk-based internal audit (RBIA) for non-banking finance companies (NBFC) and urban co-operative banks (UCB). The circular covers all deposit taking and non-deposit taking NBFCs, including Core

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RBI appoints external IT firm for special audit of HDFC Bank’s IT infra

RBI appoints external IT firm for special audit of HDFC Bank’s IT infra

🕔14:29, 2.Feb 2021

Mumbai, Feb 2  The Reserve Bank of India (RBI) has appointed an external professional IT firm to carry out a special audit of the entire IT infrastructure of HDFC Bank. The development follows recent outage in the bank’s internet banking

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RBI to do annual assessment of banks’ grievances redressal system

RBI to do annual assessment of banks’ grievances redressal system

🕔07:47, 1.Feb 2021

Mumbai, Feb 01 The Reserve Bank of India (RBI) will undertake annual assessment of customer service and grievances redressal mechanisms of banks as part of its supervisory mechanism. The RBI recently decided to put in place a comprehensive framework for

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New RBI proposal for NBFC funding in IPOs to help primary issues in restoring sanity

New RBI proposal for NBFC funding in IPOs to help primary issues in restoring sanity

🕔10:46, 27.Jan 2021

The Reserve Bank of India issued a discussion paper last Friday on regulations concerning NBFCs. The crux of these regulations is to reduce significantly the arbitrage between NBFCs and banks. The other area of significance is IPO funding where currently

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