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Inflation not major challenge, says Jaitley

Inflation not major challenge, says Jaitley

🕔15:32, 21.May 2015

New Delhi, May 21  With the Reserve Bank of India’s monetary policy review due on June 2, Finance Minister Arun Jaitley has said that inflation will not be a significant challenge though a below-average monsoon could possibly impact food prices.

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RBI directs banks to include ‘third gender’ in forms

RBI directs banks to include ‘third gender’ in forms

🕔11:19, 24.Apr 2015

Chennai, April 23  The Reserve Bank of India (RBI) on Thursday directed banks to include ‘third gender’ in all forms and applications enabling transgenders to avail banking services. Citing the Supreme Court judgment in the National Legal Services Authority vs

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Payment bank licence to be game changer: RBI official

Payment bank licence to be game changer: RBI official

🕔11:58, 22.Apr 2015

New Delhi, April 22  RBI said the issuance of payment bank licence would be a game changer in the realm of remittances and bill payments with potential collaborations between telecom companies and banks. Speaking at the ninth edition of the

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Finance ministry calls meeting of bank heads on April 28

Finance ministry calls meeting of bank heads on April 28

🕔12:50, 20.Apr 2015

New Delhi, April 20  The finance ministry has called a meeting of public sector bank chiefs on April 28 for planning implementation of large projects, a release said here on Sunday. The meeting has been called in view of the

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Indian banking sector to change in two years time: Rajan

Indian banking sector to change in two years time: Rajan

🕔10:59, 11.Apr 2015

Pune, April 11  The Indian banking sector is all set to see a sea change in next two years with several new institutions and existing government banks undergoing a great change, RBI governor Raghuram Rajan said on Friday. “In next

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RBI’s first policy review of fiscal on Tuesday

RBI’s first policy review of fiscal on Tuesday

🕔11:24, 6.Apr 2015

Mumbai, April 6  The Reserve Bank of India (RBI) is to announce its first bi-monthly monetary policy review of the current fiscal on Tuesday, when it is widely expected to leave the repo rate, at which it lends to commercial

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RBI unlikely to change repo rate at policy review

RBI unlikely to change repo rate at policy review

🕔13:50, 2.Apr 2015

Mumbai, April 2 The Reserve Bank of India (RBI) is widely expected to leave the repo rate, at which it lends to commercial banks, unchanged at 7.50 percent at its first bi-monthly monetary policy review of the new fiscal on

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RBI approves amalgamation of ING Vysya Bank with Kotak Mahindra

RBI approves amalgamation of ING Vysya Bank with Kotak Mahindra

🕔12:38, 2.Apr 2015

Chennai, April 2  The Reserve Bank of India (RBI) on Wednesday announced its sanction to the scheme of amalgamation of ING Vysya Bank Ltd with the Kotak Mahindra Bank Ltd. In a statement, the RBI said the scheme has been

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RBI’s pincer move to cut bank loan limit for corporates

RBI’s pincer move to cut bank loan limit for corporates

🕔11:32, 31.Mar 2015

Mumbai, March 31  India’s corporate sector may face a double whammy if the Reserve Bank of India goes ahead with its proposed norms on the exposure of bank credit to the corporate sector. As per a white paper circulated to

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Revolutionary budget sparks Rajan to cut rates

Revolutionary budget sparks Rajan to cut rates

🕔14:23, 5.Mar 2015

Mumbai, March 5  The second unscheduled cut on Wednesday – within two months – in the repo rate at which the Reserve Bank of India (RBI) lends to commercial banks was not as unexpected as the first in January. Indeed,

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‘SBI will cut interest rate based on evolving circumstances’

‘SBI will cut interest rate based on evolving circumstances’

🕔14:07, 4.Mar 2015

Mumbai, March 4  India’s largest mortgage lender State Bank of India (SBI) would decide on reducing its interest rates on the basis of emerging circumstances, a top official said Wednesday. Welcoming the Reserve Bank of India (RBI) decision to cut

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Finance ministry lauds rate cuts, nudges rating agencies

Finance ministry lauds rate cuts, nudges rating agencies

🕔12:58, 4.Mar 2015

New Delhi, March 4 The finance ministry welcomed the interest rate cuts announced by the Reserve Bank of India (RBI) Wednesday and said it was a vote of confidence on the steps taken by the government on fiscal consolidation and

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Which way will Rajan go with rates post-budget?

Which way will Rajan go with rates post-budget?

🕔13:35, 21.Feb 2015

Mumbai, Feb 21  With economic data before the union budget on Feb 28 showing inflation at a five-year low, Reserve Bank of India Governor Raghuram Rajan can perhaps indulge in a belated celebration of his birthday that fell Feb 3

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January trade deficit falls to 11-month low, exports down

January trade deficit falls to 11-month low, exports down

🕔10:58, 14.Feb 2015

New Delhi, Feb 14  India’s trade deficit in January fell to a eleven-month low by over 11 percent at $8.32 billion, from $9.43 billion in the corresponding month of 2014, government data showed Friday. The fall on a month-on-month basis

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Rajan puts onus of recovery on union budget

Rajan puts onus of recovery on union budget

🕔15:20, 7.Feb 2015

Mumbai, Feb 7  Observing his birthday frugally Tuesday by keeping key interest rates unchanged, Reserve Bank Governor Raghuram Rajan has put the onus on the government’s first full-fledged budget on Feb 28 to grow the “green shoots” of economic recovery.

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RBI sets up committees for small finance, payments banks applications

RBI sets up committees for small finance, payments banks applications

🕔08:37, 5.Feb 2015

Chennai, Feb 4 The Reserve Bank of India (RBI) Wednesday announced two four-member teams as the external advisory committees (EAC) for small finance banks and payments banks. In a statement, the RBI said the EAC for the small finance banks

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RBI holds rates amidst rich nations’ loose monetary policies

RBI holds rates amidst rich nations’ loose monetary policies

🕔12:37, 4.Feb 2015

Mumbai/New Delhi, Feb 4  As unexpectedly on his birthday, as he was with the unscheduled rate cut in January, Reserve Bank of India (RBI) Governor Raghuram Rajan Tuesday kept key interest rates unchanged in RBI’s sixth bi-monthly policy review. Fittingly,

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Reserve Bank keeps key interest rates unchanged

Reserve Bank keeps key interest rates unchanged

🕔11:18, 3.Feb 2015

New Delhi, Feb 3 The Reserve Bank of India (RBI) Tuesday decided to keep key interest rates unchanged in its sixth bi-monthly policy review. “We have maintained the status quo (on interest rates). We have taken action on other fronts,”

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India’s foreign exchange reserves stand at $322 bn

India’s foreign exchange reserves stand at $322 bn

🕔11:51, 24.Jan 2015

Chennai, Jan 24  India’s foreign exchange reserves went up by $2.66 billion to $322.14 billion as on Jan 16 due to increase in foreign currency assets as compared to the position a week ago, the Reserve Bank of India (RBI)

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Overseas Indian banks increased credit portfolio in 2013-14: RBI

Overseas Indian banks increased credit portfolio in 2013-14: RBI

🕔11:47, 17.Jan 2015

Chennai, Jan 17  Indian bank branches operating overseas increased its credit portfolio by 31.2 percent in 2013-14 whereas the credit by foreign banks in India declined 3.1 percent during the same period, the Reserve Bank of India (RBI) said. In

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