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Tag "reserve bank of india"

RBI to provide liquidity facility to make NEFT system 24×7

RBI to provide liquidity facility to make NEFT system 24×7

🕔07:12, 14.Dec 2019

Mumbai, Dec 14  The Reserve Bank of India (RBI) has decided to provide an additional collateralised intra-day liquidity facility for smooth operation of payment system National Electronic Funds Transfer (NEFT) on a round-the-clock basis from December 16, the central bank

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India’s forex reserves rise to over $451 bn

India’s forex reserves rise to over $451 bn

🕔14:51, 7.Dec 2019

Mumbai, Dec 7  India’s foreign exchange reserves rose by $2.48 billion during the week ended November 29, official data showed on Friday. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves increased to $451.08 billion

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RBI slaps Rs 1 cr penalty on Bandhan Bank

RBI slaps Rs 1 cr penalty on Bandhan Bank

🕔07:00, 30.Oct 2019

New Delhi, Oct 30  The Reserve Bank of India (RBI) on Tuesday imposed Rs 1 crore penalty on Bandhan Bank for non-compliance with promoter holding norms, contained in the licencing guidelines. Under the guidelines, the bank was required to bring

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PMC Bank depositors now allowed to withdraw Rs 40,000

PMC Bank depositors now allowed to withdraw Rs 40,000

🕔07:39, 15.Oct 2019

Mumbai, Oct 15  The Reserve Bank of India on Monday again raised the withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank – to Rs 40,000 from Rs 25,000. According to the RBI, the latest relaxation will allow about

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RBI fixes coop banks’ daily reporting system post PMC fraud

RBI fixes coop banks’ daily reporting system post PMC fraud

🕔09:40, 12.Oct 2019

Mumbai, Oct 12  The Reserve Bank of India on Friday has changed the daily reporting system at cooperative banks after the collapse of Punjab and Maharashtra Cooperative Bank following the unearthing of over Rs 4,000 crore fraud there. In a

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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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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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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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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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Despite RBI cuts, consumers yet to benefit as transmission slow

Despite RBI cuts, consumers yet to benefit as transmission slow

🕔19:09, 7.Aug 2019

Mumbai, Aug 7  In a bid to boost demand and growth, the RBI’s Monetary Policy Committee (MPC) on Wednesday announced 35 bps cut in repo rate, which eventually is expected to be transmitted to retail loans. However, a look at

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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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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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RBI levies Rs 7 cr fine on SBI for non-compliance of norms

RBI levies Rs 7 cr fine on SBI for non-compliance of norms

🕔09:52, 16.Jul 2019

Mumbai, July 16  The Reserve Bank of India on Monday said that it has imposed a penalty of Rs 7 crore on State Bank of India for non-compliance of several norms. “This action is based on deficiencies in regulatory compliance

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RBI panel estimates transferable surplus at just Rs 8,000 cr: Report

RBI panel estimates transferable surplus at just Rs 8,000 cr: Report

🕔08:59, 3.Jul 2019

New Delhi, July 3  The panel set up to review the Reserve Bank of India’s economic capital framework estimated the transferable surplus, or the amount the central bank could potentially pass on to the government, at close to Rs 8,000

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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 sets base rate of 9.18% for NBFC-MFI borrowers for July-Sept

RBI sets base rate of 9.18% for NBFC-MFI borrowers for July-Sept

🕔13:10, 29.Jun 2019

Mumbai, June 29  The Reserve Bank of India on Friday set an average base rate of 9.18 per cent for non-banking financial companies and micro finance institutions to be charged from their customers for the quarter beginning July 1. “The

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