September 24, 2017
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RBI to transfer Rs 30,659 crore surplus to government
Mumbai, Aug 11 The Reserve Bank of India on Thursday said it will transfer Rs 30,659 crore surplus to the government for the year ended June 30, 2017. The Central Bank which follows the July-June year had transferred Rs 65,876 crore to the government’s...
RBI asks banks to periodically test cyber attack vulnerability
New Delhi, Aug 9 The Reserve Bank of India (RBI) has asked commercial banks to periodically conduct vulnerability test to test their cyber security preparedness, the government informed Parliament on Tuesday. “The RBI had issued advisories to banks...
RBI cuts key lending rates by 25 basis points
Mumbai, Aug 2 The Reserve Bank on Wednesday slashed benchmark lending rate by 0.25 per cent to 6 per cent citing reduction in upside risk to inflation, a move that will lower EMIs for home, auto and personal loans. This is the first rate cut since October...
RBI expected to cut key interest rate on Wednesday
Mumbai, Aug 1 With latest macro-economic data showing inflation at a record low and fall in factory output, the Reserve Bank of India (RBI) is expected to reduce its repo, or short term lending rate, at its monetary policy review on Wednesday. At its...
RBI imposes Rs 3 cr penalty on Union Bank for KYC non-compliance
Mumbai, Aug 01 The Reserve Bank of India (RBI) on Monday said it has imposed a penalty of Rs 3 crore on the Union Bank of India for non-compliance of Know Your Customer (KYC) norms. RBI imposed the penalty of Rs 2 crore and Rs 1 crore on July 26 under...
RBI needs to cut interest rate by 25 basis points: Assocham
New Delhi, July 31 Ahead of the Reserve Bank of India’s (RBI) forthcoming monetary policy review next week, industry chamber Assocham has on Sunday urged the apex bank to cut interest rates in view of latest data that shows inflation at a five-year...
RBI might take up NPAs worth Rs 8 lakh crore for resolution by 2019: Assocham
New Delhi, July 17 Industry body Assocham on Sunday said the Banking Regulation (Amendment) Ordinance has empowered the Reserve Bank of India (RBI) to take up “bad loans worth about Rs 8 lakh crore” for resolution by March 2019. According...
RBI removes restrictions on foreign investment in IDFC
Mumbai, June 22 The Reserve Bank of India (RBI) on Wednesday removed restrictions on foreign investments in IDFC. “The foreign shareholding by Foreign Institutional Investors (FIIs), Foreign Portfolios Investors (FPIs) in M/s IDFC Limited have...
RBI’s move on NPA resolution credit-positive for banks: Moody’s
Mumbai, June 19 Global credit rating agency Moody’s Investors Service on Monday dubbed as ‘credit-positive’ for Indian banks the RBI plans to resolve 12 large bank loan accounts accounting for 25 per cent of the banking system’s...
RBI revises NPA norms, announces penalty on banks for non-compliance
New Delhi, May 5 (IANS) In wake of the ordinance promulgated on Friday empowering the Reserve Bank of India (RBI) to tackle bad loans, the central bank revised the guidelines in this regard and warned banks of monetary penalty if they fail to meet the...
Ordinance on bad loans gets Presidential nod
New Delhi, May 5 An ordinance empowering the Reserve Bank of India (RBI) to tackle bad loans of banks got the Presidential nod on Friday. President Pranab Mukherjee signed the ordinance that will amend the Banking Regulation Act to tackle the burgeoning...
RBI to issue new Rs 5 and Rs 10 coins
Mumbai, April 27 The Reserve Bank of India (RBI) on Wednesday said that it will soon issue new Rs 10 and Rs 5 coins in circulation. According to the RBI, the central government has minted new Rs 5 coins to commemorate the “150th Anniversary of...
RBI maintains key lending rate at 6.25%
Mumbai, April 6 The Reserve Bank of India (RBI), in its first bi-monthly monetary policy review of 2017-18, on Thursday kept its key lending rate unchanged at 6.25 per cent, saying it awaited further macroeconomic data before making changes.However,...
RBI expected to keep rates unchanged on Thursday
Mumbai, April 4 The Reserve Bank of India (RBI) is expected to maintain its key lending rates at its first bi-monthly monetary policy review of this fiscal due on Thursday. At its last policy review of the previous fiscal in February, the RBI had kept...
Bad Bank: TACKLE NPAs JUDIOUSLY …
Bad Bank TACKLE NPAs JUDIOUSLY By Dhurjati Mukherjee The top brass of the Reserve Bank of India (RBI) met recently regarding setting up a bad bank, an idea most recently highlighted by Chief Economic Adviser Arvind Subramanian. This would help handle...
Exchange of Rs 4,500 in old notes allowed in Nepal: RBI
Kathmandu, March 27 The Reserve Bank of India (RBI) will allow exchange of up to Rs 4,500 in banned Indian currency notes to each Nepali national, a visiting team of the Indian central bank here hinted on Sunday.The Indian proposal has sent waves of...
Agency banks, RBI offices to remain open till April 1
Mumbai, March 25 The Reserve Bank of India (RBI) has asked all agency banks — all public sector banks and some private banks — to remain open on all days between March 25 and April 1.“To facilitate government receipt and payment functions,...
Jaitley, RBI Governor discuss banks’ bad loans
New Delhi, March 11 Finance Minister Arun Jaitley met with Reserve Bank of India (RBI) Governor Urjit Patel and other senior officials here on Friday to discuss the issue of banks’ non-performing assets (NPAs) or bad loans, sources said.“Lot...
RBI to issue new Rs 10 notes, old ones to remain valid
Mumbai, March 09 The Reserve Bank of India (RBI) on Thursday said it will shortly issue new Rs 10 denomination currency notes, while clarifying that the old Rs 10 notes will also remain valid.“The Reserve Bank of India will shortly issue Rs 10...