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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Mumbai, June 20 At the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting earlier this month, RBI Governor Shaktikanta Das had pointed to clear evidence of economic activity losing traction while presenting the rationale for a rate cut,
New Delhi, June 18 Fitch Ratings on Monday saw India’s growth for FY 2019-20 at 6.6 per cent and 7.1 per cent in 2021-22. Fitch was optimistic on India’s growth, saying that the monetary and regulatory easing from the Reserve
Mumbai, June 8 The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 2 crore on Kotak Mahindra Bank for not complying with the central bank’s directions to furnish details of its promoter shareholding. The bank was
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