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Tag "reserve bank of india"

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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RBI’s MPC found clear signs of economy losing traction

RBI’s MPC found clear signs of economy losing traction

🕔21:28, 20.Jun 2019

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,

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Fitch pegs India’s growth at 6.6% in 2019-20

Fitch pegs India’s growth at 6.6% in 2019-20

🕔06:51, 18.Jun 2019

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

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RBI slaps Rs 2 cr penalty on Kotak Mahindra Bank

RBI slaps Rs 2 cr penalty on Kotak Mahindra Bank

🕔07:33, 8.Jun 2019

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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RBI to issue revised NPA circular in 3-4 days

RBI to issue revised NPA circular in 3-4 days

🕔15:10, 6.Jun 2019

Mumbai, June 6  Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the RBI will issue a new circular on non-performing assets (NPAs) in three to four days. The circular is likely to set new norms and bring

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Rate cut hat-trick: RBI turns accommodative to boost growth

Rate cut hat-trick: RBI turns accommodative to boost growth

🕔13:06, 6.Jun 2019

Mumbai, June 6  Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) went for a hat-trick of rate cut on Thursday as it lowered its key lending rate for commercial banks by 25

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RBI sets up panel to develop secondary market for corporate loans

RBI sets up panel to develop secondary market for corporate loans

🕔10:00, 30.May 2019

Mumbai, May 30 The Reserve Bank of India on Wednesday constituted a task force on development of secondary market for corporate loans. The six-member task force will have T. N. Manoharan, Chairman of Canara Bank, as its chairperson and will submit

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