Mumbai, April 7 States and Union Territories are likely to borrow Rs 1.78 lakh crore in the April-June quarter 2021. In a statement on Tuesday, the RBI said: “The Reserve Bank of India, in consultation with the state governments/Union Territories
Mumbai, March 31 The Reserve Bank of India (RBI) on Wednesday said that Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) will charge an applicable average base rate of 7.81 per cent from their borrowers during the April-June quarter. The
Mumbai, March 29 The Reserve Bank of India (RBI) has said that banks will conduct special clearing operations exclusively for government cheques on March 31 to facilitate accounting of all the government transactions for the current financial year. In a
Mumbai, March 20 The Reserve Bank of India’s budget for FY22 was approved on Friday by its Central Board of Directors. The approval comes before the apex bank shifts its accounting year to April-March period from FY22. “The Board, in its
Mumbai, March 20 India’s foreign exchange reserves rose by $1.739 billion during the week ended March 12. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $582.037 billion from $580.299 billion reported for the
Mumbai, March 19 To pump up liquidity, the Reserve Bank of India will conduct a one-day ‘Open Market Operations’ on March 25 to simultaneous purchase and sell government securities. The OMO session will see simultaneous purchase and sale of government
Mumbai, March 11 The Reserve Bank of India (RBI) has taken out IDBI Bank from Prompt Corrective Action (PCA) framework. In a statement on Wednesday, the central bank said that the performance of IDBI Bank was reviewed by the Board
Mumbai, Feb 18 The Reserve Bank of India (RBI) has approved the takeover of Dewan Housing Finance Corporation Ltd (DHFL) by Piramal Group. The development comes just a month after the Committee of Creditors (CoC) of DHFL voted in favour
Mumbai, Feb 15 The Reserve Bank of India (RBI) has constituted an expert committee under the chairmanship of it’s former Deputy Governor N.S. Vishwanathan on Primary (Urban) Co-operative Banks. The eight-member panel will take stock of the regulatory measures taken
Mumbai, Feb 6 Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday put onus on both the Centre and states to ensure through concerted policy measures that current cost build in petroleum products and industrials raw materials does not
Mumbai, Feb 5 The Reserve Bank of India (RBI) will roll out the Integrated Ombudsman Scheme for banks, NBFCs and non-bank prepaid payment issuers (PPIs) in June this year. At present, the framework for alternate dispute resolution consists of three
Mumbai, Feb 5 The Reserve Bank of India (RBI) has decided to give retail investors direct access to the government securities market. The major structural reform was announced by RBI Governor Shaktikanta Das on Friday. According to Das, India will
Mumbai, Feb 3 The Reserve Bank of India (RBI) on Wednesday released a circular on risk-based internal audit (RBIA) for non-banking finance companies (NBFC) and urban co-operative banks (UCB). The circular covers all deposit taking and non-deposit taking NBFCs, including Core
Mumbai, Feb 01 The Reserve Bank of India (RBI) will undertake annual assessment of customer service and grievances redressal mechanisms of banks as part of its supervisory mechanism. The RBI recently decided to put in place a comprehensive framework for
New Delhi, Jan 28 With the Reserve Bank of India (RBI) now saying that it is exploring the need for a digital version of fiat currency, cryptocurrency stakeholders have called the move a step in the right direction towards strengthening
The Reserve Bank of India issued a discussion paper last Friday on regulations concerning NBFCs. The crux of these regulations is to reduce significantly the arbitrage between NBFCs and banks. The other area of significance is IPO funding where currently
Mumbai, Jan 24 The Reserve Bank of India (RBI) is expected to rein in any sharp appreciation in rupee due to hefty FIIs’ inflows during the upcoming week. Experts contend that effects of large FIIs’ inflows will be neutralised by
Mumbai, Jan 23 The Reserve Bank of India (RBI) on Friday proposed a four-layered structure for non-banking finance companies (NBFCs) and new norms to strengthen their governance and operations. The RBI, in a discussion paper, proposed to differentiate between NBFCs
Mumbai, Jan 13 The Reserve Bank of India (RBI) on Tuesday imposed a penalty of Rs 2 crore on Deutsche Bank AG for non-compliance with certain directions issued by the central bank. An RBI statement said that the action is
Mumbai, Jan 6 The Reserve Bank of India has created a ‘Payments Infrastructure Development Fund’ to encourage acquirers to deploy ‘Points of Sale’ infrastructure in tier-3 to tier-6 centres and northeastern states. A PoS infrastructure can have physical or digital
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