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RBI received 8 applications to set up universal, small finance banks

RBI received 8 applications to set up universal, small finance banks

🕔10:05, 16.Apr 2021

Mumbai, April 16  The Reserve Bank has received eight applications for acquiring ‘on tap’ licenses to set up universal banks and small finance banks. The RBI received four applications each to set up universal banks and small finance banks. Applicants

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Inflation focused RBI now moves to absorb excess liquidity

Inflation focused RBI now moves to absorb excess liquidity

🕔17:08, 7.Apr 2021

Mumbai, April 7  With an eye on inflation and surplus liquidity in the system, the RBI on Wednesday decided to conduct variable rate reverse repo (VRRR) auctions of longer maturity. The apex bank had recommenced VRRR auctions since January 15,

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RBI extends ‘TLTRO on Tap’ scheme by 6 months

RBI extends ‘TLTRO on Tap’ scheme by 6 months

🕔12:26, 7.Apr 2021

Mumbai, April 7 The Reserve Bank on Wednesday decided to extend the ‘TLTRO on Tap’ liquidity scheme till September 30. The scheme provides liquidity support for revival of activity in specific sectors that have both backward and forward linkages and having

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RBI includes NBFCs to avail ‘TLTRO on Tap’ scheme benefit

RBI includes NBFCs to avail ‘TLTRO on Tap’ scheme benefit

🕔15:58, 5.Feb 2021

Mumbai, Feb 5  The Reserve Bank has proposed to allow the NBFC sector to avail the benefit of its ‘TLTRO on Tap’ scheme. The scheme provides liquidity support for revival of activity in specific sectors that have both backward and

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Neutral-to-positive impact of RBI’s draft circular on govt-owned NBFCs: Report

Neutral-to-positive impact of RBI’s draft circular on govt-owned NBFCs: Report

🕔09:00, 27.Dec 2020

New Delhi, Dec 27  The Reserve Bank’s recent draft circular on declaration of dividends by non-banking financial companies (NBFCs) will have a neutral-to-positive impact on government-owned NBFCs, India Ratings and Research (Ind-Ra) said. According to a Ind-Ra report, the new

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High inflation may make rate cut difficult even in FY22: Report

High inflation may make rate cut difficult even in FY22: Report

🕔16:32, 15.Dec 2020

New Delhi, Dec 15  The Reserve Bank would have limited options for policy easing of interest rates as inflation would continue to remain at elevated levels in the current fiscal, analysts tracking the development have said. According to a research

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RTGS to become functional round the clock from Dec 14

RTGS to become functional round the clock from Dec 14

🕔06:57, 10.Dec 2020

Mumbai, Dec 10  The Reserve Bank on Wednesday said that the Real Time Gross Settlement System’ (RTGS) will be made available round the clock from December 14. India will become one of the few countries in the world to operate

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RBI’s directive credit negative for HDFC Bank: Moody’s

RBI’s directive credit negative for HDFC Bank: Moody’s

🕔16:20, 7.Dec 2020

Mumbai, Dec 7  The Reserve Bank’s directive to HDFC Bank for temporarily stopping all launches of the Digital Business generating activities and sourcing of new credit card customers is “credit negative for the lender”, Moody’s Investors Service said on Monday.

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RBI asks HDFC to temporarily stop issuing new credit cards

RBI asks HDFC to temporarily stop issuing new credit cards

🕔17:46, 3.Dec 2020

Mumbai, Dec 3  The Reserve Bank has asked HDFC Bank to temporarily stop all launches of the Digital Business generating activities and sourcing of new credit card customers. The RBI’s order dated December 2 comes after outages in the bank’s

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RBI should let rupee appreciate to reduce imported inflation: SBI Ecowrap report

RBI should let rupee appreciate to reduce imported inflation: SBI Ecowrap report

🕔06:57, 26.Nov 2020

New Delhi, Nov 26  The Reserve Bank should let rupee appreciate to reduce imported inflation, a SBI Ecowrap report said on Wednesday. According to the report, the US dollar is expected to remain weak due to fragile US economic conditions.

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RBI asks UCBs to implement system-based asset classification

RBI asks UCBs to implement system-based asset classification

🕔08:14, 13.Aug 2020

Mumbai, Aug 13  The Reserve Bank has asked urban co-operative banks to implement system-based asset classification. The move is expected to improve the efficiency, transparency and integrity of the current asset classification system in UCBs. Accordingly, system-based asset classification is

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Inflationary woes: RBI retains lending rates, maintains accommodative stance

Inflationary woes: RBI retains lending rates, maintains accommodative stance

🕔07:26, 7.Aug 2020

Mumbai, Aug 7  The Reserve Bank on Thursday retained its key short-term lending rate to curb the rise in inflation, and stabilise the general economic environment. Even though it retained the repo rate — or short-term lending rate for commercial

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RBI booster: Rate cut expected even as inflation soars

RBI booster: Rate cut expected even as inflation soars

🕔07:22, 4.Aug 2020

Mumbai, Aug 4  The Reserve Bank is expected to administer another dose of lending rate cuts to boost the revival process from the Covid-19-induced economic downturn. Economists and industry experts pointed out that despite an elevated level of inflation, growth

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RBI to regulate non-bank payments aggregators

RBI to regulate non-bank payments aggregators

🕔09:47, 14.Jun 2020

Mumbai, June 13  The Reserve Bank will from now on regulate non-bank payments aggregators. Besides, existing non-bank PAs will be required to submit application seeking for authorisation on or before June, 30, 2021. In its “Oversight Framework for Financial Market

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RBI announces creation of Payments Infrastructure Development Fund

RBI announces creation of Payments Infrastructure Development Fund

🕔12:53, 5.Jun 2020

Mumbai, June 5 The Reserve Bank on Friday announced the creation of a Payments Infrastructure Development Fund’ with an initial contribution of Rs 250 crore. Accordingly, the fund has been created to encourage the adoption of ‘Points of Sale’ machines by

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Pandemic’s macroeconomic impact more severe: RBI Guv

Pandemic’s macroeconomic impact more severe: RBI Guv

🕔12:34, 22.May 2020

Mumbai, May 22  Reserve Bank’s Governor Shaktikanta Das on Friday said the macroeconomic impact of the pandemic is turning out to be more severe than initially anticipated. In an online address to announce the reduction in key lending rates, Das

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WMA limit enhanced to Rs 2 lakh cr till Sept

WMA limit enhanced to Rs 2 lakh cr till Sept

🕔20:16, 20.Apr 2020

Mumbai, April 20 Reserve Bank on Monday enhanced the Ways and Means Advances (WMA) limit to Rs 2 lakh crore for the remaining part of the first half of 2020-21. Accordingly, the limit has been enhanced for the period commencing from

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Specified G-secs to be opened for NRIs from April 1: RBI

Specified G-secs to be opened for NRIs from April 1: RBI

🕔07:05, 31.Mar 2020

New Delhi, March 31  The Reserve Bank on Monday notified that some categories of government securities will be opened fully for non-resident investors, and will continue to be open for the domestic investors. At present, G-secs are not fully opened

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RBI introduces new prepaid payment instrument

RBI introduces new prepaid payment instrument

🕔06:55, 25.Dec 2019

Mumbai, Dec 25  The Reserve Bank has introduced a new type of prepaid payment instrument (PPI) which could be used only for purchase of goods and services up to a limit of Rs 10,000 per month. “To give impetus to

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RBI to go for another rate cut to spur growth

RBI to go for another rate cut to spur growth

🕔14:55, 5.Jun 2019

New Delhi/Mumbai, June 5  A booster dose in the form of further rate cut is expected from the Reserve Bank to rekindle economic growth which has been stunted by low demand, receding production and stagnant wages. Economy watchers contend that

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