Mumbai: Troubled private sector lender Yes Bank was placed under a “moratorium” on late Thursday, with the RBI capping depositor withdrawals at Rs 50,000 per account for a month and superseding the board with immediate effect. The Reserve Bank of India (RBI) took the decision in consultation with the government to protect depositors’ interest. The […]
Apr 19, 2021
Mumbai: The Reserve Bank of India (RBI) will soon come out with a scheme to revive the capital-starved Yes Bank, RBI Governor Shakti Kanta Das said on Friday. “We took the step (of putting it under moratorium) when we found that Yes Bank efforts were not working. Depositors’ interests will be fully protected,” Das told […]
Apr 19, 2021
New Delhi: Finance Minister Nirmala Sitharaman on Friday said that Reserve Bank of India (RBI) is working towards for early resolution of Yes Bank issue and she is in constant touch with the Governor. “RBI Governor has assured that there will be no loss to any Yes Bank depositor,” she said, adding that the steps […]
Apr 19, 2021
Bhubaneswar: At a time when opposition parties have turned the heat on the Odisha government for parking Sri Jagannath Temple funds in Yes Bank, the Reserve Bank of India (RBI) on Thursday categorically stated that all depositors’ money is entirely safe in private banks. The clarification comes in the wake of media reports that some […]
Apr 18, 2021
Mumbai: Describing the reconstruction scheme for Yes Bank as credible and sustainable, Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday sought to assure the private bank’s depositors that their hard-earned money is safe. He also said that the central bank will infuse additional liquidity into private lender, if required, and urged depositors that […]
Apr 18, 2021
New Delhi: The Reserve Bank has opened an emergency line of credit of around Rs 60,000 crore to Yes Bank to meet any liquidity crisis in paying back its depositors as the bank resumes normal operations from Thursday. The additional liquidity arsenal is in line with Section 17 (4) of the RBI Act and also […]
Apr 18, 2021
Bhubaneswar: The entire focus of the Odisha government is now on containing the outbreak of Coronavirus and the State Finance department on Friday urged Reserve Bank of India (RBI) to ensure availability of sufficient cash in banks & ATMs In a letter to RBI’s regional director in Bhubaneswar, the State Finance Department Secretary cum-DIF, PK […]
Apr 18, 2021
Mumbai: The Reserve Bank of India is virtually being run from a war-room at a city facility manned by just around 90 critical staff as the nation’s monetary authority works to insulate the financial system from disruptions due to the coronavirus outbreak. The facility, operational from March 19 as part of the Business Contingency Plan […]
Apr 18, 2021
Bhubaneswar: To stave off the economic hardships likely to arise out of the Coronavirus lockdown, the Reserve Bank of India today announced broad-based measures including liquidity infusion to the tune of Rs 3.74 lakh crore into the system. Moreover, the Central Bank also announced a three month moratorium on repayment of installments of all term […]
Apr 18, 2021
New Delhi: The Reserve Bank of India has announced new measures to ease the compliance burden on sectors of the Indian economy most affected by the coronavirus scare. Accordingly, it has extended realisation period of export proceeds to give more time to exporters to comply with regulations. Presently, the value of goods or software exports […]
Apr 18, 2021
New Delhi: While Coronavirus pandemic continues to sweep the world shutting down economies, the Reserve Bank of India on Friday announced a slew of measures to help the country fight the economic blues resulting from the impact of the lockdown. The RBI also cut reverse repo rate by 25 basis points to 3.75%, while keeping […]
Apr 17, 2021
Mumbai: To mitigate the impact of economic fallout on financial liquidity due to COVID-19 pandemic, the Reserve Bank of India on Friday announced a set of new measures including a reduction in reverse repo rate. Accordingly, the rate now stands at 3.75 per cent of Liquidity Adjustment Facility (LAF). The reverse repo is an important […]
Apr 17, 2021
Mumbai: The Reserve Bank of India on Monday announced a Rs 50,000 crore special liquidity facility for mutual fund, days after Franklin Templeton Mutual Fund decided to close six debt schemes. In a statement, the central bank said heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), […]
Apr 17, 2021
Mumbai: To mitigate the economic impact of COVID-19 outbreak, the Reserve Bank of India (RBI) on Friday again reduced the key lending rates by 40 basis points. Accordingly, the Monetary Policy Committee of the central bank in an unscheduled meet reduced the repo rate by 40 basis points to 4 per cent from 4.40 per […]
Apr 16, 2021
Washington: A rocket ship built by Elon Musk’s SpaceX company on Saturday successfully blasted off with two NASA astronauts into orbit from the US state of Florida on their way to the International Space Station, marking the dawn of a new age in commercial space travel. The blastoff from Kennedy Space Center in Florida also […]
Apr 16, 2021
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