New Delhi: The Delhi High Court on Wednesday asked the Reserve Bank of India (RBI) to file reply on a plea complaining that Central Bank of India, the public sector lender, has disbursed the housing loan without linking it to the stages of construction for a under-construction greenfield housing project. A Bench of Chief Justice […]
May 01, 2021
New Delhi: The Supreme Court on Friday gave the RBI “one last opportunity” to disclose annual inspection reports of banks as it just stopped short of issuing a contempt notice against RBI Governor Shaktikanta Das, and ordered the Reserve Bank of India to diclose the wilful defaulters’ list under the Right To Information Act. The […]
May 01, 2021
With an aim to ensure that ATM-cum-debit and credit cardholders do not fall prey to frauds, the Reserve Bank of India (RBI) has asked all banks in the country to replace the old magnetic strip cards with the new EMV chip-based debit and credit cards. As per the RBI guidelines, the banks need to provide […]
May 01, 2021
Mumbai: Public sector lender State Bank of India (SBI) on Wednesday became the first Indian bank to link its saving and loan interest rates to the Reserve Bank of India (RBI)’s repo rate. The move assumes significance as the effective interest rate from May 1 on savings deposit above Rs 1 lakh will come down […]
May 01, 2021
The State Bank of India (SBI) has released a recruitment notification for the positions of Specialist Cadre Officers. Interested and eligible candidates can apply for the positions by May 20, 2019. Educational Qualification B.E./B.Tech./ MCA (from a recognized University). M.Sc./ M. Tech. in CS/ IT (from a recognized University) will be an added advantage. Age […]
May 01, 2021
Bhubaneswar: In a major relief, the Reserve Bank of India, Bhubaneswar has facilitated exchange of currency notes damaged in the severe cyclonic storm Fani. Not only this, it has also asked the banks to function for two additional hours, i.e. till 6PM. As per reports, all banks have been directed to allow exchange of currency […]
May 01, 2021
Sriharikota (Andhra Pradesh): India on Wednesday successfully placed into orbit a radar imaging earth observation satellite RISAT-2B in a text book style. India’s new earth observation satellite up in the sky will send good clarity images which will be used for agriculture, forestry and disaster management support, said Indian Space Research Organisation (ISRO), the country’s […]
Apr 30, 2021
Chennai: Reserve Bank of India has decided to create a “specialised supervisory and regulatory cadre” to strengthen supervision over commercial banks, urban cooperative banks and Non-Banking Financial Companies (NBFCs). The decision was taken at the apex bank’s Central Board meeting which was held on Tuesday in Chennai. The Board reviewed the current economic situation, global […]
Apr 30, 2021
New Delhi: The Finance Ministry may ask the Reserve Bank of India (RBI) to put strong regulatory framework around NBFCs accessing non-bank public deposits, like pension and provident fund, as these are savings of the salaried class and must be kept away from avoidable risks like infrastructure NBFCs. Faced with liquidity crunch after IL&FS default […]
Apr 30, 2021
New Delhi/Mumbai: Further monetary policy easing is expected as the economy struggles with a demand downturn, liquidity constraint and a high finance cost, sources said on Friday. It is learnt that Reserve Bank of India would stick with its stance and further lower the repo rate, which will in turn reinvigorate consumer sentiment and shore […]
Apr 30, 2021
Mumbai: The Reserve Bank of India has decided to extend the usage timings for ‘Real Time Gross Settlement’ (RTGS) system from June 1. A notification to this effect was issued on Tuesday. RTGS is a financial transaction system, where there is continuous and real-time settlement of fund transfers, individually on a transaction-by-transaction basis. However, the […]
Apr 30, 2021
New Delhi: The Reserve Bank of India (RBI) on Wednesday announced the setting-up of a committee to work for the development of housing finance securitisation market in the country under the chairmanship of Harsh Vardhan, Senior Advisor with Bain & Co. An RBI notification said that the committee would review the existing state of mortgage-backed […]
Apr 30, 2021
Mumbai: 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 its report by the end of August 2019. The RBI said that the terms of reference […]
Apr 30, 2021
With the elections resulting in a decisive mandate, the attention will now shift to policy — both fiscal and monetary — with the key aim of spurring growth, boosting the slowing consumption and attracting private investment. From a monetary policy perspective, the stated objective has been inflation-targeting and supportive of growth. Thus one can expect […]
Apr 30, 2021
Mumbai: Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks by 25 basis points (bps) to 5.75 per cent. Besides, the RBI changed the monetary policy stance from neutral to accommodative. Accordingly, the lower repo, or short-term lending […]
Apr 30, 2021
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