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Tag: Central Bank

Amid Crisis, SL Prez Appoints New Central Bank Chief
Amid Crisis, SL Prez Appoints New Central Bank Chief

Nandalal Weerasinghe was appointed as the governor of the central bank of Sri Lanka, following the resignation of Ajith Nivard Cabraal earlier this week, reports Xinhua news agency.

GoM May Consider Privatisation Of IOB, Central Bank This Year

Inching closer to privatisation of two public sector banks, a high-level panel of secretaries headed by Cabinet secretary is believed to have zeroed in on Central Bank and Indian Overseas Bank as possible candidates for sell-off this year.

Amid NBFC Crisis, SBI Reminds RBI Of Its Role As Lender Of Last Resort

New Delhi: Economists at the State Bank of India (SBI) have reminded the central bank that they should not forget their primary function of being the lender of last resort. As the NBFC continues to be in distress, economists at SBI on Friday called for the Reserve Bank of India (RBI) to play its role […]

Industry urges RBI Governor to cut interest rate to boost growth

Mumbai: Ahead of the Reserve Bank of India’s (RBI) monetary policy review early in February, India Inc on Thursday urged the central bank to cut its interest rate and the cash reserve ratio (CRR) in order to boost growth. In a meeting here with the new RBI Governor Shaktikanta Das, who will preside over his […]

Protecting depositors, taxpayers is public interest: RBI to Government

Mumbai: Amid speculation that the government may have invoked a hitherto unused section to overrule the Reserve Bank of India (RBI) on the pretext of “public interest”, the central bank has shot back with its own definition of “public interest”. Reserve Bank Deputy Governor N.S. Vishwanathan, in a recent speech, said when a bank is […]

Autonomy for RBI vital, public interest paramount: Government

New Delhi: Facing criticism for invoking a hitherto unused section to issue instructions to the RBI, the government on Wednesday said that it respected the autonomy of the central bank but within the framework of the RBI Act. “The autonomy for the central bank, within the framework of the RBI Act, is an essential and […]

RBI looked the other way when banks lent freely, ran up NPAs: Jaitley

New Delhi: Finance Minister Arun Jaitley on Tuesday held the central bank responsible for the mountain of bad loans, saying the Reserve Bank looked the other way when banks lent indiscriminately during 2008-14 to keep the economy humming. Jaitley’s comments reflect a growing tension between the RBI and the government, days after the central bank […]

US Fed to continue gradual rate hikes to manage potential risks

Washington: US Federal Reserve Chair Jerome Powell has reiterated that the central bank will stick to the strategy of gradual rate hikes to manage potential risks and support domestic economic recovery. Speaking on Friday at an annual economic symposium in Jackson Hole, Wyoming, Powell said the central bank faces two major risks — “moving too fast […]

US Federal leaves rates unchanged amid leadership change

Washington:The US Federal Reserve on Wednesday left its benchmark interest rates unchanged as current Federal Chair Janet Yellen prepares to hand over the leadership of the central bank to Jerome Powell later this week. The Federal decided to maintain the target range for the federal funds rate at 1.25 to 1.5 per cent after its […]

RBI maintains status quo; cuts growth forecast to 6.7% in FY18

Mumbai: The Reserve Bank today kept interest rate unchanged as was widely expected in view of upward trend in inflation even as it cut the growth forecast to 6.7 per cent for the current fiscal. Consequently, the repo rate, at which it lends to banks, will stand at 6 per cent. The reverse repo, at […]

No counting machines, but sophisticated currency verification units being used for scrapped notes: RBI

New Delhi: The Reserve Bank of India (RBI) is not using ‘counting machines’ for tallying the total number of demonetised notes of Rs 500 and Rs 1,000 in any of its offices, the central bank has said in an RTI reply. Rather, it is using “sophisticated Currency Verification and Processing (CVPS) machines for checking the […]