Tag: Rbi

India has potential to grow at a reasonably high pace in the post-pandemic scenario, said Reserve Bank of India Governor Shaktikanta Das.

The high-level meeting comes after RBI Governor Shaktikanta Das sounded an alarm on cryptocurrencies, cautioning investors on the potential pitfalls of the digital currency.

Lenders have also been asked to specifically mention in the loan agreements the exact due date of a loan and the breakup of the principal and interest, among others, instead of giving a description of the due dates, which leaves scope for interpretation.

With the launch of the scheme, he said, "One Nation-One Ombudsman" has become a reality.

The Reserve Bank-Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI. The central theme of the scheme is based on 'One Nation-One Ombudsman' with one portal, one email and one address for the customers to lodge their complaints.

The continuation of strong government support "such as the expansion of the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) and its extension till March 31, 2022" has helped companies manage temporary liquidity disruptions.

The decision was taken by the Appointments Committee of Cabinet headed by Prime Minister Narendra Modi.

The estimates of CRISIL Ratings are predicated on a base-case scenario of 9.5 per cent GDP growth this fiscal and continued improvement in corporate credit quality.

RBI Governor said that the pilot of this innovative technology facilitating digital payments in offline mode has been successful and the learnings indicate that there is a scope to introduce such solutions, especially in remote areas.

The current IMPS limit is Rs 2 lakh meaning a bank consumer can transfer this amount for making any immediate money transfer on a day.

RBI had last revised its policy repo rate or the short-term lending rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.

As Executive Director, Kumar will look after the Department of Currency Management, Foreign Exchange Department and Premises Department.

IBA, entrusted with the task of setting up a bad bank, has put a preliminary board for NARCL in place. The company has hired P M Nair, a stressed assets expert from State Bank of India (SBI), as the managing director.

Under the G-sec Acquisition Programme (G-SAP 2.0), the Reserve Bank will conduct open market purchase of government securities of Rs 25,000 crore on August 26

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.