Tag: Rbi

To measure the extent of financial inclusion in the country, it has been decided to construct and periodically publish a financial inclusion index (FII).

New Delhi: Government think tank Niti Aayog Vice Chairman Rajiv Kumar on Friday said banks are in a position to pass on interest rate cut benefits to the consumers and the industry. The Reserve Bank of India (RBI) had on February 7 announced a repo rate cut of 25 basis points, and so far State […]

New Delhi: The Reserve Bank of India (RBI) has raised a red-flag on the spike in non-performing assets (NPAs) under the government’s flagship scheme to support micro enterprises in the country — the Pradhan Mantri Mudra Yojana. According to Finance Ministry sources, RBI has cautioned the ministry that the scheme might turn-out to be the […]

Mumbai: Reserve Bank of India (RBI) has deferred the implementation of the last tranche of capital conservation buffer (CCB) till March 31, 2020. “It has been decided to defer the implementation of the last tranche of 0.625 per cent of Capital Conservation Buffer (CCB) from March 31, 2019 to March 31, 2020,” the RBI said […]

Mumbai: Yes Bank will submit names of the potential candidates for its Managing Director and Chief Executive post to the Reserve Bank of India (RBI) on Thursday. The bank in a regulatory filing after its Board meeting on Wednesday said that it has finalised the names which it will disclose only after RBI’s approval. According […]

Mumbai: The Reserve Bank of India (RBI) on Tuesday appointed Infosys co-founder Nandan Nilekani as the Chairman of a five-member committee to accelerate digitisation of the economy and boost financial inclusion. The committee will submit its report within 90 days from the date of its first meeting. “With a view to encouraging digitisation of payments […]

New Delhi: Assuring adequate liquidity measures whenever the need arises RBI Governor Shaktikanta Das on Monday noted that liquidity should not become “loose money” and the apex bank would exercise the measures with caution. The Reserve Bank of India has “a sense” of the current liquidity situation and after his appointment as its Governor has […]

Mumbai: India’s foreign exchange (forex) reserves depleted by $613.9 million during the week ended December 14, official data showed on Friday. According to the Reserve Bank of India (RBI)’s weekly statistical supplement, the overall forex reserves decreased to $393.12 billion from $393.73 billion reported for the week ended December 7. India’s forex reserves comprise foreign […]

New Delhi: Attacking the Narendra Modi government over its differences with RBI Governor Urjit Patel who resigned on Monday midway through his term, former Union Finance Minister P. Chidambaram on Thursday said the Modi government thinks it owns the RBI. He also hoped that the new Governor, Shaktikanta Das, although a vocal supporter of the […]

Mumbai: Hopes of lower interest rates and more liquidity on the back of easing retail inflation and the Reserve Bank’s outreach efforts and foreign fund inflows aided the barometer S&P BSE Sensex to gain over 150 points while NSE Nifty50 ended the session just short of 10,800 points. On a sector specific basis, the rise […]

New Delhi: Downplaying Reserve Bank of India (RBI) Governor Urjit Patel’s resignation, Niti Aayog vice-chairman Rajiv Kumar on Tuesday said the central bank is a professional institution and is not dependent on one individual. “RBI is such a professional institution, a long standing institution that the business will continue. It’s not as if it is […]

New Delhi: In the midst of a government-Reserve Bank of India (RBI) tussle over utilisation of capital reserves of the central bank, former Chief Economic Advisor Arvind Subramanian strongly supports the government’s view, saying the RBI is holding excess capital between Rs 4.5 and Rs 7 lakh crore which should be used to recapitalise the […]

New Delhi:Congress President Rahul Gandhi on Monday charged the Centre with destroying institutions and hoped Reserve Bank of India (RBI) Governor Urjit Patel will show Prime Minister Narendra Modi “his place”. He accused Modi of attempting to “destroy the RBI” through his “puppets” and “cronies”. “Modi and his coterie of cronies, continue to destroy every […]

Mumbai:  Union Road Transport and Highway Minister Nitin Gadkari on Saturday lashed out at banks saying they are not making financial closures for infrastructure projects worth Rs 2 lakh crore despite a “golden opportunity” and blamed the Reserve Bank for creating “more complications”. “One problem presently I am facing is — We have at least […]

Guwahati: Congress leader and former Finance Minister P. Chidambaram on Friday said that Prime Minister Narendra Modi-led BJP government is greedy and wants to take away the central bank’s reserves. “This government is greedy. No government in the past has asked for the reserve with the Reserve Bank of India,” said Chidambaram, who was in […]