Tag: Rbi

New York: The titans at the commanding heights of the tech world owe their success to talent from across the globe, according to Reserve Bank of India Governor Urjit Patel, who pointed to what could be the Achilles heel of the ‘America First’ policy that seeks to restrict H1-B visas and imports. “Where would Apple […]

New Delhi: Finance Minister Arun Jaitley on Friday said post the November 8 demonetisation, around 18 lakh bank accounts have been found where the amount deposited does not match with the income profile of the account holder. Replying to questions in the Lok Sabha on Friday, Jaitley said data mining was used to find such […]

Mumbai: The RBI needs to print an additional Rs 1.15 lakh crore-worth of currency notes to reach a level of optimal remonetisation, with Rs 13.12 lakh crore already in circulation as on March 24, the State Bank of India (SBI) said on Friday. “We believe Reserve Bank of India (RBI) should only print Rs 1.15 lakh […]

Bhubaneswar: The Odisha government on Wednesday demanded more small denomination notes of Rs 500 and Rs 100 to ease the troubles of people in rural areas of the state. “The situation in urban areas has improved to some extent. However, the problem still persists in rural areas. We have asked the central team and RBI […]

New Delhi: Former Economic Affairs Secretary Shaktikanta Das on Wednesday assumed charge as RBI Governor after Urjit Patel abruptly resigned from the post amidst a tiff with the government on the central bank’s autonomy. “Assumed charge as Governor, Reserve Bank of India. Thank you each and everyone for your good wishes,” the new incumbent said […]

New Delhi: The Reserve Bank is likely to maintain status-quo on interest rate in the upcoming monetary policy review on December 5 despite moderation in economic growth and easing inflation, opined experts. After back-to-back hikes since June, the RBI had kept interest rates unchanged in the previous policy review in October, surprising markets that had […]

New Delhi:The government and Reserve Bank seem to be veering around to reach an agreeable solution particulary with respect of relaxation of the Prompt Corrective Action (PCA) framework and easing of lending norms for the MSME sector ahead of the RBI board meeting on November 19, sources said. If not in this board meeting, sources […]

Mumbai: The BSE benchmark Sensex dropped over 200 points Wednesday amid rising tension between the Reserve Bank of India and the government. Investor sentiment turned weak in early session on reports that the government may invoke certain provisions to issue directions to the central bank. The BSE Sensex turned choppy after opening higher, and was […]

Mumbai: The Reserve Bank today retained the GDP forecast for the current fiscal at 7.4 per cent on robust corporate earnings and buoyant rural demand, though it flagged global trade tensions for Indian exports. In the third bi-monthly monetary policy statement for 2018-19, RBI said various indicators suggest that economic activity has continued to be […]

New Delhi: The Reserve Bank of India (RBI) has made linking of national biometric ID Aadhaar to bank accounts mandatory as part of its updated ‘Know Your Customer (KYC)’ guidelines. This, however, will be subject to the final decision of the Supreme Court on making of Aadhaar mandatory, RBI said in a circular late last […]

New Delhi: Visually impaired persons are a lot affected and facing problems by the newly introduced currency notes and coins, the Delhi High Court observed on Friday and issued notice to the government and the RBI. The court said the matter was of “very grave public interest” and should be addressed seriously. A number of […]

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 […]

New Delhi: The government on Wednesday gave its go-ahead to the Reserve Bank to issue Rs 200 notes that will ease pressure on lower-denomination currency bills. The finance ministry, in a notification, said that on the recommendations of the Central Board of Directors of the RBI, “the central government hereby specifies the denomination of banknotes […]

Mumbai: The Reserve Bank today slashed benchmark lending rate by 0.25 per cent to 6 per cent citing reduction in upside risk to inflation, a move that will lower EMIs for home, auto and personal loans. This is the first rate cut since October 2016 and the interest rate is now at 6-year low. In line […]

New Delhi: Reserve Bank of India (RBI) Governor Urjit Patel’s appearance before a parliamentary panel for a second briefing on demonetisation has been put off from May 25 to June 8, as work on framing the monetary policy would be underway at that time. The Standing Committee on Finance, which had questioned Patel on January […]