Tag: Rbi

Mumbai: The Reserve Bank of India (RBI) has imposed separate monetary penalties on lenders — UCO Bank, Axis Bank and Syndicate Bank — over deficiencies in complying with different regulatory norms. The RBI imposed a penalty of Rs 2 crore each on UCO Bank and Axis Bank for non-compliance with its circular on ‘Collection of […]

Kolkata: State-run Allahabad Bank on Wednesday announced a net loss of Rs 732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs 1,263.79 crore reported for year ago period. The lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India (RBI), had reported a net […]

Kolkata: State-run Allahabad Bank on Wednesday announced a net loss of Rs 732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs 1,263.79 crore reported for year ago period. The lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India (RBI), had reported a net […]

Mumbai:The Reserve Bank of India Thursday cut benchmark interest rate by 0.25 per cent to 6.25 per cent on expectation of inflation staying within its target range, a move that may translate into lower monthly installments for home and other loans. The central bank also changed its monetary policy stance to ‘neutral’ from the earlier […]

Mumbai: The Reserve Bank of India (RBI) has imposed separate monetary penalties on lenders Allahabad Bank and Corporation Bank over deficiencies in complying with various regulatory norms. In a regulatory filing to the BSE on Friday, the Allahabad Bank said that the RBI has imposed a penalty of Rs 1.5 crore “for not monitoring the […]

New Delhi: The Reserve Bank of India may disallow credit rating agencies from the dual role of being advisor-cum-rating agencies for companies. The move aims to prevent such entities from making biased assessments about the financial condition of their clients and restrict conflict of interest that may seep in. Official sources said that the banking […]

Mumbai: India’s current account deficit (CAD) widened to $16.9 billion during the third quarter of 2018-19 from $13.7 billion reported in the corresponding period of 2017-18, the Reserve Bank of India (RBI) data showed on Friday. However, on a sequential basis, the Q3 CAD moderated from a higher level of $19.1 billion reported in the […]

New Delhi: In a huge relief to the regulated sector, the Supreme Court on Tuesday struck down as ultra vires the controversial Reserve Bank of India (RBI) circular mandating resolution of loans of Rs. 2,000 crore and above even for a single day. “We have declared RBI circular ultra vires,” said Justice Rohinton Fali Nariman […]

Mumbai: The Reserve Bank of India Thursday cut benchmark interest rate by 0.25 per cent for the second time in a row to bring interest rate to the lowest level in one year on softening inflation. The central bank, however, kept monetary policy stance at ‘neutral’. In the second policy review under Governor Shaktikanta Das, the […]

Mumbai: Within days of the Reserve Bank of India (RBI) lowering its key lending rate, state-run State Bank of India (SBI) on Tuesday reduced its benchmark marginal cost of funds based lending rate (MCLR) and home loan rates, effective from April 10. SBI reduced its MCLR by 5 basis points (0.05 per cent) across all […]

New Delhi: Reserve Bank of India (RBI) has tossed its hat in the ring for the taking over of Air Indias iconic tower at Nariman Point in Mumbai. The central bank is learnt to have offered 10 years’ lease rental as advance payment, a top reliable source told IANS . “The RBI wants to take the […]

Good news for account holders of State Bank of India (SBI) as interest rates on home, auto and other loans across all tenors has become cheaper. The SBI has lowered the marginal cost of fund-based lending rate (MCLR) to 8.50% for the one-year tenor, down from 8.55%. A day after the RBI cut its repo […]

Mumbai: Further addressing the liquidity concerns in the country, the Reserve Bank of India on Tuesday said it will buy government securities worth Rs 25,000 crore next month through two auctions of Rs 12,500 crore each. Open market operations (OMOs) are conducted by the RBI by sale or purchase of government securities (g-secs) to regulate money […]

New Delhi: The Reserve Bank of India (RBI) on Wednesday said that it has divested its entire stake in the National Bank For Agriculture and Rural Development and the National Housing Bank amounting to Rs 20 crore and Rs 1,450 crore respectively. Divestment of the RBI’s shareholding in NABARD was done in two phases, the […]

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 […]