Tag: Rbi

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 […]

New Delhi: The Supreme Court on Friday gave the RBI “one last opportunity” to disclose annual inspection reports of banks as it just stopped short of issuing a contempt notice against RBI Governor Shaktikanta Das, and ordered the Reserve Bank of India to diclose the wilful defaulters’ list under the Right To Information Act. The […]

With an aim to ensure that ATM-cum-debit and credit cardholders do not fall prey to frauds, the Reserve Bank of India (RBI) has asked all banks in the country to replace the old magnetic strip cards with the new EMV chip-based debit and credit cards. As per the RBI guidelines, the banks need to provide […]

The Reserve Bank of India (RBI) had asked all banks in the country to replace the old magnetic strip cards with the new EMV chip-based debit and credit cards. The apex court had also fixed the deadline for the same as April 29. As per the RBI guidelines, the banks need to provide new EMV […]

Mumbai: Public sector lender State Bank of India (SBI) on Wednesday became the first Indian bank to link its saving and loan interest rates to the Reserve Bank of India (RBI)’s repo rate. The move assumes significance as the effective interest rate from May 1 on savings deposit above Rs 1 lakh will come down […]

Bhubaneswar: A review meeting chaired by Union Finance Ministry Additional Secretary Debasish Panda was held today in Odisha in which emphasis was laid on revival of banking and insurance services in the cyclone Fani-affected areas of the State. Odisha Finance department secretary Ashok Meena, officials of banks, insurance companies, telecom operators, RBI and SLBC were […]

Chennai: Reserve Bank of India has decided to create a “specialised supervisory and regulatory cadre” to strengthen supervision over commercial banks, urban cooperative banks and Non-Banking Financial Companies (NBFCs). The decision was taken at the apex bank’s Central Board meeting which was held on Tuesday in Chennai. The Board reviewed the current economic situation, global […]

New Delhi: The Finance Ministry may ask the Reserve Bank of India (RBI) to put strong regulatory framework around NBFCs accessing non-bank public deposits, like pension and provident fund, as these are savings of the salaried class and must be kept away from avoidable risks like infrastructure NBFCs. Faced with liquidity crunch after IL&FS default […]

New Delhi/Mumbai: Further monetary policy easing is expected as the economy struggles with a demand downturn, liquidity constraint and a high finance cost, sources said on Friday. It is learnt that Reserve Bank of India would stick with its stance and further lower the repo rate, which will in turn reinvigorate consumer sentiment and shore […]

Mumbai: The Reserve Bank of India has decided to extend the usage timings for ‘Real Time Gross Settlement’ (RTGS) system from June 1. A notification to this effect was issued on Tuesday. RTGS is a financial transaction system, where there is continuous and real-time settlement of fund transfers, individually on a transaction-by-transaction basis. However, the […]

New Delhi: The Reserve Bank of India (RBI) on Wednesday announced the setting-up of a committee to work for the development of housing finance securitisation market in the country under the chairmanship of Harsh Vardhan, Senior Advisor with Bain & Co. An RBI notification said that the committee would review the existing state of mortgage-backed […]