Tag: Rbi

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 […]

Mumbai: The Reserve Bank of India on Wednesday constituted a task force on development of secondary market for corporate loans. The six-member task force will have T. N. Manoharan, Chairman of Canara Bank, as its chairperson and will submit its report by the end of August 2019. The RBI said that the terms of reference […]

With the elections resulting in a decisive mandate, the attention will now shift to policy — both fiscal and monetary — with the key aim of spurring growth, boosting the slowing consumption and attracting private investment. From a monetary policy perspective, the stated objective has been inflation-targeting and supportive of growth. Thus one can expect […]

Mumbai: Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks by 25 basis points (bps) to 5.75 per cent. Besides, the RBI changed the monetary policy stance from neutral to accommodative. Accordingly, the lower repo, or short-term lending […]

Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the RBI will issue a new circular on non-performing assets (NPAs) in three to four days. The circular is likely to set new norms and bring clarity over classification of companies as NPAs. The apex court had on April 2 struck down RBI’s […]

New Delhi: Getting a leg-up from the demonetisation of Rs 500 and Rs 1,000 currency notes in November 2016, the share of e-Money in India’s payment systems grew to 21.5 per cent in 2017 from 0.8 per cent in 2012, according to a new report prepared by the Reserve Bank of India (RBI). With Rs […]

New Delhi: Despite a large growth in digital payments after demonetisation of Rs 500 and Rs 1,000 notes in 2016, cash is “deeply embedded” in the payment system in India, according to a new report from the Reserve Bank of India. At 11.59 per cent of Gross Domestic Product (GDP) India had a high cash […]

New Delhi: The number of ATMs in India dropped to 2,21,703 as on March 31, 2019 from 2,22,300 at the end of 2017, recording a decrease of 597 ATMs during the period, according to a report released by the Reserve Bank of India. India also has one of the lowest ratios of ATM cash withdrawal […]

New Delhi: After the demonetisation of Rs 500 and Rs 1000 notes in 2016 pushed digital payments, Aadhaar-enabled electronic know your customer (eKYC) resulted in an exponential growth of such payments in the country, according to a new report by the Reserve Bank of India. Transactions in which both the payer and the payee use […]

New Delhi: The State Bank of India has refused to disclose any communication it received from the government or the Reserve Bank of India on electoral bonds, terming it “personal information” and held in “fiduciary capacity”. Responding to an RTI filed by Pune-based activist Vihar Durve who had demanded copies of all letters, correspondence, directions, […]