Tag: Rbi

Mumbai: Fund transfer through RTGS and NEFT systems is set to become cheaper from Monday after the Reserve Bank of India decided it will not impose any charges on such transactions. After announcing its decision to waive all charges on fund transfer through RTGS and NEFT systems from July 1, the Reserve Bank of India […]

New Delhi: The Economic Survey 2018-19 said that India’s inflation scenario transitioned from its high and volatile levels to a low and stable condition in the last five years. “The economy witnessed a gradual transition from a period of high and variable inflation to more stable and low level of inflation in the last five […]

New Delhi: A Credit Guarantee Enhancement Corporation is to be set up in 2019-20. This was announced by the Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, while presenting the Union Budget 2019-20 in Parliament today. The Finance Minister further said that we recognize that investment-driven growth requires access to low cost capital. It […]

New Delhi: Finance Minister Nirmala Sitharaman Saturday said the NBFC crisis seems to have bottomed out and the government along with the RBI will closely monitor the situation to ensure that the sector comes out of the wood. She further said that the government takes all the steps to keep inflation under check while dismissing […]

New Delhi: Finance Secretary Subhash Chandra Garg said Saturday increased petrol and diesel prices after the duty hike will have “very marginal impact” on inflation and any worry on that front is immaterial. He also said the government expects Rs 90,000 crore from the Reserve Bank of India (RBI) as dividend during the current fiscal. […]

End your transactions on a sweeter note with exciting cashbacks. With this message, State Bank of India (SBI), the country’s largest lender, took to Twitter to let its customers know that making payments just got sweeter! The SBI in its tweet has mentioned “Pay with BHIM SBI Pay and get exciting cashbacks that put a […]

New Delhi: The country’s largest bank, the State Bank of India, has been found flouting several rules in its attempt to cover up non-performing assets (NPAs), according to the RBI’s annual inspection report. The Reserve Bank of India’s report said that the SBI, among several banks from 2012 to 2015, was found to be flouting […]

State Bank of India (SBI), the country’s largest lender, has cut its benchmark lending rates by five basis points, thereby reducing home loan rates. The marginal cost of fund-based lending rate (MCLR) now stands at 8.40 per cent for the one-year tenor, down from 8.45 per cent, effective from today. In the current financial year, […]

Mumbai: The Reserve Bank of India on Monday said that it has imposed a penalty of Rs 7 crore on State Bank of India for non-compliance of several norms. “This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by […]

New Delhi: The Reserve Bank of India (RBI) has issued various instructions to banks in respect of security and risk mitigation measures related to card transactions. According to MoS Finance Anurag Thakur, the RBI has directed banks- (1) to provide online alerts for all card transactions (2) Introduce additional security measures, inter-alia, which include: All […]

Mumbai: The economy will not be able to achieve the official forecast of 7 percent growth in FY20, making it a second consecutive year of sub-7 percent expansion, says a report. Singaporean lender DBS estimates FY20 growth to stay at 6.8 percent, the same as FY19. The economic survey earlier this month had pegged growth […]

Mumbai: The Reserve Bank has slapped penalties on nine commercial banks, including State bank of India, Punjab National Bank and Bank of Baroda, for a host of violations, including delay on the reporting of fraud in the account of Kingfisher Airlines in case of two lenders. The nine lenders in separate regulatory filings said that […]

Mumbai: Sensex and Nifty on Wednesday traded on a flat note ahead of the Reserve Bank of India (RBI) policy rates announcement later in the day. The RBI is widely expected to go for a 25 basis points rate cut amid a widespread slowdown in the Indian economy. Except for metal stocks most other sectoral […]

Mumbai: The Reserve Bank on Wednesday cut key interest rate for the fourth consecutive time, as it reduces repo rate by 35 basis points to 5.40 per cent to boost the slowing economy. The six-member monetary policy committee (MPC) also maintained the accommodative stance on the monetary policy. Noting that inflation is currently projected to […]

New Delhi: Following a meeting with Finance Minister Nirmala Sitharaman on Thursday, India Inc is hopeful of receiving a stimulus from the Finance Ministry aimed at helping revive demand and consumption. The government is holding a series of consultations with industry to ascertain the key causes of the current slowdown and understand ways to fix […]