Tag: Rbi

New Delhi: The Reserve Bank of India Wednesday told the Delhi High Court that a Public Interest Litigation (PIL) cannot be used as a weapon to challenge the financial or economic decisions taken by the government or the RBI. The RBI made the submission in response to a PIL alleging that online payments platform Paytm […]

Mumbai: The Reserve Bank of India (RBI) on Friday told the Bombay High Court that an internet connection would not be required for its proposed mobile application which would help visually impaired people identify currency notes. RBI counsel Venkatesh Dhond told a division bench of Chief Justice Pradeep Nandrajog and Justice Bharati Dangre that a […]

Mumbai: Domestic equity benchmark BSE Sensex advanced 150 points in early session on Thursday, driven by gains in banking, metal and energy stocks, ahead of key macroeconomic data releases. After touching a high of 37,421.13, the 30-share index was trading 129.68 points, or 0.35 per cent, higher at 37,400.50 at 0940 hours, while the broader […]

New Delhi: With a focus on completing construction of unfinished units, the government on Saturday opened a special window of Rs 10,000 crore fund to provide last mile funding for housing projects which are non-NPA and non-NCLT and are net worth positive in affordable and middle income category. The government will also relax the ECB […]

New Delhi: The key Indian equity indices slumped over 1 per cent on Thursday with the BSE Sensex closing 470 points lower, owing to heavy selling in oil, metal and IT stocks amidst mixed global cues. Selling acitivity was witnessed across sectors and the key indices remained in the red throughout the day. Stock-wise, Yes […]

Mumbai: Banks will have to take more haircuts while resolving the stressed loans extended to non- banking lenders who are found wanting on the corporate governance front, Reserve Bank governor Shaktikanta Das warned Thursday. On the government move to have merge 10 banks to four larger ones, Das said the amalgamations ought to be non- […]

Mumbai: Domestic equity benchmark BSE Sensex skyrocketed over 1600 points in morning session on Friday after Finance Minister Nirmala Sitharaman announced a slew of measures to revive the ailing economy. In a major booster to the market, the government has decided to not levy the enhanced surcharge introduced in the Budget on capital gain arising […]

Mumbai: Asserting that the Reserve Bank is more than autonomous, governor Shaktikanta Das Friday said though the central bank engages with the government in free and frank discussions, there is no interference from it when it comes to taking decisions. Das said the differences of opinion between the government and the monetary authority happens in […]

Bhubaneswar: Fake currency circulation is still posing a real challenge in Odisha. Post dipping to a historic low in the demonetisation year, the total seizure value of Fake Indian Currency Notes (FICN) has again picked up pace to a record seizure of over Rs 7.3 crore in mere 9-months of 2019. However, the paradigm shift […]

Mumbai: The Reserve Bank of India (RBI) has barred the Punjab & Maharashtra Cooperative Bank Ltd (PMC), Mumbai from carrying out the majority of its routine business transactions for a period of six months, sparking panic among the depositors and sending shock-waves in the city banking and business circles on Tuesday. The apex bank’s Chief […]

Bhubaneswar: Even as the State Government goes gaga over KALIA (Krushak Assistance for Livelihood  & Income Augmentation) scheme, the reality is hard to digest – farmers in Odisha can’t avail farm credit to meet their input requirements like seed, fertiliser, pesticides, insecticides, irrigation charges and electricity. The Reserve Bank of India’s (RBI) report of the […]

Mumbai: Market benchmark BSE Sensex zoomed 396 points on Thursday, driven by gains in index heavyweights ICICI Bank, RIL, L&T and Maruti as September series derivatives expired amid positive cues from global markets. After rallying 565 points during the day, the 30-share Sensex ended 396.22 points, or 1.03 per cent, higher at 38,989.74. The broader […]

Mumbai: An internal working group (IWG) of the Reserve Bank of India, mandated to review the current liquidity management framework, has recommended the use of long term repo ops at market rates to manage liquidity. Lliquidity management is the operating procedure of monetary policy, which seeks to ensure that sufficient credit is provided to all […]

Mumbai: Shares of Lakshmi Vilas Bank hit the 5 per cent lower circuit on Monday after the Reserve Bank of India (RBI) initiated Prompt Corrective Action (PCA) against it on account of its high non-performing assets (NPA) among other issues. It hit the lower circuit right at the start of the trading session and fell […]

Mumbai: The Reserve Bank on Thursday enhanced the withdrawal limits for depositors of the scam-hit Punjab & Maharashtra Cooperative Bank to Rs 25,000 from Rs 10,000 per account over the next six month. This is the second time the regulator has increased the withdrawal limits since its clamped down on the bank on September 23 […]