Tag: Rbi

Mumbai: After leaving benchmark interest rates unchanged in the second consecutive policy review, RBI governor Shaktikanta Das on Thursday said the central bank has many other instruments to address the sluggishness the economy, not just interest rates. The Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy pegged GDP growth for FY21 at […]

New Delhi: The Reserve Bank of India’s (RBI) monetary policy meet on Thursday offered major policy measures to support the slowing real estate sector, drawing applause from sector players. To boost growth and lift sentiment, the RBI has eased the cash reserve ratio (CRR) requirement of commercial banks for sectors with multiplier-effect, including the residential […]

New Delhi: Reserve Bank Governor Shaktikanta Das on Saturday said transmission of rate cuts is expected to improve further in the coming days and that momentum is gathering pace on credit growth. Earlier this month, the central bank opted for a status quo on the benchmark interest rate, amid signs of hardening inflation and an […]

Mumbai: The top 50 non-banking finance companies (NBFCs) were being monitored closely, said Reserve Bank of India Governor Shaktikanta Das, here on Monday, hinting at the RBI’s focus on early detection of risks signs or any contagion effect on the credit system. “The asset-liability management (ALM) position and other relevant aspects of the top 50 […]

Mumbai: The Reserve Bank of India (RBI) will soon come out with a scheme to revive the capital-starved Yes Bank, RBI Governor Shakti Kanta Das said on Friday. “We took the step (of putting it under moratorium) when we found that Yes Bank efforts were not working. Depositors’ interests will be fully protected,” Das told […]

New Delhi: Finance Minister Nirmala Sitharaman on Friday said that Reserve Bank of India (RBI) is working towards for early resolution of Yes Bank issue and she is in constant touch with the Governor. “RBI Governor has assured that there will be no loss to any Yes Bank depositor,” she said, adding that the steps […]

New Delhi: The State Bank of India (SBI) on Saturday announced it will pick up a 49 per cent stake in Yes Bank for Rs 2,450 crore and clarified that all the deposits and liabilities of the reconstructed bank will continue in the “same manner”. The crisis-hit Yes Bank, which failed to garner investor support […]

Bhubaneswar: Odisha Finance Minister Niranjan Pujari has requested Union Finance Minister Nirmala Sitharaman to instruct the Reserve Bank of India (RBI) to allow release of Rs 545 crore deposited by Shree Jagannath Temple Administration (SJTA) in Yes Bank. “Various funds related to the temple i.e. Foundation Fund, Corpus Fund and Temple Fund are being managed […]

Mumbai: The country’s largest lender State Bank of India on Thursday said it has received approval to buy Rs 7,250 crore worth of shares in crisis-hit Yes Bank. “The executive committee of the central board (ECCB) at its meeting held on March 11 accorded approval for purchase of 725 crore shares in Yes Bank at […]

With normal banking services in Yes Bank to resume at 6 p.m. on Wednesday, the private sector bank’s administrator and new investors assured all deposit holders that their savings in the bank were absolutely safe and customers would have much better experience when they resume usual interaction with the lender. “There is no need to […]

New Delhi: The Reserve Bank has opened an emergency line of credit of around Rs 60,000 crore to Yes Bank to meet any liquidity crisis in paying back its depositors as the bank resumes normal operations from Thursday. The additional liquidity arsenal is in line with Section 17 (4) of the RBI Act and also […]

Mumbai: The Reserve Bank of India is virtually being run from a war-room at a city facility manned by just around 90 critical staff as the nation’s monetary authority works to insulate the financial system from disruptions due to the coronavirus outbreak. The facility, operational from March 19 as part of the Business Contingency Plan […]

Bhubaneswar: To stave off the economic hardships likely to arise out of the Coronavirus lockdown, the Reserve Bank of India today announced broad-based measures including liquidity infusion to the tune of Rs 3.74 lakh crore into the system. Moreover, the Central Bank also announced a three month moratorium on repayment of installments of all term […]

New Delhi: The Reserve Bank of India has announced new measures to ease the compliance burden on sectors of the Indian economy most affected by the coronavirus scare. Accordingly, it has extended realisation period of export proceeds to give more time to exporters to comply with regulations. Presently, the value of goods or software exports […]

New Delhi: While Coronavirus pandemic continues to sweep the world shutting down economies, the Reserve Bank of India on Friday announced a slew of measures to help the country fight the economic blues resulting from the impact of the lockdown. The RBI also cut reverse repo rate by 25 basis points to 3.75%, while keeping […]