The board also discussed the working of RBI during the year April 2021 March 2022 and approved the annual report and accounts for the accounting year 2021-22, the statement said.
According to analysts, a likely intervention by the Reserve Bank of India to arrest the sharp fall in rupee value against the US dollar depleted the reserve.
The RBI accepted the recommendation that no changes be made to the extant instructions related to the initial lock-in requirements of holding a minimum 40 per cent of the paid-up voting equity share capital of the bank for the first five years but said no cap on the promoters holding during the same period.
FCAs declined by USD 3.365 billion to USD 573.009 billion.
Under the G-sec Acquisition Programme (G-SAP 2.0), the Reserve Bank will conduct open market purchase of government securities of Rs 25,000 crore on August 26
RBI has decided to charge penalties on banks for non-availability of cash in ATMs
The Reserve Bank of India has limited the maximum continued term of managing directors and whole time directors (WTD) of urban cooperative banks (UCBs) to 15 years in a series of steps taken to ensure professional management of these institutions that have often been found undertaking non-transparent activities right at the top.
New Delhi: In line with the Reserve Bank of India’s (RBI) guidelines, Airtel Payments Bank on Sunday announced that it has become the first payments bank in the country to…
New Delhi: Reserve Bank of India Governor Shaktikanta Das on Thursday said that the central bank has flagged major concerns over cryptocurrency to the government. Speaking at the Times Network India Economic Conclave, the Governor said that digital currency is one thing and the cryptocurrencies which are being traded in the market is something else. […]
Bhubaneswar: The Reserve Bank Of India (RBI) has decided to extend the Cheque Truncation System (CTS) across banks in the country. Earlier, the RBI had announced pan-India coverage of CTS by bringing all branches of banks in the country under an image-based CTS clearing mechanism. As per the latest notification, the CTS is in use […]
Bhubaneswar: The Reserve Bank of India (RBI) has issued notification for recruitment to fill up several vacancies. Applications have been invited for recruitment of Assistant Manager (Official Language), Legal Officer (Grade-B), Manager Technical Civil, Assistant Manager Protocol and Security officers. Vacancy details: Assistant Manager (Official Language) – 12 Posts Legal Officer (Grade-B) – 11 Posts […]
Bhubaneswar: The social media was recently abuzz with news regarding withdrawal of old banknotes in the denominations of Rs 100, 10 and 5. The Reserve Bank of India (RBI) was quick to issue a statement and termed such news as ‘incorrect.’ Now a message post (e-mail) is doing rounds on several social media platforms about […]
Reserve Bank of India (RBI) had recently released a short notification inviting applications for the posts of Grade B officers. The job notification was published to fill 322 vacancies. Candidates can start filling the RBI Grade B 2021 application form online from January 28, 2021 i.e. tomorrow. The last date for online application is February […]
Bhubaneswar: Following reports in a sections of media that the old banknotes of Rs 100, 10 and 5 denoinations would be demonetised by March-April, the Reserve Bank of India (RBI) on Monday issued an official statement. The Reserve Bank of India categorically termed such reports as ‘incorrect.’ In a tweet, the RBI said, “With regard […]
Bhubaneswar: The Reserve Bank of India (RBI) on Friday cautioned people not to fall prey to companies/ firms offering loans online or through mobile apps. In a statement, the RBI has advised people to be remain alert regarding such unscrupulous activities and verify the antecedents of such companies. According to RBI, legitimate public lending activities […]
Bhubaneswar: The real-time gross settlement (RTGS) payment system will be available round the clock from December 14, the Reserve Bank Of India (RBI) said on Friday. The RTGS System, which is used for high value transactions, will be available for customers and inter-bank transactions round the clock, except for the interval between ‘end-of-day’ and ‘start-of-day’ […]
Mumbai: The Indian economy has exhibited stronger pick up in momentum of recovery than expected, said Reserve Bank of India Governor Shaktikanta Das on Thursday. Addressing the 4th Annual Day of Foreign Exchange Dealers’ Association of India (FEDAI), he cited that a multi-speed normalisation of activity in Q2FY21, after the country witnessed a sharp contraction […]
Mumbai: The Reserve Bank of India’s (RBI) Twitter handle achieved 1 million followers on Sunday, turning it the first central bank in the world to achieve the feat. Taking to Twitter, RBI Governor, Shaktikanta Das wrote: “RBI Twitter account reaches one million followers today. A new milestone. Congratulations to all my colleagues in RBI.” RBI […]
Mumbai: The Reserve Bank of India will restore trading hours for currency and bond markets in a phased manner from November 9. The RBI on Monday notified that market activities including the sales and purchase of G-secs will commence by 10 a.m. and end at 3.30 p.m. from November 9. The trading hours for various […]
Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday said that he has tested positive of novel coronavirus infection. Das, however, said that he is asymptomatic and is feeling alright. #BreakingNews: RBI Governor Shaktikanta Das tests positive for #Covid19; says he is asymptomatic (PTI) pic.twitter.com/Rj4ySJrhqN — OTV (@otvnews) October 25, 2020 “I have […]
Mumbai: In order to promote the housing sector, Reserve Bank of India on Friday decided to rationalise risk weightage on housing loans, making the product attractive for both borrower and lenders. With revision in the risk weightage, the requirement of capital provision for banks will come down. This will encourage banks to push housing loan […]
Mumbai: Maintaining status quo for the second time in a row, Reserve Bank of India on Friday decided to keep benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if the need arises to support the economy hit by the COVID-19 crisis. The benchmark […]
New Delhi: The Centre on Wednesday appointed M. Rajeshwar Rao as the Deputy Governor of the Reserve Bank of India (RBI). Rao is currently an Executive Director with the central bank. “The Appointments Committee of the Cabinet has approved the appointment of M. Rajeshwar Rao, Executive Director, Reserve Bank of India to the post of […]
Mumbai: The Reserve Bank of India (RBI) on Monday announced additional steps to ensure orderly market conditions and congenial financial conditions, including conducting a special open market operation and a repo term operation. In a statement, the RBI said that recently, market sentiments had been impacted by concerns relating to the inflation outlook and the […]
Bhubaneswar: In view of COVID-19 crisis, the All Odisha Bus Owners’ Association on Monday requested the Reserve Bank of India (RBI) to defer EMIs and waive off interest for bus owners in the State for one year. In a letter, the association requested RBI Governor Shaktikanta Das to ask all the banks in the State […]
Mumbai: The Reserve Bank of India (RBI) Board on Friday approved the transfer of Rs 57,128 crore surplus to the Central government for FY20. The decision was taken at the 584th meeting of the Central Board under the chairmanship of RBI Governor Shaktikanta Das, through video conference. The Board reviewed the current economic situation, continued […]
New Delhi: RBI Governor Shaktikanta Das on Monday assured the industry that the central bank was closely monitoring the economic situation and will not hesitate to take appropriate action, as he underlined the need for stepping up investment in the infrastructure sector to reignite growth hit by the COVID-19 crisis. Addressing members of industry chamber […]
Mumbai: The Reserve Bank of India has come up with a discussion paper on governance in commercial banks, whereby it has proposed to limit the term of a bank promoter to hold the position of a CEO or whole-time director. According to the RBI paper, a promoter or major shareholder of a bank may continue […]
Mumbai: To mitigate the economic impact of COVID-19 outbreak, the Reserve Bank of India (RBI) on Friday again reduced the key lending rates by 40 basis points. Accordingly, the Monetary Policy Committee of the central bank in an unscheduled meet reduced the repo rate by 40 basis points to 4 per cent from 4.40 per […]
Mumbai: Indian banks have technically written off a staggering amount of Rs 68,607 crore due from 50 top wilful defaulters, including absconding diamantaire Mehul Choksi, as per a reply under RTI from the Reserve Bank of India (RBI). Prominent RTI activist Saket Gokhale had filed an RTI query with the RBI seeking details of the […]
Mumbai: The Reserve Bank of India on Monday announced a Rs 50,000 crore special liquidity facility for mutual fund, days after Franklin Templeton Mutual Fund decided to close six debt schemes. In a statement, the central bank said heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), […]
Mumbai: To mitigate the impact of economic fallout on financial liquidity due to COVID-19 pandemic, the Reserve Bank of India on Friday announced a set of new measures including a reduction in reverse repo rate. Accordingly, the rate now stands at 3.75 per cent of Liquidity Adjustment Facility (LAF). The reverse repo is an important […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Mumbai: Troubled private sector lender Yes Bank was placed under a “moratorium” on late Thursday, with the RBI capping depositor withdrawals at Rs 50,000 per account for a month and superseding the board with immediate effect. The Reserve Bank of India (RBI) took the decision in consultation with the government to protect depositors’ interest. The […]
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