Tag: Reserve Bank Of India

The Reserve Bank on Wednesday decided to withdraw all currency notes issued prior to 2005, including Rs 500 and Rs 1,000 denominations, after March 31 in a move apparently aimed at curbing black money and fake currencies

Mumbai: Reserve Bank of India Governor Raghuram Rajan has been named "Governor of the Year" by British magazine Central Banking.

The Reserve Bank of India (RBI) vide its guidelines issued on April 6, 2018 on ‘Cash Management activities of the banks – Standards for engaging the Service Provider and its sub-contractor’, advised banks to put in place certain minimum standards in their arrangements with the service providers for cash management related activities. The guidelines, inter […]

Kolkata: State-run Allahabad Bank on Wednesday announced a net loss of Rs 732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs 1,263.79 crore reported for year ago period. The lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India (RBI), had reported a net […]

Kolkata: State-run Allahabad Bank on Wednesday announced a net loss of Rs 732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs 1,263.79 crore reported for year ago period. The lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India (RBI), had reported a net […]

Mumbai: The Reserve Bank of India (RBI) has imposed separate monetary penalties on lenders Allahabad Bank and Corporation Bank over deficiencies in complying with various regulatory norms. In a regulatory filing to the BSE on Friday, the Allahabad Bank said that the RBI has imposed a penalty of Rs 1.5 crore “for not monitoring the […]

Mumbai: Former Reserve Bank of India (RBI) Governor Raghuram Rajan has been chosen for the ‘Yashwantrao Chavan National Award 2018’ for his contribution towards economic development. Rajan will be presented the award at a function here on March 12 on the occasion of 106th birth anniversary of late Yashwantrao Chavan, who was the first chief […]

Mumbai: India’s current account deficit (CAD) widened to $16.9 billion during the third quarter of 2018-19 from $13.7 billion reported in the corresponding period of 2017-18, the Reserve Bank of India (RBI) data showed on Friday. However, on a sequential basis, the Q3 CAD moderated from a higher level of $19.1 billion reported in the […]

Mumbai: The Reserve Bank of India Thursday cut benchmark interest rate by 0.25 per cent for the second time in a row to bring interest rate to the lowest level in one year on softening inflation. The central bank, however, kept monetary policy stance at ‘neutral’. In the second policy review under Governor Shaktikanta Das, the […]

Mumbai: Within days of the Reserve Bank of India (RBI) lowering its key lending rate, state-run State Bank of India (SBI) on Tuesday reduced its benchmark marginal cost of funds based lending rate (MCLR) and home loan rates, effective from April 10. SBI reduced its MCLR by 5 basis points (0.05 per cent) across all […]

Washington: RBI Governor Shaktikanta Das on Friday proposed to his peers on the sidelines of an International Monetory Fund (IMF) event here that the monetary policy can be well served by calibrating the size of the policy rate, instead of the 25 basis points (bps) unit. Das said that “if the unit of 25 basis […]

New Delhi: Reserve Bank of India (RBI) has tossed its hat in the ring for the taking over of Air Indias iconic tower at Nariman Point in Mumbai. The central bank is learnt to have offered 10 years’ lease rental as advance payment, a top reliable source told IANS . “The RBI wants to take the […]

Mumbai: Further addressing the liquidity concerns in the country, the Reserve Bank of India on Tuesday said it will buy government securities worth Rs 25,000 crore next month through two auctions of Rs 12,500 crore each. Open market operations (OMOs) are conducted by the RBI by sale or purchase of government securities (g-secs) to regulate money […]

New Delhi: The Delhi High Court on Wednesday asked the Reserve Bank of India (RBI) to file reply on a plea complaining that Central Bank of India, the public sector lender, has disbursed the housing loan without linking it to the stages of construction for a under-construction greenfield housing project. A Bench of Chief Justice […]

With an aim to ensure that ATM-cum-debit and credit cardholders do not fall prey to frauds, the Reserve Bank of India (RBI) has asked all banks in the country to replace the old magnetic strip cards with the new EMV chip-based debit and credit cards. As per the RBI guidelines, the banks need to provide […]