Tag: Reserve Bank Of India

New Delhi: The Indian rupee is likely to continue its weak trend against the dollar due to a probable rise in volatility in the international financial markets. According to the Reserve Bank of India’s (RBI) Monetary Policy Report for October 2019, rising protectionism, slowdown in global trade may increase volatility in the financial markets. “The […]

Mumbai: The Reserve Bank of India on Wednesday rejected the merger of Lakshmi Vilas Bank and India Bulls Housing Finance Ltd, months after the bank had sought its approval on May 7. “The RBI vide their letter dated October 9, 2019, informed that the application for voluntary amalgamation of Indiabulls Housing Finance Ltd and Indiabulls […]

Mumbai: Equity benchmark BSE Sensex dropped over 150 points on Thursday tracking losses in banking stocks amid unabated foreign fund outflow. The 30-share index was trading 170.98 points, or 0.45 per cent, lower at 38,006.97 at 0930 hours. Similarly, the broader NSE Nifty fell 48.60 points, or 0.43 per cent, to 11,264.70. Top losers in […]

Mumbai: Indian banks’ credit growth rate, for the first time this fiscal, slowed to single digit at 8.8 per cent to Rs 97.71 lakh crore during the fortnight to September 27, according to the Reserve Bank of India supplementary data. During the same period, deposits climbed 9.4 per cent. Outstanding loans rose Rs 596.53 trillion […]

Mumbai: The Reserve Bank of India on Friday has changed the daily reporting system at cooperative banks after the collapse of Punjab and Maharashtra Cooperative Bank following the unearthing of over Rs 4,000 crore fraud there. In a circular addressed to chief executives of all cooperative banks, the RBI has asked them to replace the […]

Mumbai: Depositors of the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank held a protest outside the Reserve Bank of India (RBI) headquarters in south Mumbai on Saturday. The depositors gathered outside the RBI around 11.45 am and held protests by showing placards and chanting slogans against PMC Bank and the RBI, a police official said. […]

Jajpur: Police recovered the body of an RBI general manager from a hotel room in Odisha’s Jajpur district on Friday, the police said. The body of Asish Ranjan Samal, who is working as a general manager of the Guwahati branch of RBI, was found hanging from the ceiling fan in the hotel room. 52-year-old Samal […]

Mumbai: Invoking the famed ‘Sholay’ dialogue, “itna sannata kyun hai bhai”, the ruling ally Shiv Sena on Monday made a resounding critique on the economic slump which it said “is evident in the subdued Diwali celebrations this year”. Strategically ahead of the tough negotiations for forming the next government in Maharashtra, the Sena launched a […]

New Delhi: The Reserve Bank of India (RBI) on Tuesday imposed Rs 1 crore penalty on Bandhan Bank for non-compliance with promoter holding norms, contained in the licencing guidelines. Under the guidelines, the bank was required to bring down shareholding of its “non-operative financial holding company” to 40 per cent of its paid-up equity capital […]

Mumbai: In further relief to customers of scam-hit Punjab & Maharashtra Cooperative (PMC) Bank, the Reserve Bank on Tuesday enhanced the withdrawal limit to Rs 50,000 per account from Rs 40,000 earlier. In September, the RBI had put restrictions on PMC for six months and allowed depositors to withdraw up to Rs 1,000 of their […]

Mumbai: Domestic stock markets continued its ups and downs this week, albeit Sensex closed with a slight gain. However, Nifty remained below last week’s closing. The softening in Wholesale Price Index (WPI) has raised the possibility that the Reserve Bank of India (RBI) may cut key interest rates further, leading to a rebound in the […]

Ahmedabad/New Delhi: Reserve Bank of India Governor Shaktikanta Das on Saturday called for strong corporate governance culture and accountability in public sector banks (PSBs) to check ballooning non-performing assets (NPAs). “Many of the problems that currently seem to affect the PSBs such as the elevated levels of NPA, capital shortfalls, frauds and inadequate risk management […]

Mumbai: In a detailed affidavit filed before the Bombay High Court on Tuesday, the Reserve Bank of India (RBI) has virtually admitted that it was ‘cheated’ by the management of the scam-hit Punjab & Maharashtra Cooperative (PMC) Bank. The affidavit, filed by Rajlaxmi Sethi, Assistant General Manager, Department of Co-operative Bank Supervision, RBI, states that […]

New Delhi: The Reserve Bank may cut interest rates for the sixth straight time on December 5 to support growth that has continued to slip to more than six-year low on a slump in manufacturing, bankers and experts said. RBI has cut interest rates on every single occasion the multi-member monetary policy committee (MPC) has […]

New Delhi: Lower lending rates following a series of policy rate cuts by the Reserve Bank of India and a sharp cut in the corporate tax rates will spur a recovery in India next year, a report said on Monday. “The turnaround is likely to show up beginning in the October-December quarter, though largely because […]