Tag: Reserve Bank Of India

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: 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: 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 […]

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 (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 […]

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) 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 […]

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: 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 […]

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: 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: 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: 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 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 […]

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’ […]