Tag: Reserve Bank Of India

Mumbai: India’s foreign exchange (forex) reserves rose by $2.68 billion during the week ended January 4, official data showed on Friday. According to the Reserve Bank of India (RBI)’s weekly statistical supplement, the overall forex reserves increased to $396.08 billion from $393.40 billion reported for the week ended December 28. India’s forex reserves comprise Foreign […]

Mumbai: Yes Bank will submit names of the potential candidates for its Managing Director and Chief Executive post to the Reserve Bank of India (RBI) on Thursday. The bank in a regulatory filing after its Board meeting on Wednesday said that it has finalised the names which it will disclose only after RBI’s approval. According […]

Mumbai: The Reserve Bank of India (RBI) on Tuesday appointed Infosys co-founder Nandan Nilekani as the Chairman of a five-member committee to accelerate digitisation of the economy and boost financial inclusion. The committee will submit its report within 90 days from the date of its first meeting. “With a view to encouraging digitisation of payments […]

Mumbai: India’s foreign exchange (forex) reserves depleted by $613.9 million during the week ended December 14, official data showed on Friday. According to the Reserve Bank of India (RBI)’s weekly statistical supplement, the overall forex reserves decreased to $393.12 billion from $393.73 billion reported for the week ended December 7. India’s forex reserves comprise foreign […]

New Delhi: The Reserve Bank of India (RBI) Governor Urjit Patel resigned from his post on Monday with immediate effect, citing “personal reasons”, setting of a major crisis in India’s politico-economic sphere. Patel’s resignation comes in the backdrop of the ongoing tiff between the government and the central bank over the liquidity and credit crunch […]

New Delhi: Hundreds of Delhi Congress workers marched to the Reserve Bank of India office here on Friday on the occasion of the second anniversary of demonetisation, denouncing the great note-change exercise as “ill-fated” and “destructive” to the economy and the people of the country. Addressing party workers, Congress leader Ajay Maken said that Prime […]

Mumbai: The Reserve Bank of India (RBI) has reaffirmed that a successor to YES BANK’s MD and CEO Rana Kapoor should be appointed by February 1, 2019. The private lender had earlier said it will request RBI to extend Kapoor’s tenure up to minimum of April 30, 2019. According to a company’s filing on Wednesday, […]

Mumbai: The Reserve Bank of India’s (RBI) stance, along with an expected hike in the US lending rates and high crude oil prices are expected to further exert pressure on the Indian rupee in the coming week, experts say. In addition, the continuous outflow of foreign funds from the equity segment and global market volatility […]

Hyderabad: The Central government uses banks as a weapon to penetrate into jurisdiction of states, said former Reserve Bank of India (RBI) Governor Y.V. Reddy on Saturday. He said by controlling the banking system, the government of India is having access to extra budgetary resources or unaccountable resources to penetrate into the policies which it […]

New Delhi: A likely intervention by the country’s central bank along with expectations of some short-term measures in the upcoming monetary policy to curb currency fluctuations aided the Indian rupee to recover on Thursday from its new record low of 73.82 to a US dollar. The Indian rupee closed at 73.58 per US dollar, 24 […]

Mumbai: The Reserve Bank of India will ease the Statutory Liquidity Ratio (SLR) norms from October to induce liquidity into the financial system, amid concerns of a credit crunch. SLR is a reserve requirement that commercial banks must maintain. According to the RBI, “the increase in ‘Facility to Avail Liquidity for Liquidity Coverage Ratio’ (FALLCR), […]

Mumbai: The Reserve Bank of India (RBI) on Wednesday liberalised some aspects of the external commercial borrowings (ECBs) policy including those related to rupee-denominated bonds to help check rupee depreciation. “It has been decided to allow eligible ECB borrowers who are into manufacturing sector to raise ECB up to $50 million or its equivalent with […]

Mumbai: The Reserve Bank of India (RBI) should intervene in both spot and forward markets to arrest Indian rupee’s depreciation, suggested a State Bank of India (SBI) Ecowrap report on Tuesday. As per the report, during the June 2008 to May 2009 period, when rupee depreciated by 13 per cent, the RBI sold dollars worth […]

Mumbai: The Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore each on three public sector banks for non-compliance with its directions on “Fraud – Classification and Reporting”. According to the RBI, the penalty was imposed individually on all the three banks — Bank of Maharashtra, Bank of India, Union Bank […]

Mumbai: Over 99 per cent of the Rs 15.3 lakh crore taken out of circulation through demonetisation in November 2016 has returned to the Reserve Bank of India (RBI), the central bank announced on Wednesday. The RBI’s annual report 2017-18 said that on completion of the process of verification of the scrapped Rs 500 and […]