Tag: Reserve Bank Of India

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 […]

Mumbai: Investors’ sentiment turned positive ahead of the RBI monetary policy committee (MPC) outcome on Wednesday that helped the key Indian equity indices trade higher. The 30-scrip Sensitive Index (Sensex) was trading 102.57 points or 0.29 per cent higher. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 33.40 points or 0.32 […]

Mumbai: The Securities and Exchange Board of India (SEBI) on Friday proposed higher regulatory requirement in terms of ownership, governance and certain additional standards of essential accountability “Credit Rating Agencies, Registrar to an Issue and Share Transfer Agents and Debenture Trustees”. According to SEBI, the changes have been proposed by its committee under the Chairmanship […]

Mumbai: All payment system players in India will now be required to store data within the country to ensure its safety and security, the Reserve Bank of India (RBI) announced on Thursday. Payment system operators will be given six months to comply with the directive, RBI Deputy Governor B.P. Kanungo said at a media briefing […]

Mumbai: Reserve Bank of India’s (RBI) Deputy Governor Viral Acharya has suggested that banks, asset reconstruction companies and credit rating agencies can come together to set-up an online platform for sale of NPAs (non-performing assets) in India. According to Acharya, the platform will help India achieve a “thriving market” for sale of NPAs. “IBA (Indian […]

New Delhi: In view of spate of cash van robberies across the country earlier, the Union Home Ministry has proposed a new draft standard operating procedures (SOP) for replenishing ATMs, setting a deadline for 9 p.m. in urban areas, 6 p.m. in rural areas and 4 p.m. in Maoist-affected areas, an official said on Thursday. […]

Mumbai: In its penultimate monetary policy review of the fiscal, the Reserve Bank of India (RBI) on Wednesday maintained status quo on its key lending rates citing concerns over the rising trajectory of inflation. The central bank said its repurchase rate, or the short-term lending rate for commercial banks, has been maintained at 6 per […]

Mumbai: The Reserve Bank of India (RBI) on Tuesday advised commercial banks to “immediately” pay interest due on the Gold Monetisation Scheme (GMS), 2015. “It has been decided that reimbursement of payments made by banks, relating to Medium and Long Term Government Deposit (MLTGD), will be made by Central Account Section (CAS), Nagpur, RBI. Accordingly, […]

Mumbai: The Reserve Bank of India (RBI) is expected to keep its key interest rate unchanged in its next monetary policy review on Wednesday, in view of the consumer price index (CPI) inflation in August shooting up to 3.36 per cent, according to latest official data. While core inflation in August rose to 4.6 per […]

New Delhi: The Reserve Bank of India (RBI) on Friday announced that it will sell government securities worth Rs 10,000 crore through open market operations (OMO). “Based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank has decided to conduct sale of government securities under OMO for an aggregate amount of […]

Mumbai: India’s total external debt for the end-June quarter 2017 rose to $485.8 billion, from $471.9 billion reported for the end-March period, official data showed on Friday. However, on a year-on-year (YoY) basis the debt level increased by 1.29 per cent over the corresponding period of the previous fiscal. “At end-June 2017, India’s external debt […]