Tag: Reserve Bank Of India

RBI asks payment system players to store data in India

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 […]

  • Wednesday, 07 July 2021
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Set-up online platform for NPA sales: RBI's Acharya

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 […]

  • Wednesday, 07 July 2021
Home Ministry sets new time deadline for ATM replenishment

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. […]

  • Tuesday, 06 July 2021
RBI keeps repo rate unchanged at 6 pc

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 […]

  • Tuesday, 06 July 2021
RBI orders banks to immediately pay interest under GMS

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, […]

  • Tuesday, 06 July 2021
RBI may opt for status quo on rates

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 […]

  • Tuesday, 06 July 2021
RBI to sell government securities worth Rs 10,000 cr

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 […]

  • Tuesday, 06 July 2021
India's external debt rises to $485.8 bn

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 […]

  • Tuesday, 06 July 2021
'Demonetisation's by-products could be valuable'

Kolkata: Reserve Bank of India’s former Deputy Governor S.S. Mundra, on Tuesday said that the “by-products” of demonetisation could be “more avaluable” than the main objective behind the move. “In case of certain manufacturing industry we see that the by-products are more valuable than the main products. This can be compared to demonetisation,” Mundra said […]

  • Tuesday, 06 July 2021
RBI adds HDFC among banks 'too big to fail' with SBI, ICICI

Mumbai: The Reserve Bank of India (RBI) on Monday announced it has added private lender HDFC Bank to its list of “domestic systemically important banks” (D-SIBs) considered too big to fail. “In addition to the SBI (State Bank of India) and ICICI Bank, which continue to be identified as Domestic Systemically Important Banks (D-SIBs), the […]

  • Tuesday, 06 July 2021
RBI to issue fluorescent blue Rs 50 note in new series

Mumbai: The Reserve Bank of India (RBI) on Friday said it will soon issue a Rs 50 currency note in Mahatma Gandhi (New) Series, which will be fluorescent blue in colour. The bank notes of Rs 50 denomination issued by the Reserve Bank in the earlier series will continue to be legal tender, the central […]

  • Monday, 05 July 2021
RBI rate cut necessary for sustained growth: DEA

New Delhi: Welcoming the 25 basis points cut in the repo rate by the Resxerve Bank of India, the Department of Economic Affairs (DEA) on Wednesday said the step was necessary to converge toward appropriate real monetary conditions for India’s sustained growth. “We have taken note of the statement of the MPC (Monetary Policy Committee) and […]

  • Monday, 05 July 2021
RBI expected to cut key interest rate on Wednesday

Mumbai: With latest macro-economic data showing inflation at a record low and fall in factory output, the Reserve Bank of India (RBI) is expected to reduce its repo, or short term lending rate, at its monetary policy review on Wednesday. At its second bi-monthly monetary policy review of the fiscal on June 7, the RBI […]

  • Monday, 05 July 2021
Government introduces Banking Regulation Bill

New Delhi: Finance Minister Arun Jaitley on Monday introduced a bill under which the Centre may authorise the Reserve Bank of India to direct banks to initiate recovery proceedings against loan defaulters. The Banking Regulation (Amendment) Bill will replace an ordinance that earlier enabled this. The recovery proceedings would be under the Insolvency and Bankruptcy Code, […]

  • Monday, 05 July 2021
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No plan to issue next list of defaulters any time soon: RBI

New Delhi: Following its identification of 12 accounts responsible for 25 per cent of the non-performing assets (NPAs) of banks in the country, the Reserve Bank of India (RBI) on Friday said it has no plan to come out with the next list any time soon. “If you look at it (NPAs), the RBI had […]

  • Monday, 05 July 2021
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