Tag: Reserve Bank Of India

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 […]

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 […]

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 […]

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 […]

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 […]

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, […]

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 […]

Mumbai: Belying hopes of both the government and India Inc., the Reserve Bank of India (RBI) — in its second bi-monthly monetary policy review of 2017-18 — on Wednesday kept its key lending rate unchanged at 6.25 per cent. However, to induce liquidity into the system, the RBI reduced by 50 basis points to 20 per […]

Mumbai: Indian firms’ external commercial borrowings (ECBs) in April went up more than three-fold to $1.30 billion, while ECBs were at $304.57 million in the same month of 2016, the Reserve Bank of India (RBI) has said. According to RBI data released here on Thursday, the borrowings by Indian companies in April this year included $1.27 […]

Mumbai: Outlining its plan to deal with the mounting problem of banks’ bad loans, the Reserve Bank of India (RBI) on Monday said it will reconstitute the oversight committee (OC) to operationalise the banking ordinance for resolving the issue of non-performing assets (NPAs). “It has been decided to reconstitute the OC under the aegis of […]

New Delhi: In wake of the ordinance promulgated on Friday empowering the Reserve Bank of India (RBI) to tackle bad loans, the central bank revised the guidelines in this regard and warned banks of monetary penalty if they fail to meet the timelines. “The Framework aims at early identification of stressed assets and timely implementation […]

New Delhi: The Delhi High Court on Friday dismissed the Reserve Bank of India’s application opposing the enforcement of an arbitral award in the Tata-NTT Docomo case. Justice S. Muralidhar cleared the way for enforcing the $1.17 billion arbitral award by the London Court of International Arbitration, to settle a two-year-old dispute between Tata and […]

New York: The titans at the commanding heights of the tech world owe their success to talent from across the globe, according to Reserve Bank of India Governor Urjit Patel, who pointed to what could be the Achilles heel of the ‘America First’ policy that seeks to restrict H1-B visas and imports. “Where would Apple […]

New Delhi: The Reserve Bank of India (RBI) is still calculating and taking stock of the currency that was returned to banks post demonetisation, Finance Minister Arun Jaitley said on Tuesday. In response to a question by Samajwadi Party leader Naresh Agarwal in the Rajya Sabha, Jaitley said that the RBI was taking stock of […]

New Delhi: As many as 826 housing projects are running behind schedule by an average of 39 months, with Punjab having the maximum delayed projects followed by Telangana and West Bengal, an Assocham study has found. “At the end of December 2016, 3,511 projects were live in construction and real estate sector, of which 2,304 […]