Tag: RBI

Banks given liquidity facility of Rs 50,000 crore to improve access to emergency health services

NEW DELHI: The RBI Governor Shaktikanta Das has announced a series of measures to support the nation’s fight against the second wave of COVID-19 infections. “Alleviating any constraint from the financing side for all stakeholders – government, hospitals and dispensaries, pharmacies, vaccine/medicine manufacturers/importers, medical oxygen manufacturers/suppliers, private operators engaged in the critical healthcare supply chain, […]

RBI deputy governor BP Kanungo retires after completing 1-year extension

NEW DELHI: Against expectations of getting a second extension, the senior-most deputy governor BP Kanungo retired from the Reserve Bank of India  (RBI) on completion of his one-year extension on Friday. Kanungo joined the RBI in 1982 and was in charge of currency management, external investments, operations, payment, and settlement system, among others, during the […]

RBI keeps policy rate unchanged fourth time in a row

NEW DELHI: Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic. The benchmark repurchase (repo) rate has been left unchanged at 4 per […]

Prioritise spending, boost infrastructure, sell PSUs: Raghuram Rajan on Budget

NEW DELHI: Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. The upcoming Budget for the fiscal year beginning April 1 should look to […]

Inflationary woes: RBI retains rates, maintains accommodative stance

NEW DELHI: The Reserve Bank of India (RBI) on Friday retained its key short-term lending rates to subdue the unabatedly high inflation rate. However, the Monetary Policy Committee (MPC) of the central bank maintained the growth-oriented accommodative stance, thus opening up possibilities for more future rate cuts. Resultantly, MPC voted to maintain the repo rate […]

RBI should let rupee appreciate to reduce imported inflation: SBI Ecowrap report

NEW DELHI: The Reserve Bank of India (RBI) should let rupee appreciate to reduce imported inflation, a SBI Ecowrap report said on Wednesday. According to the report, the US dollar is expected to remain weak due to fragile US economic conditions. “It would do no harm for the RBI to lean with the wind and […]

RBI’s MPC may keep rates steady in next policy review: Barclays

NEW DELHI: The Central bank is best served by maintaining the policy approach outlined in the October statement, even as it likely acknowledges some optimistic turn in growth indicators and sticky inflation, investment banker Barclays said on Wednesday ahead of the Monetary Policy Committee (MPC) policy review early next month. “We expect the Reserve Bank […]

RSS body accuses RBI of favouritism, backdoor entry and snubbing due process

NEW DELHI: A week after the Reserve Bank of India (RBI) decided to palm off the 94-year-old Tamil Nadu-based Lakshmi Vilas Bank (LVB) free of cost, the issue has taken a political turn. On November 17, the RBI had proposed a draft scheme of amalgamation of the beleaguered Lakshmi Vilas Bank with DBS Bank India […]

As bank failures mount, RBI decision on new bank licenses could be controversial: Macquarie

NEW DELHI: At a time when bank failures are increasing in India, the decision to distribute licenses could be controversial. As per a report by Macquarie Research, the RBI just released an internal working group (IWG) report to review ownership guidelines and corporate structure for private sector banks. “While the arguably bold recommendations suggest NBFCs […]

RBI Twitter handle joins million followers club, first central bank in world to reach this milestone

  NEW DELHI: With one million Twitter followers, the Reserve Bank of India (RBI) has become the first central bank in the world to reach this milestone. The Reserve Bank of India (RBI) has beaten the US Federal Reserve and European Central Bank on Twitter by emerging as the most popular central bank on the […]

RBI curbs withdrawals from Jalna-based Mantha Urban Coop Bank for 6 months

NEW DELHI: Reserve Bank of India  (RBI) on Tuesday imposed restrictions on withdrawals from Maharashtra-based Mantha Urban Cooperative Bank for six months. The RBI, in a release, said it has issued certain directions to Mantha Urban Cooperative Bank, Mantha District Jalna, Maharashtra, from the close of business on November 17, 2020. As per the directions, […]

Probe all officials, including of RBI, on Lakshmi Vilas Bank watch: AIBEA

By Venkatachari Jagannathan CHENNAI: India’s Finance Minister Nirmala Sitharaman should intervene in the Lakshmi Vilas Bank (LVB) issue and announce that it would be amalgamated with a public sector bank, the All India Bank Employees’ Association (AIBEA) said on Tuesday. The AIBEA also said that the Reserve Bank of India (RBI) cannot simply wash its […]

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