RBI likely to maintain status quo on policy rates: report
NEW DELHI: The Reserve Bank of India (RBI) is expected to keep the key policy rates unchanged at its ensuing policy review meet next month, amid easing global crude oil prices and robust agriculture production, says a report. According to Dun & Bradstreet Economy forecast, the robust agriculture production and softening of vegetables and fruits […]
Narendra Modi government wants to ‘capture’ RBI’s reserves: Chidambaram
NEW DELHI: Ahead of Reserve Bank of India (RBI) Board meeting, Congress leader P Chidambaram on Sunday alleged that the Narendra Modi government was determined to “capture” the bank to gain control over its Rs 9 trillion reserves. In a series of tweets, the former finance minister also claimed that the government and the Reserve […]
‘New RBI window may not increase credit to NBFCs’
NEW DELHI: The partial credit enhancement (PCE)facility by the Reserve Bank of India’s (RBI) for non-bank lenders is unlikely to have the desired impact of increasing credit flow to the troubled sector, a report said on Friday. On November 2, RBI had allowed banks to provide PCE for debt raised by non-deposit-taking systematically important non-banking […]
Gurumurthy says RBI should aid lending to small businesses
NEW DELHI: Ahead of next week’s crucial board meeting of Reserve Bank of India (RBI), the central bank’s independent director and Rashtriya Swayamsevak Sangh (RSS) ideologue S Gurumurthy on Thursday made a case for calibration of its massive Rs 9.6 lakh crore reserves, saying no central bank in the world maintains such high levels of […]
RBI to inject Rs 12,000 crore liquidity on 15 November
NEW DELHI: The Reserve Bank of India (RBI) on Tuesday announced it will inject Rs 12,000 crore into the system through purchase of government securities on 15 November. “Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the RBI has decided to conduct purchase of the following […]
Surplus, liquidity issues likely to rock RBI’s November 19 board meeting
NEW DELHI: The RBI’s board meeting on November 19 is expected to be a stormy affair in the backdrop of the ongoing tussle between the government and the central bank, sources said, adding that some members are likely to raise issues concerning capital framework, management of surplus and liquidity measures for MSMEs. Tensions between the […]
RBI vs Government: The 18 wise men tasked to supervise Mint Street
NEW DELHI: As an unprecedented fight plays out between the Reserve Bank of India (RBI) and the Narendra Modi government, it is the central bank’s 18 board members who are being keenly watched for their next course of action — they are not only central bankers and government officials but also business leaders, economists and […]
RBI cancels registration of 31 NBFCs
MUMBAI: The Reserve Bank of India (RBI) said that it has cancelled the certificate of registrations of as many as 31 non-banking finance companies (NBFCs) for unspecified reasons. It also cancelled the certificate of registrations of 17 NBFCs following a request by them for the same. The action comes amid difficulties faced by the NBFCs […]
India’s economic growth held back due to demonetisation, GST: Raghuram Rajan
By Lalit K Jha WASHINGTON: Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India’s economic growth last year, former RBI Governor Raghuram Rajan has said, asserting that the current seven per cent growth rate is not enough to meet the country’s needs. Addressing an audience at the […]
Government says not seeking massive reserve transfer from RBI, in talks for ‘capital framework’
NEW DELHI: Amid a face-off with the Reserve Bank of India (RBI), the government of India said it is discussing an “appropriate” size of capital reserves that the central bank must maintain but denied seeking a massive capital transfer from the Reserve Bank. The Reserve Bank of India (RBI) has a massive Rs 9.59 lakh […]
RBI kick-starts process to set up PCR for capturing details of borrowers
NEW DELHI: The Reserve Bank of India (RBI) has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies. The PCR will also include data from entities like market regulator Sebi, the […]
RBI clears re-appointment of Aditya Puri as HDFC Bank CEO for 2 years
NEW DELHI: HDFC Bank on Monday said the RBI had approved the re-appointment of Aditya Puri as managing director of the bank for another two years. “Reserve Bank of India, vide its letter dated October 22, 2018, has accorded its approval to HDFC Bank Ltd. for re-appointment of Aditya Puri, as MD & CEO of […]
RBI approves appointment of Sandeep Bakhshi as ICICI Bank MD, CEO
NEW DELHI: Private sector lender ICICI Bank said Reserve Bank of India (RBI) has approved Sandeep Bakhshi’s appointment as Managing Director and CEO of the bank for three years. After resignation of Chanda Kochhar, who was facing inquiry, earlier this month, the bank’s board had elevated Chief Operating Officer (COO) Bakhshi as the new managing […]
RBI announces more steps to increase credit flow to NBFCs
NEW DELHI: The Reserve Bank of India (RBI) on Friday announced more measures to increase liquidity flows to the non-banking financial companies. The RBI permitted banks to use government securities equal to their incremental outstanding credit to NBFCs, over and above their outstanding credit to them as on October 19, to be used to meet […]
RBI refuses more time to Rana Kapoor; tells Yes Bank to appoint new chief by February 1
NEW DELHI: Reserve Bank of India (RBI) on Wednesday refused to grant more time to Yes Bank’s long serving CEO and MD Rana Kapoor and asked the private sector lender to appoint his successor latest by February 1, 2019. Last month, the Yes Bank board had sought at least a three-month extension for Kapoor from […]
RBI keeps policy rate unchanged at 6.5% in surprise move
BY: Suvashree Dey Choudhury and Swati Bhat MUMBAI: The Reserve Bank of India (RBI) held its policy rate unchanged, surprising most analysts who had expected a rate increase to combat inflationary pressures arising from high oil prices and a weakening rupee. The monetary policy committee kept the repo rate unchanged at 6.50 percent on Friday, […]