Supreme Court notice to RBI on pleas seeking contempt proceedings for violating RTI
NEW DELHI: The Supreme Court of India on Friday sought RBI’s response on two pleas seeking contempt proceedings against the central bank and its former Governor Urjit Patel for non-disclosure of information under RTI about some banks. A bench headed by Justice L N Rao issued the notice to the Reserve Bank of India (RBI) […]
RBI defers capital buffer norms by a year, leaves Rs 37,000 crore in hands of banks
NEW DELHI: The Reserve Bank of India (RBI) on Thursday deferred the implementation of the last tranche of the capital conservation buffer (CCB) by a year, a move that would leave about an estimated Rs 37,000 crore in the hands of banks. This would help banks increase lending by over Rs 3.5 lakh crore. “It […]
Home prices eased in last 5 years despite better housing credit growth: RBI
NEW DELHI: Despite higher housing credit growth and better bank lending rates, house prices in the country have been cooling in the last five years, a Reserve Bank of India (RBI) report said. According to the Financial Stability Report released by the RBI Monday, the all-India housing price index reduced to 5.3 per cent during […]
RBI launches survey to capture retail payment habits in 6 cities
NEW DELHI: The Reserve Bank of India (RBI) will capture payment habits of individuals in six cities, including four metropolitan towns. For the purpose, the central bank has launched a ‘Survey on Retail Payment Habits of Individuals (SRPHi)’. The survey will cover a sample of 6,000 individuals from various socio-economic backgrounds across six cities — […]
RBI to soon release new Rs 20 bank note
NEW DELHI: The Reserve Bank of India (RBI) will soon introduce a new Rs 20 currency note with additional features, according to a document of the central bank. The central bank has already issued new look currency notes in the denominations of Rs 10, Rs 50, Rs 100, and Rs 500, besides introducing Rs 200 […]
Demonetisation: Data on printing of Rs 2000, Rs 500 notes should be disclosed, says CIC
NEW DELHI: The note printing subsidiary of the Reserve Bank of India (RBI) has failed to explain how disclosure of data on Rs 2000 notes and Rs 500 notes printed after demonetisation will affect economic interests of the state, the Central Information Commission (CIC) has noted ordering its disclosure. The Bhartiya Reserve Bank Note Mudran […]
RBI’s forex reserves marginally up to $393.734 billion
NEW DELHI: India’s foreign exchange reserves increased by $ 16.6 million to $393.734 billion in the week to 7 December, mainly due to a rise in foreign currency assets, according to the Reserve Bank of India (RBI) data. In the previous week, the reserves had increased by $932.8 million to $393.718 billion. In the reporting […]
RBI’s solution for MSME loan woes: Public credit registry
NEW DELHI: The Reserve Bank of India (RBI) preferred fundamental changes to smoothen loan flow to micro-businesses through a public credit registry, rather than doling out forbearances, deputy governor Viral Acharya said on Saturday. The statement comes almost a month after the central board “advised” the monetary authority to consider a restructuring scheme for loans […]
Arun Jaitley says government respects autonomy, independence of RBI
NEW DELHI: Finance minister Arun Jaitley on Friday said the government respects the autonomy and independence of the Reserve Bank of India (RBI) and raising credit and liquidity issues do not infringe on the central bank’s autonomy. “If the sovereign government is pointing out that there are credit and liquidity issues in the country, how […]
RBI slaps Rs 1 crore fine on Indian Bank for violating cyber security norms
NEW DELHI: The Reserve Bank of India (RBI) on Tuesday said it has imposed a fine of Rs 1 crore on Indian Bank for violating cyber security norms. The RBI has imposed, by an order dated November 30, 2018, a monetary penalty of Rs 10 million on Indian Bank for contravention of Circular on Cyber […]
Shaktikanta Das named new RBI Governor
NEW DELHI: Former bureaucrat Shaktikanta Das on Tuesday was appointed the new governor of the Reserve Bank of India (RBI), a government statement said. He replaces Urjit Patel, who surprisingly resigned from the central bank on Monday. A former civil servant, Das is also a member of the 15th Finance Commission. Das, who retired as […]
Urjit Patel resigns as RBI Governor
NEW DELHI: Reserve Bank of India (RBI) Governor Urjit Patel, who had a run in with the government over autonomy of the central bank, Monday resigned from his post. In a brief statement, Patel said he has decided to step down with immediate effect. He, however, did not specify the reason for the decision. Patel […]
RBI likely to keep interest rate unchanged on 5 December
NEW DELHI: The Reserve Bank of India (RBI) is likely to maintain status-quo on interest rate in the upcoming monetary policy review on December 5 despite moderation in economic growth and easing inflation, opined experts. After back-to-back hikes since June, the RBI had kept interest rates unchanged in the previous policy review in October, surprising […]
A strong balance sheet essential for credibility of RBI: Fitch
NEW DELHI: Pitching for a strong balance sheet for the Reserve Bank of India (RBI) , Fitch Ratings said it was essential to ensure independence and credibility of the central bank. The RBI board last month decided to set an expert committee to decide the economic capital framework of the RBI to determine the appropriate […]
WhatsApp seeks RBI nod to expand payment services to all users
NEW DELHI: WhatsApp Chief has written to the Reserve Bank of India (RBI), seeking a formal nod to expand payments services to all its 200 million users in India. The messaging app, which has drawn fire from the government over spread of fake messages on its platform, continues to wait for a regulatory clearance to […]
RBI may hold the rates baton till March
MUMBAI: The Reserve Bank of India (RBI) will hold the rates for the remainder of the fiscal year ending March 2019 and is likely to go for “measured hikes” in FY20 as inflation inches up, Singaporean lender DBS has said. Decision on rates will be majorly influenced by the movement in oil prices and also […]