Tag: Reserve Bank of India

Banks technically write off over Rs 68,000 crore loans, Mehul Choksi among 50 top wilful defaulters: RTI

NEW DELHI: Indian banks have technically written off a staggering amount of Rs 68,607 crore due from 50 top wilful defaulters, including absconding diamantaire Mehul Choksi, according to a reply under RTI from the Reserve Bank of India (RBI). Prominent RTI activist Saket Gokhale had filed an RTI query with the RBI seeking details of […]

Public Sector Banks reported Rs 95,700 crore worth of frauds in April- September

NEW DELHI: Government owned banks reported frauds of over Rs 95,700 crore in the first six months of the current fiscal, the Parliament was informed on Tuesday. “According to Reserve Bank of India (RBI), frauds as per year of reporting, as reported by Public Sector Banks (PSBs), during the period from April 1, 2019 to […]

RBI rate decision, macro data to steer markets in holiday-shortened week

NEW DELHI: The Reserve Bank of India’s (RBI) interest rate decision, macroeconomic data points and global cues would be the key driving factors for the equity market in the holiday-shortened week ahead, say analysts. Markets would remain closed on Wednesday for ‘Mahatma Gandhi Jayanti’. “Markets are expected to consolidate further with the bias on the […]

RBI allows coop bank PMC customers to withdraw Rs 10,000

NEW DELHI: In a relief to the harried customers of crisis-hit Punjab & Maharashtra Cooperative Bank, the Reserve Bank of India (RBI) on Thursday increased the cash withdrawal limit to Rs 10,000 per account, which will help over 60 percent customers of the crippled lender. The RBI had Tuesday imposed a slew of restrictions on […]

Experience more relevant than what you learnt 35-40 years ago: RBI governor

NEW DELHI: Shaktikanta Das has played down many jokes and spoofs about his history background soon after his surprise appointment as the 25th governor of the Reserve Bank of India last December after the “protest” resignation of Urjit Patel. Academic qualification of the head of the central bank is not relevant, but what matters is […]

RBI proposes Rs 200 crore minimum capital for small banks under ‘on tap’ licence regime

NEW DELHI: The Reserve Bank of India (RBI) on Friday proposed a minimum equity capital of Rs 200 crore to set up a small finance bank (SFB) under the ‘on tap’ licence regime to expand the banking services through high technology-low cost operations. Releasing the draft guidelines for ‘on tap’ licensing of SFBs in the […]

RBI Monetary Policy: NBFCs can now on-lend to the priority sector through banks

NEW DELHI: “The fourth straight cut in the benchmark repo rate is a welcome step which will make borrowings cheaper and would help boost in demand in several sectors like real estate and auto which has been sagging since last several quarters,” said Niranjan Hiranandani, President NAREDCO. “It would also help in bringing about some balance between […]

RBI cuts key rate by 35 bps to boost economic activity, lowest since April 2010

NEW DELHI: The Reserve Bank of India (RBI) on Wednesday cut key interest rate for the fourth consecutive time, as it reduces repo rate by 35 basis points to 5.40 per cent to boost the slowing economy. The repo rate is lowest since April 2010. The six-member monetary policy committee (MPC) also maintained the accommodative […]

Reserve Bank of India fines HDFC Bank Rs 1 crore for violation of KYC norms

NEW DELHI: Reserve Bank of India (RBI) on Tuesday fined country’s largest private sector lender HDFC Bank Rs 1 crore for not reporting frauds and non-compliance with other directions. The fine pertains to submission of forged bill of entries (BoEs) by certain importers to HDFC Bank for remittance of foreign currency, the RBI said. “Examination […]

More measures needed to increase liquidity: Niranjan Hiranandani

NEW DELHI: A 25 basis point rate cut by the Reserve Bank of India (RBI) would provide momentum to the market, but more needs to be done to address the issue of liquidity, stated Niranjan Hiranandani, President National Real Estate Development Council (NAREDCO) and co-founder and managing director of Hiranandani Group. The lending rate now […]

RBI alters large exposures framework for banks to cut concentration of risk

NEW DELHI: The Reserve Bank of India (RBI) on Monday modified the guidelines on large exposures for banks with a view to reduce concentration of risk and align them with the global norms. The modified ‘Large Exposures Framework’ (LEF) provides exclusion of entities connected with the sovereign from definition of group of connected counter-parties. It […]

Meeting of the 15th Finance Commission with the Reserve Bank of India

NEW DELHI: The 15th Finance Commission headed by Chairman, N.K. Singh today held a detailed meeting with the Governor and Deputy Governors of RBI in Mumbai today. Key issues raised by RBI Governor, Shaktikanta Das and Finance Commission Chairman, Singh were discussed in detail at the meeting. These issues included the following:– · The necessity […]

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