Coronavirus act of God which affected GST collections: Nirmala Sitharaman
Aug 27, 2020, at 11:48 pm
New Delhi/IBNS: Amid pressure from several states to compensate the revenue shortfall, Union Finance Minister Nirmala Sitharaman on Thursday said Novel Coronavirus is an act of God that has affected the Goods and Services Tax (GST).
RBI's one-time loan restructuring plan plugs the past gaps: Experts
Aug 27, 2020, at 03:37 am
Kolkata/IBNS: The current loan restructuring package by the Reserve Bank of India(RBI) with proper timelines mentioned in the guidelines has plugged all the gaps that were there previously, said Partha Pratim Sengupta, Managing Director & CEO, Indian Overseas Bank.
New measures to restructure loans by banks a 'durable' resolution says RBI Governor
Aug 25, 2020, at 04:25 am
Mumbai/IBNS: Ahead of the expiry of the six-month loan repayment freeze on August 31, Reserve Bank of India Governor Shakti Kanta Das in an interview to CNBC Awaz said the new measures introduced to enable the banks to restructure loans will provide a "durable" resolution to the businesses constrained for money due to Covid-19, save jobs and in turn revive the economy, said a Bloomberg report.
RBI keeps key rates unchanged after policy review
Aug 06, 2020, at 07:01 pm
Mumbai/UNI: Maintaining an accommodative stance, the Reserve Bank of India (RBI) on Thursday kept key rates unchanged.
HDFC gets new head, RBI approves Jagdishan as the bank MD and CEO
Aug 05, 2020, at 02:25 am
Mumbai/UNI: Private sector lender HDFC Bank said that RBI has approved the appointment of Sashidhar Jagdishan as MD and CEO of the Bank for three years from his date of taking charge, or from Oct 27, 2020, under Section 35B of the Banking Regulation Act 1949.”
RBI approves Jagdishan's appointment as HDFC Bank new MD, CEO
Aug 04, 2020, at 09:50 pm
Mumbai/UNI: Private Sector lender HDFC Bank said that RBI has approved the appointment of Sashidhar Jagdishan as MD & CEO of the Bank for three years from his date of taking charge, or from October 27 2020, under Section 35B of the Banking Regulation Act 1949.”
Jul 31, 2020, at 10:41 pm
New Delhi: Union Finance Minister Nirmala Sitharaman on Friday said that the government is working with RBI on the Industry’s need for the restructuring of loans due to the COVID-19 impact.
RBI predicts increase in gross NPAs of banks to 12.5 pc by March 2021
Jul 25, 2020, at 03:32 am
Mumbai/IBNS: The Reserve Bank of India released the Financial Stability Report (FSR) on Friday.
Economy showing signs of improvement but medium term outlook still uncertain: RBI Governor
Jul 11, 2020, at 08:35 pm
Mumbai/IBNS: RBI Governor Shakti Kanta Das has said the economy has started showing signs of improvement with the easing of over two months of strict lockdown but "a very careful trajectory" has to be followed after the pandemic is over.
RBI announces special liquidity scheme for NBFCs and HFCs through a SPV
Jul 01, 2020, at 05:16 pm
Mumbai/IBNS: In the bid to improve the liquidity position of the NBFCs and HFCs amid the sagging economic situation triggered by Covid-19 pandemic, the government has approved a special scheme to prevent potential systemic risk in the financial sector, the Reserve Bank said on Wednesday.
Reserve Bank of India doubles withdrawal limit of PMC Bank to Rs 1 lakh
Jun 20, 2020, at 04:46 pm
Mumbai/UNI: The Reserve Bank of India (RBI) has raised withdrawal limit from fraud-ridden Punjab and Maharashtra Cooperative (PMC) Bank to Rs one lakh from Rs 50,000 while extending restrictions imposed on the bank for another six months.
India's foreign exchange reserves soar amid Covid-19 pandemic
Jun 05, 2020, at 10:03 pm
Mumbai/IBNS: At a time when India is facing a fresh economic challenge triggered by coronavirus pandemic, the Reserve Bank of India said country's foreign exchange reserve has increased by USD 3.43 billion to a new all-time high of $493.48 billion for the week ended May 29 following handsome accumulation of the core currency assets.
RBI cuts repo rate of 40 basis points to 4 pc, term loan moratorium extended
May 22, 2020, at 11:52 am
Mumbai: The Reserve Bank of India on Friday announced a cut in the repo rate of 40 basis points to bring it down to 4 percent.
Indian Banks Association sends proposal to govt, RBI for setting up of 'Bad Bank'
May 12, 2020, at 11:01 pm
Mumbai/IBNS: Indian Banks Association (IBA) has sent a proposal to set up a 'Bad Bank' to the Finance Ministry and the Reserve Bank of India (RBI), said a CNBC-TV18 report. A Bad Bank is named so as it houses all bad loans or non-performing assets.
NBFCs meet RBI seeking restructuring of all loans : Report
May 05, 2020, at 12:13 am
Mumbai/IBNS: The Non Banking Financial Companies (NBFCs) have requested the Reserve Bank of India (RBI) to provide a one time restructuring of all loans in view of the current economic situation triggered by COVID-19 induced lockdown, a Money Control report said.
RBI announces Rs 50,000 crore special liquidity facility for Mutual Fund
Apr 27, 2020, at 10:19 am
New Delhi/IBNS: The Reserve Bank of India on Monday announced it has opened a special liquidity facility worth Rs 50,000 crore for Mutual Funds.
RBI cuts repo rate from 4 pct to 3.75 pct
Apr 17, 2020, at 10:38 am
New Delhi/IBNS: Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced reducing the reverse repo rate from 4 percent to 3.75 percent.
Growth outlook to be hit drastically by COVID-19 outbreak
Apr 10, 2020, at 07:15 pm
Mumbai/IBNS: The Reserve Bank of India has said the country's economic growth outlook has been hit drastically by the coronavirus outbreak, media reports said.
Greatest emergency since Independence: Former RBI Governor Raghuram Rajan over COVID-19 situation
Apr 06, 2020, at 04:15 pm
New Delhi/IBNS: Advising the Indian government to spend more on poor to manage the crisis caused by the Novel Coronavirus, former Reserve Bank of India (RBI) governor Raghuram Rajan has said the pandemic virus is the "greatest emergency since Independence".
RBI cuts down trading hours for domestic money markets amid lockdown
Apr 03, 2020, at 08:12 pm
Mumbai/IBNS: The money markets in India will now function 10 am to 2 pm from Apr 7 due to lower participation due to lockdown and social distancing, Reserve Bank of India (RBI) said on Friday.
India's corporate sector welcome's RBI repo rate cut amid COVID-19 outbreak
Mar 27, 2020, at 06:45 pm
Mumbai/IBNS: The Indian corporate sector has reacted positively to the Reserve Bank of India's decision to slash the repo rate by 75 basis points to 4.4 per cent.
RBI policy will ensure sufficient liquidity, says LIC HFL
Mar 27, 2020, at 06:02 pm
Bengaluru/UNI: MD & CEO of LIC HFL said RBI policy announced on Friday will ensure sufficient liquidity in the system at a time when anxious moments are around due to Covid 19 situation.
Standard Chartered Bank CEO hails RBI's cut down of interest rates
Mar 27, 2020, at 05:31 pm
New Delhi/UNI: Standard Chartered Bank CEO Zarin Daruwala on Friday hailed RBI's step to cut interest rates by 75 basis points to 4.4 per cent and said that the bold steps initiated by the Monetary Policy Committee should help financial markets tide over the current situation.
RBI measures will give 'much-desired relief', says Finance Minister Nirmala Sitharaman
Mar 27, 2020, at 04:33 pm
New Delhi/UNI: Finance Minister Nirmala Sitharaman on Friday welcomed the RBI announcement of massive 75 basis points cut in repo rates as a measure to counter the economic slowdown caused by the Covid-19 pandemic and maintained that three month moratorium on payments of term loan instalments and interest on working capital will give much-desired relief.
Repo rate slashed by 75 basis points to 4.4 percent: RBI Guv
Mar 27, 2020, at 10:24 am
Mumbai/IBNS: The Reserve Bank of India on Friday announced that repo rate has been slashed by 75 basis points to 4.4 percent.
Yes Bank crisis: CBI searches 7 locations, files FIR against 5 companies, Rana Kapoor's family
Mar 09, 2020, at 05:51 pm
Mumbai/IBNS: A day after CBI registered an FIR against Yes Bank founder and its former MD Rana Kapoor under charges of criminal conspiracy and cheating, the central investigating agency searched seven locations in connection with the Yes Bank scam case, media reports said.
Depositors money is safe in any bank: Reserve Bank of India
Mar 08, 2020, at 05:27 pm
Mumbai/IBNS: The Reserve Bank of India on Sunday assured that people should not panic as there is no such concern about safety of their deposits in any bank.
Yes Bank crisis: FM's assurance is right, depositors' money not at risk, says SBI chairman
Mar 07, 2020, at 11:11 am
Mumbai/New Delhi/IBNS: Amid the panic of the customers of crisis-hit Yes Bank, State Bank of India (SBI) chairman Rajnish Kumar on Saturday said the depositors' money was safe throwing weight behind the statement of Union Finance Minister Nirmala Sitharaman.
No clue about Yes Bank's crisis: Founder Rana Kapoor
Mar 06, 2020, at 07:45 pm
Mumbai/IBNS: Yes Bank founder and former MD Rana Kapoor has said he is unaware of the developments that led the Reserve Bank of India to impose moratorium on the private bank, an India Today report said.
Yes Bank update impacts fintech start ups and app based services
Mar 06, 2020, at 05:09 pm
Mumbai/IBNS: Several fintech startups and apps are facing problems in their operations after Yes Bank was put under moratorium by the Reserve Bank of India on Thursday.