RBI's deputy governor Viral Acharya resigns
Jun 24, 2019, at 09:19 am
New Delhi, June 24 (IBNS): Viral Acharya, Reserve Bank of India’s (RBI’s) youngest deputy governor post-economic liberalisation, has resigned from his position, media reports said on Monday.
RBI governor Shakti Kanta Das meets Union Finance Minister Nirmala Sitharaman
Jun 19, 2019, at 05:04 pm
New Delhi, June 19 (IBNS): Reserve Bank of India Governor Shakti Kanta Das called on Union Finance Minister Nirmala Sitharaman on Wednesday.
Reserve Bank of India penalises Kotak Mahindra Bank for Rs 2 crore
Jun 10, 2019, at 05:38 pm
Mumbai, June 10 (UNI )The Reserve Bank of India (RBI) imposed a monetary penalty of Rs two crore on Kotak Mahindra Bank Limited for non-compliance, with the directions issued to the bank by RBI in exercise of its powers under Sections 27(2) and 35A of the Banking Regulation Act, 1949 (the Act), to furnish information specified therein.
Market welcomes RBI's decision to cut repo rate by 25 bps
Jun 06, 2019, at 04:34 pm
Mumbai, Jun 6 (IBNS): The Reserve Bank of India (RBI)'s decision to cut the repo rate by 25 basis points (bps) has received a good response from the market.
Loans could get cheaper as RBI cuts repo rate by 25 bps to 5.75 pc
Jun 06, 2019, at 01:00 pm
Mumbai, Jun 6 (UNI): Reserve Bank of India (RBI) on Thursday cut the repo rate by 25 basis points (bps) to 5.75 per cent with immediate effect in its second bi-monthly monetary policy, RBI Governor Shaktikanta Das said.
Jun 06, 2019, at 12:10 pm
Mumbai, Jun 6 (IBNS): For the third time in a row, the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points on Thursday, media reports said.
RBI to unveil new Rs. 20 currency notes
Apr 27, 2019, at 04:27 pm
Mumbai, Apr 27 (IBNS): The Reserve Bank of India on Saturday said it will unveil new Rs. 20 currency note.
Reserve Bank of India issues new Rs 50 bank notes with Governor 'Shaktikanta Das' signature
Apr 17, 2019, at 05:03 pm
Mumbai, Apr 17 (UNI) The Reserve Bank of India (RBI) issued Rs 50 denomination banknotes bearing the signature of Governor Shaktikanta Das.
RBI Governor Shaktikanta Das gives "out of the box" idea on policy rate changes
Apr 13, 2019, at 04:25 pm
Washington, Apr 13 (UNI) Reserve Bank of India Governor Shaktikanta Das has an "out of the box" idea that interest rate changes could be in terms of 10 basis points or 35 basis points so that central bank's response will not complicate its stance in a volatile situation.
RBI cuts Repo rates by 25 bps to 6 per cent, loans expected to get cheaper
Apr 04, 2019, at 01:11 pm
Mumbai, Apr 4 (UNI): The Reserve Bank of India on Thursday cut the repo rate by 25 basis points to 6 per cent.
RBI imposes penalty of Rs 2 cr on Allahabad Bank
Mar 05, 2019, at 03:30 pm
Mumbai, Mar 5 (UNI) Public Sector lender Allahabad Bank said that The Reserve Bank of India (RBI) has imposed a penalty of 2 crore on the Bank for non compliance of the RBI direction dated 20 February,
Karnataka Bank penalised for Rs 4 cr by RBI for non-compliance of directions
Mar 04, 2019, at 03:40 pm
New Delhi, Mar 4 (UNI) The Karnataka Bank on Monday said the lendor was imposed a fine of Rs 4 crore by the Reserve Bank of India for non-compliance of the central bank’s SWIFT directions.
RBI to pay Rs 28,000 crore interim dividend to govt
Feb 18, 2019, at 08:10 pm
New Delhi, Feb 18 (IBNS): The Reserve Bank of India has decided to transfer an interim surplus of Rs 28,000 crore to the central government for the half-year ended December 31, 2018.
What Are The Top FD Interest Rates Offered By Top Financiers?
Feb 15, 2019, at 11:57 am
Fixed deposits have been a top pick with investors for decades, and for good reason too. Their high degree of safety and promise of returns makes them an option you can truly count on. But it is important to know that while FD interest rates are not linked to the market, they are sensitive to fluctuations in the repo rate. For instance, in 2018 the RBI revised the repo rate thrice, and hiked it twice to bring it to the current 6.5%. The RBI does so primarily to curb inflation, in order to maintain liquidity in the economy.
RBI cuts lending rate by 0.25%, banks and corporates react positively
Feb 07, 2019, at 05:19 pm
New Delhi, Feb 7 (IBNS): The Reserve Bank of India (RBI) on Thursday cut repo rate- the rate at which the central bank lends money to commercial banks- by 25 basis points from 6.5 per cent to 6.25 per cent with immediate effect, evoking some positive responses from the corporate sector.
Loans may get cheaper as RBI cuts lending rate by 0.25%
Feb 07, 2019, at 12:39 pm
New Delhi, Feb 7 (IBNS): Lending rates and home loans could become cheaper with the Reserve Bank of India on Thursday reducing the repo rate by 25 basis points, or 0.25 per cent.
Infosys co-founder Nandan Nilekani to head Reserve Bank of India's committee on digital payments
Jan 08, 2019, at 04:24 pm
Mumbai, Jan 8 (IBNS): In a major move, the Reserve Bank of India on Tuesday appointed Infosys co-founder Nandan Nilekani as the chairman of a committee that will assess the digitisation of payments in India.
We believe liquidity needs are largely met: RBI Governor Shaktikanta Das
Jan 07, 2019, at 04:20 pm
Mumbai, Jan 7 (IBNS): RBI governor Shaktikanta Das on Monday said steps will be taken if there is a liquidity shortage in the economy.
Banks recover Rs. 40,400 cr of bad loans: RBI
Jan 01, 2019, at 01:21 pm
New Delhi, Jan 1 (IBNS): The Reserve Bank of India (RBI) has revealed that banks have witnessed a significant improvement in recovery of stressed assets aided by the Insolvency and Bankruptcy Code (IBC) during FY18.
Raghuram Rajan wants election manifestos devoid of farm loan waiver promise
Dec 15, 2018, at 01:30 pm
New Delhi, Dec 15 (IBNS): Former Reserve Bank of India (RBI) Governor Raghuram Rajan thinks promises of farm loan waivers should be abolished from election manifestos, media reports said.
BJP leader ridicules RBI governor over qualification
Dec 13, 2018, at 03:21 pm
New Delhi, Dec 13 (IBNS): A former Gujarat minister when Narendra Modi was chief minister has ridiculed the new Reserve Bank governor over his qualifications, reports said.
Reserve Bank of India keeps policy rates intact
Dec 05, 2018, at 04:53 pm
Mumbai, Dec 5 (IBNS): In a major move, the Reserve Bank of India on Wednesday kept its key lending rate for commercial banks unchanged at 6.5 percent.
Amid public rifts with Centre, RBI board meeting begins
Nov 19, 2018, at 10:55 am
New Delhi, Nov 19 (IBNS): Amid reports of rifts with the Centre, the Reserve Bank of India (RBI)'s board meeting began on Monday, media reports said.
Autonomy of Reserve Bank is 'essential', says Centre
Oct 31, 2018, at 03:45 pm
New Delhi, Oct 31 (IBNS): The Indian government on Wednesday said the autonomy for the Central Bank, within the framework of the RBI Act, is an essential and accepted governance requirement.
Reserve Bank of India keeps repo rate unchaged at 6.5
Oct 05, 2018, at 05:07 pm
New Delhi, Oct 5 (IBNS): The Monetary Policy Committee (MPC) in its fourth bi-monthly statement, issued on 05.10.2018, on the basis of an assessment of the current and evolving macroeconomic situation at its meeting on Friday, decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 per cent.
Over 99 percent of demonetised currency returned: RBI
Aug 29, 2018, at 04:50 pm
New Delhi, Aug 29 (IBNS): The Reserve Bank of India on Wednesday said that more than 99 percent of the old Rs. 500 and Rs. 1000 notes, which were banned by the Centre in 2016, have returned.
RBI to transfer Rs 50,000 crore surplus to Union government
Aug 08, 2018, at 07:34 pm
New Delhi, Aug 8 (IBNS): The Reserve Bank of India (RBI) on Wednesday said it has decided to pay a dividend of Rs 50,000 crore to the Union government.
E-commerce's Cash-on-Delivery mechanism not authorised
Jul 24, 2018, at 10:13 pm
New Delhi, July 24 (IBNS): The Reserve Bank of India (RBI) on Tuesday stated that the Cash-on-Delivery (COD) mechanism, on which maximum e-commerce purchases depend, is not authorised under Section 8 of the PSS (Payments and Settlements Systems) Act, 2007, media reports said.
MPC reiterates its commitment to achieve medium-term target for headline inflation of 4 per cent
Jun 06, 2018, at 03:50 pm
Mumbai, Jun 6 (IBNS): The Reserve Bank of India, on Wednesday, announced that on the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) decided to increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.25 per cent.
RBI hikes repo rate by 25 bps, first time in four and half years
Jun 06, 2018, at 03:28 pm
Mumbai, Jun 6 (IBNS): The monetary policy committee (MPC) of the Reserve Bank of India (RBI), headed by Governor Urjit Patel, on Wednesday, decided to hike the repo rate by 25 basis points, according to its Second Bi-monthly Monetary Policy Statement.