PNB urges its customers to update KYC details by mid-December
Dec 09, 2023, at 10:00 pm
New Delhi: Public sector lender Punjab National Bank (PNB) has asked its customers to update their Know Your Customer (KYC) information before December 18 to ensure the smooth functioning of their accounts, an official release said.
RBI increases GDP growth forecast for FY24 to 7% amid geopolitical turmoil
Dec 09, 2023, at 07:12 am
Mumbai: The GDP growth projection for 2023-24 has been increased to 7%, from the previous estimate of 6.5%, Reserve Bank of India (RBI) Governor Shaktikanta Das said During the Monetary Policy Committee meeting announcements on Friday.
India's foreign exchange reserves surge by $ 2.538 billion to $ 597.935 billion
Dec 09, 2023, at 05:51 am
Mumbai: India's foreign exchange reserves swelled by USD 2.538 billion, reaching USD 597.935 billion for the week ending November 24, according to the Reserve Bank.
RBI MPC keeps repo rate unchanged, raises FY24 growth forecast to 7%; Industry reacts
Dec 09, 2023, at 03:37 am
Mumbai: The Reserve Bank of India's Monetary Policy Committee (RBI MPC) kept the repo rate unchanged at 6.5 percent for the fifth time in a row on Friday, thus maintaining the status quo.
RBI raises UPI transaction limit for hospitals, educational institutions to Rs. 5 lakh
Dec 08, 2023, at 05:44 pm
New Delhi/IBNS/UNI: In a significant step, the Reserve Bank of India (RBI) on Friday announced the raise of the Unified Payments Interface (UPI) transaction limit for hospitals and educational institutions to Rs. 5 lakh, media reports said.
RBI's MPC meeting starts amid anticipations of status quo on key interest rate
Dec 07, 2023, at 06:34 am
Mumbai: As the Reserve Bank of India (RBI) commenced its three-day Monetary Policy Committee (MPC) on Wednesday, expectations are high that the Central bank will adhere to the current state of affairs regarding the repo rate, opting to retain it at 6.5%.
RBI cracks whip on peer-to-peer lenders over violation of rules and misselling: Report
Dec 06, 2023, at 07:42 am
Mumbai: The Reserve Bank of India has instructed peer-to-peer lending platforms to halt certain activities after inspections revealed violations of rules and deceptive sales practices, Reuters reported.
RBI and Bank of England sign MoU to end CCIL deadlock
Dec 02, 2023, at 05:22 am
Mumbai: The Reserve Bank of India and Bank of England Friday inked a memorandum of understanding (MoU) to end the imbroglio over British banks’ participation in Indian bonds and derivative market.
RBI takes over the board of Abhyudaya Cooperative Bank over governance concerns
Nov 25, 2023, at 05:01 am
Mumbai: The Reserve Bank of India (RBI) on Friday took over the board of Abhyudaya Cooperative Bank in Mumbai, citing major concerns regarding inadequate corporate governance standards, the central bank said in a statement.
RBI penalizes Citibank, BoB, and IOB for non-compliance with norms
Nov 25, 2023, at 04:57 am
Mumbai: The Reserve Bank of India (RBI) on Friday slapped monetary fines on Citibank, Bank of Baroda, and Indian Overseas Bank for violations of regulations.
Banking liquidity shortage widens to Rs 1.74 trillion
Nov 23, 2023, at 06:17 am
Mumbai: The liquidity deficit in India's banking system widened on Tuesday to its highest level in almost five years due to monthly goods and services tax payments.
RBI clears resolution plan for Reliance Capital
Nov 18, 2023, at 06:04 am
Mumbai: The Reserve Bank of India on Friday granted approval to the restructuring proposal for financially troubled Reliance Capital, paving the way for the acquisition of the company by IndusInd International Holdings Ltd (IIHL), a firm within the Hinduja Group.
India's forex reserves shrink by $462 million in the week ending Nov 10
Nov 18, 2023, at 05:23 am
Mumbai: India's foreign exchange reserves declined by $462 million to reach $590.321 billion for the week ending November 10, the Reserve Bank of India said on Friday.
RBI directs Bajaj Finance to stop lending under two lending products
Nov 16, 2023, at 02:43 am
Mumbai: The Reserve Bank of India (RBI) on Wednesday directed Bajaj Finance to stop issuing loans under its two products eCOM and Insta EMI Card.
ICICI Bank gets RBI's nod to make ICICI Securities wholly-owned subsidiary
Nov 10, 2023, at 03:41 am
Mumbai: ICICI Bank Thursday said it has received approval from the Reserve Bank of India to make ICICI Securities its wholly-owned subsidiary.
Shriram Capital seeks RBI nod for Asset Reconstruction Company license
Nov 08, 2023, at 08:19 pm
Mumbai: Shriram Capital has applied for an Asset Reconstruction Company (ARC) license from the Reserve Bank of India (RBI), Moneycontrol reported.
Nov 03, 2023, at 03:34 am
Bhubaneshwar: Over the past three to four days, a large number of people have been lining up outside the regional office of the Reserve Bank of India (RBI) in Bhubaneswar to swap Rs 2,000 notes, Indian Express reported.
Closely 'watching' high attrition rate in pvt banks: RBI Guv Shaktikanta Das
Nov 01, 2023, at 05:40 am
New Delhi: RBI Governor Shaktikanta Das on Tuesday commented on the high attrition rates observed in certain private sector banks, emphasising that the Central bank is closely monitoring this issue, a report in the media said.
RBI grants extension to Dipak Gupta as MD & CEO of Kotak Mahindra Bank
Oct 28, 2023, at 03:34 am
Mumbai: The Reserve Bank of India (RBI) has granted an extension to Dipak Gupta as the interim Managing Director and Chief Executive Officer (MD and CEO) of Kotak Mahindra Bank until December 31, 2023.
RBI planning to conduct open market sales of bonds
Oct 21, 2023, at 04:38 am
Mumbai: India's Central bank, the Reserve Bank of India (RBI), is planning to conduct open market sales of bonds once government spending increases and there is an improvement in durable liquidity surplus, Reuters reported.
RBI imposes Rs 8.50 lakh penalty on Bajaj Finance
Oct 14, 2023, at 02:47 am
Mumbai: The Reserve Bank of India (RBI) on Friday slapped a fine of Rs 8.50 lakh penalty on Bajaj Finance for violation of the rule pertaining to reporting of frauds.
India's retail inflation drops to 5 pc in Sept, below RBI's upper band
Oct 13, 2023, at 04:07 am
New Delhi: India's retail inflation measured by consumer price index (CPI) eased to 5.02% year-on-year in September 2023 from 6.83% in the previous month on the back of softening food prices, showed the data released by the Ministry of Statistics & Programme Implementation (MoSPI) on Thursday.
RBI permits SBI Mutual Fund to acquire 9.99% paid-up share capital in IndusInd Bank
Oct 12, 2023, at 05:04 am
Mumbai: The Reserve Bank of India (RBI), on Wednesday, granted permission to SBI Mutual Fund (SBIMF) to acquire up to 9.99% of paid-up share capital or voting rights in Induslnd Bank.
RBI directs Bank of Baroda to halt adding new customers via app
Oct 11, 2023, at 06:35 am
Mumbai: The Reserve Bank of India (RBI), on Tuesday, directed state-owned lender Bank of Baroda to cease the onboarding of new customers through the BoB World, the bank's digital banking application.
Oct 07, 2023, at 06:05 am
Mumbai: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday announced it will maintain the repo rate at 6.5 percent for the fourth consecutive time.
RBI's Monetary Policy Committee likely to keep repo rate steady at 6.50%: Report
Oct 04, 2023, at 06:33 am
Mumbai: Experts are anticipating that the Monetary Policy Committee (MPC) will keep the repo rate steady at 6.50 percent and sustain a stance of 'Withdrawal of Accommodation' in the forthcoming October monetary policy.
RBI extends deadline for returning Rs 2000 bank notes till October 7
Oct 01, 2023, at 12:29 am
The Reserve Bank of India (RBI) on Saturday extended the deadline for exchanging or depositing Rs 2000 banknotes by a week to October 7, 2023.
Amazon won't allow these notes for COD orders from today
Sep 20, 2023, at 04:32 am
New Delhi: Starting September 19, 2023, Amazon India will no longer accept Rs. 2,000 currency notes for Cash on Delivery (COD) orders or Cashloads, media reports said.
RBI approves reappointment of Sashidhar Jagdishan as HDFC Bank MD & CEO for next three years
Sep 20, 2023, at 02:00 am
New Delhi: The Reserve Bank of India (RBI) has granted approval for the re-appointment of Sashidhar Jagdishan as the Managing Director and Chief Executive Officer of HDFC Bank, the bank informed the exchanges in a communication on September 19.
RBI asks banks and NBFCs to release property documents within 30 days of loan repayment
Sep 14, 2023, at 08:38 am
New Delhi/UNI: The Reserve Bank of India (RBI) on Wednesday directed banks and non-banking finance companies (NBFCs) to release all the original movable/immovable property documents and remove charges registered with any registry within 30 days after full repayment and settlement of the loan account.