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Reserve Bank of India News
Reserve Bank of India
Oil price hike may force RBI to up rates in August: Analysts
Mon, May 21, 2018
Rise in oil prices may lead to inflationary trends in the country, forcing the Reserve Bank of India (RBI) to hike rates by 0.25 per cent in the August policy review, foreign brokerages said today. The apex bank, however, may opt for a status quo in rates at the forthcoming review in June, they said
Retail inflation climbs for first time in 4 months, rises to 4.58 pct in April
Mon, May 14, 2018
Retail inflation accelerated in April to 4.58 percent, after easing for three straight months, government data showed on Monday, mainly driven by faster increases in fuel prices. Analysts polled by Reuters had forecast April`s CPI inflation at 4.42 percent, up from March`s 4.28 percent
RBI expected to go for 3 rate hikes from December quarter: Report
Mon, May 14, 2018
Morgan Stanley in its report further noted that, "as the economy enters into a full-fledged recovery, we expect the central bank to embark on a shallow rate hike cycle beginning October-December of 2018." The report said a recovery in private capex is likely later this year and this will boost economic growth
PNB scam: RBI declines to share copies of inspection reports
Sun, May 13, 2018
Replying to an RTI query, RBI also said it does not have "specific information" on what resulted in detection of over Rs 13,000 crore scam at PNB and directed the application to the state-run bank for providing those details
April inflation seen climbing on higher oil prices; data to be announced later today
Fri, May 11, 2018
Minutes from RBI’s Monetary Policy Committee April 4-5 meeting showed members flagged multiple concerns, including an increase in minimum support prices for farmers and crude oil prices.
Power Ministry, RBI meet on NPA norms postponed
Tue, May 08, 2018
Power ministry's meeting with Reserve Bank of India on the revised RBI norms for bad loans scheduled for today has been postponed. "It (the meeting) has been postponed. (The meeting will take place) some other day," Power Minister R K Singh told reporters on the sidelines of a function.
Rs 38,000 cr plans cleared by Cabinet aimed at farmers, minorities
Thu, May 03, 2018
The Union Cabinet approved on Wednesday a host of schemes worth Rs 38,000 crore for farmers and minorities — two communities whose sections have been seen not happy with the ruling BJP. They also form two key constituencies that are of great significant ahead of next year’s general elections.
Loans against shares, bonds, fixed deposits soar in 2017-18 bull run; Sensex jumped 11.30%
Wed, May 02, 2018
Loans against shares and bonds grew the fastest followed by loans against fixed deposits for the financial year 2017-18, according to the latest bank credit figures put out by Reserve Bank of India (RBI). The BSE Sensex rose 11.30% in the last fiscal.
RBI silent on banks' customer-unfriendly practices: Bank union
Tue, May 01, 2018
Bank Union said effective portability of bank accounts is a good antidote to several restrictive practices followed by the banks, and has been successfully implemented in the telecom sector and helped consumers.
Paytm Payments Bank says hits 100 mn KYC compliant wallets mark
Tue, Apr 24, 2018
Paytm said it set up offline centres and a team of agents who collected documents from customers for the KYC process. The bank stated that every KYC customer has opened a Wallet Account with Paytm Payments Bank. Also, the 100 million milestone includes both complete (or full) and minimum KYC customers.
Big worry for Reliance Infrastructure as Mumbai Metro, Reliance Naval net worth erodes
Tue, Apr 24, 2018
MMOPL operates and maintains Versova-Andheri-Ghatkopar metro line in Mumbai, the only Public-Private Partnership metro corridor in Maharashtra. RNEL is into naval as well as commercial shipbuilding, ship repairs, heavy engineering, etc.
Aadhaar seeding must for bank accounts under KYC norms: RBI
Sat, Apr 21, 2018
This, however, will be subject to the final decision of the Supreme Court on making of Aadhaar mandatory, RBI said in a circular late last night. Till now, an Officially Valid Document (OVD) for address proof together with Permanent Account Number (PAN) issued by the Income Tax department and a recent passport size photograph were the key KYC documents
Why Axis Bank chief Shikha Sharma tenure was surprisingly cut short
Thu, Apr 19, 2018
RBI was in for a surprise when Axis Bank set up a watchlist of Rs 22,628 crore in April 2016 coming immediately after a quarter when the corporate stress was not disclosed. It was not the extent of stress that troubled the regulator, but the lack of transparency in timely disclosure of the actual stress in the corporate loan book of the bank.
As cash crisis hits India, ATM body flays new RBI norms for cash handling
Thu, Apr 19, 2018
The RBI has insisted that the vans should be monitored live with geo-fencing mapping with the additional indication of the nearest police station in the corridor for emergency and ATM operations should be carried out only by certified personnel who have completed minimum hours of classroom learning and training among others.
First case under NCLT process resolved; Vedanta bags Electrosteel
Wed, Apr 18, 2018
An operational creditor of Electrosteel, SRG Earth Resources contested that resolution professional has not admitted its full claim. Its demand was also rejected.
Who will be the next RBI deputy governor? Finmin receives 37 applications
Mon, Apr 09, 2018
Applicants should have extensive experience as a full-time director or board member and possess understanding at a very senior level, of supervision and compliance in the financial sector, it had said.
RBI to set up Data Sciences Lab to improve surveillance, early warning detection abilities
Fri, Apr 06, 2018
Reserve Bank of India (RBI) in its release on Thursday said that it has decided to set up Data Sciences Lab to improve its forecasting, surveillance and early warning detection abilities which will aid policy formulation.
RBI policy review 2018 highlights: Here are top 10 points
Thu, Apr 05, 2018
RBI policy review 2018 highlights: The MPC decision is consistent with the neutral stance of monetary policy in consonance with the objective to achieve medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.
PNB fraud case impact: Here is who LoU ban is really going to hurt
Wed, Apr 04, 2018
In the wake of Rs 13,000-crore PNB scam allegedly by diamond jewellery designer Nirav Modi and his associates through fraudulent LoUs, the central bank stopped banks from issuing the two instruments for trade credits for imports into India. "The Reserve Bank of India's (RBI) decision to ban LoUs) and LoCs as trade finance instruments is likely to limit the overall financial flexibility of Indian importers," said India Ratings and Research (Ind-Ra).
SBI, PNB, Bank of Baroda share prices rally; here is what got investors interested
Tue, Apr 03, 2018
SBI share price rose 2.7 per cent, contributing to a majority of the gains on the Nifty. Union Bank of India share price jumped 4.8 per cent while Bank of Baroda and Syndicate Bank share prices were up over 3 per cent each.