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Reserve Bank of India News
Reserve Bank of India
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.
RBI allows banks to spread bond trading losses
Mon, Apr 02, 2018
India`s state-run banks, which are already struggling under the burden of provisioning for record levels of bad loans, have been further hit by mark-to-market losses on their huge bond holdings due to a sustained spike in bond yields since July.
PNB fraud case: RBI says conducted scrutiny, matter under examination for enforcement action
Sun, Apr 01, 2018
PNB fraud case: Replying to an RTI query, the central bank also said it has been issuing necessary instructions to banks from time to time on a variety of issues of prudential supervisory concern, including the management of operational risks inherent in the functioning of banks. Asked to provide details of action taken by the RBI after receiving input of suspected fraud at PNB and steps being taken to check such recurrences, the banking sector regulator said a confidential circular on time-bound implementation and strengthening of 'SWIFT' related operational controls was issued to public and private banks on February 20
Vegetable price decline gives RBI room to hold rates
Wed, Mar 28, 2018
The timely fall in vegetable prices is likely to lead the Reserve Bank of India to temper the tone of its monetary policy statement, which is due on April 5 and also give the central bank more room to hold off raising interest rates. The impact of the crash in prices of vegetables, including onions, tomatoes, cauliflower, cabbages, is expected to last at least until June, which in turn will lead to inflation undershooting RBI`s projection of 5.1-5.6 percent for April-September
RBI may maintain status quo in April policy review: Analysts
Tue, Mar 27, 2018
RBI policy review: After surging to a concerning 5.2 per cent in December, the headline inflation cooled-off to 4.4 per cent for February and is expected to go down further. A meeting of the rate setting panel, the MPC, will begin on April 4 and the resolution will be announced the next day. Governor Urijit Patel will also be holding the customary post-policy interaction with journalists, which will be the first such conference after the nearly Rs 13,000-crore PNB scam came to light
Why Raghuram Rajan did not join Twitter revealed; find out
Fri, Mar 23, 2018
Renowned economist Raghuram Rajan today said he has not joined microblogging site Twitter as he was not quick to respond to tweets in a few words in 30 seconds. "I don't have time. My sense is that in many of these things, once you start engaging, you have to be consistent..