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Reserve Bank of India

RBI clears appointment of Partha Pratim Sengupta as MD and CEO of Bandhan Bank

RBI clears appointment of Partha Pratim Sengupta as MD and CEO of Bandhan Bank

Thu, Oct 10, 2024

The Reserve Bank has approved the appointment of Partha Pratim Sengupta as Managing Director & Chief Executive Officer (MD & CEO) of Bandhan Bank for a period of three years. His three-year tenure counts from the date of taking charge, which shall not be later than November 10, 2024, Bandhan Bank said in a regulatory filing.

Key Takeaways From RBI MPC Meeting: Repo rate, CPI inflation, GDP forecasts, UPI transaction limits, NBFC, banks and more

Key Takeaways From RBI MPC Meeting: Repo rate, CPI inflation, GDP forecasts, UPI transaction limits, NBFC, banks and more

Wed, Oct 09, 2024

Key Takeaways from RBI MPC Meeting: Reserve Bank of India governor Shaktikanta Das kept the repo rate unchanged at 6.50 per cent for the 10th consecutive time. The monetary policy committee (MPC) announced a change in the policy stance to 'neutral'. There was no change in GDP forecast and CPI inflation estimates for FY25.

Government appoints Ram Singh, Saugata Bhattacharya, Nagesh Kumar as RBI MPC members

Government appoints Ram Singh, Saugata Bhattacharya, Nagesh Kumar as RBI MPC members

Wed, Oct 02, 2024

The members of the MPC appointed by the central government will hold office for a period of four years, with immediate effect or until further orders, whichever is earlier.

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New Rs 50 currency note out; check features of bill, this is how it is different from old one

New Rs 50 currency note out; check features of bill, this is how it is different from old one

Wed, Apr 17, 2019

The Reserve Bank of India had issued Fluorescent Blue-coloured Rs 50 note in August, 2018.

RBI bids for Air India's iconic Nariman Point tower

RBI bids for Air India's iconic Nariman Point tower

Tue, Apr 16, 2019

Reserve Bank of India (RBI) has tossed its hat in the ring for the taking over of Air Indias iconic tower at Nariman Point in Mumbai. The central bank is learnt to have offered 10 years` lease rental as advance payment, a top reliable source told IANS.

Indian economy needs to grow faster: RBI Governor

Indian economy needs to grow faster: RBI Governor

Sat, Apr 13, 2019

Reserve Bank of India (RBI) Governor Shaktikanta Das says India's economy needs to grow more faster to tackle poverty and other issues. Watch this video to know more.

Focus should be on 7% GDP growth: Uday Kotak

Focus should be on 7% GDP growth: Uday Kotak

Sat, Apr 13, 2019

Uday Kotak, vice chairman and managing director, Kotak Mahindra Bank said that the policy rate should be reduced by the Reserve Bank of India (RBI). He added that the focus should be on achieving GDP growth at the rate of 7 percent. Watch this video to know more.

Reserve Bank injected Rs 2.98 lakh crore liquidity in market in 2018-19

Reserve Bank injected Rs 2.98 lakh crore liquidity in market in 2018-19

Thu, Apr 11, 2019

Currency in circulation expanded sharply in February-March. The liquidity needs of the system were met through injection of durable liquidity amounting to Rs 37,500 crore in February and Rs 25,000 crore in March through open market purchase operations (OMOs).

RBI to take time to examine LVB-IHFL merger deal: Report

RBI to take time to examine LVB-IHFL merger deal: Report

Wed, Apr 10, 2019

In a statement the RBI had noted that it would examine the proposal as per extant regulatory guidelines and directions.

RBI imposes Rs 1 lakh penalty on Lucknow-based co-op bank

RBI imposes Rs 1 lakh penalty on Lucknow-based co-op bank

Wed, Apr 10, 2019

The Reserve Bank Wednesday said it has imposed a penalty of Rs 1 lakh on UP Postal Primary Co-operative Bank, Lucknow for violation of norms regarding shifting of its branch.

SBI cuts loan rates by 5 bps: 5 things you must know

SBI cuts loan rates by 5 bps: 5 things you must know

Wed, Apr 10, 2019

Country's largest public sector lender State Bank of India has followed its smaller peers to cut the lending rates by 5 basis points across all tenors with effect from April 10. This is the bank's first rate cut announcement since November 2017.

Banks reduce interest on home, auto loans post-RBI cut

Banks reduce interest on home, auto loans post-RBI cut

Tue, Apr 09, 2019

Within days of the Reserve Bank of India (RBI) lowering its key lending rate, state-run State Bank of India (SBI) on Tuesday reduced its benchmark marginal cost of funds based lending rate (MCLR) and home loan rates, effective from April 10.

Zero Balance Account: Here are some dos and don'ts if you have Basic Savings Bank Deposit (BSBD) Account

Zero Balance Account: Here are some dos and don'ts if you have Basic Savings Bank Deposit (BSBD) Account

Tue, Apr 09, 2019

BSBDA customer cannot have any other savings bank account in the same bank. If 'Basic Savings Bank Deposit Account’ is opened on the basis of simplified KYC norms, the account would additionally be treated as a 'Small Account' and would be subject to conditions stipulated for KYC norms / AML standards / Combating of Financing of Terrorism (CFT) / Obligation of banks.

New RBI guidelines for currency chests: Processing capacity of 6.60 lakh banknotes per day, CBL of at least Rs 1000 cr

New RBI guidelines for currency chests: Processing capacity of 6.60 lakh banknotes per day, CBL of at least Rs 1000 cr

Tue, Apr 09, 2019

The Reserve Bank of India on Monday issued fresh guidelines or banks to set up new currency chests. As per the new guidelines, the area of the room or vault should be at least 1500 sq. ft. In case of hilly/ inaccessible places, the area of the strong room or vault should be at least 600 sq. ft.

Bank account opening problem? Do not let it stop you, check out 'Small Account'

Bank account opening problem? Do not let it stop you, check out 'Small Account'

Tue, Apr 09, 2019

A person can open a "Small Account" on the basis of a self-attested photograph and putting his/her signatures or thumbprint in the presence of an official of the bank. It is reiterated that while opening accounts based on Aadhaar also, banks must satisfy themselves about the correct address of the customer by obtaining required proof of the same as per extant instructions.

On Lakshmi Vilas Bank and Indiabulls Housing merger plan, RBI reacts

On Lakshmi Vilas Bank and Indiabulls Housing merger plan, RBI reacts

Sun, Apr 07, 2019

The companies had said in a filing on Friday that they will merge operations in a share-swap deal.

Supreme Court 'February 12' Circular Ruling Impact: It does not disturb creditors' rights to insolvency proceedings, says Sahoo

Supreme Court 'February 12' Circular Ruling Impact: It does not disturb creditors' rights to insolvency proceedings, says Sahoo

Sun, Apr 07, 2019

Sahoo said the court's judgement does not disturb rights of creditors to initiate insolvency proceeding or any provision in the Insolvency and Bankruptcy Code (IBC).

Jalan panel norms to apply to current, future RBI reserves

Jalan panel norms to apply to current, future RBI reserves

Fri, Apr 05, 2019

A senior Finance Ministry source said that the central bank's profit distribution policy as suggested by the Jalan committee report, if accepted, will be applicable on the current as well as future surplus reserves of the RBI.

Senior Citizen? Do you know about this facility? Your bank must provide

Senior Citizen? Do you know about this facility? Your bank must provide

Fri, Apr 05, 2019

Under this provision, senior citizens above 70 years can do certain basic banking transactions from their home, as the bank will arrange to have cash or cheque picked from their home against receipt.

Online frauds: Know when you have zero liability for unauthorised transactions

Online frauds: Know when you have zero liability for unauthorised transactions

Fri, Apr 05, 2019

Online banking fraud liability: In the wake of rising number of online frauds across the country, it has become necessary for customers to be aware of rules that will help them recover their losses

Will home loan rates fall for you after RBI repo rate cut? Find out

Will home loan rates fall for you after RBI repo rate cut? Find out

Thu, Apr 04, 2019

RBI may have cut the repo rate by 25 bps today to 6% and expectations are that home loan, auto loan and other loan rates will fall. But will they?

Realtors want banks to pass on rate cut benefits to borrowers

Realtors want banks to pass on rate cut benefits to borrowers

Thu, Apr 04, 2019

The RBI's decision to cut the key interest rate will boost housing sales and lift market sentiment, property developers and consultants said Thursday.

RBI to ensure strict turnaround time for customer plaints

RBI to ensure strict turnaround time for customer plaints

Thu, Apr 04, 2019

The Reserve Bank Thursday proposed to put in place a turnaround time (TAT) framework to resolving customer complaints without much delays, by the end of June.

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