CENTRAL BANKS

  • European Central Bank hacked, blackmailed July 25, 2014

    Berlin: The European Central Bank said Thursday that email addresses and other contact information have been stolen from a database that serves its public website, though it stressed that no internal systems or marketsensitive data were compromised. The security breach involved a database serving part of the website that gathers registrations...
  • Rupee rises most in a fortnight, up 16 paise against US dollar to end at 59.17 June 6, 2014

    Mumbai: The rupee on Friday appreciated 16 paise, logging its biggest daily rise in a fortnight, to end at 59.17 against the US dollar on the back of a surge in local equities and hefty capital inflows. Dollar selling by exporters also aided the rupee rise while the dollar index was...
  • Rupee fell marginally, closes at 61.62 vs US dollar January 20, 2014

    The rupee fell marginally on Monday, hurt by broad gains globally in the dollar, but strong foreign fund inflows into domestic bonds prevented broader losses. Foreign institutional investors have been heavy investors in local debt, being net buyers for seven successive sessions to Friday, taking the total purchases for the month...
  • UAE warns NRIs against carrying rupees into India September 9, 2013

    UAE's Central Bank has asked all banks and exchange houses to advise their customers not to carry rupees into India. The Central Bank also asked banks and money changers to warn their customers of the consequences of failing to do so. "The penalties stipulated in the new (Indian) law include confiscation...
  • RBI governor Raghuram Rajan's new proposals September 4, 2013

    Reserve Bank of India Governor, Raghuram Rajan, on Wednesday announced a slew of proposals in his first day of office. Below are some highlights of the proposed action. Monetary Policy Postpones first monetary policy statement as Governor to September 20 from September 16. To set up a panel on how to strengthen monetary policy...
  • RBI says not considering converting idle gold into bullion August 31, 2013

    Mumbai: The Reserve Bank of India said on Saturday it was not considering converting India's idle gold into bullion according to a statement. Reuters had reported that the central bank was planning to ask banks to buy household gold and divert it to precious metal refiners in an effort to reduce...
  • Iran's president appoints Valiollah Seif as the new head of central bank August 26, 2013

    Iranian state television says that the country's president has appointed a private banker as the head of the country's central bank. The report on Sunday said President Hasan Rouhani picked Valiollah Seif to run the country's financial regulator. It said Seif will replace outgoing central bank head Mahmoud Bahmani. Seif ran...
  • The Last Word: What should the government do to tackle the rupee crisis? August 20, 2013

    The carnage on the Dalal Street continued on Tuesday with the Rupee opening at its all time low of 64.11. It however recovered by the end of the day's trade and closed at 63.25 to the dollar. This is an all time closing low for the rupee. ...
  • As rupee plunges to a new low, RBI takes steps to curb its volatility August 20, 2013

    Mumbai: Worried over a spike in interest rates in the wake of steps to support the falling rupee, the Reserve Bank of India (RBI) on Tuesday announced a slew of measures, including Rs 8,000 crore bond buyback, to ease liquidity and ensure adequate credit flow to the productive sectors of...
  • RBI to announce first quarter monetary policy review today July 30, 2013

    New Delhi: The Reserve Bank of India (RBI) on Tuesday will reveal its quarter monetary policy review for 20132014. It's the first time since 1997, that the rupee will be at the centre of a quarterly monetary policy. However, Reserve Bank of India (RBI) on Monday indicated that it will...
  • RBI to announce quarter monetary policy; unlikely to cut repo rate July 30, 2013

    The RBI on Tuesday will reveal its quarter monetary policy review. It's the first time since 1997, that the rupee will be at the centre of a quarterly monetary policy. ...
  • Ben Bernanke tells Congress Fed flexible on bond buying July 18, 2013

    Washington: Federal Reserve Chairman Ben Bernanke said on Wednesday the US central bank still expects to start scaling back its massive bond purchase program later this year, but he left open the option of changing that plan if the economic outlook shifted. While sticking closely to a timeline to wind down...
  • Promoters will get 18 months to open branches: RBI June 4, 2013

    Mumbai: The central bank on Monday said the entities getting licences to open new banks will be given 18 months to open branches against 12 months prescribed earlier, and promoters would have to transfer their holdings to the nonoperative financial holding company (NOFHC) in a stipulated period. "It has been...
  • Protesters block streets around European Central Bank June 1, 2013

    Frankfurt: Crowds of anticapitalist protesters on Friday blocked streets leading to the European Central Bank in Germany's financial capital, Frankfurt, to protest its role in pushing for austerity cutbacks as a way to fight the continent's debt crisis. Members of the Blockupy alliance linked arms for several hours in a steady...
  • Gold holds near twoweek high; equities cap gains May 6, 2013

    Singapore: Gold neared its highest level in more than two weeks on Monday, but gains may be capped by a rally in equity markets and promising US jobs data that dampened speculation the Federal Reserve may boost monetary stimulus. Bullion has slipped almost 12 per cent so far in 2013, having...
  • 17 nations hit by Euro crisis, scenario worse than forecast February 15, 2013

    The economy of the 17 nations in the Euro shrank by 0.6 per cent in the fourth quarter, which was worse than forecast. ...
  • Economic growth could slip to 5.5 pc this fiscal: RBI survey January 28, 2013

    Mumbai: India's economic growth could fall to 5.5 per cent this fiscal before seeing gradual recovery next year, a RBIsponsored survey said on Monday. The latest estimate, coming a day ahead of the RBI quarterly monetary policy review, is lower than the government's revised annual growth estimate of 5.7 per...
  • New lifeline to Greece; pact to release euro 43.7 bn reached November 27, 2012

    Berlin: Averting Greece bankruptcy, leaders of eurozone countries and IMF have agreed to unlock 43.7 billion euros to the heavilyindebted Greek economy. The breakthrough came after 12 hours of negotiations by eurozone finance ministers in Brussels which concluded last night. Two earlier attempts had failed to break the deadlock. This...
  • Bank home loans set to become cheaper August 28, 2012

    Mumbai: Even though the Reserve Bank of India has not yet declared a fresh rate cut, interest rates on retail loans including home, auto, education and personal loans are likely to moderate in the coming days. Some banks have already slashed their interest rates while others are planning to do...
  • Gold hits 4 month high on US Fed stimulus hopes August 27, 2012

    Singapore: Gold rose to the loftiest level since midApril on Monday, extending strong gains from last week as expectations for further monetary easing from the US Federal Reserve kept sentiment buoyant. The Fed had room to deliver additional monetary stimulus to stoke economic growth, said the central bank's chief Ben Bernanke,...
  • European Central Bank cuts rates to new low July 6, 2012

    Frankfurt: The European Central Bank cut its benchmark interest rate to a record low Thursday to spark economic growth but gave little sign it would take further action soon to ease Europe's financial crisis. By cutting its key refinancing rate by a quarter percentage point to 0.75, a move that was...
  • ECB cuts rates to aid flagging euro zone economy July 5, 2012

    Frankfurt: The European Central Bank cut interest rates to a record low on Thursday to breathe life into a deteriorating euro zone economy and back up measures agreed by government leaders last week to tackle the bloc's debt crisis. The quarterpoint cut in the ECB's main refinancing rate to 0.75 per...
  • Brussels's 'New Deal' to save Euro June 30, 2012

    Brussels: Under pressure to prevent a catastrophic breakup of their single currency, Eurozone leaders agreed on Friday to let their rescue fund inject aid directly into stricken banks from next year and intervene on bond markets to support troubled member states. They also pledged to create a single banking supervisor for...
  • Sensex ends flat; ONGC up 3 pc ahead of auction February 29, 2012

    Mumbai: The market closed on a flat note looking cautious ahead of the second tranche of long term refinancing operation (LTRO) by European Central Bank to be announced after 15:45 hours IST. The market was quite strong since morning, but disappointing FY12 Q3 GDP data and cautious mood ahead of...
  • Europe seals new Greek bailout but doubts remain February 22, 2012

    Brussels: Euro zone finance ministers agreed a 130billioneuro ($172 billion) rescue for Greece on Tuesday to avert an imminent chaotic default after forcing Athens to commit to unpopular cuts and private bondholders to take bigger losses. The complex deal wrought in overnight negotiations buys time to stabilize the 17nation currency bloc...
  • Eurozone seals Greek bailout worth 130 bn euros February 21, 2012

    Brussels: Eurozone finance ministers approved on Tuesday a second bailout for debtladen Greece that will resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy. After a marathon 12 hours of talks through the night, euro zone officials said ministers had agreed measures to cut Greece's debt...
  • US blocks Iranian banks, Govt properties February 7, 2012

    Washington: USIran ties hit a new low on Monday as the Obama administration ordered blocking of Iranian government properties and financial institutions in America. Obama said that additional sanctions are needed due to the "deceptive practices" by Iran's banks including the Central Bank to conceal transactions. The US has accused...
  • Banks examining options for AI's debt recast January 19, 2012

    Mumbai: Bankers on Thursday explored various options including conversion of the Rs 18,000 crore loans to SLR as part of the debt restructuring of the ailing Air India carrier and may finalise the bailout package next week. "We are looking at various instruments like SLR, longterm bonds and nonconvertible debentures among...
  • Europe in a very grave situation: Draghi January 17, 2012

    Strasbourg: Europe is an a "very grave" economic situation, European Central Bank President Mario Draghi said on Monday, but he added that euro zone governments are progressing well with efforts to put their finances in order. Speaking in his capacity as head of Europe's recently created financial system superwatchdog, Draghi added...
  • Eurozone crisis: Joint action by 6 Central banks November 30, 2011

    New Delhi: Central banks from six developed nations had to resort to coordinated action on November 30 to ensure that the European debt crisis did not fundamentally destablise the global financial system. Europe's rolling debt crisis continues to trouble economies and markets. To prevent a lack of liquidity in the global...