Reserve Bank Of India

  • RBI restores overseas investment limit July 3, 2014

    Mumbai: The Reserve Bank of India (RBI) on Thursday restored the overseas investment limit of Indian companies to 400 percent of the firm's net worth after the rupee rebounded from last year's record low levels against the dollar. Last August, the RBI cut the overseas investment limit for companies to 100...
  • June factory activity grows at fastest pace since February July 1, 2014

    New Delhi: Indian factory activity expanded in June at its quickest pace since February while output prices rose at the fastest rate in eight months, signalling a further rise in inflation that is bound to vex the Reserve Bank of India (RBI), a business survey showed on Tuesday. The HSBC Manufacturing...
  • RBI's '007' Raghuram Rajan faces pro-growth boss in Narendra Modi June 14, 2014

    Mumbai: Hailed as a troubleshooting "James Bond" of central bankers amid India's currency crisis last year, Raghuram Rajan was given a licence to kill inflation with higher interest rates and drive a programme of monetary policy reforms. Now, the governor of the Reserve Bank of India (RBI) may need all the...
  • RBI cautions public against fake website May 26, 2014

    Mumbai: The Reserve Bank on Monday cautioned the public not to fall prey to spurious offers made by a fake website in its name offering savings accounts. "It has come to the notice of the RBI today that a fake website has been created at http://www.rbi-inonline.org/savings.html by some unknown persons...
  • Raghuram Rajan signed Rs 1000 banknotes to come up shortly May 6, 2014

    Mumbai: Reserve Bank will shortly issue banknotes of Rs 1000 denomination in the Mahatma Gandhi series-2005 bearing the signature of Governor Raghuram Rajan. "The RBI will shortly issue Rs 1000 denomination Banknotes incorporating rupee symbol on the obverse and reverse, with inset letter 'L' in both the numbering panels, in the...
  • Minors over 10 years can operate bank accounts: RBI May 6, 2014

    New Delhi: Minors above 10 years of age can open and operate independently savings bank account and use other facilities like ATM and cheque books. The Reserve Bank on Tuesday issued the guidelines allowing minors to operate bank accounts independently with a view to promote financial inclusion and bring uniformity...
  • Exclusive: Not worried about rupee overvaluation right now, says Rajan April 2, 2014

    Mumbai: Reserve Bank of India governor Raghuram Rajan said he was not worried about rupee overvaluation for now. Strong foreign fund inflows over the last couple of months have lifted the rupee to an 8-month high, stoking concerns that India's exports could become uncompetitive. "When we were at 60/$, people...
  • RBI gets EC approval to grant new bank licences April 1, 2014

    New Delhi: Ending weeks of uncertainty, the Election Commission on Tuesday allowed the Reserve Bank of India to issue licences for setting up new banks. "The Commission is of the view that the Reserve Bank of India (RBI) may take necessary action (for grant of in-principle approval for banking licences) as...
  • RBI keeps Repo Rate unchanged at 8 pc, CRR at 4 pc April 1, 2014

    New Delhi: The Reserve Bank of India maintained status quo in key rates on Tuesday, keeping the Repo Rate unchanged at 8 per cent and Cash Reserve Ratio at 4 per cent. The RBI also warned that failure to elect a stable government in the coming elections will accentuate "downside risks...
  • RBI set to announce annual monetary policy today, no changes likely April 1, 2014

    The Reserve Bank will come out with annual monetary policy on Tuesday amid expectations that it will maintain status quo because retail inflation, especially in food items, is yet to show definite signs of moderation. ...
  • RBI likely to maintain status quo in monetary policy on Tuesday March 31, 2014

    New Delhi: The Reserve Bank will come out with annual monetary policy on Tuesday amid expectations that it will maintain status quo because retail inflation, especially in food items, is yet to show definite signs of moderation. "It would be quite a tough call for the RBI in the given scenario......
  • RBI grants 9 more months to exchange notes printed before 2005 March 3, 2014

    The Reserve Bank on Monday granted an additional nine months for the public to exchange currency notes printed before 2005, including Rs 500 and Rs 1,000 denominations, and set a deadline of January 1, 2015. "RBI has also advised banks to facilitate the exchange of these notes for full value and...
  • RBI committed to "strongest growth possible": Rajan February 26, 2014

    Under flak from various quarters for raising rates, RBI Governor Raghuram Rajan on Wednesday said the central bank is committed to the "strongest growth possible" and is on the same page as the Finance Ministry on this front. The Reserve Bank of India (RBI) also strongly favours targeting CPI inflation but...
  • Hike in LPG cap a misdirected subsidy: RBI Governor Raghuram Rajan February 11, 2014

    Reserve Bank of India Governor Raghuram Rajan has questioned the decision to raise the cap of subsidised LPG cylinders from 9 to 12 per annum, calling it a 'misdirected subsidy'. Speaking to Karan Thapar on Devil's Advocate, Rajan said, "What one should be careful about is expanding the misdirected subsidies...
  • RBI Governor questions rise in LPG cap, calls it misdirected subsidy February 11, 2014

    New Delhi: Reserve Bank of India Governor Raghuram Rajan has questioned the decision to raise the cap of subsidised LPG cylinders from 9 to 12 per annum, calling it a 'misdirected subsidy'. Speaking to Karan Thapar on Devil's Advocate, Rajan said, "What one should be careful about is expanding the...
  • RBI a vigilant owl, not a dove or a hawk: Raghuram Rajan February 11, 2014

    The Reserve Bank brass took to ornithology to explain its policy stance and its intents as it took everyone by surprise with a rate hike on Tuesday. "We are neither hawks, nor doves. We are actually owls," Governor Raghuram Rajan said eliciting loud laughter at the customary post-policy press conference in...
  • RBI hikes repo rate by 25 bps, keeps CRR unchanged at 4 pc January 28, 2014

    New Delhi: The Reserve Bank of India on Tuesday hiked repo rate by 25 basis points. Following the hike the lending rate is now 8 per cent. However, it has kept the cash reserve ratio (CRR) unchanged at 4 per cent. The announcement were made at the third quarter monetary policy...
  • RBI to announce 3rd quarter monetary policy review today February 11, 2014

    New Delhi: The Reserve Bank of India is likely to announce the third quarter monetary policy on Tuesday. The experts have said that the RBI may retain the status quo despite the clamour to slash interest rates. Banks across the country have been insisting on rate cuts to help boost...
  • RBI to digitise its old records February 11, 2014

    New Delhi: To preserve delicate and brittle documents, the Reserve Bank will digitise old records running into 1.5 lakh pages and make them available online. The archival records of the Reserve Bank of India publications are in the form of books, bound volumes and accession registers. The objective is "digitising the documents...
  • RBI to withdraw all pre-2005 currency notes from March 31 January 22, 2014

    The Reserve Bank on Wednesday decided to withdraw all currency notes issued prior to 2005, including Rs 500 and Rs 1,000 denominations, after March 31 in a move apparently aimed at curbing black money and fake currencies. "After March 31, 2014, it (RBI) will completely withdraw from circulation all bank notes...
  • Rupee gains, closes at 61.81 vs US dollar January 22, 2014

    The rupee rose slightly on Wednesday as a Reserve Bank of India (RBI) report recommending bringing down consumer inflation to a target of 4 per cent is seen benefitting the currency, despite raising concerns about economic growth in the near term. The RBI report recommended making consumer inflation a priority for...
  • Nitish Kumar seeks effective steps from Raghuram Rajan to boost bank CD ratio January 21, 2014

    Bihar Chief Minister Nitish Kumar on Tuesday drew attention of Reserve Bank of India (RBI) Governor Raghuram Rajan towards low cash deposit (CD) ratio of banks in the state and sought effective steps for its improvement. Kumar sought effective RBI initiative to improve the CD ratio during a meeting with Rajan...
  • RBI panel calls for bank accounts for all adults by January 2016 January 8, 2014

    Mumbai: Recommending sweeping changes in the banking structure, a Reserve Bank of India panel on Tuesday suggested setting up of specialised banks to cater to low income households to ensure that all citizens have bank accounts by 2016. It also suggested that facility for withdrawal, payment and deposit should be set...
  • India's foreign exchange reserves drop by $12.6 mn December 28, 2013

    Mumbai: India's foreign exchange (forex) reserves declined by $12.6 million to $295.50 billion for the week ended December 20, Reserve Bank of India (RBI) data showed. This is the second consecutive week of decline in the country's forex reserves. The foreign exchange reserves had declined by $192.8 million to $295.51 billion...
  • RBI Mid-Quarter Monetary Policy Review: December 2013 December 18, 2013

    The Reserve Bank of India (RBI) has kept key policy rate and cash reserve ratio unchanged in the December 2013 Mid-Quarter Monetary Policy Review. On the basis of an assessment of the current and evolving macroeconomic situation, the RBI decided to keep the policy repo rate under the liquidity adjustment facility...
  • RBI to release policy review today, likely to hike repo rate December 18, 2013

    New Delhi: The Reserve Bank of India (RBI) will come out with its mid-quarter policy review on Wednesday. With the recent surge in inflation, a rate hike looks imminent. A poll conducted by CNBC-TV18 shows that 90 per cent of the respondents expect that the RBI will hike repo rate...
  • Tata Sons withdraws its bank licence application: RBI November 27, 2013

    New Delhi: Tata Sons has withdrawn its application for setting up a bank, saying its current financial services model best supports the needs of the group's domestic and overseas businesses. The withdrawal by Tata Sons leaves over two dozen applicants, including Anil Ambani Group and Aditya Birla Group, in the race...
  • SC notice to RBI, EC, Centre on PIL to delink subsidised LPG from UID November 19, 2013

    New Delhi: In a blow to the government's pet Aadhar card scheme, the Supreme Court on Tuesday issued a notice to the Reserve Bank of India (RBI), the Election Commission and the central government asking that services like the subsidised gas cylinder be delinked from the Aadhar card. A public interest...
  • GDP growth seen between 5-5.5 pc in 2013/14, says Chidambaram November 15, 2013

    India is likely to achieve an economic growth of between 5-5.5 per cent in this fiscal year, the finance minister said on Friday, despite wide expectations of growth slipping below 5 per cent by private economists. India's growth slowed to 5 percent in the 2012/13 fiscal year that ended in March,...
  • Full text: Review of RBI's second quarter monetary policy of 2013-14 October 29, 2013

    New Delhi: The Reserve Bank of India Governor Raghuram Rajan on Tuesday reviewed second quarter monetary policy on Tuesday. The RBI hiked the repo rate by 25 basis points from 7.50 per cent to 7.75 per cent and kept the Cash reserve Ratio unchanged. Part A. Monetary Policy Monetary and Liquidity Measures Following...