RESERVE BANK

  • RBI working on integration between e-commerce firms and banks 13 hours 58 minutes ago

    Mumbai: India's central bank is working on improving the integration between e-commerce firms and the country's banking systems, a deputy governor of the Reserve Bank of India (RBI) said on Monday. "One area which we will now be looking at very closely, which is emerging, is how to provide integration between...
  • RBI Governor Raghuram Rajan receives threat email, Cyber Crime Investigation Cell launches probe 5 days ago

    Mumbai: Reserve Bank of India Governor Raghuram Rajan has received a threat message on his email ID. According to Mumbai Police sources, the email was sent from a Gmail id. RBI officials have alerted the office of the Joint Commissioner, Crime Branch. The Cyber Crime Investigation Cell has launched a probe...
  • RBI warns against fraudulent 'All Bank Balance Enquiry No' app 1 week ago

    Mumbai: Cautioning public against a fraudulent bank account mobile app in its name, the Reserve Bank of India had on Saturday said it has not developed any such application. In a statement, the Reserve Bank said that it has come to its notice that an app (application) "is doing rounds on...
  • RBI warns public against fraudulent 'all bank balance enquiry app' April 11, 2015

    Mumbai: Cautioning public against a fraudulent bank account mobile app in its name, the Reserve Bank on Saturday said that it has not developed any such application. In a statement, the Reserve Bank said that it has come to its notice that an app (application) "is doing rounds on WhatsApp...
  • Axis Bank cuts base rate by 0.20 per cent to 9.95 per cent April 8, 2015

    Mumbai: Country's third-largest private sector lender Axis Bank on Wednesday cut its base rate or the minimum rate of lending by 0.20 per cent to 9.95 per cent, following its larger peers who also cut their offerings on Tuesday after Reserve Bank Governor Raghuram Rajan's hard talk. "Axis Bank has revised...
  • RBI keeps interest rates unchanged, EMIs likely to remain the same April 7, 2015

    New Delhi: The Reserve Bank of India kept interest rates on hold at 7.50% on Tuesday, waiting for more clarity on inflation after heavy rains raised uncertainty about food prices and seeking to grant banks more time to reflect its previous rate cuts. With the apex bank not tinkering with...
  • No disconnect between RBI and government, says Arun Jaitley March 22, 2015

    New Delhi: Scotching murmurs of differences between the government and the Reserve Bank of India over regulation of money market, Finance Minister Arun Jaitley on Sunday said there is no 'disconnect' between the two and hoped banks would follow the central bank in reducing interest rates. Jaitley, who addressed the RBI...
  • India ready to deal with any foreign fund outflows: RBI Governor Raghuram Rajan March 19, 2015

    US Federal Reserve had signalled that it is not averse to a rate hike if there is improvement in the US job market and inflation. The Federal Reserve has kept its key short-term rate near zero since late 2008 to bolster the economy. Meanwhile, RBI Governor Raghuram Rajan has said...
  • India has historic chance to grow, don't obstruct: Arun Jaitley to opposition March 17, 2015

    New Delhi: With a number of key reforms bills stuck, government on Tuesday appealed to the opposition not to play "obstructionist" as the country has the "historic opportunity" to grow and the GDP is expected to go beyond 8 per cent next year, overtaking China. Finance Minister Arun Jaitley also rejected...
  • Sensex falls 644 from top after hitting 30,000 on RBI rate cut March 4, 2015

    Mumbai: Benchmark indices nosedived in the last hour of trade on Wednesday after touching record highs earlier in the day spurred by the 25 basis point repo rate cut. The 30-share BSE Sensex shed 213 points to close at 29380.73, after hitting a new high of 30024.74 intraday. The 50-share...
  • RBI cuts repo rate by 25 basis points to 7.5%, home loans may be cheaper March 4, 2015

    Mumbai: In a surprise move, the Reserve Bank of India on Wednesday cut repo rate by 25 basis points from 7.75 per cent to 7.5 per cent with immediate effect. This is the second rate cut in the past two months. The cut in repo rate is likely to make home...
  • Union Budget 2015: India to inject $1.3 billion to shore up state banks March 1, 2015

    Mumbai: India will inject 79.4 billion rupees ($1.3 billion) into state-owned banks in the next fiscal year to bolster their capital reserves, a smaller-than-expected sum which means the sector's heavyweights may have to turn to the market or curb lending. Successive governments have poured billions into India's bad-debt burdened state banks,...
  • FIIs pour Rs 10,000 crore in Indian capital markets in two weeks February 15, 2015

    New Delhi: Overseas investors have pumped in over Rs 10,000 crore in Indian capital markets in the first two weeks of this month on hopes of a pro-growth budget and rising expectations the government will accelerate reforms. The fund inflow this month takes the investment to above Rs 43,000 crore (USD...
  • RBI surprises by cutting repo rate by 25 basis points, hints lowering rates further January 15, 2015

    New Delhi: The Reserve Bank of India cut its repo interest rate by 25 basis points to 7.75 per cent in a surprise move on Thursday, making its first reduction in a year as inflation showed signs of slowing and the government was making efforts to contain the fiscal deficit. The...
  • Sensex rises 380 points to 3-week high; banking stocks in limelight January 2, 2015

    Mumbai: Rising for the sixth day in a row, the benchmark Sensex on Friday surged 380.36 points to end at over three-week high of 27,887.9 on encouraging manufacturing data and gains in banking stocks on hopes of sectoral reforms. The NSE barometer Nifty also soared over 111 points to close at...
  • Finance Minister Arun Jaitley denies pressuring RBI to cut rates December 30, 2014

    Mumbai/ New Delhi: Finance Minister Arun Jaitley denied on Tuesday that he was pressuring the Reserve Bank of India (RBI) into cutting interest rates, after his comment that the high cost of capital was stifling investment sent markets into a tizzy. Jaitley, in a speech in Delhi on Monday, said "costly...
  • RBI slaps penalty of Rs 50 lakh on ICICI Bank, Rs 25 lakh on Bank of Baroda December 18, 2014

    New Delhi: The Reserve Bank of India (RBI) on Wednesday imposed a penalty of Rs 50 lakh on ICICI Bank and Rs 25 lakh on Bank of Baroda for violation of KYC norms, a statement issued by the apex bank said. "The Reserve Bank of India has imposed monetary penalty on...
  • Oil drops below $59 for first time since 2009 December 16, 2014

    London: Oil fell below $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month sell off as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand. International benchmark Brent crude has almost halved since reaching a 2014 high of $115 a barrel...
  • Full statement: RBI keeps key rates unchanged in its bi-monthly monetary policy December 2, 2014

    Mumbai: On the basis of an assessment of the current and evolving macroeconomic situation, RBI has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 per cent. Monetary and Liquidity Measures On the basis of an assessment of the current and evolving macroeconomic situation, it has been...
  • RBI expected to hold rates, sound dovish to soothe government December 2, 2014

    Mumbai: The Reserve Bank of India is expected to keep interest rates unchanged on Tuesday, staying focused on containing inflation, while adopting a more dovish tone in response to the government's call for help to revive economic growth. Forty-one of 45 economists saw the RBI keeping the repo rate at 8.00...
  • Rate cut by RBI will give a good fillip to the economy: Arun Jaitley November 18, 2014

    Pushing for a rate cut by the Reserve Bank of India, Finance Minister Arun Jaitley said that the measure would give a good fillip to the economy. Jaitley's comments came on the back of a slide in crude oil prices and inflation moderating. "I am quite clear in my mind...
  • Watch: IIP up by 2.5 per cent against 0.4 per cent in August November 13, 2014

    With consumer price inflation dipping and factory output growing slightly, all eyes are now on the Reserve Bank of India. Will it or will it not cut rates at its next meeting is the question. ...
  • RBI against loan waiver scheme by state governments November 13, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan expressed reservation over the loan waiver scheme by various state governments and also suggested reasonable interest rate ceiling on loans from microfinance lenders. "Repeated loan waivers by various state governments distorts credit pricing, thereby also disrupting the credit market," he said at a function...
  • Pay Rs 20 for using ATM over 5 times a month November 1, 2014

    New Delhi: Using ATMs to withdraw money or for other purposes like balance enquiry beyond five times in a month will attract a levy of Rs 20 per transaction from Saturday. As per the Reserve Bank's new guidelines that comes into force from Saturday, bank customers in six metros-- Delhi, Mumbai,...
  • RBI redistributes work among Deputy Governors October 21, 2014

    Mumbai: The Reserve Bank, which is in the process of restructuring some of its departments, redistributed work among its four Deputy Governors. It said that consequent on reorganisation of the departments/work areas in the Reserve Bank effective on November 3, 2014, the portfolios of the Deputy Governors has been redistributed....
  • Need to break back of inflation: Raghuram Rajan September 25, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan said there was a need to "break the back" of inflation which remains high and controlling it would make the apex bank's position more comfortable. "The real problem is inflation that is persistent. We have been emphasising again and again in order to break...
  • Money laundering: RBI takes action against erring UCBs September 14, 2014

    New Delhi: Cracking down on money laundering, the Reserve Bank of India (RBI) has closed down six Urban Cooperative Banks (UCBs) which were suspected of being used to route illegal money. The central bank has also asked state governments to take stern action against any other erring UCBs after reports emerged...
  • Government of India can print Re 1 note: Law Ministry September 7, 2014

    New Delhi: Putting to rest the debate on printing of one rupee notes, the Law Ministry has opined that the Government of India has all the powers to print currency notes of this denomination. While the Reserve Bank of India (RBI) has the authority to issue bank notes of denominational values...
  • Inflation at 5 month low of 5.19 per cent in July August 14, 2014

    New Delhi: Inflation dipped to a five month low of 5.19 per cent in July mainly on account of decline in prices of some food articles, vegetables and protein rich items. It was at 5.43 per cent last month and 5.84 per cent in July 2013. Inflation in the overall food articles...
  • Crony capitalism hampers economic growth: RBI governor August 11, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan on Monday came out strongly against "crony capitalism", saying it kills transparency and competition and hence is harmful to free enterprise, opportunity and economic growth. "By killing transparency and competition, crony capitalism is harmful to free enterprise, opportunity, and economic growth," Rajan said, delivering a...