Reserve Bank

  • Exclusive: Not worried about rupee overvaluation right now, says Rajan 02-04-2014 02:41 PM

    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 01-04-2014 06:34 PM

    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)...
  • RBI keeps Repo Rate unchanged at 8 pc, CRR at 4 pc 01-04-2014 11:09 AM

    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...
  • RBI set to announce annual monetary policy today, no changes likely 01-04-2014 09:04 AM

    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 31-03-2014 03:41 PM

    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...
  • RBI grants 9 more months to exchange notes printed before 2005 03-03-2014 07:36 PM

    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...
  • RBI committed to "strongest growth possible": Rajan 26-02-2014 11:34 PM

    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...
  • Hike in LPG cap a misdirected subsidy: RBI Governor Raghuram Rajan 30-01-2014 09:49 PM

    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 30-01-2014 06:25 PM

    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 28-01-2014 06:03 PM

    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...
  • RBI hikes repo rate by 25 bps, keeps CRR unchanged at 4 pc 28-01-2014 11:11 AM

    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...
  • RBI to announce 3rd quarter monetary policy review today 28-01-2014 09:20 AM

    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 26-01-2014 11:23 AM

    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...
  • RBI to withdraw all pre-2005 currency notes from March 31 22-01-2014 07:48 PM

    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...
  • Rupee gains, closes at 61.81 vs US dollar 22-01-2014 06:55 PM

    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...
  • Nitish Kumar seeks effective steps from Raghuram Rajan to boost bank CD ratio 21-01-2014 10:22 PM

    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...
  • RBI panel calls for bank accounts for all adults by January 2016 07-01-2014 08:01 PM

    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...
  • India's foreign exchange reserves drop by $12.6 mn 28-12-2013 04:39 PM

    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...
  • RBI Mid-Quarter Monetary Policy Review: December 2013 18-12-2013 10:59 AM

    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...
  • RBI to release policy review today, likely to hike repo rate 18-12-2013 09:03 AM

    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...
  • November WPI inflation rises to 14-month high of 7.52 per cent 16-12-2013 01:09 PM

    New Delhi: Costly vegetables, particularly potato and onion, pushed the November wholesale inflation to a 14-month high of 7.52 per cent, making it difficult for the Reserve Bank to ease key policy rate. Vegetable prices shot up by 95.25 per cent in November as compared to 78.38 per cent in...
  • Tata Sons withdraws its bank licence application: RBI 27-11-2013 05:54 PM

    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...
  • SC notice to RBI, EC, Centre on PIL to delink subsidised LPG from UID 19-11-2013 11:14 AM

    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...
  • GDP growth seen between 5-5.5 pc in 2013/14, says Chidambaram 15-11-2013 09:18 PM

    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...
  • Full text: Review of RBI's second quarter monetary policy of 2013-14 29-10-2013 12:35 PM

    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...
  • RBI hikes repo rate by 25 basis points, CRR unchanged 29-10-2013 11:22 AM

    New Delhi: The Reserve Bank of India on Tuesday hiked repo rate by 25 basis points from 7.50 per cent to 7.75 per cent. The RBI has kept the Cash Reserve Ratio (CRR) unchanged at 4 per cent. With the rupee having stabilised, the RBI lowered its Marginal Standing Facility...
  • Rupee closes flat; RBI rate decision key 25-10-2013 08:14 PM

    The rupee ended flat on Friday, but extended losses for a second week, as caution set in ahead of an expected interest rate hike by the central bank at its policy review next week. The Reserve Bank of India is widely expected to raise its key repo rate by 25...
  • Wholesale, retail inflation up in September; rate cut hope fades 14-10-2013 08:45 PM

    Indicating worsening of the price situation, inflation - wholesale as well as retail - went up in September because of costlier food items, especially onion and vegetables, dimming the prospects of rate cut by RBI later this month to boost the sagging economy. While the Wholesale Price Index (WPI) based...
  • Increasing diesel prices one way to control fiscal deficit: Rajan 08-10-2013 07:38 PM

    In a no-holds-barred interview, which is also the first since he assumed office as governor of Reserve Bank of India, Raghuram Rajan spoke about subjects ranging from inflation to rupee to credit growth to foreign investments to the contentious Diwali Bonanza scheme of the government. He dismissed metaphors such as...
  • RBI trims short-term rate as rupee pressure eases 08-10-2013 10:18 AM

    The Reserve Bank of India on Monday cut a key overnight interest rate, further dialling back an emergency measure it had imposed in mid-July in order to defend the embattled rupee that had tightened market liquidity and pushed up borrowing costs. The move to cut the marginal standing facility (MSF)...