To prevent the use of stolen cards, the Reserve Bank of India on Wednesday asked banks to consider issuing debit cards with photographs of the cardholders on them. "With a view to reducing the instances of misuse of lost/stolen cards, banks may consider issuing cards with photographs of the cardholder or any other advanced methods that may evolve from time to time," the RBI said while issuing guidelines for issuance...
07:44 PM, Dec 12, 2012
The Reserve Bank will shortly issue 100 denomination bank notes with inset letter L in the Mahatma Gandhi Series - 2005. These bank notes will carry inset letter 'L' in both the numbering panels bearing signature of RBI Governor D Subbarao, RBI said in a statement on Tuesday. ...
11:38 PM, Dec 11, 2012
The Indian banking system liquidity deficit is within comfort zone and the Reserve Bank of India will take more steps to address the deficit if needed, its Deputy Governor Subir Gokarn said on Friday. ...
12:20 PM, Dec 07, 2012
Reserve Bank Deputy Governor Subir Gokarn on Monday said the fiscal deficit is likely to be around 5.5 per cent of the GDP this financial year, which is creating stress on the inflation front. The Finance Ministry had recently revised its fiscal deficit target for the fiscal to 5.3 per cent for 2012-13, a tad above the budget estimate of 5.1 per cent. ...
10:48 PM, Dec 03, 2012
New Delhi: Notwithstanding the slight decline in Wholesale Price Index (WPI) inflation in October, inflationary pressures are likely to continue in the months ahead and may touch 8.2 per cent by the year end, says a report. According to a research note by Morgan Stanley, WPI inflation is likely to accelerate to around 8-8.2 per cent by December 2012 before moderating to the 7-7.5 per cent level by the quarter...
10:42 AM, Nov 18, 2012
Finance Minister P Chidambaram usually does not talk to the throng of news-hungry reporters and cameramen gathered outside the gates of the red sandstone colonial building which houses the finance ministry. A no comment or 'I don't have anything to say' suffices on an ordinary day. Tuesday, however, was not an ordinary day. Some two hours after the Reserve Bank of India announced it would leave the repo rate unchanged,...
12:13 AM, Oct 31, 2012
The RBI left interest rates unchanged on Tuesday but cut the cash reserve ratio for banks and indicated it may ease monetary policy further in the January-March quarter, although inflation remains a near-term concern. While the decision to leave the policy repo rate unchanged at 8.00 per cent. As inflation eases further, there will be an opportunity for monetary policy to act in conjunction with fiscal and other measures to ...
02:21 PM, Oct 30, 2012
New Delhi: The RBI left interest rates unchanged on Tuesday but cut the cash reserve ratio for banks and indicated it may ease monetary policy further in the January-March quarter, although inflation remains a near-term concern. While the decision to leave the policy repo rate unchanged at 8.00 per cent was in line with forecasts in a recent Reuters poll, expectations for a rate cut had grown after India's finance...
11:15 AM, Oct 30, 2012
All eyes are on the Reserve Bank of India on Tuesday as it reviews its credit policy. It is up against stubborn inflation. Will we see a cut in interest rates? CNBC-TV18's banking editor Lata Venketesh tells us what to expect. ...
09:30 AM, Oct 30, 2012
Tuesday: The Reserve Bank of India is set to announce the credit policy on Tuesday. There is almost a war cry out for a rate cut. A CNBC-TV 18 poll indicated that 80 per cent of the respondents see a CRR cut. Of this, 20 per cent see a 50 bps cut. On the repo, the market is divided with 50 per cent expecting a repo rate cut. A day...
08:31 AM, Oct 30, 2012
Mumbai: Notwithstanding inflation concerns, the Reserve Bank of India (RBI) may go in for a rate cut on Tuesday to promote growth, which according to a central bank-sponsored survey could slip to 5.7 per cent in the current fiscal. "Monetary policy needs to be cautious in the interim, focusing on inflation while using the available space to support growth to the degree it can," RBI said in its macroeconomic and...
08:23 PM, Oct 29, 2012
New Delhi: The Supreme Court has come to the government's rescue on Foreign Direct Investment (FDI) in the retail sector. The Supreme Court has asked the government to amend the Foreign Exchange Management Act (FEMA) regulations to implement FDI in retail. The court said that the RBI has till date not amended the regulation which will legitimise government's FDI policy. The government has now asked RBI to amend FEMA regulations...
01:56 PM, Oct 15, 2012
New Delhi: Even though Indian economy's growth declined to 6.5 per cent in 2011-12 and further to 5.5 per cent in the first quarter of this fiscal, it is no cause for undue worry, Finance Minister P Chidambaram said on Monday. "These are challenging times for global economy. They are affecting market sentiments everywhere," the finance minister said in his opening remarks at the annual Economic Editors' Conference in New...
11:50 AM, Oct 08, 2012
Mumbai: Acting on the cue from the Reserve Bank of India (RBI), the State Bank of India (SBI) on Tuesday announced a reduction in the minimum lending rate by 0.25 per cent, giving relief to all types of borrowers. "The cut in base rate was driven largely by the RBI's decision to cut the CRR yesterday," State Bank's Chairman Pratip Chaudhuri said late on Tuesday evening. The bank's Asset Liability...
11:06 PM, Sep 18, 2012
Mumbai: Tracking stock market movements, the rupee on Monday surged to 53.66 a dollar on robust capital inflows but pared some gains to close at 54.01 " still 29 paise higher " amid Reserve Bank infusing Rs 17,000 crore into system by way of a cut in Cash Reserve Ratio (CRR). At the Interbank Foreign Exchange (Forex) market, the rupee resumed sharply higher at 53.80 a dollar compared to last...
06:33 PM, Sep 17, 2012
New Delhi: The Reserve Bank's decision to cut the Cash Reserve Ratio by 0.25 per cent, the percentage of deposits banks keep with central bank, has received mixed response from India Inc, which has been demanding a reduction in interest rate to spur growth. Interest rates on home and car loans may ease despite the key policy rates left unchanged by the RBI which lowered the CRR by 0.25 per...
04:58 PM, Sep 17, 2012
New Delhi: Prime Minister's Economic Advisory Council (PMEAC) on Monday said the RBI move to infuse liquidity in the system is "more potent" than a cut in interest rate and it will help banks expand credit portfolio. "The RBI has taken a cautious step. The latest data on inflation has not been encouraging...Under the circumstances, I believe this (25 bps reduction in CRR) is the maximum the Reserve Bank could...
04:45 PM, Sep 17, 2012
The market was expecting the Reserve Bank of India to cut interest rates after the government announced some key policy reforms last week. But by keeping the repo rate unchanged at 25 basis points, the RBI has made it clear that it is more worried about curbing inflation in the short term. However, in a bid to ease liquidity in the system, the central bank has trimmed the cash reserve...
03:54 PM, Sep 17, 2012
New Delhi: The government on Monday welcomed with open arms the 25 basis points cut in the Cash Reserve Ratio (CRR) by the Reserve Bank of India (RBI) but said that it was still a small step. "The CRR cut by RBI is welcome. But it is a small step. We are not disappointed," said Finance Minister P Chidambaram. He said that the government expected more "supportive steps" from the...
12:50 PM, Sep 17, 2012
Mumbai: The Reserve Bank of India (RBI) in its mid-quarter monetary policy review on Monday kept the repo rate unchanged but cut the Cash Reserve Ratio (CRR) by 25 basis points (bps), a move that will likely infuse Rs 17,000 crore into the economy. The RBI will continue to target inflation in its credit policy. Following are the highlights of the mid-quarter monetary policy review announced by the RBI on...
12:23 PM, Sep 17, 2012
