Rbi

  • RBI notifies increased PPF deposit limit of Rs 1.5 lakh/year 1 week ago

    Mumbai: The Reserve Bank on Friday notified the increase in deposit money under Public Provident Fund (PPF) to Rs 1.5 lakh from Rs 1 lakh earlier. "We forward herewith a copy of the Government of India Notification...The Government of India, vide this Notification, has enhanced the individual subscription limit under the...
  • RBI to issue Rs 1,000 banknotes within MG series-2005 August 15, 2014

    Mumbai: The Reserve Bank will soon issue Rs 1,000 denomination banknotes with inset letter R in the Mahatma Gandhi Series-2005. "The Reserve Bank will shortly issue Rs 1,000 denomination Banknotes incorporating rupee symbol, with 'R' inset letter, in the Mahatma Gandhi Series-2005," the RBI said in a notification. The year of printing...
  • RBI reduces free cross-bank ATM transactions to 3 per month in metros August 14, 2014

    New Delhi: The Reserve Bank of India reduced free usage of other bank automated teller machines (ATMs) to three per month from five as the number of such machines has increased to 160,000 by March-end from 27,000 seven years earlier, it said on Thursday. The reduction will, however, not be applicable...
  • RBI, Cabinet Secretary scrutinising appointments of PSB chiefs August 14, 2014

    New Delhi: Close on the heels of Syndicate Bank Chairman's arrest for alleged graft, Finance Minister Arun Jaitley on Thursday said government will deal with PSU lenders sternly and is scrutinising recent appointments of bank heads. "Time has come to be strict with PSU banks. I have urged the Cabinet Secretary...
  • No one else but Mahatma Gandhi on currency notes: Raghuram Rajan August 12, 2014

    Mumbai: As speculation swirled about various names for Bharat Ratna, Reserve Bank Governor Raghuram Rajan on Monday said that nobody but Mahatma Gandhi should feature on the currency notes. "There are so many great Indians, but of course he (Gandhi) stands above head and shoulders above every one. There are many...
  • Rajan says western governments must do more to revive economies August 12, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan on Monday said he would like the political systems in developed countries to do more rather than depending on monetary policies to boost their sagging economies. "My colleagues in industrial countries are trying too hard (to revive their economies), and I would prefer monetary policy...
  • Arun Jaitley nudges RBI to cut rate to boost growth August 10, 2014

    New Delhi: Nudging the Reserve Bank of India to cut interest rates to boost growth, Finance Minister Arun Jaitley on Sunday said that he had already made his mind clear and hoped the central bank will take decision after taking into account various factors. The RBI had maintained status-quo on interest...
  • RBI's tough inflation stance risks stand-off with Modi government August 9, 2014

    Mumbai/New Delhi: Reserve Bank of India (RBI) Governor Raghuram Rajan has set himself a target of lowering consumer inflation and is even ready to raise rates to achieve it, risking friction with the new government if he is seen as overstepping. Rajan, well known within the RBI for pragmatism, now must...
  • RBI revises guidelines on mortgage guarantee companies August 8, 2014

    Mumbai: The Reserve Bank on Friday revised guidelines for mortgage guarantee companies and said that guarantees provided by them may be treated as contingent liabilities, for which credit conversion factor would be 50 per cent. "While calculating capital adequacy of MGCs, mortgage guarantees provided may be treated as contingent liabilities and...
  • India's central bank governor warns of global market 'crash' August 7, 2014

    Mumbai: India's central bank governor Raghuram Rajan says global markets are at risk of a "crash" should investors start bailing out of risky assets created by the loose monetary policies of developed economies. The comments, carried in an interview with Central Banking Journal, reiterate Rajan's previous warnings that emerging markets were...
  • India no longer a problem economy: Raghuram Rajan August 5, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan on Tuesday said India has emerged from the perception of being in crisis and has placed itself as a better place to remain invested. "I keep telling the international fora that India is not a problem any more. I think there was a perception problem...
  • RBI keeps repo rate unchanged, cuts SLR for banks by 0.5 pc August 5, 2014

    Mumbai: The Reserve Bank of India (RBI) kept its key policy repo rate unchanged on Tuesday as widely expected, but warned about inflationary risks should a shortfall in monsoon rains spark a surge in food prices. The RBI also lowered banks' minimum bond holding requirements, known as the statutory liquidity ratio...
  • RBI to unveil credit policy review, interest rate may remain unchanged August 5, 2014

    The Reserve Bank of India will come out with its credit policy review on Tuesday. It is likely to maintain status quo on interest rate in its bi-monthly monetary policy review. The central bank may prepare ground for an easier rate regime by introducing some liquidity enhancing measures. In spite...
  • Arun Jaitley to address RBI board on August 9 July 27, 2014

    New Delhi: Finance Minister Arun Jaitley will address the board of the Reserve Bank in the national capital on August 9 amid expectations that the central bank will complement government actions by reducing rates to boost growth. "The meeting has been scheduled for August 9 where he would be addressing...
  • RBI issues draft guidelines for setting up small, payment banks July 17, 2014

    New Delhi: A week after Budget announcement, the Reserve Bank on Thursday issued draft guidelines for setting up of 'local feel' small banks, which will disburse small-ticket loans to farmers and businesses. The central bank also issued draft guidelines for setting up of payment banks, which will cater to marginalised sections...
  • Farm loan rescheduling in AP, Telangana yet to get RBI nod July 14, 2014

    Hyderabad: The Reserve Bank of India is yet to give its approval for the proposed rescheduling of farm loans in Andhra Pradesh and Telangana, its Deputy Governor R Gandhi said on Monday. Contrary to claims made by the Andhra Pradesh government that RBI had agreed to the farm loan rescheduling, Gandhi...
  • Modi's farm export curbs may ease India's June inflation July 14, 2014

    New Delhi: India's inflation probably eased marginally in June after the new government curbed farm exports, but a growing risk that drought will shrivel summer crops could encourage the Reserve Bank of India to keep interest rates on hold. Prime Minister Narendra Modi, elected in May amid anger over rising prices,...
  • RBI Governor launches Indian Bank's mobile branches July 12, 2014

    Chennai: As part of the urban financial inclusion initiative by public sector Indian Bank, two mobile branches with ATM facility was launched by RBI Governor Raghuram G Rajan. Rajan recently launched two mobile branches with ATM facility to provide banking services in areas of Royapuram, Tiruvotriyur, Tondiarpet in North Chennai...
  • Government, RBI to devise modern monetary policy framework July 10, 2014

    New Delhi/Chennai: With prices staying at stubbornly high level, the government and the RBI on Thursday agreed to devise a modern monetary policy framework with clear inflation targeting. The tone for inflation targeting was set by Finance Minister Arun Jaitley in his budget speech when he stressed on a modern monetary...
  • Raghuram Rajan says too early to declare victory over NPA battle July 10, 2014

    Chennai: Reserve Bank Governor Raghuram Rajan on Thursday said it is too early to declare victory over the high non-performing assets in the system, which will improve only with an uptick in growth expected during this fiscal. "I think, the most immediate problem we have to confront is that of rising...
  • Rupee rebounds 23 paise Vs US dollar to end at 59.78 July 8, 2014

    Mumbai: In contrast to falling equities, the rupee on Tuesday recovered 23 paise to end at 59.78 against the dollar after exporters and some banks sold the US currency. On Monday, the rupee fell by 29 paise -- logging its biggest drop in nearly three weeks. The Indian rupee on Tuesday...
  • Iraq crisis led to rupee depreciation: Government July 8, 2014

    New Delhi: The recent Iraq crisis has led to marginal depreciation of the rupee and government is calibrating "appropriate policy responses" to cope with the situation, Parliament was informed on Tuesday. "Since the escalation of the Iraq crisis in the second week of June 2014, the exchange rate of the rupee...
  • Rupee drops most in nearly 3 weeks, down 29 paise as US dollar demand rises July 7, 2014

    Mumbai: The rupee on Monday slipped 29 paise, logging its biggest drop in nearly three weeks, to end at 60.01 versus the dollar on rising demand for the US currency from custodian banks. The rupee fell despite the stock benchmark Sensex ending above the 26,000-level for the first time in its...
  • Bharti Airtel gains; RBI allows increase in FII limit July 4, 2014

    Shares in Bharti Airtel Ltd(BRTI.NS) gain after the Reserve Bank of India (RBI) increases limit for overseas investors to buy shares in the company. Foreign institutional investors can now invest up to 74 percent in Bharti Airtel under the portfolio investment scheme, the RBI said in a statement late on Thursday. The...
  • 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...
  • UN special envoy hails RBI's work on financial inclusion July 2, 2014

    Mumbai: Visiting Dutch queen Maxima, who is also the UN Secretary General's Special Advocate for Inclusive Finance for Development, praised the Reserve Bank of India's (RBI) work on financial inclusion. "(The RBI has) one of the most comprehensive and forward looking visions on financial inclusion around the globe," the UN special...
  • Poverty definition immaterial for financial services: Raghuram Rajan July 2, 2014

    Mumbai: As the debate over the definition of poverty continues, Reserve Bank of India Governor Raghuram Rajan on Wednesday said that descriptions don't matter when it comes to financial services, which are unavailable for a large number of people. "It doesn't matter that we have a precise definition. There's so much...
  • 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...
  • Stable government brightens recovery hopes: RBI June 26, 2014

    Mumbai: The Reserve Bank of India on Thursday said improved political stability and expectations of a decisive and coordinated policy response augur well for the economy and the markets. "Formation of a stable government at the Centre has ameliorated political risk and has led to expectations of better policy coordination and...
  • Will we ever get to know who are the real beneficiaries of black money stashed abroad? June 23, 2014

    The Reserve Bank of India on Monday directed all banks and financial institutions to provide information and documents sought by the Special Investigation Team (SIT) set up to unearth black money. ...