Rbi

  • ICICI reports deposit of Rs 10 cr fake currency notes over several years 09-04-2014 08:15 AM

    Country's largest private sector bank ICICI Bank has lodged an FIR alleging fake currency notes with a face value Rs 10 crore were deposited in its different branches in the past several years. Regional Head of ICICI Bank Manish Pandey lodged an FIR at Hazratganj police station alleging that fake...
  • Finance Ministry rejects RBI plan to split CMD's post in PSU banks 08-04-2014 06:11 PM

    New Delhi: The Finance Ministry has turned down the Reserve Bank's proposal to bifurcate the post of Chairman and Managing Director in public sector banks saying this position doesn't enjoy absolute powers as is being claimed by some international experts. Rejecting the RBI's proposal to restructure the board of PSU...
  • Economy to boost mkt in long-term; current rally poll-driven 03-04-2014 06:44 PM

    Though the outcome of the general elections will offer a short-term boost to the market, a sustained rally will be determined by the economic data, according to a JP Morgan Asset Management report. "Although investors are eagerly awaiting the results of the general elections as a catalyst to boost market...
  • 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...
  • SBBJ revises FCNR(B) deposit interest rates 01-04-2014 10:57 PM

    State Bank of Bikaner and Jaipur (SBBJ) on Tuesday revised its FCNR(B) rates for fresh deposits and renewals. The new rates for one to five years maturities are 2.56 per cent, 2.59 per cent, 4.05 per cent, 4.48 per cent, and 4.85 per cent for US dollar, a bank release...
  • 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)...
  • Full text: First 2014-15 bi-monthly Monetary Policy Statement 01-04-2014 11:12 AM

    The Reserve Bank of India on Tuesday released it bi-monthly monetary statement keeping the repo rate unchanged at 8 per cent. The CRR has been kept at 4 per cent. Here is the full text of first bi-monthly Monetary Policy Statement: Monetary and Liquidity Measures On the basis of an...
  • 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...
  • Sensex at fresh record high as RBI keeps rates unchanged 01-04-2014 09:26 AM

    Mumbai: Beginning the new fiscal year on a high note, the BSE benchmark Sensex on Tuesday rose by 60.17 points to all-time closing high of 22,446.44 in a volatile session after the RBI kept key policy rates unchanged. The 30-share index continued its record setting spree for the seventh session...
  • 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...
  • Banks, ATMs may be hit as Windows XP support ends in April 19-03-2014 11:03 PM

    Mumbai: Banking operations, including ATM services, may be hit as support from Microsoft for Windows XP operating system will end from April 8, the RBI said on Wednesday asking banks to take immediate steps to control this. The end of support for Windows XP is likely to increase the probability...
  • Chidambaram to discuss United Bank crisis with RBI Governor 05-03-2014 05:36 PM

    New Delhi: Finance Minister P Chidambaram on Wednesday said he will discuss United Bank of India's bad loan crisis with the Reserve Bank Governor later this week. "United Bank is a special case. We will deal with that. It's not an alarming case...UBI issue will be discussed separately when the...
  • Inflation views aligned with government, says Raghuram Rajan 24-02-2014 06:12 PM

    Reserve Bank of India (RBI) Governor Raghuram Rajan said the government and the Reserve Bank of India (RBI) shared similar views on inflation management, while reiterating a call for the US Federal Reserve to be more sensitive to emerging economies. Rajan's comments, in an interview with CNBC, come after Finance...
  • RBI will need to keep raising policy interest rate: IMF 22-02-2014 09:41 AM

    Mumbai: The Reserve Bank of India will need to continue raising its policy interest rate given the sticky nature of inflation, the International Monetary Fund said on Thursday. "The ingrained nature of inflation and inflation expectations mean that reducing inflation - even over a protracted horizon - will require significant...
  • State Bank of India may slow hiring in next few years 19-02-2014 06:12 PM

    State Bank of India, the country's largest lender, may go slow on recruitment during the next 2-3 years, a top bank official said on Wednesday. According to A Krishna Kumar, Managing Director, the bank will try to maintain the employee strength at current levels even as it keeps expansion programmes...
  • PMO forms ministerial group on consolidated FDI policy, first meet tomorrow 19-02-2014 03:39 PM

    The Prime Minister's Office has set up an Inter Ministerial Group (IMG) headed by the Industry Secretary to simplify the language of the policy on foreign direct investment. The group, headed by Department of Industrial Policy and Promotion (DIPP) Secretary Saurabh Chandra, will hold its first meeting on Thursday, an...
  • Food inflation still remains a worry, says Chidambaram 17-02-2014 12:27 PM

    New Delhi: Finance Minister P Chidambaram on Monday said both the government and the RBI have acted in tandem to bring down price rise, even as food inflation at 8.8 per cent still remains a worry. "Both the government and RBI have acted in tandem (to bring down inflation). While...
  • Will wait for full and legitimate Budget in July: Gokarn 14-02-2014 05:19 PM

    New Delhi: With Vote on Account getting closer, experts debate if Finance Minister P Chidambaram will use the opportunity to announce changes in taxes and subsidies, a clear departure from standard practice. Speaking to Sonia Shenoy on CNBC-TV18, former RBI deputy governor and current directior at Brooking India Subir Gokarn...
  • Use social media as listening post to pick up frauds: Raghuram Rajan 12-02-2014 05:46 PM

    With instances of online financial frauds on the rise, Reserve Bank Governor Raghuram Rajan on Wednesday mooted the idea of using the social media by the regulator as a tool to pick-up wrongdoings. "Can we enlist social media in enabling the public to identify fraud and can we as regulators...
  • No decision on setting up of 'Payments Banks' yet: Raghuram Rajan 12-02-2014 12:50 PM

    A decision on setting up 'Payments Banks' or specialised banks to provide services to small businesses will be taken only after looking into various aspects including arbitrage issues, RBI Governor Raghuram Rajan said on Wednesday. "At this point there is no decision to move forward. We will look at it...
  • Role of serendipity and Rajan's journey to Mint Street 12-02-2014 07:25 AM

    Mumbai: He took over as RBI Governor barely six months ago, but Raghuram Rajan on Tuesday confessed that he had expressed his desire to head the central bank one day decades ago while studying at the IIM-Ahmedabad. "I want to highlight the role of serendipity - in terms of three...
  • January inflation seen easing on food, fuel prices but still elevated 11-02-2014 11:19 AM

    India's high inflation probably eased to a seven-month low last month as food and fuel prices showed signs of moderating, providing some respite to the Reserve Bank of India which has been hiking interest rates to curb soaring prices, Reuters polls showed on Tuesday. Ominously, though, factory activity likely contracted...
  • Fraud cases of Rs 6,175 cr reported by PSU banks till January 2014 07-02-2014 04:56 PM

    New Delhi: Public sector banks have reported fraud cases of Rs 1 lakh and above amounting to Rs 6,174.83 crore till January during the 2013-14 financial year, Parliament was informed on Friday. For the entire 2012-13, such cases had amounted to Rs 8,232.67 crore; Rs 4,069.80 crore in 2011-12 and...
  • Conditions getting into place for strong economic growth: RBI Governor 31-01-2014 01:26 PM

    Reserve Bank of India Governor Raghuram Rajan has the tough job of making sure that inflationary pressures are kept under check though monetary policy reviews. IN an exclusive interview to Karan Thapar on Devil's Advocate, Rajan admitted that Indian economy was passing through a rough phase but expressed confidence that...
  • 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...
  • UPA bows down to Rahul, hikes LPG cap from 9 to 12; RBI not impressed 30-01-2014 09:47 PM

    New Delhi: A fortnight after Congress Vice President Rahul Gandhi made the pitch to Prime Minister Manmohan Singh at the All India Congress Committee meet, the Central government has bitten the bullet on subsidised LPG cylinders even though it will push the subsidy bill much higher. The Union Cabinet on...
  • 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...
  • Markets need not worry about Fed taper, Government vigilant: Chidambaram 30-01-2014 12:24 PM

    The Finance Ministry today said the US Federal Reserve's decision to trim its monetary stimulus will not affect the Indian markets and all steps would be taken by the RBI and the government to ensure financial stability. "Both the government of India and the Reserve Bank of India will continue...
  • India @ 9 with Rajdeep Sardesai 28-01-2014 10:44 PM

    Catch the day's top stories with Rajdeep Sardesai on India @ 9. ...