RBI

  • MSMEs should get easier finance from banking system: BJP 6 days ago

    New Delhi: Micro, Small and Medium Enterprises should get easier finance from the formal banking system, senior BJP leader Murali Manohar Joshi said on Tuesday. "Small and medium scale industries are doing 70 per cent production of the country. If they do not remain in good health, the country's economy...
  • Inflation drops to 5-year low of 2.38 per cent in September 6 days ago

    New Delhi: Continuing decline in food prices, including vegetables, pulled down the September wholesale price inflation to a five year low of 2.38 per cent. The Wholesale Price Index (WPI) based inflation was at 3.74 per cent in August and 7.05 per cent in September 2013. ...
  • RBI's fresh agility helps tame India's money market volatility October 9, 2014

    Mumbai: The Reserve Bank of India (RBI) has finally made progress in taming the country's volatile money markets, displaying two traits it has been rarely associated with in the past: flexibility and a willingness to correct course mid-way. The overnight cash rate, a key indicator of liquidity, has recovered from a...
  • Indian economy to see better growth momentum October 8, 2014

    London: The Indian economy is projected to see a pick up in growth momentum while most of the other major economies are anticipated to see stable prospects, Paris-based think tank OECD said on Wednesday. Only India is anticipated to witness better growth momentum among the...
  • Finance Ministry, RBI to decide on monetary policy framework by December end October 7, 2014

    New Delhi: The Finance Ministry and the RBI will finalise a new monetary policy framework by December end under which the central bank will pursue the retail inflation target to be decided by the government. According to official sources, the internal work for the new...
  • RBI has no bias either to cut or hike rates: Raghuram Rajan October 1, 2014

    Mumbai: The Reserve Bank has no bias either to cut or hike the key rates and the direction of the monetary policy will be influenced entirely by data, Governor Raghuram Rajan said on Wednesday. "Our policy stance today is reasonable and we see no reason to alter it today based on...
  • RBI unveils more measures to deepen trading in bond market September 30, 2014

    Mumbai: To boost trading in bonds, RBI on Tuesday said that it will gradually lower the ceiling on government securities that can be held-to-maturity (HTM) by banks to 22 per cent, from 24 per cent, beginning January. The apex bank also announced it will extend the period that foreign investors...
  • Coalgate: System has flexibility to deal with loans, says Raghuram Rajan September 30, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan on Tuesday said that there is already "fair amount of flexibility" in the system to deal with loans impacted by the Supreme Court order to de-allocate 214 coal blocks. "I will reiterate that whenever we have issues of flexibility coming up, the real issue...
  • System has flexibility to deal with loans: Raghuram Rajan on Coalgate September 30, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan on Tuesday said there is already "fair amount of flexibility" in the system to deal with loans impacted by the Supreme Court order to de-allocate 214 coal blocks. "I will reiterate that whenever we have issues of flexibility coming up, the real issue is putting...
  • Full text: RBI's fourth bi-monthly monetary policy review September 30, 2014

    New Delhi: Reserve Bank Governor Raghuram Rajan on Tuesday left all key rates unchanged citing continued risks to inflation and difficult external situation especially on the geopolitical front. Here is the full text of the report: ...
  • Reserve Bank of India keeps key rates unchanged September 30, 2014

    New Delhi: The Reserve Bank of India did not spring up any surprise move in its fourth bi-monthly monetary policy review. The central bank has kept key rates unchanged. This is the fourth consecutive time that the RBI has kept key interest rates unchanged despite clamours from the industry to...
  • India Post suited to be payment bank: Financial Ministry September 29, 2014

    Mumbai: Lack of credit disbursing experience makes the postal department with its vast network of offices around the country better suited to be run as a payment bank and not as a full-fledged universal bank, a top Finance Ministry official said on Monday. "The Department of Posts may be considered...
  • SC order on coal block allocations: Banks to ask RBI for recasting loans September 29, 2014

    Mumbai: Acknowledging that the Supreme Court order on mass cancellation of coal block licences may impact banks' asset quality, a top Finance Ministry official on Monday said that the lenders will approach RBI for restructuring such assets. "Some impact may be there, and what exactly it will be is being...
  • Congress accuses Modi government of being anti-Maharashtra September 24, 2014

    Mumbai: Maharashtra Congress on Wednesday accused the Narendra Modi-led government of being biased against the state and claimed that the Centre was planning to reduce the importance of Mumbai as financial capital of the country and also shut down operations at the JNPT. State Industries Minister Narayan Rane said that three...
  • SBI accounts for half of mobile transactions in June: RBI September 18, 2014

    Mumbai: State Bank of India accounted for half of the total number of mobile transactions undertaken in June, while ICICI Bank became the first to surpass the Rs 1,000crore mark albeit with only a fifth of the registered users as the country's largest lender. State Bank of India's (SBI) account holders...
  • Ponzi schemes: Lawmakers quiz regulators, ministry officials September 18, 2014

    New Delhi: Lawmakers on Thursday quizzed officials of RBI, SEBI and the government about the steps being taken to avoid recurrence of fraudulent moneypooling activities like Saradha scam. The Parliamentary Standing Committee on Finance's meeting comes against the backdrop of CBI probing the Saradha scam in which thousands of crores or...
  • Andhra Pradesh government seeking funds to implement mega loan waiver September 17, 2014

    Hyderabad: Desperate to keep its prepoll promise of loan waiver to farmers, the Andhra Pradesh government is seeking funds from different quarters to go ahead with the financially debilitating scheme. "The Andhra Pradesh Government open for funds for rythu runamaafi (farmers' loan waiver)," an official statement said on Wednesday. As a...
  • RBI eases norms for issuance of equity shares under FDI September 17, 2014

    Mumbai: Easing foreign direct investment (FDI) norms, Reserve Bank has allowed companies to issue equity shares to a resident outside India against any type of fund subject to certain conditions. RBI reviewed the extant guidelines for issue of shares or convertible debentures under the automatic route and has permitted issue of...
  • Raghuram Rajan bats for more freedom to staterun banks September 15, 2014

    Mumbai: Batting for greater autonomy to staterun lenders, RBI Governor Raghuram Rajan on Monday said that the government should look at them as truly "independent entities" that take their own commercial decisions and not as an extended arm of the administration. He also said that while it was fine for the...
  • RBI Governor urges Centre to deregulate diesel prices September 15, 2014

    Mumbai:Even as the government is continuing with a phased deregulation of diesel prices, RBI Governor Raghuram Rajan has urged the Centre to completely deregulate diesel prices. Rajan on Monday said diesel price deregulation is especially important in the wake of rising global crude oil prices. "Deregulation will empower stateowned oil firms...
  • Blackmoney: SIT empowers Enforcement Directorate to check huge forex violations September 14, 2014

    New Delhi: To check largescale foreign exchange violations and generation of slush funds, a Special Investigation Team (SIT) on black money has asked RBI and Enforcement Directorate (ED) to jointly take on cases of huge exports outstanding. The SIT, for the first time, has authorised the ED to obtain regular information...
  • RBI may issue final norms on small, payments banks in 23 months September 14, 2014

    New Delhi: The Reserve Bank is likely to issue final guidelines on small and payments banks within 23 months, paving the way for corporates to enter these two segments. The final guidelines on small and payments banks are expected in the next 23 months, sources said. Draft guidelines for small and payments...
  • India's foreign reserves down $1.32 billion September 13, 2014

    Mumbai: India's foreign exchange reserves fell by $1.32 billion to $317.31 billion for the week ended September 5, Reserve Bank of India (RBI) data showed. The reserves had grown by $60.5 million to $318.64 billion for the week ended August 29. According to the RBI's weekly statistical supplement, foreign currency assets,...
  • Don't follow straightjacket approach on inflation: RBI September 11, 2014

    New Delhi: Reflecting differences within the Reserve Bank, noted economist and RBI's independent director Indira Rajaraman on Thursday said that the central bank should not follow a straightjacket approach of controlling inflation. "I think the RBI made things harder for itself by this straightjacket approach of committing themselves to inflation...
  • Kingfisher Airlines contests wilful defaulter tag September 9, 2014

    Mumbai: Debtridden Kingfisher Airlines on Tuesday contested UBI's decision to declare it as a wilful defaulter, saying that RBI guidelines in this regard do not apply to the company. The carrier, which has been grounded since October 2012, is also in the process of seeking legal...
  • Upper age limit for MD & CEO of a private bank is 70 years: RBI September 9, 2014

    Mumbai: The Reserve Bank of India on Tuesday fixed 70 years as the maximum age for a person to hold office of MD & CEO and other Whole Time Director (WTD) in a private bank as stipulated in the new Companies Act. "It has been decided that the upper age limit...
  • RBI allows ECB lenders to extend loans in rupees September 3, 2014

    Mumbai: Relaxing norms for external borrowings, the RBI today allowed ECB lenders can now extend loans in Indian Rupees to domestic businesses. "With a view to providing greater flexibility for structuring of external commercial borrowings (ECB) arrangements, it has been decided that recognised nonresident ECB lenders may extend loans in...
  • RBI notifies increased PPF deposit limit of Rs 1.5 lakh/year August 22, 2014

    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 series2005 August 15, 2014

    Mumbai: The Reserve Bank will soon issue Rs 1,000 denomination banknotes with inset letter R in the Mahatma Gandhi Series2005. "The Reserve Bank will shortly issue Rs 1,000 denomination Banknotes incorporating rupee symbol, with 'R' inset letter, in the Mahatma Gandhi Series2005," the RBI said in a notification. The year of printing...
  • RBI reduces free crossbank 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 Marchend from 27,000 seven years earlier, it said on Thursday. The reduction will, however, not be applicable...