RBI

  • Easing inflation provides room for rate cut by RBI: Jaitley Yesterday

    New Delhi: Making a case for rate cut by RBI, Finance Minister Arun Jaitley on Saturday said that retail inflation is expected to remain close to 5 per cent which allows further easing of monetary policy. The government would soon put in place a monetary policy framework to ensure that inflation...
  • Rationalisation of taxes must to bring in more investment to India: Panagariya Yesterday

    NITI Aayog Vice Chairman Arvind Panagariya said rationalisation of taxes is a must to bring in more investment to India. He said, "Tax rationalisation is a must to increase investment into India. The RBI should continue cutting rates." ...
  • Rupee hits fresh 3-week high, gains 22 paise to end at 61.75 vs US dollar 4 days ago

    Mumbai: Bucking a weak trend in Indian stocks, the rupee on Thursday surged by 22 paise to close at a fresh three-week high of 61.75 against the US currency on persistent selling of dollars by banks and exporters. Debt-related inflows also continued to support the rupee which rose for the third...
  • Raghuram Rajan went by majority opinion of advisors on RBI policy rate 4 days ago

    Mumbai: RBI Governor Raghuram Rajan went by the majority suggestion of the central bank's external advisors to wait for signals from the Union Budget before reducing key interest rate, although three of the seven members were for a cut of 25-75 basis point. In the 6th...
  • RBI warns banks against making 'mockery' of its lending operations February 20, 2015

    Mumbai: The Reserve Bank of India (RBI) is getting tougher on extending unlimited credit to the country's banks to try to ensure they push interest rate cuts through the financial system and to stop them from making what one official called a "mockery" of its operations. India's commercial banks readily borrow...
  • Sahara moves Supreme Court for extension of facilities to Subrata Roy in jail by 6 weeks February 17, 2015

    New Delhi: Supreme Court on Tuesday expressed concern over how Sahara Group would raise money to secure its chief Subrata Roy's release, as the group sought extension of facilities inside Tihar jail premises by four to six weeks to enable him negotiate deals with prospective buyers. The apex court expressed concern...
  • RBI to soon put one rupee notes in circulation again February 14, 2015

    Mumbai: After a gap of about two decades, the RBI will again put in circulation rupee one notes soon. Printing of one rupee note was discontinued about 20 years ago. "These currency notes are legal tender as provided in the Coinage Act 2011. The existing currency notes in this denomination...
  • Raghuram Rajan for raising tax exemption limit from Rs 1.5 lakh February 4, 2015

    Mumbai: Days ahead of the Budget, Reserve Bank Governor Raghuram Rajan on Wednesday pitched for increasing the tax exemption limit on financial investments by individuals from Rs 1.5 lakh a year. Acknowledging that there was a Rs 50,000 increase in the limit in the last budget to Rs 1.5 lakh...
  • Inflation still a concern, says Raghuram Rajan February 4, 2015

    Mumbai: A day after keeping interest rates unchanged, RBI Governor Raghuram Rajan on said inflation is still a concern for the central bank and the monetary policy continues being "conventional". "We still have concerns over inflation. So, given the deflationary environment elsewhere, it is actually easier for us because we...
  • RBI Governor Raghuram Rajan keeps repo rates unchanged in the policy review February 3, 2015

    RBI Governor Raghuram Rajan has kept repo rates unchanged in the policy review. RBI says GDP growth is likely to rise to 6.5 per cent by 2016. Inflation will be at 6 per cent by January 2016. Sources say RBI may choose to announce a rate cut only after budget...
  • RBI keeps Repo Rate unchanged at 7.75%, Reverse Repo Rate stays at 6.75% February 3, 2015

    In its sixth bi-monthly Monetary Policy review, the Reserve Bank of India left rates unchanged. However, it announced a cut in SLR by 50 bps from 22 per cent to 21.5 per cent of their NDTL with effect from the fortnight beginning February 7, 2015. As a result, policy repo...
  • India expected to keep interest rates steady until after budget February 3, 2015

    Mumbai: Having cut its policy interest rate just three weeks ago, the Reserve Bank of India (RBI) is expected to hold rates steady at a policy review on Tuesday, leaving its next move until after the government presents its annual budget at the end of this month. The timing of the...
  • Economic growth revised up by almost 50 per cent January 31, 2015

    New Delhi: India's economy grew almost 50 per cent faster in 2013/14 than earlier thought, the government said on Friday after changing a formula, a reminder of the challenges that unreliable statistics present to Indian policymakers. In the year leading up to the elections that brought Prime Minister Narendra Modi to...
  • If mobile numbers can be ported why not bank accounts, says RBI January 29, 2015

    Mumbai: As technological advancements continue to change the world of finance and banking, Reserve Bank Deputy Governor SS Mundra on Thursday called upon bankers to "reinvent themselves" if they want to remain relevant. "If there is a cloud-funding, if there is P2P lending today, then what is the role of...
  • RBI asks banks to disclose more credit data to borrowers January 22, 2015

    Mumbai: The Reserve Bank of India (RBI) on Thursday asked banks to disclose more information on lending rates and fees for greater transparency to customers from April 1 on their websites. The RBI said banks must display the range of interest rates on loans for the past quarter for different categories...
  • RBI asks banks to review minimum lending rate every quarter January 19, 2015

    Mumbai: The Reserve Bank on Monday asked banks to notify the base rate, or the minimum lending rate, at least once in every three months based on cost of funds, a move seen as a nudge to lenders to pass on changes in policy rate to borrowers. The direction comes...
  • RBI rate cut decision 'turning point', will boost growth: Arun Jaitley January 16, 2015

    New Delhi: Finance Minister Arun Jaitley on Friday described the decision of RBI to cut key policy rate by 0.25 per cent as an "important turning point" and hoped it would engender faster growth. "After two years that interest rates are going to move downwards and...
  • India @ 9 with Zakka Jacob January 15, 2015

    Catch the day's top stories with Zakka Jacob on India @ 9. ...
  • News 360: Kiran Bedi joins BJP, to contest Delhi Assembly elections January 15, 2015

    The BJPs mission Delhi got a shot in the arm, when former top cop and once close Anna aide Kiran Bedi joined the party on Thursday. Kiran Bedi who may well be the face of the BJP will be pitted against her one time collegue Arvind Kejriwal and his Aam...
  • EMIs to fall as banks ready to cut interest rates after RBI's surpise move January 15, 2015

    New Delhi: Soon your EMIs are going to come down with several banks going ahead with a reduction in their interest rates after the Reserve Bank of India itself cut rates in a surprise inter-meeting move on Thursday. United Bank of India on Thursday said it would cut its base rate...
  • RBI surprises by cutting repo rate by 25 basis points, hints lowering rates further January 15, 2015

    New Delhi: The Reserve Bank of India cut its repo interest rate by 25 basis points to 7.75 per cent in a surprise move on Thursday, making its first reduction in a year as inflation showed signs of slowing and the government was making efforts to contain the fiscal deficit. The...
  • Nifty ends at 8494, Sensex soars 729 points January 15, 2015

    Mumbai: The market has ended with some very strong gains. The Sensex was up 728.73 points or 2.7 per cent at 28075.55, and the Nifty ended up 216.60 points or 2.6 per cent at 8494.15. About 1693 shares advanced, 1206 shares declined and 322 shares were unchanged. Banks led...
  • RBI cuts repo rate by 25 basis points to 7.75% with immediate effect January 15, 2015

    Mumbai: The Reserve Bank of India on Thursday surprised the market by cutting repo rate by 25 basis points to 7.75 per cent from 8 per cent, with immediate effect, ahead of its policy review on February 3. "Households' inflation expectations have adapted, and both near-term and longer-term inflation expectations...
  • A rate cut seems to be on the anvil soon: Finance Ministry January 14, 2015

    The Finance Ministry has said that there is no reason why a rate cut cannot happen when RBI reviews policy on February 3. They say slower than expected pace of inflation has given RBI enough elbow room. ...
  • RBI governor Raghuram Rajan named as the 'governor of the year' in Central Banking Awards 2015 January 13, 2015

    Mumbai: RBI chief Raghuram Rajan has been named as the "governor of the year" in the Central Banking Awards for 2015 by a British magazine for "his deep understanding of the root causes of economic problems of the country combined with an impressive leadership style." The British magazine Central Banking,...
  • SC allows Sahara group's proposed loan transaction from abroad for raising funds January 9, 2015

    New Delhi: In a relief for Subrata Roy, the Supreme Court on Friday allowed the Sahara Group to go ahead with its proposed loan transaction from abroad for raising funds to ensure release of Subrata Roy from jail. As per court's directions Sahara Group will have to seek permission from Reserve...
  • RBI asks coop banks to set up panel for monitoring fraud cases January 7, 2015

    Mumbai: The Reserve Bank has directed all primary (urban) cooperative banks to set up a special committee for monitoring and following up cases of frauds of Rs 1 crore and above. "It has... been decided that the Boards of banks should constitute a Special Committee for monitoring and following up...
  • Banks need more autonomy to make commercial decisions: Arun Jaitley January 3, 2015

    On the day two of the Bankers meet in Pune, Finance Minister Arun Jaitley on Saturday said, "There are unacceptable levels of NPAs in some cases, and the banks have to be given a sufficient amount of leeway to deal with commercial issues with a commercial mindset." ...
  • Finance Minister Arun Jaitley denies pressuring RBI to cut rates December 30, 2014

    Mumbai/ New Delhi: Finance Minister Arun Jaitley denied on Tuesday that he was pressuring the Reserve Bank of India (RBI) into cutting interest rates, after his comment that the high cost of capital was stifling investment sent markets into a tizzy. Jaitley, in a speech in Delhi on Monday, said "costly...
  • Arun Jaitley rejects Raghuram Rajan's criticism of 'Make in India' December 29, 2014

    New Delhi: Rejecting RBI Governor Raghuram Rajan's criticism of 'Make in India' programme, Finance Minister Arun Jaitley on Monday said it is about manufacturing of quality products at low costs and it was not relevant whether they are sold in India or abroad. "Whether Make...