RBI

  • Rupee gains 10 paise against dollar in early trade on Tuesday 5 hours 24 minutes ago

    Mumbai: The rupee recovered by 10 paise at 62.57 against the US dollar in early trade at Interbank Foreign Exchange on fresh selling of the American currency by exporters. The local currency had lost 26 paise to close at 62.67 due to renewed month-end demand from the dollar from importers. Forex dealers...
  • RBI proposes to reduce bank's exposure in corporate house 2 days ago

    Mumbai: With an aim to reduce risk in the banking sector, RBI has proposed to limit exposure of a bank to a business group to 25 per cent of its capital, down from the existing level of 55 per cent. "The sum of all the exposure values of a bank...
  • RBI moves to restrict bank exposure to corporate loans 2 days ago

    Mumbai: The Reserve Bank of India (RBI) has proposed to lower the ceiling on how much a bank can lend to a single corporate group, in a move to curb risks in the banking sector at a time when bad loans are on the rise. Under the proposal, banks would only...
  • Government to borrow Rs 3.6 lakh crore in first half of 2015-16 1 week ago

    New Delhi: The Union government will borrow Rs 3.6 lakh crore from markets in the first half of the next financial year, which is over 50 per cent of the annual target of Rs 6 lakh crore. "We will issue long-term bonds of 40 years in early next financial year....
  • RBI chief Raghuram Rajan backs removal of central bank's debt powers March 22, 2015

    New Delhi: Reserve Bank of India (RBI) governor, Raghuram Rajan, on Sunday cautiously backed a government plan to hand public debt management to a new agency, as the two sides played down reports of friction over the biggest regulatory shakeup in a generation. In February, the RBI formally adopted inflation targeting...
  • PDMA should be independent of government and RBI, says Raghuram Rajan March 22, 2015

    New Delhi: Public Debt Management Agency (PDMA) should be independent of the government as well as the central bank for ensuring fiscal discipline, RBI Governor Raghuram Rajan said on Sunday. "Public debt management agency as a professional organisation, independent of the central bank and government, that is something that is...
  • No disconnect between RBI and government, says Arun Jaitley March 22, 2015

    New Delhi: Scotching murmurs of differences between the government and the Reserve Bank of India over regulation of money market, Finance Minister Arun Jaitley on Sunday said there is no 'disconnect' between the two and hoped banks would follow the central bank in reducing interest rates. Jaitley, who addressed the RBI...
  • No intention to take away significant power from RBI: Arun Jaitley March 20, 2015

    New Delhi: The government will not take away any 'significant' power of the RBI and a clarification on the central bank's role in the regulation of bond market will be provided in April, Finance Minister Arun Jaitley said. In his first full year Budget, Jaitley had...
  • Government asks RBI to declare biotechnology as priority sector March 19, 2015

    New Delhi: To encourage investment in research and entrepreneurial activities in the biotechnology field, the government has asked the RBI to declare it as a priority sector to make lending easy for start-ups, Union Minister YS Chowdary said. The Minister of State for Science and Technology said his ministry is also...
  • India's record foreign exchange war chest set for Federal rate hike test March 19, 2015

    Mumbai: Chastened by a tumble in the rupee in 2013 at the prospect of tighter US monetary policy, India has built up record foreign exchange reserves of nearly $340 billion to insulate the economy from capital flight as the United States prepares to lift interest rates. Reserve Bank of India Governor...
  • India to strip RBI of power to regulate government bonds March 18, 2015

    New Delhi: India plans to strip its central bank of authority to regulate government bonds but leave it in charge of other money market instruments, setting the stage for a confrontation with Reserve Bank of India Governor Raghuram Rajan. The move by Arun Jaitley's finance ministry is part of an overhaul...
  • India, Sri Lanka sign four agreements, discuss fishermen issue March 13, 2015

    Colombo: India and Sri Lanka on Friday signed four agreements on visa, Customs, youth development and building a Rabindranath Tagore memorial in Sri Lanka. While signing the agreements, Modi said, "I am aware of Sri Lanka's concerns of trade with India. We are not just looking at solving problems but...
  • India's economy recovering, reforms vital, says IMF March 11, 2015

    New Delhi: India's economy is recovering and its ability to withstand external shocks has improved, but growth is likely to fall short of government targets, the International Monetary Fund said on Wednesday. In an annual report, the IMF forecast that Asia's third-largest economy would grow by 7.5 percent in the 2015/16...
  • After 20 years, Re 1 note released from Shrinathji temple March 9, 2015

    New Delhi: After a gap of over 20 years, Re 1 note has been released in the country and it bears the signature of Finance Secretary Rajiv Mehrishi. Incidentally, the note was released at Shrinathji temple in Nathdwara, Rajasthan, on March 6 by Mehrishi. Other currency notes in India bear...
  • Finance Minister Arun Jaitley to address RBI board on March 22 March 8, 2015

    New Delhi: Finance Minister Arun Jaitley will address board members of the Reserve Bank on March 22 to inform them about steps taken in the Budget for 2015-16 to boost economic growth and contain fiscal deficit. "The meeting has been scheduled for March 22 where he would be addressing the board...
  • Government faces potential clashes with RBI over who decides rates March 6, 2015

    New Delhi: Having agreed this week to formally adopt inflation targeting as a guiding star for monetary policy, the government and central bank remain at odds over how crucial decisions are made. Both sides support the setting up of a Monetary Policy Committee, as first officially proposed in 2014 when a...
  • RBI eases norms for home loans for up to Rs 10 lakh March 6, 2015

    New Delhi: Giving a boost to affordable housing, the RBI on Thursday eased the norms for home loans for up to Rs 10 lakh by allowing banks to include stamp duty and registration charges to the cost of a unit. These charges form around 15 per cent of the cost of...
  • After 20 years, RBI to put Re 1 note into circulation March 5, 2015

    New Delhi: One rupee notes are all set to come back into circulation as the government has decided to restart printing the currency after more than two decades. "The Reserve Bank of India will soon put in circulation currency notes in one rupee denomination. The notes will be printed by...
  • Bullet News: Catch the day's top stories March 4, 2015

    Bullet News is CNN-IBN's non-stop prime time bulletin where we bring to you the day's top stories from around the world. Be it politics, sports, entertainment or business, catch it here, only in 30 minutes. ...
  • India @ 9 with Palki S Upadhyay March 4, 2015

    Catch the day's top stories with Palki S Upadhyay on India @ 9. ...
  • RBI Governor Rajan expects banks cutting rate from April March 4, 2015

    Mumbai: After cutting the repo rate by 25 bps in a surprise inter-meeting monetary policy on Wednesday, Reserve Bank Governor Raghuram Rajan today said he sees banks passing on the benefit of lower rates regime to customers shortly. In yet another surprise move, the RBI on Wednesday reduced the repo rate...
  • Excessively strong rupee undesirable: Raghuram Rajan March 4, 2015

    Mumbai: RBI Governor Raghuram Rajan on Wednesday said that the "excessively strong rupee" is undesirable as it triggers disinflationary pressures. "The rupee has remained strong relative to peer countries. While an excessively strong rupee is undesirable, it too creates disinflationary impulses," Rajan said in a statement announcing cut in interest...
  • RBI rate to lower EMI, boost growth: Finance Ministry March 4, 2015

    New Delhi: Welcoming RBI's decision to cut policy rate by 0.25 per cent, the Finance Ministry's top functionaries on Wednesday said it will bring down EMIs, increase demand and boost economic growth. "What is going to happen to rate cycle moving forward is going to be driven by data and...
  • Rupee slips 33 paise to 1-week low against US dollar after Raghuram Rajan's currency comment March 4, 2015

    Mumbai: In line with weak stocks, the rupee on Wednesday slipped by a hefty 33 paise -- its fourth straight daily loss -- to close at 62.25 against dollar amid RBI Governor Raghuram Rajan's comment that an "excessively strong rupee" is undesirable as it triggers disinflationary pressures. Heavy demand for...
  • Easing inflation provides room for rate cut by RBI: Jaitley February 28, 2015

    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 February 28, 2015

    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 February 26, 2015

    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 February 25, 2015

    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...