Rbi

  • SBI accounts for half of mobile transactions in June: RBI 21 hours 13 minutes ago

    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 1,000-crore 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 Yesterday

    New Delhi: Lawmakers on Thursday quizzed officials of RBI, SEBI and the government about the steps being taken to avoid recurrence of fraudulent money-pooling 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 Yesterday

    Hyderabad: Desperate to keep its pre-poll 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 Yesterday

    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 state-run banks 3 days ago

    Mumbai: Batting for greater autonomy to state-run 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 de-regulate diesel prices 4 days ago

    Mumbai:Even as the government is continuing with a phased de-regulation of diesel prices, RBI Governor Raghuram Rajan has urged the Centre to completely de-regulate diesel prices. Rajan on Monday said diesel price de-regulation is especially important in the wake of rising global crude oil prices. "De-regulation will empower state-owned oil firms...
  • Blackmoney: SIT empowers Enforcement Directorate to check huge forex violations 5 days ago

    New Delhi: To check large-scale 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 2-3 months 5 days ago

    New Delhi: The Reserve Bank is likely to issue final guidelines on small and payments banks within 2-3 months, paving the way for corporates to enter these two segments. The final guidelines on small and payments banks are expected in the next 2-3 months, sources said. Draft guidelines for small and payments...
  • India's foreign reserves down $1.32 billion 6 days ago

    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 1 week ago

    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: Debt-ridden 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 non-resident 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 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,...