RBI

RBI Governor Shaktikanta Das cuts repo rate to 4%, reverse repo rate to 3.35%: Key points from press meet

Reserve Bank of India Governor Shaktikanta Das holds a press conference on monetary measures for Covid-19 relief. Scroll down to read other major announcements.

8 days ago

Yes Bank faces trust deficit; massive withdrawals as deposits shrink

Hit hard by the continuous erosion of deposits, the crisis-hit Yes Bank has posted a loss of Rs 3,668 crore for the last quarter of the Fiscal Year 2019-20 on a standalone basis.

23 days ago

Govt mulls Rs 3-lakh crore loan guarantee for small businesses, reveals report

Small businesses will be eligible for an additional 20% of their outstanding credit limit, which will be fully backed by the government.

Apr 27, 2020

What RBI's Special Liquidity Facility mean for the mutual funds industry?

The Covid-19 outbreak and the Franklin Templeton fund closure has necessitated RBI to step in and ease liquidity pressures on mutual funds by announcing Rs 50,000 crore Special Liquidity Facility.

Apr 27, 2020

Sensex up 714 points, Nifty up 2% after RBI's liquidity cushion for mutual funds

At 10.22 am, Sensex was trading at 32,038.75 points, higher by 711.53 points or 2.27 per cent from the previous close of 31,327.22.

Apr 27, 2020

RBI announces Rs 50,000 cr 'Special Liquidity Facility' for mutual funds: Key points

Under the SLF-MF, the RBI shall conduct repo operations of 90 days tenor at the fixed repo rate.

Apr 27, 2020

RBI declares new money market trading hours inclusive of Forex from April 7 to 17

Owing to a decrease in market activity in light of the Covid-19 outbreak and nationwide lockdown, RBI has cut money market trading hours, with effect from April 7 to April 17.

Apr 3, 2020

Citizens plea to govt for temporary break on EMI, loan repayments in its economic relief package

Indian citizens took to Twitter and social media yesterday in a plea to the government to impose a temporary pause on EMIs and loan repayment as a part of the economic relief package.

Mar 26, 2020

Coronavirus: RBI issues advisory, asks banks to encourage use of digital banking among customers

In the wake of the novel coronavirus outbreak in the India, the RBI has directed a few operational guidelines to banks across the country.

Mar 16, 2020

SBI, ICICI Bank, HDFC Bank, LIC, others to invest Rs 11,700 crore to revive Yes Bank

Public-sector undertaking State Bank of India will be joined by seven other private lenders namely HDFC Bank, ICICI Bank, Kotak Bank, Axis Bank, Damani, Jhunjhunwala, and Azim Premji Trust to pick up stake and support revival of Yes Bank. LIC has also been roped in by the RBI to revive the private-sector lender

Mar 13, 2020

Yes Bank crisis explained: What led to the downfall of India's fifth largest private lender?

An RBI moratorium was the last resort to ensure Yes Bank lives through its crisis of deteriorating financial health and a huge pile of bad credits, while State Bank of India stepped in to save the bank by suggesting schemes of reconstruction or amalgamation.

Mar 7, 2020

Yes Bank founder Rana Kapoor's Mumbai house raided after ED registers money laundering case

Registering a money laundering case under PMLA against Yes Bank Director Rana Kapoor, the Enforcement Directorate raided his Mumbai residence and will soon issue a look out notice against him as well.

Mar 7, 2020

YES Bank revival scheme: RBI announces reconstruction plan for capital-starved bank, what it means

As per the Scheme of Reconstruction, the Reserve Bank invited suggestions and comments from members of the public, including the banks' shareholders, depositors and creditors on the draft scheme.

Mar 6, 2020

Cryptocurrency ban lifted by RBI in India: What the SC ruling means?

The SC lifted the cryptocurrency ban imposed by RBI in early 2018, which prevented financial institutions in India from providing banking services to cryptocurrency companies. Industry experts hail SC's bold move, but advise users on exercising caution trading in crypto and companies to improve AML policies and ensure data privacy.

Mar 5, 2020

No delay in mega-merger of 10 PSU banks from April 1, loans will be restructured: Nirmala Sitharaman

The speculation around mega-merger of 10 PSU banks to be delayed by at least 6 months owing to regulatory hurdles and need for extra funds to manage the merger has been put to rest. Finance Minister, Nirmala Sitharaman confirmed the merger will indeed happen on April 1.

Feb 28, 2020

Bank employees' unions to call for a nationwide three-day strike from March 11 to 13

The bank employees' unions have warned to go on a three-day strike from March 11 to 13 and an indefinite strike from April 1, if their wage demands go unmet.

Feb 28, 2020

'Don't panic': BJP MP Tejasvi Surya assures depositors after RBI caps withdrawal limit of Bengaluru bank

Reserve Bank of India (RBI) on January 10, imposed severe curbs on cash withdrawal limits of Sri Guru Raghavendra Sahakara Bank. According to the order, customers can only withdraw up to Rs 35,000 for the next six months.

Jan 14, 2020

As retail inflation soars high, RBI likely to put hold on rate cuts

Economists say that rising headline and food inflation would soon feed into core inflation - stripping out food and fuel prices.

Jan 14, 2020

RBI curbs Bengaluru private bank from doing business for alleged irregularities

RBI has clarified that its directive should not be construed as a cancellation of the bank's license issued by it.

Jan 12, 2020

Govt mulls over cutting spending to curb deficit; may hurt growth

Asia's third-largest economy, which is growing at its slowest pace in over six years because of lack of private investment, could be hurt further if the government cuts spending.

Jan 7, 2020