RBI

RBI cuts repo rate by 25 bps to 5.15%; GDP growth for FY20 adjusted to 6.1%

The lending rates were reduced in a bid to reverse the consumption slowdown and shore-up growth.

Oct 4, 2019

Finance Minister Nirmala Sitharaman asks CPSEs to clear all dues by Oct 15

The government isreviewing counter-claims related to arbitration and a meeting will be held between the Ministry of Finance and the RBI on the issue.

Sep 29, 2019

Slowdown will not hit social sector spending: Nirmala Sitharaman

The minister said the government was yet to take a call on how it would use the surplus reserve of Rs 1.76 lakh crore it has received from the Reserve Bank of India.

Sep 7, 2019

RBI annual report calls economic situation grim in FY20

The central bank in its review said that external demand operated as a drag for the second successive year.

Aug 30, 2019

RBI payout gives Centre space to spend more: Experts

The Central Board of the Reserve Bank of India (RBI) on Monday decided to transfer a sum of Rs 1,76,051 crore to the government.

Aug 27, 2019

Finance ministry working on stimulus package to pull economy from brink of slowdown

The stimulus could cover the financial markets that have shown big volatility in recent weeks and particularly after the presentation of Union Budget on July 5 that raised tax surcharge on FPIs.

Aug 14, 2019

RBI slashes repo rate by 35 basis points to 5.40%, cuts GDP growth forecast to 6.9%

The central bank reduced the repo rate by 35 basis points to 5.40 per cent from 5.75 per cent in its third bi-monthly Monetary Policy Statement for 2019-20.

Aug 7, 2019

Taxation amid slowing economy is killing market's 'animal spirit': D Subbarao

Of late the financial markets have borne the brunt of multiple taxes amid an acute slowdown, which has almost killed the investors' risk-taking appetite.

Aug 4, 2019

Account Aggregator to make funding seamless in India

The account aggregator will obtain data from multiple service providers and deliver it via consent-based channels to financial information users.

Jul 29, 2019

PNB detects Rs 3,805 crore fraud by Bhushan Power & Steel

Bhushan Power and Steel was among the first 12 companies referred by the RBI India to a bankruptcy court for a debt resolution process under India's new insolvency law.

Jul 7, 2019

RBI directs Visa, MasterCard to store data in India

India requires stringent data storage rules so that it can better access data and conduct investigations when the need arises.

Jun 27, 2019

RBI launches new complaints portal; here is how you can air banking grievances

The public can use the portal to lodge complaints related to any RBI regulated banks or firms

Jun 25, 2019

RBI deputy governor Viral Acharya resigns; 'Poor man's Rajan' to return to US

Viral Acharya, who was fondly called 'the poor man's, Raghuram Rajan', had made strong calls for RBI's independence.

Jun 24, 2019

Facebook CEO Mark Zuckerberg at F8 conference

Why is Facebook going back on plans to launch crypto Libra in India?

Facebook's crypto is not designed to be a closed system and is meant for transactions in the external economy, which concerns RBI.

Jun 20, 2019

RBI to raise cap for easy loans under Mudra to Rs 20 lakh; will it increase bad debt?

The Pradhan Mantri Mudra Yojana (PPMY) was launched by Prime Minister Narendra Modi with an aim to provide easy loans to non-corporate, non-farm small and micro-enterprises.

Jun 19, 2019

UCO Bank names Yash Birla as wilful defaulter; here's why RBI won't approve additional funds

UCO Bank also revealed the names of seven wilful defaulters who have total unpaid dues of Rs 740 crore. The names include Mehul Choksi, Manoj Jayaswal and Abhishek Jayaswal.

Jun 17, 2019

India has 597 ATMs less in 2019 than 2017: RBI report

India also has one of the lowest ratios of ATM cash withdrawal relative to cash in circulation, revealed the report titled "Benchmarking India's Payment Systems".

Jun 8, 2019

Relief for lenders as RBI relaxes stressed asset guidelines

A circular issued in February last year required banks to initiate a resolution process as soon as a default took place.

Jun 8, 2019

Reactions | Here's what economists take from RBI's monetary policy statement

There were varying pre-estimations by economists, bankers, corporate owners and traders on their expectations from the monetary policy committee.

Jun 6, 2019

RTGS, NEFT transaction charges scrapped; RBI directs banks to pass on benefits

As far as charges on transactions are concerned, there will be more good news for customers as the RBI declared that it was setting up a panel to review charges imposed by banks on ATM withdrawals.