RBI

RBI to make sixth interest rate cut, but will it help boost the economy?

Growing by 4.5 percent annually in the June-September quarter, down from 7 percent a year earlier, the economy is expanding well below the rate needed to generate enough jobs.

Dec 4, 2019

No decrease in direct tax collection, went up 5% in November: Sitharaman

FM Sitharaman categorically said that there was no decrease in direct tax collection. "In fact, there is an increase of 5 per cent in the gross direct tax collection till November this fiscal."

Dec 3, 2019

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Market outlook: Lending rates, auto sales to set equities trends

The direction of foreign fund flows, rupee's movement against the US dollar as well as global crude oil prices will affect investor sentiment.

Dec 1, 2019

PMC fraud: RBI affidavit details how it was 'cheated' by scam-hit Bank

The affidavit states that PMC Bank had submitted fraudulently manipulated data to the central bank for sample checks.

Nov 20, 2019

15 foreign banks are looking to open branches in India, says RBI

As per RBI Data, 46 foreign banks are already operating in India, including two banks operating in wholly-owned subsidiary (WOS) mode.

Nov 20, 2019

India's October retail inflation breaches RBI's medium-term target

Retail food prices, which make up nearly half of India's inflation basket, increased 7.89% in October from a year earlier, against 5.11% in September.

Nov 14, 2019

How the Singh brothers stripped Religare bare of Rs 3,000 crore

Former Foris Health Care promoters, Malvinder Mohan Singh and Shivinder Mohan Singh, who were arrested for misappropriating funds of Religare Finvest, sought for interim bail as they want to settle the case with the complainant.

Oct 19, 2019

IMF warns of economic slowdown in 90% of world, India to be hit hard

According to the new head of the 189-nation, the widespread deceleration means that growth this year will fall to its lowest rate since the beginning of the decade.

Oct 9, 2019

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