RBI

State-run banks hit by willful defaulters

The debt owed by willful defaulters rose 138 percent in three years to Rs. 66,190 crore (about $10 billion) by December 2015.

May 3, 2016

India to pay 1.5% interest on $6.5 billion Iran oil dues

Iran requested India to consider compensating it for the losses due to the exchange rate variation.

May 3, 2016

India Inc. raised $4.27 billion in external commercial borrowings during March quarter

The amount raised under the automatic route was $3.73 billion, while the rest was via the approval route, according to RBI data.

Apr 30, 2016

Set up committee to look into PSU banks' write-offs, SC asks govt

A public interest litigation highlighted huge differences in the write-offs reported by banks individually and the RBI.

Apr 26, 2016

J&K minister orders closure of a state corporation formed to facilitate employment for the youth

"It makes no sense to have an organisation doing absolutely nothing," said Jammu & Kashmir Minister for Finance Haseeb Drabu.

Apr 26, 2016

FDI inflows in India topped $51B in April-Feb FY16

India attracted $44.29 billion in foreign direct investments over the same period in 2014-15 and $46.55 billion in 2011-12.

Apr 25, 2016

India's forex reserves hit record high of $360.25 billion

The foreign exchange reserves of India rose $333.7 million in the week ended April 15, according to the RBI data.

Apr 22, 2016

Bandra Kurla Mumbai financial district business district

India dethrones China as world's top FDI destination: Report

India received $63 billion in foreign direct investments in 2015, against China's $56.6 billion, says a report by a Financial Times division.

Apr 22, 2016

Bank deposit growth rate in FY16 falls below five-decade low

Bank deposits grew 9.72 percent as on April 1, 2016, year-over-year, lower than the five-decade low of 9.9 percent as on March 18, according to the RBI.

Apr 21, 2016

RBI Governor Raghuram Rajan says no need to get hyper over India's growth rate

India needs to repeat this performance for the next 20 years to earn a decent livelihood for every Indian, Rajan said.

Apr 20, 2016

Indians sent $4 billion for students studying overseas in FY16

This is approximately 187 percent more than $1.32 billion in outward remittances for educational purposes in 2014-15.

Apr 19, 2016

Rajan says forex intervention to continue to reduce volatility

India will intervene in the currency market when there's a sustainable risk in global markets, Rajan said.

Apr 19, 2016

RBI Governor Raghuram Rajan hints at more rate cuts

In an interview with WSJ, Raghuram Rajan said the cuts would depend on further easing of inflation and a good monsoon.

Apr 16, 2016

Foreign exchange reserves hit new high of $359.91 billion

India's foreign exchange reserves stood at a new high of $359.91 billion in the week ended April 8, 2016, according to RBI.

Apr 16, 2016

RBI asks banks with currency chests to frequently review security tools

Currency chests are storehouses where banknotes and rupee coins are stocked on behalf of the RBI.

Apr 14, 2016

SC wants disclosure of loan default details, RBI opposes

SC says total amount of outstanding bank loans is "quite a substantial amount" and "does make out a case" for disclosure.

Apr 12, 2016

Need regulation without too many limitations, RBI Governor Rajan

The RBI's focus is on the inclusion of people without a smartphone, Raghuram Rajan said at the launch of the Unified Payment Interface.

Apr 11, 2016

Bharti Airtel's M Commerce gets payments bank licence from RBI

Payments bank are restricted to holding a maximum balance of Rs. 100,000 per individual customer.

Apr 11, 2016

India's foreign exchange reserves hit an all-time high of $360 billion

The reserves stood at $359.75 billion in the week ended April 1, up from the earlier historic high of $355.94 billion.

Apr 8, 2016

State Bank of India cuts interest rates on home loans

The move by India's biggest lender has come three days after the RBI cut repo rate to a five-year low.