Reserve Bank of India (RBI)

RBI slaps Rs 6.5cr penalties on Bank of India, Karnataka Bank, Saraswat Coop Bank; here's why

On account of non-compliance with IRAC norms, a monetary penalty of Rs 1.20 crore was imposed on Karnataka Bank Ltd, Rs 5 crore on Bank of India and Rs 30 lakh on Saraswat Co-operative Bank Limited. The total penalty imposed by RBI on these three banks is Rs 6.50 crore.

6 days ago

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.

13 days ago

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

Meet the top three contenders, next in line for the HDFC Bank CEO throne

The process to select the successor of the bank's longest-serving CEO Aditya started in November last year whose tenure will end on 26th October this year.

Apr 19, 2020

Liquidity boost, flow of credit: Full text of RBI's announcement on Covid-19 crisis

Appreciating the work of the medical staff, police force and all others working during this pandemic crisis, the Reserve Bank has released its latest announcement on its assessment of the current economic situation.

Apr 17, 2020

RBI cuts reverse repo rate from 4% to 3.75% in bid to spur bank lending

In a speech, RBI Governor Shaktikanta Das said the central bank had cut its reverse repo rate to 3.75% with immediate effect.

Apr 17, 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

RBI turns 85: Here's a look at its roller coaster ride over the years

The RBI was set up on April 1, 1935, by the British to settle the issue of Remittance between the UK government and its officers serving in India. Here are some events over the years.

Apr 1, 2020

Respite on EMI payments: Here's how deferring your installment re-payment will cost you dearly

Deferment in paying the EMI installments for the coming three months will put up an additional burden on the total loan amount.

Apr 1, 2020

Government steeply slashes interest rate for small saving schemes, PPF to give 7.1% return

It is to be noted that the interest rates were last revised in July 2019 excluding post office savings account by 10 bps.

Apr 1, 2020

Indian economy gets corona: Moody's slashes India's GDP growth to 2.5% from 5.3%

The coronavirus outbreak has badly impacted every section of the economy which in turn will affect India's GDP growth in coming months.

Mar 27, 2020

Will RBI's massive repo rate cut and Rs 3.74 lakh cr liquidity push help economic revival?

Amidst the coronavirus scare and economic slump witnessed in the recent days, an announcement by RBI governor Shaktikanta Das brings little relief and hope in times of gloom.

Mar 27, 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

Good news for depositors as Moratorium on Yes Bank to be removed on March 18

On March 5, the Reserve Bank of India superseded the board of Yes Bank after it was unable to raise fresh capital.

Mar 14, 2020

Deposited money is safe: RBI asks state government to stop withdrawals from private banks

The trigger of such heavy withdrawal is believed to be the Yes Bank crisis that was superseded by the RBI placed restrictions on withdrawals.

Mar 13, 2020

Coronavirus scares: Contingency planning on top of the agenda for global financial firms

Large financial institutions and corporates are ramping up their contingency planning efforts to combat the spread of coronavirus amongst its staffers, which include telling them to self-quarantine for 14 days if exposed to someone suffering from the virus, deep cleaning of offices and splitting operations such that some staff can work-from-home in affected regions.

Mar 12, 2020

Have an account with Yes Bank? Here's what you can do

Retail depositors with their money with Yes Bank across the country are in a state of panic and have been withdrawing money as much as they can.

Mar 6, 2020

Huge volatility on Dalal Street as coronavirus reaches India

Last day at the Dalal street witnessed huge volatility in benchmark indices as cases of Coronavirus confirmed across three cities in India.

Mar 3, 2020