Reserve Bank of India (RBI)

Cryptic Sitharaman reveals little on crypto adoption while China may take lead

Finance Minister Sitharaman reiterated the challenges in adopting blockchain-based cryptos like Bitcoin.

1 day ago

Can India tide over economic crisis that may be worse than the 2008 recession?

Goldman Sachs believes the liquidity issue that NBFCs fuelled is only part of the story as the consumption fall is responsible for a third of the overall slump that began snowballing from January 2018.

3 days ago

Sitharaman's economic revival plan goes for a toss, slowest credit growth in last two years

The data shows that although retail lending activities have increased, lenders are taking a much cautious approach on some consumer loans.

4 days ago

Social media scare prompts HDFC Bank to clarify on deposit insurance programme

Photograph of a passbook page affirming that deposits are insured for up to Rs 1 lakh as per a 2017 RBI circular circulated on social media causing panic amid continuing stress in India's banking sector.

4 days ago

PMC bank scam: Depositors demand Rs 5000 crore bailout from PM Modi

The development has come against the backdrop of third depositor dying within 24 hours.

4 days ago

After PMC debacle, Centre starts working on stronger framework for co-op banks

One of the RBI officials confirmed that apart from strengthening the framework for oversight of cooperatives, the central bank is also reviewing cap of Rs 25,000 on withdrawals which could be removed soon.

7 days ago

When will economic slowdown end? World Bank predicts 2nd year of fall in growth

World Bank cut India's GDP growth estimate to 6% for the 2019-20 financial year against 6.9% it achieved in FY19 amid broad-based deceleration of different sectors in the earlier quarters of the year.

8 days ago

Raghuram Rajan's take on how worrying the economic situation is as growth slows

Former RBI governor Raghuram Rajan says that uncertainty over economic vision is causing deep distress in the economy whose growth forecast has been slashed multiple times this fisc.

8 days ago

Fact Check: Demonetisation again? Rs 2000 currency notes to be discontinued?

A message went viral on WhatsApp that claimed that the RBI will discontinue the Rs 2,000 note from October 10 this year.

9 days ago

RBI pulls plug on Lakshmi Vilas Bank merger bid with Indiabulls Housing Finance

Lakshmi Vilas Bank placed under regulatory restrictions over high leverage last month will have to explore other ways to raise capital; IndiaBulls may turn to share buyback.

11 days ago

Will RBI cut rates further as market takes hit from fifth successive reduction?

Markets slumped on weak sentiment after RBI cut the repo rate by an expected 25 basis points to 5.15%; the central bank maintains accommodative guidance as it adjusts economic growth estimates for the full year to 6.1% from 6.9%.

16 days ago

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.

17 days ago

PMC bank created more than 21,000 fraudulent account to conceal loans

The complaint has accused the bank's Chairman, Waryam Singh, and its Managing Director Joy Thomas, along with other bank officials of criminal breach of trust, forgery and falsification of records.

19 days ago

Will RBI cut interest rate by 40 bps for 5th successive time this year?

Most experts expect a rate cut though they differ on the quantum ranging between 15 and 40 basis points; Finance Minister Nirmala Sitharaman's growth push is likely to guide RBI's monetary policy

22 days ago

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.

22 days ago

Should RBI's regulatory action on Lakshmi Vilas Bank worry erring lenders?

Lakshmi Vilas Bank became second major private lender to get the rap under 'prompt corrective action' framework of the RBI, after the action against PMC Bank.

22 days ago

PMC becomes latest bank out of 23 others to face RBI action over irregularities

Since the beginning of 2019, the RBI has put 23 more co-operative banks under similar restrictions.

24 days ago

Explainer: What is PMC Bank and why are the customers panicking?

RBI has capped withdrawals to Rs 1,000 for six months to prevent a run on the bank; authorities are probing major accounting issues.

26 days ago

Modi govt plans another round of PSU stake sale to recover loss from tax bonanza

Centre may also opt for using buffer, which means a slight deviation from the target, and then close the deficit again once the economy is back on a high growth track.

27 days ago

FM Sitharaman's liquidity drive gives the economy a booster shot of demand rise

Credit fairs by public sector banks will bring early festival cheer to consumers as corporate tax bonanza will put on steroids PM Modi's FDI push after Howdy Modi.

Sep 20, 2019