Reserve Bank of India (RBI)

RBI asks banks to refund 'interest on interest' collected during Covid moratorium on loans

The Reserve Bank of India (RBI) has directed all banks and NBFCs to immediately put in place a board-approved policy to refund or adjust the 'interest on interest' charged to borrowers during the moratorium period of March 1 to August 31, 2020.

Apr 8, 2021

Banks to conduct special clearing of govt cheques on Mar 31

The Reserve Bank of India (RBI) has said that banks will conduct special clearing operations exclusively for government cheques on March 31 to facilitate accounting of all the government transactions for the current financial year.

Mar 29, 2021

RBI may have to delay liquidity normalisation amid rising COVID cases

Though analysts are unlikely to rush to review their long-term growth forecasts, several believe policy normalisation on interest rates and liquidity, may now take a backseat.

Mar 18, 2021

RBI keeps repo rate unchanged at 4%, projects real GDP growth for 2021 at -7.5%

The Reserve Bank of India (RBI) has revised the real GDP growth projection for FY21 upwards to (-) 7.5 per cent on the back signs of faster recovery after the narrowing of the GDP contraction for the July-September, along with hopes of Covid-19 vaccines.

Dec 4, 2020

RBI restricts HDFC bank from launching new digital business, issuing credit cards: Here's why

In a statement filed with the exchanges, HDFC bank said, "The above measures shall be considered for lifting upon satisfactory compliance with the major critical observations as identified by the RBI."

Dec 3, 2020

RBI's proposal to allow corporate houses into banking best left on shelf; ex-Guv Raghuram Rajan

Last week an RBI panel indicated that large companies could be allowed to open banks in India.

Nov 24, 2020

RBI puts Lakshmi Vilas Bank under moratorium; withdrawals capped at Rs 25,000 [details]

With the permission of RBI for medical treatment, fees for the payment of higher education, and marriage expenses, approval will be allowed to withdraw more money.

Nov 17, 2020

Indian Economy has entered first-ever technical recession [what it means]

Indian Economy is going through its toughest phase as the GDP numbers are tumbling due to severe lockdown. Scroll down to know more.

Nov 12, 2020

Meet the three economists, appointed to RBI's rate-setting Monetary Policy Committee

The government late on Monday, October 5 appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shashanka Bhide as members of the rate-setting Monetary Policy Committee of the RBI.

Oct 6, 2020

RBI stands battle-ready to take whatever steps needed for Covid-hit Indian economy: Governor Shaktikanta Das

Governor Shaktikanta Das said some high-frequency indicators including agricultural activity, Purchasing Managers Index for manufacturing, certain private estimates for unemployment point to "some stabilisation" of economic activity in the second quarter of the current fiscal year.

Sep 16, 2020

RBI suggests measures to improve liquidity, boosts demand for govt bonds with yields monitored

RBI to allow banks to hold fresh acquisitions of SLR securities acquired from September 1, 2020 under HTM up to an overall limit of 22 percent of NDTL up to March 31, 2021.

Sep 1, 2020

RBI announces yet another round of OMOs of Rs 20,000 crore: What it means

The RBI announced that it has decided to conduct simultaneous purchase and sale of government securities under Open Market Operation (OMO) for an aggregate amount of ₹20,000 crores.

Aug 25, 2020

RBI releases 'National Strategy for Financial Education for 2020-2025': What it includes

The NSFE 2020-25 includes inculcating financial literacy concepts among various sections of the population through financial education to make them an important life skill.

Aug 20, 2020

NPCI forms new international entity, infuses Rs 50 crore to expand UPI to global markets

Meanwhile, RBI opens up the application window for private companies to set up NPCI-like umbrella entities in India, and NPCI plans to expand its payment and settlement services in international geographies through paper-based and electronic clearing systems.

Aug 19, 2020

Explained: How did RBI arrive at Rs 57,128cr dividend declaration for FY21

Earlier in the day today, RBI approved a dividend of Rs 57,128 cr for FY21 and decided to maintain 5.5 percent as contingency risk reserve or retained earnings. Let's interpret the RBI numbers and calculations here.

Aug 14, 2020

RBI Monetary Policy: MPC maintains status quo, repo rate intact at 4%

Accordingly, the repo rate or short-term lending rate for commercial banks and reverse repo rate remain unchanged at 4 per cent and 3.3 per cent, respectively.

Aug 6, 2020

Amid inflation pressure will RBI Gov Shaktikanta Das risk slashing repo rates

Amid rising inflation concerns in times of the pandemic, economists predict RBI could ease monetary policy now. This, by cutting the repo and reverse repo rates by at least 25 bps to 3.75% and 3.10% respectively.

Aug 3, 2020

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.

May 29, 2020

New RBI governor Shaktikanta Das. Photo: Reuters

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.

May 22, 2020

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

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