Reserve Bank of India (RBI)

IDBI Bank CEO appointed RBI deputy governor

Mahesh Jain comes with over 30 years of banking experience, having previously lead Indian Bank and served on the boards of various other banks.

Jun 4, 2018

Former RBI boss Raghuram Rajan says won't apply for top BoE job

Rajan is a former chief economist at the International Monetary Fund, and warned of financial imbalances in the run-up to the 2007-08 global crisis.

May 17, 2018

Suspected RBI interventions stems rupee's fall

Sharply rising U.S. dollar yields have boosted the dollar on international exchanges, and the rupee was also coming under pressure from firm crude oil prices that will weigh on India's already widening trade deficit.

May 16, 2018

KYC norms: RBI makes Aadhaar-bank accounts linking mandatory

The RBI's new direction comes at a time when the Supreme Court is in the final stage of hearing petitions challenging the validity of Aadhaar.

Apr 21, 2018

SBI offers PoS way for cash withdrawal to beat currency crunch

Debit card holders of SBI and all other banks can withdraw cash from SBI's PoS machines.

Apr 20, 2018

Rupee falls to 13-month low of 66 after RBI minutes

The RBI has signaled that an interest rate increase may come as early as June as the policymakers are optimistic that Asia's third-largest economy will rebound this year.

Apr 20, 2018

As India's economic growth outpaces China, will RBI play party-pooper?

The RBI has signaled that an interest rate increase may come as early as June as the policymakers are optimistic that Asia's third-largest economy will rebound this year.

Apr 20, 2018

RBI limits withdrawals to 1,000 per account for City Co-operative Bank

The Reserve Bank of India has placed curbs on the business activities of Mumbai-based City Co-operative Bank.

Apr 19, 2018

ATM usage could cost more as operators demand interbank transaction fee hike

The CATMi has demanded that interbank fee should go up by at least Rs 3-5 per transaction to enable the ATM operators to recover their costs.

Apr 19, 2018

Cash crunch: Currency situation at ATMs improving, says SBI

The SBI is constantly monitoring the situation and making efforts to ensure the supply of currency in abundance at all SBI ATMs, the bank stated.

Apr 18, 2018

Here's why ATMs across India are facing cash crunch

News reports from various states, including Andhra Pradesh, Madhya Pradesh, Telengana, Maharashtra and Bihar, said that automated teller machines (ATMs) were facing a cash crunch.

Apr 18, 2018

Overseas money transfer: RBI to monitor remittance under LRS

The Reserve Bank of India has tightened its regulation norms on Liberalised Remittance Scheme under which an individual can transfer up to $2,50,000 abroad in a year.

Apr 13, 2018

IDBI Bank shares fall over 3% after RBI levies Rs 3 crore fine

The RBI's penalty will not have any material impact on the bank, IDBI stated in a filing to the Bombay Stock Exchange. But the bank's shares slipped to a one-week low.

Apr 12, 2018

Cryptocurrency scams on the rise: Indian policemen arrested for extorting bitcoins

Policemen are booked for extorting bitcoins worth Rs 120 million from a Surat-based builder and real estate player.

Apr 11, 2018

Axis Bank's CEO to step down early: Is RBI behind the decision?

The lender's board had decided to re-appoint Sharma for a period of 3 years, however, she requested to revise her term from June 1 up to December 31.

Apr 10, 2018

Check list of 11 public sector banks under RBI scanner over NPAs

Government sources reportedly confirmed that more banks are expected to be brought under the Prompt Corrective Action (PCA) framework because of deteriorating performance.

Apr 9, 2018

Petition against India's crackdown on cryptocurrencies gains 17,000 signatures

According to the petition, the RBI's decision could lead to an increase of irregular cash trading of cryptocurrencies in India.

Apr 9, 2018

RBI's cryptocurrency clampdown: What happens to your Bitcoin investment?

The government has already cautioned the public over cryptocurrencies, and the RBI has declared that it does not consider bitcoins and others as legal tender.

Apr 9, 2018

Following RBI's crackdown, cryptocurrency exchanges look to shift base abroad

The Reserve Bank of India has banned all financial firms from dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies.

Apr 9, 2018

Is RBI planning to launch its own cryptocurrency code-named Lakshmi?

If introduced, Lakshmi would run on an implementation of the blockchain technology, which is the backbone of digital currencies like bitcoins.

Apr 6, 2018