Reserve Bank of India (RBI)

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.

Oct 17, 2019

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.

Oct 14, 2019

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.

Oct 13, 2019

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.

Oct 12, 2019

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.

Oct 12, 2019

Lakshmi Vilas Bank put under prompt corrective action framework

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.

Oct 10, 2019

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%.

Oct 5, 2019

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.

Oct 4, 2019

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.

Oct 2, 2019

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

Sep 29, 2019

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.

Sep 29, 2019

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.

Sep 29, 2019

PMC Bank customers panic after RBI restricts withdrawals

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.

Sep 27, 2019

Customers panic after RBI intervention in PMC Bank

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.

Sep 25, 2019

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.

Sep 24, 2019

FM Sitharaman announces steps to boost liquidity, demand

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

State Bank of India q4 net profit loans advances npas rbi aqr

Banking nightmare next week? PSBs will be shut for 5 days effectively

Country's biggest lender, the State Bank of India said that the banking operations are likely to be affected if the unions go ahead with the strike.

Sep 19, 2019

For FM Nirmala Sitharaman, economic revival has already started

According to Sitharaman, "there is robust FDI inflows and record forex reserves. The fiscal deficit is improving and current account deficit is contained."

Sep 15, 2019

Paytm, GST sale, India, iPhone 7, Google Pixel,

Paytm eyes core banking toehold amid talks with Rana Kapoor for Yes Bank stake

Co-founder Kapoor is seeking to exit Yes Bank by selling his and family's stake for Rs 2,000 crore; in talks with Paytm founder Vijay Shekhar Sharma.

Sep 11, 2019

Good news for home, auto buyers: RBI makes external benchmark-based interest rate mandatory from Oct 1

The step is another attempt by the central bank to spur growth in the economy, which registered the slowest growth to a six-year low of 5 per cent in the April-June quarter.

Sep 5, 2019