Cash Crunch News
PMC Bank crisis: Economic Offences Wing files case against bank management, promoters of HDIL; SIT to probe case
The bank, which has 137 branches and over Rs 11,000 crore in deposits, has been put under restrictions since last week after the RBI discovered certain financial irregularities in the functioning of the multi-state lender.
PMC Bank's actual exposure to HDIL at over Rs 6,500 cr or 73% of total loan book, says suspended MD Thomas in letter to RBI
In the confession letter, Thomas also put the actual NPA number at 60-70 percent as against a reported net NPA of 2.19 percent as of 31 March 2019, the source said.
RBI gets higher demand for second 3-year dollar-rupee swap auction at $18.65 bn against $16.31 bn in maiden auction
RBI introduced the tool, wherein it buys dollars from banks for three years and offer them rupees in return, last month to bridge the liquidity gap
Reliance Industries asks Niko Resources to exit from KG-D6 gas block over payment default, Canadian firm seeks to stall move
Reliance is the operator of KG-D6 block with 60 percent stake and UK's BP plc has 30 percent interest.
NCR for multi-stakeholder talks to resolve ATM industry crisis; 'cannot afford any disruption', says MD Navroze Dastur
There has been a reduction in the number of new ATMs installed this year, and pointed out that the demand for replacements is keeping suppliers like it busy.
RBI Board meet: Round one goes to govt; after the ugly public spat, Governor Urjit Patel has been shown his place
RBI board meet outcome is a clear victory for govt; RBI has been shown its place
Jet Airways cancels 10 domestic flights on Sunday due to 'operational issues'; flyers stranded
Hundreds of passengers of Jet Airways were left stranded at the city airport after the carrier cancelled 10 domestic flights from here on Sunday,
Household savings in form of cash soared to 7-year high in post demonetisation year, shows RBI data
Financial savings of the household sector in form of cash soared to 7-year high of 2.8 percent of gross national disposable income (GNDI) in 2017-18, the year following demonetisation, showed a RBI data
RBI Governor Urjit Patel appears before parliamentary panel, assures to take steps to strengthen banking system
RBI Governor Urjit Patel on Tuesday faced tough questions from a parliamentary panel on bad loans, bank frauds, cash crunch and other issues even as he assured the members that steps were being taken to strengthen the system
State-owned banks on two-day nationwide strike from 30 May, confirms union; ATMs, salary could be hit, but no reason for panic
Apex bank union AIBEA boss C H Venkatachalam warns of likely cash crunch on Wednesday, Thursday #BankStrike #ATMs #CashCrunch #2DayBankStrike
Currency supply normal across India; all ATMs functioning well, says Economic Affairs Secretary Subhash Garg
Government says ATMs across India are well stocked and there's no cash crunch. But there's no word on a reduction of excise duties on petrol and diesel.
Amid cash crunch, Income Tax Department seizes Rs 14.48 crore from hoarders during raids across India
The Income Tax Department (ITD) has seized Rs 14.48 crore in cash during raids at multiple locations, including in poll-bound Karnataka
People still hoarding cash as withdrawals outpace spending, RBI data shows India's old habits die hard
Having speeded up printing presses to refill ATMs, RBI released data showing that people were still hoarding cash as withdrawals outpaced spending
Yashwant Sinha quits BJP: From demonetisation to GST, all the times former minister spoke out against Modi govt
Over the past few months, Sinha had become a dissident voice within the BJP, criticising the central and BJP-ruled state governments' economic policies and governance.
ATMs run dry: Currency supplies improved but cash crunch persists, say bank officials
Currency supply to ATMs and branches has improved but cash crunch still persists in the system which would be normalised soon, bank officials said on Friday
Cash crunch: SBI doubting 'genuity' of problem is illogical; the currency shortage is not a made-up story
SBI's stand on the cash crunch disregards ground realities. The bank's economists are probably playing to the government's tune.
Cash crunch a case of complete mismanagement by government and RBI, says ex-finance minister Yashwant Sinha
The cash crunch at ATMs in some parts of the country is a case of "complete mismanagement" on the part of both the RBI and the government, former finance minister Yashwant Sinha said.
Karnataka polls: Fake or not, cash-for-votes likely to be biggest problem facing Election Commission
As Karnataka Assembly polls draw closer, the Election Commission faces a monumental task is not just making arrangements for the polls, but also keeping a close eye on the miscreants bribing voters
ATMs run dry: RBI governor Urjit Patel should quit, demands bank union
The All India Bank Employees' Association (AIBEA) on Thursday demanded Reserve Bank of India Governor Urjit Patel quit as the central bank is grossly negligent on several issues, including the cashless ATMs across the country
Currency shortage: Printing presses operating 24x7, generating Rs 500, Rs 200 notes, says govt official
The government has ramped up printing of currency notes and is operating all the four presses 24x7, an official said on Thursday amid ATMs running dry in many parts of the country