RBI keeps policy rate unchanged after six consecutive meetings; cuts growth forecast to 9.5%
MPC decided to maintain the status quo, that is keeping benchmark repurchase (repo) rate at 4%. Consequently, the reverse repo rate will also continue to earn 3.35% interest for banks
A year after PMC Bank scam, RBI says NPAs rise in urban co-operative banks, losses balloon up
The Reserve Bank of India said the quantum of gross NPAs in the 1,539 UCBs increased to Rs 33,010 crore at end-FY20 from Rs 22,093 crore a year ago
At $0.6 bn, India records current account surplus in fourth quarter of FY20 for first time in 13 years, says RBI
The RBI data also showed the current account deficit for the October-December quarter of fiscal 2019-20 was revised to $2.6 billion or 0.4 percent of GDP from $1.4 billion earlier.
RBI most popular among central banks on Twitter; followers more than double to 7.5 lakh since March 2019
The Reserve Bank of India is not the most powerful in terms of monetary fire power like its peers in the US and Europe but when it comes to popularity, the monetary authority is the most followed on Twitter
Fed, Bank of England ramp up emergency responses to escalating coronavirus recession; push deeper into uncharted territory
The Fed, in its boldest move to date to soften the historic shutdown of much of the US economy, pledged $2.3 trillion to help local governments on the front lines of the health crisis and to prop up small and mid-sized businesses.
RBI holds OMO auction worth Rs 15,000 crore for liquidity in system; settlements to be done today
While the notified amount was Rs 15,000 crore, total amount offered stood at Rs 39,529 crore but the central bank accepted only the notified amount.
PSB instructs officials to restrict circulation of Rs 2,000 notes, urges customers not to panic as no curbs on accepting
After issuing the directive to restrict the circulation of Rs 2,000 notes, senior officials of the PSB reportedly called branch managers to confirm that it was being executed immediately.
PMC Bank scam: Restrictions on cash withdrawal from lender based on ability to pay depositors, RBI tells Delhi HC
The submissions were made in response to a PIL seeking removal of restrictions on cash withdrawals from the PMC Bank.
Operation Twist hasn’t quite produced expected outcomes but will RBI’s latest attempt buck previous trend?
A successful ‘Operation Twist’ could mitigate that additional need. Past experience, however, shows that success can be a mixed blessing.
Sensex drops over 150 points, Nifty above 12,200-mark in opening trade; Bharti Airtel, RIL among top losers
Titan was the top gainer in the Sensex pack, rising up to 2 percent after its inclusion in the index. Kotak Bank, Tata Steel, UltraTech Cement, ONGC, HUL and TCS were also trading in the green.
Rupee falls 6 paise to 71.03 against dollar on crude price rise amid expectations of intervention by central bank
At the interbank foreign exchange market, rupee opened on a weak note at 71.01 and fell further to a low of 71.18.
Sensex, Nifty end lower in a see-saw trade as RBI surprises with status quo; Bharti Airtel, Tata Steel among top losers
On the Sensex chart, Bharti Airtel, Tata Steel, IndusInd Bank, HeroMoto Corp and Tata Motors were among the major laggards.
RBI Monetary Policy 2019 Updates: Forensic audit on PMC Bank scam expected by month-end, says Shaktikanta Das
If the Reserve Bank of India (RBI) cuts the repo rate today, it would be the sixth reduction in the short-term lending rate this financial year.
Reserve Bank of India becomes net buyer of dollars, purchases $5.61 bn in September
In FY19, the Reserve Bank of India was a net seller of the dollar offloading $15.377 billion in the spot market. It had bought $40.804 billion and sold $56.181 billion in the year to March 2019
No currency notes of Rs 2,000 denomination printed this financial year, says RBI in response to RTI enquiry
The circulation of Rs 2,000 currency notes may not serve the purpose of the government as this high-value currency notes are easier to use for illegal purposes, media reports said.
RBI cuts repo rate by 25 bps to 5.15%: Central bank goes with the tide but reduction in interest rate cannot ensure pick-up in credit
The most important takeaway from the RBI policy statement is the revision in GDP growth number from 6.9% to 6.1% for FY20
RBI Monetary Policy Updates: Efforts on to ensure another large NBFC does not default, says governor Shaktikanta Das
RBI MPC LATEST Updates: RBI governor Shaktikanta Das has said that efforts are on to ensure that another large non-banking finance company (NBFC) does not default.
India's banking system safe and stable, no need to panic on basis of baseless rumours, RBI assures people
This is for the second time in a week, the Reserve Bank of India (RBI) has come out with a statement assuring people about the stability of the country's banking system.
Current withdrawal limit of Rs 10,000 from PMC Bank not permanent, may relax cap after improvement in situation: RBI
The RBI had Tuesday imposed a slew of restrictions on PMC Bank after finding many irregularities in its books, including massive under-reporting of NPAs.
Govt gets windfall gain of Rs 1.76 lakh cr from Reserve Bank of India; raises expectation of fiscal stimulus
A source familiar with discussions said the government will use the funds to stimulate the economy by cutting taxes