RBI

  • India Bond Yields Rise On Inflation Concerns, RBI Minutes Eyed August 19, 2022 10:38 pm The benchmark 10-year government bond yield ended at 7.2639%, up two basis points. Mumbai: The government bond yields ended higher for second consecutive session on Friday as focus shifted back to inflation, while a new 10-year bond saw higher-than- …
  • Minimum Account Balance Rules And ATM Withdrawal Limit In Major Banks August 19, 2022 10:38 pm What is the minimum balance for savings accounts in these major banks? Banks require the customers to maintain a certain sum as an average monthly balance (AMB) in their regular savings bank accounts. The AMB differs from bank to bank.  It also depends on …
  • Inflation "Unacceptably And Uncomfortably High," Said RBI Chief: Minutes August 19, 2022 10:38 pm RBI Governor proposed the 50 basis points hike in repo rate. Mumbai: RBI Governor Shaktikanta Das said the retail inflation is "unacceptably and uncomfortably" high and proposed the 50 basis points hike in repo rate at the recent monetary policy …
  • Not against privatisation of PSBs, research article supports govt's gradual approach: RBI's clarification on article August 19, 2022 10:08 pm Mumbai: The Reserve Bank of India (RBI) has issued a clarification over a bulleting article written by its researchers that said "a big bang approach to privatise them will do more harm than good" given the important role played by them in …
  • Final bid deadline extended for 2 Srei cos August 19, 2022 8:33 pm The administrator of the twin Srei companies has extended the deadline to submit the final bid for them by ten days to August 29, and revised the terms for the resolution applicants, said two people aware of the development. Late Friday evening, …
  • Inflation remains unacceptably and uncomfortably high: RBI Governor at MPC meeting August 19, 2022 8:23 pm Mumbai (Maharashtra) [India], August 19 (ANI): Though inflation has moderated and plateaued since its recent peak of April 2022, it remains unacceptably and uncomfortably high, Reserve Bank of India (RBI) Governor Shaktikanta Das said in his intervention …
  • Minutes of August meeting: MPC members favour front-loading of rate hikes August 19, 2022 7:56 pm Inflation remained a major concern for members of the monetary policy committee (MPC) at their August meeting and front-loading of the repo rate hikes found favour, showed minutes of the meeting released on Friday. Reserve Bank of India (RBI) governor …
  • Uni temporarily suspends two of its cards August 19, 2022 7:56 pm Challenger card issuer Uni on Friday announced the temporary suspension of two of its cards – the Uni Pay 1/3rd Card and the Uni Pay 1/2 Card. The suspension comes amid reports that State Bank of Mauritius (SBM) has told its fintech card partners …
  • SFBs eye diversification to boost secured lending August 19, 2022 7:56 pm By Shashank Didmishe Small finance banks (SFBs) are keen on increasing the share of secured loans, which they intend to do by diversifying into gold loans, loans against property and vehicle loans. They are exploring existing customer bases as they prepare …
  • RBI warns of more rate hikes August 19, 2022 7:34 pm Shaktikanta Das says the decision to increase the rate is tailored toward bringing retail inflation within the target band Representational image. File Photo. Our Bureau   |   Calcutta   |   Published 20.08.22, 12:36 AM Reserve Bank of India governor …
  • End this asymmetrical conflict over ‘freebies’ August 19, 2022 7:16 pm The judiciary’s move to study the issue could impact the economic freedom of States and the ‘Idea of India’ The judiciary’s move to study the issue could impact the economic freedom of States and the ‘Idea of India’ The issue of ‘freebies’ has bounced back …
  • Inflation is unacceptably, uncomfortably high: RBI Guv August 19, 2022 6:41 pm RBI Governor Shaktikanta Das said the retail inflation is "unacceptably and uncomfortably" high and proposed the 50 basis points hike in repo rate at the recent monetary policy review meeting. The other members of the Monetary Policy Committee ( …
  • Investors welcome dropping of ‘India connect’ on overseas investment, look forward to re-opening of ODI limit August 19, 2022 6:23 pm Markets regulator, Securities and Exchange Board of India (SEBI) has eased some norms governing overseas investments by Indian private equity and venture capital funds. This decision has widened the scope of the capital that can be invested in foreign …
  • Resolution ‘confuses more than it clarifies’, MPC minutes cite Varma August 19, 2022 6:13 pm ‘Withdrawal of accommodation phrasing ought to have been dropped given other considerations’ ‘Withdrawal of accommodation phrasing ought to have been dropped given other considerations’ The Monetary Policy Committee’s August 5 resolution accompanying the …
  • RBI clarifies report stating PSBs privatisation August 19, 2022 6:13 pm New Delhi: The Reserve Bank of India today clarifies the reports regarding certain sections of the media stating that the RBI is against privatisation of Public Sector Banks (PSBs).  According to India's central bank, These media reports have cited an …
  • US Treasury official to visit India amid Ukraine tensions August 19, 2022 6:04 pm WASHINGTON (AP) — A top Treasury Department official is set next week to make his first official trip to India since the start of Russia’s invasion of Ukraine. Amid tensions over India’s neutral stance on the invasion that began in late February, the U.S. …
  • Why you should read ‘RBI and Inflation’ or ‘Lord Curzon’ August 19, 2022 5:07 pm FRONT PAGE Inflation target breach: RBI committee will meet to draft report for Govt Syllabus: Preliminary Examination: Economic and Social Development Mains Examination: General Studies III: Indian Economy and issues relating to planning, mobilisation, of …
  • India better placed on growth-inflation-external balance triangle: FinMin report August 19, 2022 4:59 pm  India is better placed on the growth-inflation-external balance triangle for 2022-23 than it was two months ago, on the back of government policy response and the Reserve Bank’s monetary policy actions, the finance ministry’s monthly economic review said …
  • RBI gets more aggressive on forwards to save rupee August 19, 2022 4:46 pm In a move to contain theliquidity impact of its foreign exchange operations, the Reserve Bank of India sold a record $18 billion in the forward markets in June to defend the currency as the rupee turned volatile during the month to touch a new low. The …
  • Gold Bond issue price fixed at Rs 5,197/gm of gold; subscription to open on Monday August 19, 2022 4:37 pm The issue price for the next tranche of Sovereign Gold Bond Scheme 2021-22, which will open for subscription for five days from Monday, has been fixed at Rs 5,197 per gram of gold, the Reserve Bank of India said on Friday. The Sovereign Gold Bond Scheme …
  • New digital lending norms to change operating model at some NBFCs: CRISIL August 19, 2022 4:36 pm The digital lending norms announced by the Reserve Bank of India (RBI) on 10 August , 2022, aim to usher in orderly growth and financial stability, check malpractices, strengthen transparency, and protect customer interests. They would, however, raise …
  • India among top crypto adopters. Will it alarm govt to expedite regulations? August 19, 2022 3:33 pm More than seven per cent of Indians owned digital assets in the form of cryptos in 2021, according to a report by the United Nations Trade and Development (UNCTAD). As per the report, every fourteenth Indian invested in the new age asset despite the covid- …
  • Inflation ‘unacceptably and uncomfortably’ high; policy measures to remain calibrated: RBI Governor at MPC meet August 19, 2022 3:28 pm With the price situation remaining at “unacceptably and uncomfortably” high level, members of the RBI’s Monetary Policy Committee underlined the need for preventing upward drift of inflation and bringing it down to the target band, as per minutes of its …
  • Foreign exchange reserves decline to USD 570.74 bln August 19, 2022 3:28 pm The country’s foreign exchange reserves fell USD 2.238 billion to USD 570.74 billion in the week ended August 12, according to the Reserve Bank of India (RBI) data. In the previous week ended August 5, the foreign exchange reserves declined USD 897 million …
  • Banks rush to raise funds via CDs amid credit demand August 19, 2022 3:26 pm Banks are rushing to raise funds in the short-term money market to meet increasing credit demand, which has lately outpaced deposit mobilisation amid a pronounced shrinkage in surplus liquidity. Lenders are issuing certificates of deposit (CD), a money …
  • Congress slams Centre over privatisation of banks; cites RBI’s latest report to corner govt August 19, 2022 2:49 pm PTI New Delhi, August 19 The Congress on Friday hit out at the Modi government over its policy of privatising banks and said the Reserve Bank of India’s latest report has warned against further reduction of public sector banks. The Congress General …
  • Inflation too high: RBI August 19, 2022 2:47 pm 'Our actions would continue to be calibrated, measured and nimble depending upon the unfolding dynamics of inflation and economic activity' Shaktikanta Das File picture PTI   |   Mumbai   |   Published 19.08.22, 06:18 PM RBI Governor Shaktikanta …
  • Bank Privatisation: RBI clarifies stand on article recommending gradual approach to privatisation August 19, 2022 2:18 pm Reserve Bank of India (RBI) on Friday clarified its position on the privatization of Public Sector Banks (PSB). The Central Bank has responded against reports in certain sections of the media which stated that the RBI was against privatisation of PSBs. The …
  • Cong slams Centre over bank privatisation August 19, 2022 2:16 pm Jairam Ramesh has accused the government of working arbitrarily, saying it ignored the apex bank's warning even during demonetisation Jairam Ramesh File picture PTI   |   New Delhi   |   Published 19.08.22, 06:57 PM The Congress on Friday hit out at …
  • RBI clarifies on recent bulletin article on privatisation of public sector banks August 19, 2022 2:06 pm The Reserve Bank of India (RBI) on Friday clarified on a recent bulletin article on privatisation of public sector banks. Adopting a “big bang" approach to privatisation of PSBs would do more harm than good, said the article published by the RBI on …
  • Uncomfortable inflation level, resilient growth offer space for policy actions, RBI Governor says August 19, 2022 2:05 pm India's inflation has plateaued since its recent peak in April but the print remains "unacceptably and uncomfortably" high, while resilient domestic growth gives space to the central bank for policy actions, the Reserve Bank of India Governor …
  • Dastaan-Go: Hindustan gave ‘rupee-paisa’ to the world, so to speak? August 19, 2022 1:46 pm tale-go , Is there any time to tell and listen to stories? Maybe it would have happened. Or would it not happen. But one thing definitely happens. Tales, stories are interesting to everyone. It would be better if they were present on time. If it is not, it …
  • Inflation ‘unacceptably and uncomfortably’ high: RBI Governor at MPC meet August 19, 2022 1:37 pm RBI Governor Shaktikanta Das said the retail inflation is “unacceptably and uncomfortably” high and proposed the 50 basis points hike in repo rate at the recent monetary policy review meeting. The other members of the Monetary Policy Committee (MPC) had …
  • Sebi joins account aggregator ecosystem August 19, 2022 1:26 pm Capital markets regulator Sebi on Friday joined the account aggregator framework, a move that will give a boost to the Reserve Bank of India-regulated financial-data sharing system. The move will allow customers to share information about their mutual fund …
  • Gradual approach to bank privatisation would result in better outcom August 19, 2022 1:15 pm ANI | Updated: Aug 19, 2022 16:45 IST Mumbai (Maharashtra) [India], August 19 (ANI): The Reserve Bank of India (RBI) on Friday issued a clarification on a report related to the privatisation of public sector banks, as published in the August 2022 issue of …
  • AIFs, VCs may get to invest in cos with no local presence August 19, 2022 12:48 pm A recent circular by the Securities and Exchange Board of India on foreign investments by local alternative investment funds (AIFs) and venture capital firms is set to help many overseas companies that do not have a presence in India, as well as startups …
  • Post Office fixed deposits vs bank fixed deposits: Which one is safer to choose? August 19, 2022 12:44 pm The investment patterns and needs differ from investor to investor. It is quite intimidating to choose a perfect investment tool with the numerous financial choices we have at present. While conservative investors look for assured return assets, like fixed …
  • HDFC Bank Hikes Fixed Deposit Interest Rates; Check Latest FD Rates August 19, 2022 11:56 am HDFC Bank FD Rates: HDFC Bank has hiked its fixed deposit rates along with its recurring deposit. The private lender has increased interest rates across tenors by as up to 40 basis points (bps). These new rates announced will be effective from August 18, …
  • Bank Privatisation Should Be Gradual As Big Bang Approach May Do More Harm Than Good: RBI Paper August 19, 2022 11:56 am The Reserve Bank of India (RBI) has said that bank privatisation should be a gradual process as a big bang approach of public sector banks (PSBs) may do more harm than good. It added that the gradual approach would ensure that large-scale privatisation …
  • RBI Issues Clarification On Privatisation of PSBs, Says 'Gradual Approach To Result In Better Outcomes' August 19, 2022 11:55 am Clarifying on a recent bulletin article on the privatisation of public sector banks (PSBs), the Reserve Bank of India (RBI) on Friday said the article was authored by researchers of RBI and they were of the view that instead of a big bang approach, a …
  • India's weak rupee finds reprieve as foreigners seek bonds August 19, 2022 11:35 am A six-month exodus of foreign investors from India's bond markets seems to have ended this month, giving the battered rupee a much-needed reprieve. The return of those investment flows has happened alongside a softening of global oil prices and …
  • Gradual rather than big bang approach for banks' privatisation for better outcomes: RBI article August 19, 2022 11:34 am RBI on Friday said a research paper favouring gradual privatisation of Public Sector Banks (PSBs) is not its view but that of the authors of the report. The research paper published in the August 2022 issue of RBI Bulletin said ''the gradual …
  • U.S. Stock Futures Down Ahead Of Earnings; Crude Oil Drops August 19, 2022 10:57 am Pre-open movers U.S. stock futures traded lower in early pre-market trade on Friday after closing slightly higher in the previous session. Investors are awaiting earnings results from Deere & Company DE, Foot Locker, Inc. FL and The Buckle, Inc. BKE. …
  • RBI issues clarification on report on privatisation of PSBs August 19, 2022 10:56 am The Reserve Bank of India (RBI) on Friday issued a clarification on a bulletin article on privatisation of public sector banks. A press release by RBI stated the following: "As clearly stated in the article itself, the views expressed in the article …
  • Rajasthan accounts for highest share in cost of projects sanctioned by banks in FY22: RBI article August 19, 2022 10:24 am By PTI MUMBAI: Rajasthan accounted for the highest share in the total cost of projects sanctioned by banks and financial institutions in 2021-22, retaining the top place for two consecutive years, as per an article published in the RBI bulletin. Rajasthan …
  • Nifty, Sensex On Track For Fifth Consecutive Week Of Gains August 19, 2022 9:21 am Stock Market India: Benchmark equity indices regain lost ground ahead of Fed Indian equity benchmarks opened marginally higher on Friday and are on track to extend their weekly gains for the fifth week in a row even as the debate on US Federal Reserve' …
  • ICICI Bank hikes FD interest rates by up to 40 bps August 19, 2022 8:42 am Following the rate hike trend, ICICI Bank also has hiked fixed deposit (FD) interest rates for amounts below Rs 2 crore on select tenors by up to 40 basis points. The new rates are effective from August 19, 2022. will now offer interest rates between 2.75 …
  • Coal is poised to replace iron ore as a source of super profits August 19, 2022 8:34 am The coal producers’ extraordinary cashflow generation would translate to “super normal” dividends or buybacks “much larger than the boom in iron ore prices”, the fund manager said. Bell Potter’s Mark Paterson said in his 20 years of following commodities, …
  • Stock Market LIVE: Sensex tanks 600 pts; Nifty below 17,800; Bank, Auto drag August 19, 2022 8:29 am Despite Wall Street ending in green and the Asian market mostly up, uncertainty over the pace of interest rate hikes among traders will keep them on their toes on Friday. 19 Aug 2022, 01:59:15 PM IST Gold futures fall on low demand Gold prices on Friday …
  • Interest rates of small savings schemes unchanged since 2 years - here's why August 19, 2022 8:25 am The government has kept interest rates on small savings schemes unchanged since the past two years after they were last revised in the first quarter of 2020-21, even as banks have drastically hiked their home loan and term deposit rates after the Reserve …
  • Stock Market LIVE: Indices sink; Sensex down 600 pts; Bank, Autos, Pharma drag August 19, 2022 8:24 am Despite Wall Street ending in green and the Asian market mostly up, uncertainty over the pace of interest rate hikes among traders will keep them on their toes on Friday. 19 Aug 2022, 01:41:30 PM IST Multibagger stock hits upper circuit on four straight …
  • RBI warns, privatization of public sector banks will cause harm instead of profit August 19, 2022 8:06 am Highlights RBI said- Private banks have failed to provide banking services to people in rural and semi-urban areas. Public sector banks have also played an important role in making monetary policy successful amid economic pressure. Public sector banks do …
  • India's Gold Imports Up 6.4 Per Cent To $12.9 Billion In April-July This Fiscal Amid Healthy Demand August 19, 2022 7:17 am India's gold imports, which have a bearing on the country's Current Account Deficit (CAD), rose 6.4 percent to USD 12.9 billion from April-July this fiscal due to healthy demand, according to government data. The imports stood at USD 12 billion …
  • India RBI likely to set 7.23% cutoff yield on new 10-year bond August 19, 2022 6:09 am MUMBAI, Aug 19 (Reuters) - The Reserve Bank of India will likely set a cutoff yield of 7.23% on 130 billion rupees of the new 10-year bond being auctioned on Friday, according to the median estimates in a Reuters poll of 11 traders. India's federal …
  • India yields tad higher ahead of new 10-year bond sale August 19, 2022 6:01 am MUMBAI, - Indian government bond yields inched higher on Friday, a day after the Reserve Bank of India highlighted inflation concerns, while traders remained focused on upcoming debt supply, including a new 10-year note. India's central government will …
  • Tech is Changing the Way People Score and Sell Drugs in India August 19, 2022 5:53 am “I’ve stopped scoring entirely because of the number of stories of people getting caught,” said Ashish, who, like all the users and dealers quoted in this piece, asked us to change his name for security and privacy reasons.Ashish, 29, moved to the city of …
  • India aims to copy China, but unbridled digital lending off policy agenda August 19, 2022 4:59 am There’s a lot about Beijing’s decades-long infrastructure push and investment-led growth that India wants to emulate. But when it comes to the consumer economy, aping China’s out-of-control digital lending boom is strictly off the policy agenda. The …
  • Stock Market LIVE: Indices open flat; IT, Metal rise; Bank index drags August 19, 2022 4:47 am Despite Wall Street ending in green and the Asian market mostly up, uncertainty over the pace of interest rate hikes among traders will keep them on their toes on Friday. 19 Aug 2022, 10:16:26 AM IST India’s dollar credit market faces its worst drought in …
  • SBM Bank delivers a blow to card-fintechs barring onboarding of new users August 19, 2022 4:36 am of Mauritius (SBM) India, one of the most active partner banks for fintech firms, has told its card-fintech partners to immediately stop onboarding new users for its co-branded credit prepaid card product. This has impacted several startups in the space, …
  • More trouble for card fintechs; VC funds bullish on EVs & Semafor’s India launch August 19, 2022 4:36 am Fintech companies have had a rough time of late as the RBI has sought to tighten regulations for the sector. Spooked by these rules, a popular banking partner of fintech firms has now told them to stop taking on new customers for its co-branded prepaid …
  • India Top News Briefing Live, August 18: Manish Sisodia’s residence raided by CBI, Arvind Kejriwal says bid to stop Delhi’s good work August 19, 2022 4:21 am Meanwhile, 19 Covid clusters were found in the Mahadevapura zone of Bengaluru and two in the West zone of the city. Surat: Locals wade through a waterlogged street following incessant monsoon rainfall, in Surat, Thursday, Aug. 18, 2022. (PTI Photo) Experts …
  • India, Pakistan left in a lurch as gas deliveries get redirected to Europe August 19, 2022 4:08 am Russia’s war in Ukraine has Europe bracing for a tough winter, but the costs are piling up higher in emerging nations as governments struggle to keep energy flowing to citizens hit by surging inflation. Pakistan’s government is triggering rolling blackouts …
  • Experts Explain: An India Blockchain Platform August 19, 2022 2:35 am There is an old saying: “Building the road is the first step to becoming prosperous”. In recent years, India has made a significant effort to become a digital society by building a large citizen-scale digital public infrastructure. The Government of India …
  • Multibagger stock of 2022 hits 52-week-high, as Board approves stock split August 19, 2022 2:22 am With a market cap of ₹322.22 Cr, Maximus International Ltd. is a small cap company that operates in the petrochemical industry. A non-banking finance company with its base in Vadodara and registered with the Reserve Bank of India, Maximus International …
  • Bank privatisation should be gradual, motes RBI paper August 19, 2022 1:17 am Bank privatisation should be a gradual process as big-bang sales of public sector banks can do more harm than good, a Reserve Bank of India (RBI) paper said. The paper argued that while private sector lenders are more efficient in profit maximisation, …
  • Sebi allows AIFs to go global, drops India connect clause August 19, 2022 12:46 am By Ashley Coutinho The Securities and Exchange Board of India (Sebi) on Thursday allowed alternative investment funds (AIFs) to invest in overseas companies that may not have an India connection by way of a back office or subsidiary. The requirement to …
  • Asset quality of NBFCs worsened in Q3FY22: RBI paper August 19, 2022 12:46 am Asset quality of the non-banking financial companies (NBFC) sector deteriorated in Q3FY22 with the rollback of regulatory forbearances, even as the companies’ balance sheets grew faster and bottom lines improved, said an article by researchers at the …
  • RBI paper wants gradual privatisation of banks August 19, 2022 12:46 am A “big bang” approach to privatisation of public sector banks (PSBs) may be counterproductive, given their important role in monetary policy transmission and financial inclusion, researchers at Reserve Bank of India’s (RBI’s) economic and policy research …
  • ReNew Power Announces Results for the First Quarter of Fiscal Year 2023 (Q1 FY23), ended June 30, 2022 August 18, 2022 11:34 pm GURUGRAM, India, Aug. 18, 2022 /PRNewswire/ -- ReNew Energy Global Plc ("ReNew" or "the Company") RNW RNWWW))), India's leading renewable energy company in terms of total commissioned capacity, today announced its …
  • List of IFSC Code of  COASTAL LOCAL AREA BANK LTD for 2022 August 18, 2022 11:06 pm Home/Stories/List of IFSC Code of  COASTAL LOCAL AREA BANK LTD for 2022 Coastal Bank was the first Local Area Bank to be licensed by the Reserve Bank of India in 1999, and it began operations on December 27, 1999. The bank is proud to have been in …
  • Banks, other PSPs to bear cost of lower transaction charges: Analysts August 18, 2022 10:44 pm Banks and other payment service providers (PSPs) will have to absorb the burden of lower transaction charges in India’s payments ecosystem, analysts said a day after the Reserve Bank of India (RBI) released a discussion paper on the subject. While the …
  • Fixed Depsit Interest Rate: Check latest FD rates of HDFC Bank, SBI, Kotak Mahindra Bank, PNB, ICICI Bank, BoB, IOB, Ujjivan August 18, 2022 10:29 pm Fixed Deposit Interest Rate: After the Reserve Bank of India’s (RBI) repo rate hike of 50 bps, several public and private banks have increased interest rates on their fixed deposits. Among the private sectors banks, HDFC Bank Limited has increased the …
  • Renew Power Announces Results For The First Quarter Of Fiscal Year 2023 (Q1 FY23), Ended June 30, 2022' August 18, 2022 10:26 pm (MENAFN- PR Newswire) GURUGRAM, India, Aug. 18, 2022 /PRNewswire/ -- ReNew Energy Global Plc ('ReNew' or 'the Company') (Nasdaq: RNW , RNWWW), India's leading renewable energy company in terms of total commissioned capacity, …
  • RBI sounds caution on bank selloff August 18, 2022 9:23 pm Researchers said public sector banks have fared better than their private sector counterparts when it came to providing loans to the needy Representational Image File Photo Our Special Correspondent   |   Mumbai   |   Published 19.08.22, 01:46 AM The …
  • 7 banks hike interest rate in range of 15-50 basis points to boost liquidity August 18, 2022 8:07 pm 7 banks hike interest rate in range of 15-50 basis points to boost liquidityb | Photo credit: Reuters Taking cue from the Reserve Bank of India’s (RBI) latest revision in the benchmark lending rates, most commercial banks are increasing their interest …
  • Cabinet Approves Interest Subvention of 1.5% on Short-Term Agriculture Loans August 18, 2022 7:35 pm Banks will be able to absorb the rise in funding costs and be encouraged to lend to farmers for short-term agricultural needs. The Union Cabinet, chaired by PM Narendra Modi on Wednesday approved the restoration of interest subvention of 1.5% on short-term …
  • RBI turns net seller of US currency in June; sells $3.719 bn: Data August 18, 2022 5:43 pm Reserve Bank of India turned net seller of the US currency in June after it sold USD 3.719 billion on a net basis, the central bank data showed. In the reporting month, the central bank purchased USD 18.96 billion from the spot market and sold USD 22.679 …
  • Big-bang privatisation of PSUs can be harmful, says RBI article August 18, 2022 5:26 pm A gradual approach to privatise public sector banks (PSBs) is more ideal than taking a big-bang approach, a study by Reserve Bank of India (RBI) staff has concluded. It has backed the government’s idea to privatise two PSBs initially. Such a gradual …
  • Interest Rates Of Small Savings Schemes Static Due To Interest Burden On Banks August 18, 2022 5:07 pm (MENAFN- IANS) By Animesh Singh New Delhi, Aug 18 (IANS) The government has kept interest rates on small savings schemes unchanged since the past two years after they were last revised in the first quarter of 2020-21, even as banks have drastically hiked …
  • Bank holidays August 2022: Is tomorrow a bank holiday on the occasion of Janmashtami? August 18, 2022 5:00 pm Following the extended holiday weekend leading up to Independence Day last week, people are also looking forward to the upcoming weekend with Janmashtami around the corner however, the question is whether it's a bank holiday on Friday, August 19, the …
  • RBI cancels licence of Deccan Urban Co-operative Bank August 18, 2022 4:51 pm The Reserve Bank of India on Thursday said the licence of Deccan Urban Co-operative Bank, Karnataka, has been cancelled as the lender does not have adequate capital and earning prospects. As per the data submitted by the bank, more than 99 per cent of the …
  • Bank Privatization: RBI said that privatization of public sector banks will do more harm than good! August 18, 2022 4:38 pm Public Sector Bank Privatisation: On one hand, the government is aiming to privatize two public sector banks in the current financial year 2022-23. And there are plans to privatize more banks in the coming days. But the question has been raised in the …
  • Latest News | RBI's Interventions Reduced Drawdown of Forex Reserves During Currency Volatility Periods: Study August 18, 2022 4:03 pm Mumbai, Aug 18 (PTI) Drawdown of forex reserves during periods of currency market volatilities has reduced over time due to RBI's interventions, a paper by central bank executives has said. Expectations of volatility have also reduced during the time …
  • India's NBFCs on a stronger wicket now, RBI economists say August 18, 2022 4:02 pm Confidence in NBFCs seems to be strengthening as a study published in the latest RBI bulletin shows that besides a double-digit growth in their balance sheet in 2021 and improved profitability, their capital position is stronger and also the gap between …
  • Latest News | RBI Turns Net Seller of US Currency in June; Sells USD 3.719 Billion August 18, 2022 4:02 pm Mumbai, Aug 18 (PTI) Reserve Bank of India turned net seller of the US currency in June after it sold USD 3.719 billion on a net basis, the central bank data showed. In the reporting month, the central bank purchased USD 18.96 billion from the spot market …
  • RBI to wind up Deccan Urban Co-operative Bank, cancels license August 18, 2022 3:57 pm The Reserve Bank of India (RBI) has cancelled the license of Karnataka-based Deccan Urban Co-operative Bank. Also, RBI has ceased the bank from carrying on any banking business, with effect from the close of business on Thursday. Further, it has directed …
  • Big bang privatisation of banks can do more harm than good: RBI article August 18, 2022 3:33 pm Big bang privatisation of public sector banks can do more harm than good, an RBI article has warned asking the government to take a nuanced approach on the issue. While private sector banks (PVBs) are more efficient in profit maximisation, their public …
  • India may settle Cuba trade in Rupees August 18, 2022 3:20 pm Indian trade with Cuba may be settled in rupees or euros in the future, reviving memories of friendly relations that existed between the two nations when the late Fidel Castro ruled the North American nation. Cuban Central Bank officials for the first time …
  • Large borrowers return to bank fold, help credit growth August 18, 2022 3:15 pm Large corporates have shifted their focus on banks to fulfil their fund requirements instead of raising funds overseas or from the local bond market. This may help credit growth to sustain at over 14% level for the current fiscal, the country’s top bankers …
  • Reserve Bank Mulls Introducing Charges On UPI-Based Funds Transfer August 18, 2022 2:03 pm The Reserve Bank of India’s (RBI’s) has sought feedback from stakeholders on charges in payment systems. The central bank is examining possibilities of recovering cost of its large investment and operational expenditure in payments systems, regulating …
  • RBI Bulletin: India's Inflation Still Elevated, May Need Monetary Policy Response August 18, 2022 2:02 pm India’s inflation may still require a monetary policy response going forward as it remains above the target range even though it has eased in recent months, the Reserve Bank of India (RBI) said in the monthly bulletin released on Thursday. "In India, …
  • Rule tweak deprives dalit student of sanctioned scholarship August 18, 2022 1:45 pm Nagpur: Aruna Mahananda, who is son of a landless dalit farmer from Odisha, has knocked the doors of judiciary after social justice and empowerment department rejected his foreign education scholarship as his PhD topic is India-focused. The department has …
  • Inflation peaked in India in April 2022, RBI says August 18, 2022 12:52 pm The Reserve Bank of India in its August bulletin noted that inflation in July 2022 eased by 30 basis points from June 2022 and 60 basis points from the average of 7.3% for Q1 FY23, thereby validating its hypothesis that the retail inflation peaked in April …
  • How SBI, BoB and Axis Bank are trying to lure investors with higher FD rates August 18, 2022 11:45 am Several lenders, including the country’s largest bank, State Bank of India (SBI), have raised interest on deposit rates in order to woo customers with higher fixed deposit (FD) interest rates. As the Reserve Bank of India (RBI) is hiking the repo rates in …
  • Banks hike fixed deposit rates ahead of festive season August 18, 2022 10:53 am MUMBAI:  Ahead of the festive season, many banks in India have hiked their deposit rates to fund the demands for loans. This is also in consonant with the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) stance in the last 3 meetings. The …
  • Kotak MF sees India's bond yields confined in tighter ranges August 18, 2022 10:09 am Falling global oil prices and tempering inflation levels will keep Indian bond yields in tighter ranges and cause longer term yields to compress further, says Asset Management Company. Lakshmi Iyer, chief investment officer for debt and head products at …
  • Reserve Bank warns of ‘price spiral’ in South Africa August 18, 2022 7:09 am The South African Reserve Bank (SARB) warns that above-inflation wage negotiations could lead to price-spiral and a tighter monetary policy in the country. Speaking on Wednesday (17 August) at a standing committee on finance, the SARB’s deputy governor …
  • Bank of Baroda raises Rs 1,000 cr via housing bonds August 18, 2022 1:09 am Bank of Baroda on Wednesday said it has raised Rs 1,000 crore through long-term bonds for financing infrastructure and affordable housing. The bank in June approved raising funds of up to Rs 5,000 crore in multiple tranches during FY23 via affordable …
  • Reserve Bank of India tightens noose on fraudulent Chinese lending apps August 17, 2022 3:16 pm Chinese digital loan apps were utilising the loophole in the regulatory guidelines to dupe Indian clients. As fintech companies were unlikely to get fresh non-banking financial companies (NBFC) license from RBI to offer loans, they devised the Memorandum …
  • AL Fardan Exchange LLC felicitate Food ATM's founder to celebrate 75 years of India Independence Day August 17, 2022 9:13 am Published: Wed 17 Aug 2022, 10:57 AM Last updated: Wed 17 Aug 2022, 10:59 AM Al Fardan Exchange, a leading exchange in the UAE, celebrated 75 years of India's Independence by felicitating Food ATM founder Ayesha Khan. The company extends its support to …