Economy

Uttar Pradesh: Money seized from Congress candidate's vehicle

PMO reviews 59-minute loan scheme, Rs 37,870 crore disbursed

New Delhi: The Prime Minister’s Office (PMO) this week reviewed the 59-minute loan scheme for micro, small and medium enterprises (MSMEs) with the Finance Ministry officials and asked them to increase disbursals. Sources said since November last year, when the scheme was launched, Rs 37,870-crore loans were disbursed till March[Read More…]

RBI consultation to change 25 bps cut norm soon

RBI consultation to change 25 basis points cut norm soon

New Delhi: The RBI could soon start discussions to break away from the convention of reducing key policy rate by 25 basis points or multiples thereof shortly with stakeholders like lenders, domain experts and within the Central Bank. “There is a need to consider interest rate adjustments, not necessarily in[Read More…]

RBI cuts repo rate by 25 base points to 6% from 6.25%

RBI cuts repo rate by 25 base points to 6% from 6.25%

Mumbai: In the first monetary policy review of the current fiscal, the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks by 25 basis points (bps) to 6 per cent. Muted growth and subdued inflation prompted the Reserve Bank of India (RBI) on Thursday[Read More…]

SC nixes RBI circular on bad loans as ultra vires

SC nixes RBI circular on bad loans as ultra vires

New Delhi: In a huge relief to the regulated sector, the Supreme Court on Tuesday struck down as ultra vires the controversial Reserve Bank of India (RBI) circular mandating resolution of loans of Rs. 2,000 crore and above even for a single day. “We have declared RBI circular ultra vires,”[Read More…]

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