The RBI has directed that post merger of HDFC Ergo Health Insurance Company Limited with HDFC Ergo General Insurance Company, subsidiaries of the corporation, the stake of the corporation in the merged entity should be brought down to 50 per cent or below within a period of six months from the merger.
Tag: Reserve Bank of India
Rs 65,000 cr needed to feed the poor: Former RBI governor Raghuram Rajan to Rahul Gandhi
Former Reserve Bank of India Governor Raghuram Rajan in a video talk with Congress leader Rahul Gandhi, streamed by the party, said that country needs Rs 65,000 crore to feed the poor.
Highlights of RBI press conference: Shaktikanta Das expresses concerns on declining macro economy
Here are highlights from RBI Governor Shaktikanta Das’ media address!
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Coronavirus outbreak: Here’s why RBI is urging to use digital payment options
RBI wishes to bring to the notice of the general public that non-cash digital payment options (like NEFT, IMPS, UPI and BBPS) are available round the clock
Supreme Court lifts RBI ban, allows trading in cryptocurrencies
The ban on cryptocurrencies was aimed at “ring-fencing” the country’s financial system from the private virtual currencies, deemed illegal by the government.
No charges on NEFT online money transfer from January: RBI
RBI has asked banks not to charge savings bank account customers for online transactions in the NEFT or National Electronic Funds Transfer system with effect from January
Private consumption slows, Indian economy seen ‘fraught with risks’
The RBI in its Monetary Policy Report, October 2019, has also said that a combination of domestic and global headwinds has depressed economic activity in the country.
Banks’ credit growth rate slows to 8.8%, shows RBI data
Outstanding loans rose Rs 596.53 trillion ($8.40 billion) from a fortnight earlier to Rs 97.71 trillion as on September 27.
‘Not aware’ of interim dividend demand from Centre: RBI Governor
The governor’s assertion comes after some reports suggested that the government may seek an interim dividend of Rs 30,000 crore from the apex bank.
Watch: Banks depositors panic as RBI bars PMC Bank from business transactions
The PMC Bank has been barred from granting, renewing and loans and advances, make any investments, accept fresh deposits, etc, without the prior written approval from RBI.
Bankers scratch heads as RBI uses Tharoor’s ‘floccinaucinihilipilification’ during monetary policy meeting
The 29-letter word got widespread publicity last year when Shashi Tharoor mentioned it in a tweet promoting his book on PM Narendra Modi.
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…]
Fact Check: No banks will not be closed on every Saturday from 1st June
The central bank said that it has not issued any direction with this regard
Indian economy grim as several key indicators drop: Experts
The Indian economy may be moving towards a slowdown as the country has off-late witnessed a drop in several key economic indicators, experts said. After a fall in auto sales, a shortfall in collection of direct taxes among others, now household savings in the country too have declined. In proportion[Read More…]
Sanctity of RBI must be maintained: Mamata Banerjee
Kolkata: West Bengal Chief Minister Mamata Banerjee on Monday said the dignity of the Reserve Bank of India (RBI) has “diminished” as on its foundation day, she called for maintaining “the sanctity” of the central bank along with other institutions. “On this day in 1935, the Reserve Bank of India[Read More…]
Government to introduce Rs 20 coin soon; Know features, shape and other details
Ever since demonetisation struck the country, the Reserve Bank of India (RBI) has been rolling out new currency notes one after the other. After a series of colourful notes, the government is set to release the first-ever Rs 20 coin which is specially designed for virtually impaired people. The all-new Rs[Read More…]
RBI slaps Rs 1-cr penalty on Bank of Maharashtra
Mumbai: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on Bank of Maharashtra for deficiencies in regulatory compliance. According to the RBI, the fine was imposed by an order dated January 4, 2019 “for non-compliance with ‘Master Directions on Frauds-Classification and Reporting’ dated[Read More…]
RBI forms panel led by Nandan Nilekani to deepen digital payments
Mumbai, The Reserve Bank of India (RBI) on Tuesday appointed Infosys co-founder Nandan Nilekani as the Chairman of a five-member committee to accelerate digitisation of the economy and boost financial inclusion. The committee will submit its report within 90 days from the date of its first meeting. “With a view[Read More…]
RBI Governor Shaktikanta Das to meet MSMEs, NBFCs next week
Mumbai: A day after the Reserve Bank allowed restructuring defaulted loans of up to Rs 25 crore taken by micro, small and medium enterprises (MSMEs), its Governor Shaktikanta Das said he will hold talks with representatives from the MSME and non-banking financial companies (NBFCs) next week. “Will hold meetings with[Read More…]
Economic Growth: One good policy, and a few more to go
By Taponeel Mukherjee Access to credit, data, and transportation are among the most crucial drivers of economic well-being. To ensure better access to critical needs in India, Rod Tidwell’s famous line from Jerry Maguire, “Show me the money”, would hold in good stead. Access to the correct quality and quantity[Read More…]
Here are some key personalities who have resigned under the Modi regime
With Urjit Patel calling it a day the list of resignations occurring under the Modi government increases further. Urjit Patel resigned from his post of RBI Governor 9 months before his term would have ended in September 2018. Other key persons who have quit after the Modi govt came to power are[Read More…]
RBI deputy governor Viral Acharya has not resigned: RBI spokesperson
Reports of RBI Deputy governor Viral Acharya resigning has been denied by RBI spokesperson. Acharya assumed the office of Deputy Governor of RBI on January 20, 2017. Viral is an alumnus of New York University (PhD), Indian Institute of Technology Bombay (B.Tech.) and Ruparel College (HSC). Who is Viral Acharya? Achievement,[Read More…]
RBI Governor Urjit Patel steps down
Urjit Patel, the Governor of Reserve Bank of India has given his resignation from the post on Monday December 10. Patel said he was resigning on the account of personal reasons. “On account of personal reasons, I have decided to step down from my current position (RBI Governor) effective immediately.[Read More…]
RBI to pump liquidity worth Rs 8,000 cr on Nov 22
Mumbai: The Reserve Bank of India (RBI) would inject Rs 8,000 crore into the market by purchasing government securities on November 22, 2018. The decision comes amid concerns of a liquidity crisis in the economy after the financial services company IL&FS reported defaults in September. “Based on an assessment of[Read More…]
Rahul hopes RBI Governor will show Modi ‘his place’
New Delhi: Congress President Rahul Gandhi on Monday charged the Centre with destroying institutions and hoped Reserve Bank of India (RBI) Governor Urjit Patel will show Prime Minister Narendra Modi “his place”. He accused Modi of attempting to “destroy the RBI” through his “puppets” and “cronies”. “Modi and his coterie[Read More…]