Tag: Reserve Bank of India

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…]

BJP spreading rumours about Bengal violence: Mamata Banerjee

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…]

RBI slaps Rs 1-cr penalty on Bank of Maharashtra

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 Governor Shaktikanta Das to meet MSMEs, NBFCs next week

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…]

India's December manufacturing PMI growth eases

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…]

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

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…]

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