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.
Tag: Reserve Bank of India
Outstanding loans rose Rs 596.53 trillion ($8.40 billion) from a fortnight earlier to Rs 97.71 trillion as on September 27.
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.
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.
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…]
The central bank said that it has not issued any direction with this regard
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…]
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…]
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…]
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…]
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…]
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…]
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…]
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…]
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…]
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…]
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…]
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…]
Viral Acharya has been on the advisory council of the Bombay Stock Exchange (BSE) Training Institute