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…]
Tag: Reserve Bank of India
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…]
Viral Acharya resigns: Know his achievements, controversies and lot more
Viral Acharya has been on the advisory council of the Bombay Stock Exchange (BSE) Training Institute
RBI’s credibility, reputation could be irretrievably damaged: Chidambaram
Kolkata: Assailing the Narendra Modi government for making efforts to “capture” the RBI, Congress leader and former Union finance minister P Chidambaram on Thursday said the chain of events could “irretrievably damage” the credibility and reputation of the apex bank. Chidambarm alleged the Modi government demanded Rs 1 lakh crore[Read More…]
Housing prices in Delhi fall over last 8 years: RBI data
Mumbai: Housing prices in Delhi have fallen marginally for the first time over the last eight years even as all-India house prices went up by an average of 5.3 per cent in the quarter ended June 2018, according to RBI data. “Except Delhi, all other cities recorded a rise in[Read More…]
RBI directs Yes Bank to appoint CEO Rana Kapoor’s successor by February 1
Reserve Bank of India has reaffirmed Yes Bank to appoint a new Chief Executive Officer for the company by February 01, 2019. The RBI on Wednesday directed the private sector lender bank to look for a successor and get the appointment procedure done by February next year. The private sector[Read More…]
RBI unlikely to hike rates in rest of FY19: SBI report
Mumbai: The Reserve Bank of India (RBI) is not expected to hike key lending rates in the current fiscal, a SBI Ecowrap report said on Saturday. “CPI inflation marginally increased to 3.77 per cent in September 2018. Interestingly, on a m-o-m basis, rural food inflation has registered a decline, even[Read More…]
Fund exodus, equities sell-off plunge rupee; touches new low of 74.48/$
Mumbai: Exodus of foreign funds, along with an expected rise in the US interest rates and global equities sell-off plunged the Indian rupee to a fresh record low of 74.48 to a US dollar on Thursday. However, heavy intervention by the Reserve Bank of India (RBI) and lower crude oil[Read More…]
Fund outflows, oil prices to sink rupee further; 75-mark in sight
Mumbai: The Reserve Bank of India’s (RBI) stance, along with an expected hike in the US lending rates and high crude oil prices are expected to further exert pressure on the Indian rupee in the coming week, experts say. In addition, the continuous outflow of foreign funds from the equity[Read More…]
RBI to develop app for visually impaired to help identify new notes
In an effort to help the visually impaired, the Reserve Bank of India is likely to develop an app that will help them identify new currency notes. The move came after an application was filed by advocate Rohti Dandriyal in a pending PIL filed by three advocates, a company secretary[Read More…]
Gita Gopinath is right: Demonetisation is not recommendable, either in theory or in practice
The world is not new to economic blunders made by over-confident rulers. The world is not new to pain. But perhaps sometimes, a nation must suffer in order to realise that to equate its ruler with its God, comes with its own perils. As early as 301 AD,[Read More…]
RBI withdraws permission to open new branches of Bandhan Bank
Kolkata: Private-lender Bandhan Bank on Friday said the Reserve Bank of India (RBI) has withdrawn its general permission to open new branches and frozen the remuneration of the lender’s MD and CEO Chandra Shekhar Ghosh till further notice as it failed to comply with a licensing condition. “RBI has communicated[Read More…]
RBI can sell USD 25 bn more to arrest rupee fall: SBI report
The Reserve Bank of India (RBI) should intervene in both spot and forward markets to arrest Indian rupee’s depreciation, suggested a State Bank of India (SBI) Ecowrap report on Tuesday. As per the report, during the June 2008 to May 2009 period, when rupee depreciated by 13 per cent, the[Read More…]
Retail inflation cools down but October RBI rate hike imminent: SBI
Even as the country’s retail inflation cooled off in August, an October rate hike by the Reserve bank of India (RBI) is imminent, a SBI Ecowrap report said on Wednesday. “Even though CPI (Consumer Price Index) inflation has cooled off, we believe October rate hike of 25 bps is imminent,[Read More…]
99.3% demonetised currency worth Rs 15.3 lakh crore returned: RBI
In its annual report 2017-18, the Reserve Bank of India (RBI) said that the processing of demonetised Rs 500 and 1000 banknotes is complete and it has emerged that nearly 99.3 per cent of the notes worth Rs 15.3 lakh crore have been returned to the banks. An amount of[Read More…]
Rupee continues its free fall, record low of 70.32 a dollar
Downslide of Indian rupee continues to hit fresh records as it slumped 43 paise against the American dollar to trade at a life-time low of 70.32 on Thursday, August 16. Experts believe that the rupee is unlikely to recover soon. At the Interbank Foreign Exchange, the rupee opened at a[Read More…]
RBI denies China’s claim of printing money; Congress questions Government
Chinese media is reported saying that China has won the contract to print Indian currency. Not just Indian, many other countries gave handed-over the contract to China for the printing of their currency notes, said China Banknote Printing and Minting Corporation (CBPMC) President Liu Guisheng. According to the South China[Read More…]
7th Pay Commission: Good News! Government likely to hike minimum pay this Independence Day
Ahead of 15th August, a lot of speculations have been there regarding the hike in minimum pay. As per the words spreading across the media, the central government is willing to dole out hikes. The government is likely to raise minimum pay to Rs 20,000 from Rs 18,000 that was[Read More…]
Who is new RBI director Swaminathan Gurumurthy?
Chartered Accountant and RSS idealogue Swaminathan Gurumurthy has been appointed as the new part-time, non-official directors on the central board of Reserve Bank of India. Gurumurthy, who is the co-convenor of RSS affiliate Swadeshi Jagaran Manch had gained recognition from his views on Swadeshi economics. Apart from CA, he is[Read More…]
Government revenue collection rises to Rs 96483 cr in July under GST
Revenue collection under the Goods and Services Tax (GST) crossed the Rs 95,000 crore mark in July for the second month in a row and stood at Rs 96,483 crore, the government said on Wednesday. The government said the revenue was broadly on expected lines and that Rs 3,899 crore[Read More…]
New Rs 100 note brings worry to ATM operators
Earlier this week, Reserve Bank of India (RBI) announced launching a new series of 100-rupee notes. However, the move has brought along a fresh headache for the major companies engaged in the manufacture and supply of Automatic Teller Machines (ATMs) in the country. Like the new post-demonetisation Rs 2,000, Rs[Read More…]
Regulate cryptocurrency to curb illegal transaction: RBI to SC
New Delhi: The Reserve Bank of India (RBI) on Friday told the Supreme Court that it is necessary to regulate the Bitcoin and other cryptocurrencies to check illegal transactions which will impact the international flow of funds. The RBI told the bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar[Read More…]