Rbi

RBI Signals Scope For More Rate Cuts To Push Growth

Business | Reuters | Friday October 18, 2019

Retail inflation rose close to the central bank's medium-term target of 4 per cent in September for the first time in 14 months but is expected to remain well within the mandated 2-6 per cent band until first quarter of 2020-21 as per RBI projections.

Amid PMC Bank Scare, HDFC Bank Clarifies Why It's Stamping Passbooks

Business | Edited By Abhishek Vasudev | Friday October 18, 2019

In a circular released in June 2017, the RBI had directed all commercial, small and payments banks to "incorporate information about 'deposit insurance cover'.

Supreme Court Tells Crisis-Hit PMC Bank Petitioner To Approach High Court

India News | Reported by A Vaidyanathan, Edited by Debanish Achom | Friday October 18, 2019

Depositors of the crisis-hit Punjab and Maharashtra Co-operative (PMC) Bank will have to stick to the withdrawal limit of Rs 40,000 for six months that was fixed by the Reserve Bank of India (RBI). A petition in the Supreme Court, seeking a bailout package and withdrawal of limit for depositors, filed by Delhi-based activist Bejon Kumar Misra was t...

Sell Our Assets To Pay Off PMC Bank's Dues, Wadhawans To RBI, Agencies

India News | Press Trust of India | Thursday October 17, 2019

Promoters of real estate group HDIL, Rakesh and Sarang Wadhawan, who are the prime accused in the PMC Bank scam, have requested the RBI and investigation agencies to sell off their assets, including a yacht, a Rolls Royce and an aircraft, to pay off the bank's dues.

PMC Bank Crisis: PMC Bank Customers Stage Protest Outside RBI

India News | Press Trust of India | Thursday October 17, 2019

Around 50 depositories of the scam-hit Punjab and Maharashtra Cooperative Bank staged a protest outside the RBI demanding revoking restrictions on cash withdrawal, currently capped at Rs 40,000 over a six-month period.

Long Before Finance Minister's Dig, Raghuram Rajan Said This On RBI Job

Book Excerpts | Sonia Singh | Wednesday October 16, 2019

Exclusive excerpt from 'Defining India: Through Their Eyes' by Sonia Singh

Raghuram Rajan "Chose" To Head RBI At A Time...: Nirmala Sitharaman's Jibe

India News | Edited By Debanish Achom | Wednesday October 16, 2019

Finance Minister Nirmala Sitharaman said a "very democratised leadership led to a whole lot of corruption", days after former Reserve Bank of India Governor Raghuram Rajan criticised the government led by Prime Minister Narendra Modi for being "extremely centralised".

Banks' "Worst" Time Under Manmohan Singh-Raghuram Rajan: Finance Minister

India News | Edited By Debanish Achom | Thursday October 17, 2019

Finance Minister Nirmala Sitharaman has turned the tables on her macroeconomics opponents by pointing at a massive amount of bad loans in state-run banks when the United Progressive Alliance (UPA) was in power. She held "the combination" of former Prime Minister Manmohan Singh and former Reserve Bank of India Governor Raghuram Rajan responsible for...

Moody's Downgrades Indiabulls Housing Finance After RBI's Merger Rejection

Business | Indo-Asian News Service | Monday October 14, 2019

According to Moody's rating rationale, the downgrade was driven by Indiabulls' ongoing challenging access to funding.

RBI Imposes Rs 1 Crore Penalty On Lakshmi Vilas Bank

Business | Indo-Asian News Service | Monday October 14, 2019

The central bank said its statutory inspection of the bank with reference to its financial position as on March 31, 2017, revealed, inter alia, non-compliance with directions issued by RBI on"Income Recognition and Asset Classification (IRAC) norms".

RBI Raises Withdrawal Limit To Rs 40,000 For PMC Bank Account Holders

Business | Written By Anshul | Monday October 14, 2019

PMC Bank news: With the above relaxation, more than 77 per cent of the depositors of the bank will be able to withdraw their entire account balance, RBI said.

Retail Inflation Hits 14-Month High Of 3.99% In September

Business | Edited By Abhishek Vasudev | Monday October 14, 2019

Inflation picked up in September on back of higher consumer inflation in vegetables and meat and fish categories.

Wholesale Inflation At 0.33% In September

Business | Edited by Sandeep Singh | Monday October 14, 2019

The Reserve Bank of India (RBI) tracks consumer inflation primarily while formulating its monetary policy.

Over 200% Spike In Onion Prices Unlikely To Deter RBI From Rate Cuts

Business | Anirban Nag, Bloomberg | Monday October 14, 2019

Onions have a weight of 0.6 per cent in the overall inflation basket and contribute about 10 per cent to the vegetable basket. The inflation-targeting Reserve Bank of India expects food prices to stabilize, while forecasting headline inflation to stay well below its medium term target of 4 per cent for the rest of the fiscal year through March.

"Majoritarianism Taking India Down Dark, Uncertain Path": Raghuram Rajan

India News | Edited By Debanish Achom | Sunday October 13, 2019

Former Reserve Bank of India governor Raghuram Rajan in his latest criticism seen to be directed at the centre has warned of the ill effects of "divisive, populist majoritarianism". The former RBI governor whose policy thinking differs from that of the government led by Prime Minister Narendra Modi - Mr Rajan is a big critic of demonetisation - has...