The RBI released on Thursday its operating guidelines for Payment Banks and Small Finance Banks, noting the prudential regulatory framework for the entities under the two categories will largely be drawn from the Basel standards.
A senior Reserve Bank official Thursday lambasted prepaid payment instrument (PPI) providers for laxity in meeting KYC norms, saying it is leading to opacity in the movement of funds.
The market continued to feel the ripple effect of lingering Brexit worries and a lacklustre Europe as the Sensex slumped 115 points, dragged down by a rush by investors to book profits in recent outperformers.
Looking at advancing the date of Budget presentation to February 2 or even earlier, the Finance Ministry Thursday briefed a Parliamentary panel on the proposed change as also the government's decision to merge railway budget with general budget.
Finance Ministry officials will brief a Parliamentary panel Thursday on the merger of Railway Budget with General Budget and advancing the date of budget presentation.
The rupee Friday lost 5 paise to end at 66.51, halting its three-straight session rally, on fresh demand for the American currency from importers and banks amid bout of global risk aversion.
The NSE Nifty reclaimed the 8,800-mark, but could not hold on to it under the selling pressure. It closed down 25.20 points, or 0.29 percent, at 8,743.95.
A day after the monetary policy committee (MPC) debuted with a surprise 0.25 percent cut in rates, analysts today said the Reserve Bank will continue with the accommodative stance but the next action can come only in the February review.
More than 1,000 new foreign portfolio investors (FPIs) have registered with capital markets regulator Sebi in April-July of 2016-17, a sign of their willingness to be part of India's growth story.
In a good news for consumers ahead of Diwali, bankers today promised to swiftly pass on the 0.25 per cent rate cut effected by the Reserve Bank to borrowers, a move that would lower home, auto and corporate loans.
In order to effectively deal with high NPA problem, the Reserve Bank today said it will come out with a modified guidelines by month-end to allow portion of sustainable bad loans to be treated as a standard asset.
Stocks ended in the green for the third day Tuesday as the benchmark Sensex rose over 91 points after rate-sensitive stocks broke free on RBI's surprise decision to cut policy rate by 0.25 percent to 6.25 percent, a 6-year low.
The Finance Ministry on Tuesday said the 0.25 percent rate cut by the Reserve Bank will inject liquidity in the system and help achieve closer to 8 percent growth in the current fiscal.
In the first monetary policy review under RBI Governor Urjit Patel, the interest rate was today cut by 0.25 percent to six-year low of 6.25 percent in a unanimous decision by the new rate-setting panel MPC.
Stating that the RBI will watch out for outcome of US Presidential elections, Patel added that for the first time in a long time, weak global demand is going to bring down trade volume.
Mutual fund industry's asset base surged by 12 percent to a record high of Rs 16.11 lakh crore in July-September quarter helped by strong participation from retail investors and robust inflow in equity schemes.
The newly-constituted Monetary Policy Committee (MPC) headed by RBI Governor Urjit Patel on Tuesday cut repo rate by 0.25 percent in its maiden policy review which is likely to make home and auto loans cheaper.
The Sensex surged by over 159 points today as interest-sensitive stocks took the centre-stage ahead of RBI's announcement of its policy decision later in the day amid firm Asian cues.
Moving away from the usual practice of announcement at 11 am, the fourth bi-monthly monetary policy review would be made public at 2:30 pm after the MPC meeting.
To boost inflows of foreign funds into Indian capital markets, regulator Sebi today raised the FPI investment limit in government securities to Rs 1.48 lakh crore, which will be further increased to Rs 1.52 lakh crore from next January.