Repo to be reference rate for monetary policy: RBI

In line with international practice, the RBI Tuesday decided to anchor monetary policy through a single short term lending rate known as repo rate.

Bank loan to MFIs is priority sector lending: RBI

The Reserve Bank today said that loans extended by banks to micro-finance institutions (MFIs) from April 1 onward will be classified as priority sector lending.

Tight monetary policy necessary to tame inflation: Pranab

Monetary tightening was required to contain commodity prices, FM said.

RBI raises key policy rates by 0.50% to tame inflation

Faced with stubborn inflation, RBI raised key policy rates by 50 basis points in its annual credit policy for 2011-12 on Tuesday to arrest the rate of price rise.

RBI likely to raise policy rates by 25 bps to tame inflation

Faced with stubborn inflation, RBI is likely to raised key policy rates by at least 25 basis points in its annual credit policy for 2011-12.

EC issues letters to RBI, TMC for drafts worth Rs 1.33 crore

The Election Commission has asked
the RBI to inquire into the conduct of Allahabad Bank and United Bank of India which made drafts of Rs 1.33 crore for
TMC in poll-bound West Bengal.

RBI panel for one policy rate to tame inflation, promote growth

A Reserve Bank working group today suggested that the short-term lending rate (repo) be made the single policy rate to signal the monetary policy stance, to effectively deal with inflation without hurting growth.

Monetary Policy: RBI’s tightrope walk

RBI, in its constant effort to fight inflation, might thus push the repo rate to 6.75 percent from 6.5 percent and reverse repo rate to 5.75 percent from 5.5 percent.

95% households in NE do not have access to banking

Altogether 95 percent households in North East do not have access to banking services against the national average of 43 percent, RBI Deputy Governor Shyamala Gopinath said here on Saturday.

RBI Governor appears before PAC on 2G issue

RBI Governor D Subbarao, who was
Finance Secretary when the 2G spectrum allocations were made, Thursday appeared before Parliament`s Public Accounts Committee (PAC) and shared "accurate information" on the controversial issue.

Govt will "overcome" difficulties to tame inflation: PM

The Reserve Bank of India has been following tight
monetary policy to anchor inflationary expectations.

RBI says pulses` shortage driving food prices up

After tightening monetary policy to combat inflation, the RBI has expressed concern at rising prices of protein-based items, blaming them on shortage of pulses.

Rs10 polymer bank notes to be circulated by yr-end

Days of soiled, washed, partially torn and mutilated bank notes are numbered.

Patna HC issues notices to RBI, SBI and Centre

The Patna High Court today issued
notices to RBI, SBI and the central government to file their
respective replies on a PIL complaining "opressive and
capricious acts" of insurance companies in connivance with

Rate hike on cards as RBI reviews policy today

India`s central bank is likely to increase for a fourth time this year key policy and interest rates at its quarterly monetary policy review Tuesday to rein in high inflation, as economic growth is now on a firmer track.

Banks can open mobile branches sans RBI nod

The Reserve Bank Friday allowed commercial banks to open mobile branches without its approval in areas with less than 50,000 population.

Where have Rs 10 coins gone?

More than a year after its launch and amid Reserve Bank`s claim that it had circulated 8 crore pieces of the ten-rupee coin, one wonders where the currency is?

RBI issues fresh guidelines on credit cards

The RBI Friday warned banks and financial institutions to strictly follow its guidelines on credit cards regarding transparency in charging interest rates and levying other fees on customers or face penal action.

No overwriting on cheques after December 1: RBI

The RBI directive to banks, asking
them not to honour cheques with overwriting, will come into
effect from December 1 instead of the earlier scheduled date
of July 1, the apex bank said in its latest circular.

RBI steps in to rein inflation

RBI hiked key short term rates & CRR by 25 bps each to tame inflation, but lenders said interest rates won`t be hiked.