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What caused RBI to shift from convention on rate cut

RBI Governor Shaktikanta Das, according to the minutes of the meeting released on Wednesday, said that "the economy needs a larger push" and a reduction in the policy repo rate by conventional 25 bps will be inadequate.

Aug 22, 2019, 11:12 AM IST

Amid slowdown, RBI Governor hints at softer approach on rates

In his inaugural address at the Indian Banks' Association annual flagship conference, FIBAC 2019, here, the Reserve Bank of India (RBI) Governor also said the real test for public sector banks (PSBs) is their ability to tap the capital market to raise funds.

Aug 19, 2019, 16:03 PM IST

RBI directs banks not to count failed swipes, balance enquiry as free ATM transactions

No charges will be levied on failed transactions, the RBI said.


Aug 15, 2019, 13:24 PM IST

Jalan panel readies report on RBI surplus transfer to government

The transfer of the Reserve Bank of India`s (RBI) surplus to the government would be done in a phased manner as is the practice, sources said.

Aug 14, 2019, 17:31 PM IST

RBI releases guidelines for lending by banks to NBFCs for On-Lending

RBI said, Bank credit to NBFCs for On-Lending will be allowed upto a limit of five percent of individual bank’s total priority sector lending on an ongoing basis.

Aug 14, 2019, 10:49 AM IST

At no point do we want to make it difficult for industry: Sitharaman

The Minister mentioned the possibility of reviewing some of the milestones in relation to infrastructure. In particular, projects with a bearing on the core sectors and job creation may be brought forward.

Aug 09, 2019, 18:02 PM IST

State Bank of India cuts home loan interest rates across all tenors

SBI said that marginal cost of fund based lending rate (MCLR) will be reduced by 15 basis points across all tenors and the revised rates will be effective from August 10.

Aug 07, 2019, 14:46 PM IST

RBI revises GDP growth forecast for 2019-20 to 6.9% from 7.0%

In the MPC’s June resolution, real GDP growth for 2019-20 was projected at 7.0 percent – in the range of 6.4-6.7 percent for H1:2019-20 and 7.2-7.5 percent for H2 – with risks evenly balanced.

Aug 07, 2019, 12:16 PM IST

RBI cuts repo rate by 35 basis points in third bi-monthly monetary policy

The move is expected to lead to reduction of lending rate by banks leading to lower EMI for housing, car loan and corporate borrowers. This is RBI's second monetary policy after Modi 2.0 took charge in May.

Aug 07, 2019, 11:49 AM IST

Former RBI Deputy Governor Subir Vithal Gokarn dead

A noted economist, Gokarn joined the IMF Executive Board as ED (India) in December 2015 and was to complete his term in October this year.

Jul 31, 2019, 17:00 PM IST

RBI committee recommends revision of loan limit for MSMEs, SHGs

The Committee has also recommended revision of loan limit sanctioned under MUDRA to Rs 20 lakh from Rs 10 lakh, he added.

Jul 26, 2019, 12:46 PM IST

RBI's change in stance as good as additional 25 bps rate cut: Shaktikanta Das

While the RBI has cut rates 75 bps since the start of 2019, banks have only eased their key rate by 15-20 bps.

Jul 22, 2019, 10:21 AM IST

RBI Governor meets CEOs of Public Sector Banks, discusses plan of action, challenges in sector

During the meeting, the RBI Governor acknowledged discernible improvements in the banking sector while underscoring that several challenges still remain to be addressed, particularly with regard to the stressed asset resolution and credit flows to needy sectors. 

Jul 19, 2019, 23:26 PM IST

Bimal Jalan panel suggests fund transfer in tranches over 3-5 years

Since it is not an unanimous report, the final report - to be submitted to the RBI in 10 days - may record dissents to the recommendations made by the panel. The report has already been long delayed.

Jul 17, 2019, 17:19 PM IST

Banks in big loss or under PCA to be barred from buying NBFC assets

In the Budget 2019-20, the Centre has allowed a one-time, partial credit guarantee of six months to public sector banks (PSBs) on their first loss of up to 10 per cent for purchase of high-rated pooled NBFC assets of Rs 1 lakh crore.

Jul 12, 2019, 13:12 PM IST

RBI IWG recommends extension of OTC forex, exchange traded currency derivatives market hours

An internal working group was set up last year to study the current timings of various financial markets regulated by the Reserve Bank, including instruments traded on exchanges.

Jul 11, 2019, 11:30 AM IST

RBI to regulate housing finance firms, review assets

The housing finance companies, which are part of the broader shadow banking sector known as non-banking finance companies (NBFCs), are currently regulated by the National Housing Board, and the central bank has no direct authority over them.

Jul 03, 2019, 17:52 PM IST

NS Vishwanathan re-appointed RBI Deputy Governor

Vishwanathan is one of the three Deputy Governors, besides B.P. Kanungo and M.K. Jain, at the central bank.

Jul 01, 2019, 17:56 PM IST

RBI asks banks, people to accept coins of all denominations

Presently, coins of 50 paise, Re 1, Rs 2, Rs 5 and Rs 10 denomination of various sizes, theme and design are in circulation.

Jun 28, 2019, 11:15 AM IST

Reserve Bank of India releases 19th issue of Financial Stability Report

The Central Bank said that India’s financial system remains stable in the backdrop of improving resilience of the banking sector, even though the emerging trends in global economic as also geopolitical environment pose challenges.

Jun 28, 2019, 11:13 AM IST