Reserve Bank of India

RBI pegs GDP growth for 2020-21 at 6 per cent, keeps repo rate unchanged at 5.15%

The Reserve Bank of India (RBI) kept the repo rate unchanged at 5.15% maintaining an accommodative stance as it announced its Monetary Policy Statement on Thursday. The announcement was made the six-member monetary policy committee of the Reserve Bank of India (RBI). The RBI committee also released its sixth bi-monthly Monetary Policy Statement for 2019-20 on its website.

Feb 06, 2020, 12:02 PM IST

RBI to announce its monetary policy today; rate cuts unlikely

It will release its sixth bi-monthly Monetary Policy Statement for 2019-20. The resolution of the MPC will be placed on the website at 11.45 AM on February 6, 2020.

Feb 06, 2020, 08:42 AM IST

Budget 2020: RBI Governor stresses on the need for more structural reforms to revive growth

Reserve Bank Governor Shaktikanta Das also listed out some of the priority areas where structural reforms are necessary and if carried out in earnest can act as potential growth drivers and through backward and forward linkages can give significant push to growth.

 

Jan 24, 2020, 19:55 PM IST

Now, you can enable/disable your bank credit/debit cards - know more

RBI has mandated that issuers provide alerts/information/status, etc., through SMS / e-mail, as and when there is any change in the status of the card.

Jan 16, 2020, 14:04 PM IST

RBI launches Mobile Aided Note Identifier App to help visually challenged persons

Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday (January 1, 2020) launched a mobile application MANI (Mobile Aided Note Identifier) to aid visually challenged persons in identifying denomination of currency notes. The app can be freely downloaded from Android Play Store and iOS App Store.

Jan 01, 2020, 16:53 PM IST

RBI's draft norms on prudential exposure limits for cooperative banks issued

The Reserve Bank of India (RBI) on Monday (December 30) released a draft circular on limits on exposure to single and group borrowers/parties, large exposures and revision in priority sector lending targets for primary (urban) co-operative banks (UCBs) for feedback and suggestions. 

Dec 30, 2019, 21:05 PM IST

India's financial system stable despite weakening domestic growth: RBI

The RBI on Friday released the Financial Stability Report (FSR), which states that the financial system of the country is stable. 

Dec 27, 2019, 19:37 PM IST

NEFT transfer available 24x7 from today; Check other details

The RBI's latest move will facilitate digital transactions in India and the bank customers will now be able to transfer their amounts higher than IMPS via NEFT on any day any time. 

Dec 16, 2019, 16:33 PM IST

India's retail inflation accelerates to 5.54% in November from 4.62% in Oct

Vegetable inflation for November stood at 36 percent against 26 percent in October. Pulses and products recorded inflation of 13.94 percent in November against 11.72 percent in October.

Dec 12, 2019, 18:11 PM IST

RBI to begin bankruptcy proceedings against shadow lender DHFL

India`s central bank said on Wednesday it would initiate bankruptcy proceedings against Dewan Housing Finance Ltd (DHFL), as it seeks to address governance concerns and defaults at what was once one of the country`s biggest shadow lenders.

Nov 20, 2019, 21:22 PM IST

RBI supersedes board of cash-strapped DHFL, to start insolvency proceedings soon

The RBI released a statement saying that it decided to supersede DHFL Board of Directors due to concerns over governance and the debt-laden firm's failure to pay existing debts.

Nov 20, 2019, 19:50 PM IST

RBI asks banks not to levy NEFT charges on Savings Bank Accounts from Jan 2020

To encourage the usage of digital transactions in India, the Reserve Bank of India (RBI) on Friday issued various proposals, and directed the banks "not to charge savings bank account customers for online transactions in the NEFT system with effect from January 2020".

Nov 08, 2019, 19:09 PM IST

RBI issue guidelines on compensation for Private Bank CEOs, Whole-time Directors, Material Risk Takers

Reserve Bank of India (RBI) has issued guidelines on Compensation for Whole Time Directors/ Chief Executive Officers/ Material Risk Takers and Control Function staff. The guideline will be applicable on all private sector banks, including local Area Banks, Small Finance Banks, Payments Banks, and Foreign Banks operating in India.

Nov 05, 2019, 12:34 PM IST

Don't have any view on fiscal health of any bank: Odisha government issues clarification after RBI expresses concern

Reserve Bank of India had reportedly expressed concern over Odisha government cautioning its departments against placing deposits with banks.

Oct 26, 2019, 11:33 AM IST

Attention! Update KYC before January 1 otherwise banks may freeze your account

Failure to comply with the order may allow the banks to freeze those accounts for which KYC details have not been updated.

Oct 10, 2019, 12:15 PM IST

RBI cuts repo rate by 25 basis points, revises GDP growth downwards to 6.1% in 2019-20

The Reserve Bank of India (RBI) on Friday cut repo rate by 25 basis points, from 5.40% to 5.15% in yet another move to boost the national economy. 

Oct 04, 2019, 12:00 PM IST

RBI credit policy: Central bank may announce further rate cut to boost economy

According to experts, the central bank is likely to announce the rate cut to complement the government's measures like reducing corporate tax and promoting credit offtake to boost economic activity during the festive season amid a slowdown.

Oct 04, 2019, 07:51 AM IST

PMC Bank account holder can withdraw Rs 25,000 in six months as RBI enhances limit

RBI Chief General Manager Yogesh Dayal in a press release stated that the decision has been taken after reviewing PMC Bank's liquidity position and in order to reduce the hardships faced by the depositors.

Oct 03, 2019, 20:58 PM IST

Indian banking system safe and stable, no need to panic: RBI

The Reserve Bank of India (RBI) has assured the general public that the Indian banking system is safe and stable and there is no need for panic based on rumours. 

Oct 02, 2019, 07:42 AM IST

RBI debunks social media rumours about closure of 9 public sector banks

Finance Secretary Rajeev Kumar also rejected the reports and said that the rumours about RBI deciding to close some banks are "mischievous" and that there is "no question of closing any public sector bank".

Sep 25, 2019, 16:56 PM IST