The cell was formed after attacks on the Bangladesh central bank by international hacker groups siphoned off millions of dollars.
'For the RBI, for a central bank, reputational risk is the worst risk.' 'Credibility is the worst risk,'
'RBI is taking all steps to complete the process expeditiously so as to release firm figures at an early date.'
The prime minister's sop is expected to give a massive boost to priority-sector housing loans, thereby pulling the entire housing loan portfolio of banks.
Hopefully, the grey world of central banking in a nation hit by demonetisation, will lighten up with some of his notes soon.
'Nobody will wait now. Everyone will come to deposit their old notes. The confidence is shaken.'
There is not much bank employees can do, but some words of encouragement from the management would have helped. Stretched working hours and the tense atmosphere is taking a toll on their health.
Hawkish guidance by the US Fed raises concerns it could tie the hands of RBI from trimming rates.
RBI said the outlook for economic growth for 2016-17 has turned uncertain after the unexpected loss of momentum by 50 basis points in Q2 and the effects of the withdrawal of banned notes
The theory that all banned notes will come back into the system may not be true. Anup Roy finds out.
The huge pressure on the currency market largely went unnoticed because of the demonetisation exercise.
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
People depositing money with banks in legal tender are allowed to withdraw the equivalent amount without any restriction.
When banks deposit their money with RBI, the central bank offers government securities of equal value. But now, it could be running out of enough securities to offer banks against the overnight deposits.
'There has to be an 18-month transition.' 'But if the government had some prior knowledge that the high value notes were being used for an imminent terrorist activity in the country, then we have to accept the step.'
With about 2,000 qualified engineers to service ATMs across the country, it is an uphill task to modify 220,000 machines.
The first tranche was raised a few weeks ago and the company was looking to raise more if needed.
Will demonetisation lead to a rate cut, leading to higher quantum of lending?
A government can't just take away public money, and the RBI can't extinguish its liability. 'The RBI has to honour the value any time a person with legal and taxed money lays claim on the value.'
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances