State Bank of India does not levy any charge for non-maintenance of a minimum balance in basic savings account.
RBI has kept interest rate unchanged at 8 per cent since January
Uber had run into trouble with the RBI over the two-payment process
The partially convertible rupee ended at 62.2825/2925 per dollar.
The RBI, which has been keeping rates at an elevated level citing high inflation, wants it to come down to 6 per cent by January 2016.
In the mid-quarter monetary policy review last month, RBI Governor Raghuram Rajan had left the key policy rate unchanged, after raising it 50 bps in two instalments since he took over on September 4, saying he was waiting for more data clarity.
The government is likely to present a "run-of-the-mill" budget with an fiscal slippage to 3.7 per cent of the GDP in the next fiscal from an earlier target of 3.5 per cent, a Nomura report says.
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On the Congress accusing BJP of hypocrisy for its failure to disclose names, Jaitley said the Congress got it all wrong because media "completely misreported" the case.
To check rising current account deficit, the government has raised import duties and the Reserve Bank of India had imposed curbs on import of the yellow metal and also laid down various pre-conditions for inward shipments of the precious metal.
Subramanian, a senior fellow at the Peterson Institute for International Economics in Washington, attended a news conference in New Delhi at which his appointment was announced.
In its mid-quarter review of monetary policy, RBI on Wednesday kept all key interest rates unchanged notwithstanding persistent high inflationary pressure.
Global rating agency Moody's said India's economic growth remains weak and there is little chance of recovery next year.
Polling for the 288-seat Assembly is being held in a single-phase on Wednesday.
The government plans to inject a total Rs 70,000 crore into the lenders over four years
In an interaction with former Congress chief Rahul Gandhi on the impact of lockdown on India's economy, Rajiv Bajaj, MD, Bajaj Auto, said India tried to implement a hard lockdown which was still porous and ended up with the worst of both worlds.
RBI Governor Raghuram Rajan has been pursuing hawkish monetary policy stance to keep inflation under check.
Raghuram Rajan has described the fall in reserves as dip in valuation with appreciation of dollar against other currencies
RBI Governor Raghuram Rajan has said falling oil prices act as a cushion for CAD, adding it is time India does away with restrictions on gold imports
A 13-member group, headed by RBI Executive Director R Gandhi, has made various recommendations on G-Sec market, retail participation and interest rate derivatives market.
Due to lower output from mines, utilities and factories, the July factory output data came down to 0.5 per cent year-on-year, the government data showed on Friday, down from June's revised 3.9 per cent rise.
Mallya, whose Kingfisher Airlines owes money to several banks, had on Thursday said he will challenge UBI's decision to declare him a willful defaulter.
The rupee rose by 4 paise at 66.88 against the US dollar in early trade on Wednesday.
In October, CPI inflation was 5 per cent.
The RBI governor says, Mahatma Gandhi is the only dignitary which can be featured on rupee notes.
Reserve Bank of India (RBI) Governor Raghuram Rajan on Tuesday cautioned against extrapolating the issue of alleged graft charges in a public-sector bank to the entire public sector banking system.
Admitting that there are governance issues in the public sector banks, RBI Governor Raghuram Rajan underlined the need for improving transparency in sanction of loans.
Of the 52 economists polled, 50 expect the policy repo rate to remain at 7.25 per cent, and 47 of 48 respondents see the cash reserve ratio, or the portion of deposits banks have to maintain with the central bank, unchanged at 4 per cent.
Reserve Bank is scheduled to announce its bi-monthly monetary policy on August 3.
Lauding the pro-reforms approach adopted by Reserve Bank of India Governor Raghuram Rajan, industry body Confederation of Indian Industry on Thursday expressed the hope that the central bank would shift towards an expansionary monetary policy by cutting interest rates to stimulate growth.
CPI inflation has declined by almost a percentage point from July, from close to eight per cent to just above seven per cent.
Green signal from Jaitley; CVC okays Hemant Contractor for head of PFRDA
The RBI's bi-monthly policy review on June 3 will be the first after Prime Minister Narendra Modi assumed office on May 26.
The Reserve Bank on Thursday said it has put in place contingency plans to infuse liquidity into the system to deal with any possible volatility in markets on Friday in view of the election results.
According to him, since India has a low fiscal deficit, a low current account deficit and lower inflation, there is no need for being too dependent on foreign money for growth.
Pawar asked Modi why he was daring Opposition leaders to bring back Article 370 of the Constitution after it was nullified by Parliament in August.
Arun Jaitley on Sunday said monetary policy plays an important role in stimulating growth.
The RBI in November released a framework for large foreign banks with more than 20 branches to convert into wholly owned subsidiaries.
The Reserve Bank of India has already reduced the policy rate by a total of 75 basis points, or 0.75 per cent, since January.
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The year-end should not be a time for any spectacular changes in the banking system and must pass smoothly, Rajan told reporters after announcing the bi-monthly monetary policy, which left key policy rates unchanged.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
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