'In plain simple English, these practices amount to a looting of our country's future by some in the business community, in cahoots with some lenders,' says RBI Governor Dr Urjit R Patel.
As many as 80-85 per cent Paytm wallet users will not face any disruption because of regulatory actions, and the remaining users have been advised to link their apps to other banks, RBI Governor Shaktikanta Das said on Wednesday. The Reserve Bank of India on January 31 barred Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in any customer accounts.
.jpg)
The NPAs of banks stood at over Rs 3 lakh crore as on December 2014.
The ratings agency currently rates India at Baa3
Dr Raghuram Rajan's departure holds lessons for all, be it sections of the media, politicians or the people themselves. We need to learn how to value and retain talent. At the same time the talented must realise that talent alone does not ensure the top job, says Sanjeev Nayyar.
Reserve Bank of India regional director J Sadakkadulla on Thursday said that a high-level committee headed by RBI Deputy Governor Usha Thorat had recommended installing of note sorting machines (NSMs) in all bank branches in a phased manner and has asked the banks to give a road map to the RBI to achieve this task.
He will look after the Department of Banking Operations and the Development and Urban Banks Department, which were held by Usha Thorat who retired in November last year.
Reserve Bank of India Governor Raghuram Rajan, who will present his maiden policy on September 20, held discussions on Tuesday with Prime Minister Manmohan Singh and Finance Minister P Chidambaram on the macro-economic situation.
The Reserve Bank has reduced interest rate by 150 bps since January 2015.
The Delhi Commission for Women has issued a notice to Indian Bank seeking withdrawal of its new recruitment guidelines which prevents a woman, who is three or more months pregnant, from joining service.
Garg had refused to sign on the report finalised by the former Reserve Bank of India governor Bimal Jalan-led committee reviewing the central bank's economic capital framework (ECF).
The Winter Session of Parliament is likely to witness a united opposition piling up pressure on the government on a plethora of issues like the exit of the RBI Governor, rumblings in the CBI and Rafale deal, while parties like Shiv Sena are set to make a renewed pitch for Ram temple in Ayodhya.
The Winter Session of Parliament is likely to witness a united opposition piling up pressure on the government on a plethora of issues like the exit of the RBI Governor, rumblings in the CBI and Rafale deal, while parties like Shiv Sena are set to make a renewed pitch for Ram temple in Ayodhya.
The Winter Session of Parliament is likely to witness a united opposition piling up pressure on the government on a plethora of issues like the exit of the RBI Governor, rumblings in the CBI and Rafale deal, while parties like Shiv Sena are set to make a renewed pitch for Ram temple in Ayodhya.
The Reserve Bank of India's (RBI's) job to bring down inflation is not over, and any premature move on the policy front could undermine the success achieved so far on the price situation, according to RBI Governor Shaktikanta Das. RBI's rate setting panel, Monetary Policy Committee (MPC), had met for three days from February 6-8. The panel decided to leave the key policy rate unchanged at 6.5 per cent for the sixth time in row.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
Reserve Bank of India (RBI) Executive Director Anand Sinha is set to replace Usha Thorat as deputy governor. Finance Minister Pranab Mukherjee has recommended Sinha's candidature to the Appointments Committee of the Cabinet (ACC).
IT and interest rate-sensitive bank, realty, and auto stocks ended with sharp gains.
Punjab National Bank Chairman and Managing Director K C Chakraborty has emerged as the frontrunner for the post of the fourth deputy governor of the Reserve Bank of India (RBI).
Financial inclusion has two parameters- access and use of banking services.
Financial inclusion has two aspects- access and use of banking services.
The central bank has also left the Bank Rate and the Cash Reserve Ratio unchanged at 6 per cent and 5 per cent, respectively, in the annual policy announcement 2007 released on Tuesday.
If numbers change, there will be scope for more rate cuts.
In order to further enhance customer convenience, and to leverage the 24x7 availability of real-time gross settlement (RTGS), NACH which is currently available on bank working days, is proposed to be made available on all days of the week effective from August 1, 2021, RBI's Shaktikanta Das said.
The current account deficit, which is the difference between inflow and outflow of foreign exchange, rose to a record high of 4.8 per cent of GDP in 2012-13, from 2.8 per cent in 2010-11.
Sebi's mandate restraining mutual funds, stock brokers, and other intermediaries from associating with finfluencers who do not come under the Sebi ambit will impact the earnings of finfluencers through sponsorships, tie-ups, or referral links, as these may dry up due to the restrictions.
RBI governor highlights the role of fate in his career at a meeting of the IIM-A alumni.
'The committee has been constituted. Different government departments and FSDC members are part of it.'
As the central bank continues to increase forex reserves by running down the forward book which totalled $42 billion as of end-July, signalling its strong resolve to build a bigger reserve cushion to aid its expansionary, unorthodox monetary policy, the reserves are set to top the $655-billion-mark by March, according to a report. The forex kitty declined by $2.10 billion to $619.36 billion for the week to August 13 due to a fall in the core currency assets and gold, showed the latest RBI data. The reserves had risen to a lifetime high of $621.46 billion in the previous reporting week ending August 6.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
Manufacturing activities in India fell to a five-month low in September as new orders rose at a softer pace, which tempered production growth, a monthly survey said on Tuesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell to 57.5 in September, down from 58.6 in August -- the lowest in five months. The September PMI data pointed to an improvement in overall operating conditions for the 27th straight month.
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI. "The supervisory reviews undertaken by the Reserve Bank and the feedback and references from members of public have revealed several instances of unreasonable elongation of tenor of floating rate loans by lenders without proper consent and communication to the borrowers," he said.
Monetary transmission has been an issue for the Indian banking sector.
He will be the eighth Deputy Governor to be made Governor at RBI
The Reserve Bank of India on Friday decided to keep the policy rate unchanged for fourth time in a row as it maintains a tight vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022. Announcing the bi-monthly monetary policy on Friday, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) unanimously decided to keep the repo rate unchanged at 6.5 per cent.
With RBI governor Duvvuri Subbarao retiring in September, 2013, the government is on the look out for the most eligible person to head the Reserve Bank of India.
Reserve Bank of India Governor D Subbarao has said India, being a current account-deficit country, is more vulnerable to sudden reversals in capital flows and short-term overseas portfolio money than nations which have a current account surplus.
Dr T V Somanathan is the first finance secretary to be appointed Cabinet secretary since 1985. His appointment at this juncture seems to carry much meaning for the forthcoming trajectory of reforms and restructuring of India's steel frame.
While the common citizen will benefit from the central bank's action, the policy stance is consistent with sustaining high growth in the medium term.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances