"The economy is going through a very difficult patch and business confidence has plummeted. New investments have slowed down," Assocham President Rajkumar Dhoot said during his interaction with RBI Governor D Subbarao ahead of the central bank's monetary policy review scheduled on April 17.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
The Supreme Court in a 4:1 majority verdict upheld the government's 2016 decision to demonetise Rs 1,000 and Rs 500 denomination notes, saying the decision-making process was not flawed.
'Prevention is better than cure' seems to be the focal point of the latest action points of the Reserve Bank of India (RBI) in the Annual Conference of Banking Ombudsman. So, the apex bank is looking at setting a template of good customer service that will prevent consumer grievance.
RBI is scheduled to announce the annual credit policy on May 3.
The value of the gold reserves increased $78.2 million to $22.764 billion
In a big win for the Narendra Modi government, the Supreme Court in a 4:1 majority verdict on Monday gave its stamp of approval to the Centre's 2016 decision to demonetise the Rs 1,000 and Rs 500 denomination currency notes, saying the decision-making process was neither flawed nor hasty.
Ahead of RBI's monetary policy review, SBI on Monday expressed hope the apex bank will cut interest rates by 0.5 per cent and CRR by up to one per cent to boost sagging growth.
The reserves had touched a life-time high of $426.028 billion in the week to April 13, 2018.
In the previous week, the reserves had fallen by $121.3 million to $360.905 billion.
The Supreme Court on Friday dismissed a plea by beleaguered businessman Vijay Mallya challenging the proceedings in a Mumbai court to declare him a fugitive economic offender and confiscate his properties. The apex court dismissed the petition for non-prosecution after the counsel representing Mallya submitted that he was not getting any instructions from the petitioner in the matter. "The counsel for petitioner states that the petitioner is not giving any instructions to the advocate for the petitioner.
The Supreme Court on Monday awarded a four-month sentence to fugitive businessman Vijay Mallya, accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, in a contempt case.
A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani. The fresh public interest litigation (PIL), filed by advocate Vishal Tiwari, has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates. Last week, another PIL was filed in the apex court seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the "artificial crashing" of Adani Group's stock value in the market.
The Reserve Bank of India raises Cash Reserve Ratio by 75 basis points at 5.75 per cent. RBI, hwoever, has kept the repo and reverse repo rates unchanged at 4.75 per cent and 3.25 per cent, respectively.
According to the Reserve Bank of India, the total flow of financial resources (rough estimates) from banks and non-banks to the commercial sector during April-December 2010 stood at Rs 9,01,000 crore (Rs 9,010 billion), up from the Rs 6,36,000 crore (Rs 6,360 billion) during the year-ago period.
The Reserve Bank on Wednesday said it will soon start issuing banknotes of Rs 1,000 denomination in non-sequential numbering.
Linking all new floating rate loans to an external benchmark won't impact existing borrowers, so customers who have taken long-term home loans recently should watch things carefully, say Joydeep Ghosh and Sanjay Kumar Singh.
The Commerce Ministry wants the Reserve Bank to reduce interest rate for dollar credit in its forthcoming monetary policy to help sustain the fledgling recovery in the exports sector.
As the rupee depreciated to a new 32-month low against the US dollar, Finance Minister Pranab Mukherjee on Wednesday said the Reserve Bank is monitoring the situation and will intervene in the forex market "as and when necessary".
The apex bank hiked its repo, reverse repo (overnight lending and borrowing rates) to 5.25 per cent and 3.75 per cent, respectively, while the cash reserve ratio, or the portion of deposits banks park with RBI, to 6 per cent in line with analysts' expectations.
Hike in CRR to suck out Rs 12,500 crore from the banking system.
Reserve Bank of India will announce the Monetary and Credit Policy for 2003-04 on April 29.\n\n\n\n
The Reserve Bank of India on Friday said it will come out with its annual monetary policy for the next fiscal on April 20, amid expectations that the central bank will hike interest rates to tame the rising inflation
Central banks in India, China and South Korea are closely monitoring the emerging inflationary pressures on their economies and hikes in interest rates could be expected across the Asia-Pacific region after Australia raised key interest rates.
The apex bank, however, may not aggressively tighten the monetary policy and is likely to resort to only a moderate 0.25 per cent hike in short-term borrowing rates and mandatory bank deposits with RBI, bankers said.
Resisting the Supreme Court's attempt to revisit the 2016 demonetisation exercise, the government said on Friday the court cannot decide a matter when no tangible relief can be granted by way of "putting the clock back" and "unscrambling a scrambled egg".
The bank was rapped for not activating a debit card of a couple 'trapped in a foreign country'
The Centre told the Supreme Court on Wednesday that almost every country, including India, was grappling with the problem of use of black money in elections and the electoral bonds scheme was a "conscious attempt" to eradicate the menace of "unclean money" in the poll process.
The coins will be circular in shape and have a diameter of 23 millimetres.
The recent hike in the rates will hurt your finances further. Time to do some stock-taking.
The RBI in its monetary policy review in October has revised the inflation forecast to 6.5 per cent by March-end from 5 per cent earlier.
The apex bank has sent a communication in this regard to Indian Banks' Association and this is expected to be implemented shortly, IBA chairman K Ramakrishnan told PTI. Since April 1, RBI had declared third party ATM usage, including cash withdrawals and account enquiries, free for all customers and said that banks can charge Rs 18-20 per month from other banks in case of third party ATM transaction.
Though there is no formal agenda for the meeting, it is generally conducted to get bankers' views on the macro economic scenario and credit and deposit growth. The apex bank also point out its concerns, if any, on specific issues.
The Reserve Bank might hike the Cash Reserve Ratio (statutory cash balances banks maintain with the apex bank) by 0.50% in its credit policy if inflation remains high, feel Indian bankers. The RBI is scheduled to announce annual credit policy for fiscal 2008-09 on April 29. RBI is likely to tighten money supply in its forthcoming annual credit policy to suck out excess liquidity from the system. Growth has moderated in recent months.
The Reserve Bank may announce cut in policy rates up to 50 basis points soon as inflation has been on way downward for past three successive weeks, bankers said.
Financial experts feel with inflation still not under control, RBI could raise rates in the future.
The Reserve Bank of India on Thursday said the Greek debt crisis would not change its roadmap to exit from the accommodative stance, as the central bank has already factored in the impact of global uncertainties in its exit-policy.
Justice Nazeer, along with then Chief Justice of India J S Khehar, was in minority in the 'triple talaq' judgement which was delivered in August 2017.
Amid reports of corporates making losses on hedging forex products other than dollar, the Reserve Bank may soon come out with guidelines on forex derivatives, which is widely expected to discourage banks from trading in foreign currencies other than in rupee-dollar. "We are working on the guidelines of forex derivatives," an RBI spokesperson told PTI.
The appeal was mentioned before a vacation Bench headed by Justice Arijit Pasayat, which fixed June nine as the date for hearing the matter. The Bench allowed senior advocate P R Andhyrujina, who mentioned the matter, to file a special leave petition against the High Court order later in the day.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances