If there is any proposal on bad banks, the Reserve Bank of India (RBI) will examine the proposal, RBI governor Shaktikanta Das during 39th Palkhiwala Memorial lecture on Saturday.
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A delay in Covid-19 vaccine distribution could impact GDP growth prospects in the next fiscal year and the Reserve Bank may cut policy rates by 50 basis points by June as inflation cools down, a foreign brokerage said on Wednesday.
There is a disconnect between booming markets and economic activity, Reserve Bank governor Shaktikanta Das said on Monday, warning that the stretched valuations of financial assets pose a risk to financial stability.
The government had no outstanding loans with the central bank under ways and means advances in the week ended January 1, according to the Reserve Bank of India’s weekly statistical supplement released on Friday.
After touching a record high, the country’s foreign exchange reserves declined by $290 million to $580.841 billion in the week ended December 25, Reserve Bank of India (RBI) data showed. In the previous week to December 18, the reserves had surged by $2.563 billion to a lifetime high of $581.131 billion.
The Centre is likely to look at the option of the Reserve Bank of India (RBI) monetising the deficit in the second half of the financial year, a senior government official has said, asserting that the Centre is seriously examining the issue.
Since the national lockdown was announced in late March, a team of more than 200 personnel from the Reserve Bank of India and services providers are holed up in four locations to ensure that the financial markets across the country work uninterrupted. A team of officers and technical experts was moved into a hotel in … Continue reading How RBI crack teams in isolation keeping financial system working
Restructuring of loans may happen only after the lockdown ends as it is only then that banks will get an idea of the cash flows of various borrowers. Meanwhile, the Reserve Bank of India (RBI) granted a host of regulatory relaxations to banks to help them tide over the crisis.
Bank deposits have risen by over Rs 2.8 lakh crore in three fortnights of the lockdown till May 8, while bank credit during the period dipped by Rs 1.2 lakh crore, according to data released by the Reserve Bank of India. This has added nearly Rs 4 lakh crore to the liquidity in the banking … Continue reading Deposits rise over Rs 2.8L cr in 6 weeks of lockdown
Painting a gloomy picture of the economy, the Reserve Bank of India (RBI) on Friday said the impact of COVID-19 is more severe than anticipated and the GDP (gross domestic product) growth during 2020-21 is likely to remain in the negative territory.
From asking banks to put in place contingency measures to unscheduled policy review meetings to deep rate cuts, the Reserve Bank of India (RBI) has taken unprecedented measures to deal with the fallout of the coronavirus pandemic after the first case was reported in the country on January 30.
The government’s frugal economic stimulus package has put pressure on the Reserve Bank of India (RBI) to intervene, as analysts and economists say measures announced so far are unlikely to have any meaningful impact soon.
Former governor of Reserve Bank of India (RBI) Raghuram Rajan on Wednesday in a video chat with Congress leader Rahul Gandhi said that India needs Rs 65,000 crore to help the poor during the coronavirus-led crisis. He further added that the focus of the government should be first on starting people’s lives once it decides … Continue reading Rahul-Raghuram Rajan interaction: Key points
Outstanding loans amounting to Rs 68,607 crore of top 50 wilful bank loan defaulters in the country including firms of Mehul Choksi and Vijay Mallya have been technically written off till September 30, 2019, the Reserve Bank of India said in a RTI reply.
In a big relief for mutual fund investors, the Reserve Bank of India (RBI) on Monday announced a special liquidity facility (SLF-MF) of Rs 50,000 crore with a view to ease liquidity pressures on mutual funds (MFs) which have cropped up as a result of heightened volatility in capital markets due to the Covid-19 pandemic.
Equity indices finished in green on Monday with the benchmark BSE sensex rising over 400 points led by gains in banking and financial stocks, after the Reserve Bank of India (RBI) launched a special liquidity facility for mutual funds to ease the pressure due to the coronovirus pandemic. The 30-share BSE index finished 416 points … Continue reading Sensex rises 416 points to close at 31,743
ndia’s forex reserves rose by $3 billion during the week ended April 17 to $479.6 billion. Half the increase was because the value of gold held by the Reserve Bank of India (RBI) appreciated in dollar terms, while the other half came from an increase in the value of foreign currency assets, which rose to … Continue reading Forex kitty grows to $480bn on rising dollar, gold
Sri Lanka is set to enter into an agreement with the Reserve Bank of India for a currency swap worth $400 million to boost the foreign reserves and ensure the financial stability of the country which is badly hit by the COVID-19 pandemic, a top minister has said. Cabinet approved the proposal, enabling RBI to … Continue reading Sri Lanka to seek $400m financial facility from RBI
Relaxing norms, the Reserve Bank of India on Thursday permitted banks to issue electronic cards to persons having overdraft accounts that are only in the nature of personal loan without any specific end-use restrictions.
Investor wealth on Friday rose by Rs 2,83,740.31 crore as markets soared over 986 points after a second batch of stimulus measures by the Reserve Bank of India (RBI). The 30-share BSE sensex ended 986.11 points or 3.22 per cent higher at 31,588.72.
The country’s foreign exchange reserves declined by $902 million to $474.66 billion in the week to April 3 due to a fall in foreign currency assets, according to the latest data from the Reserve Bank of India (RBI). The reserves had touched a life-time high of $487.23 billion in the week to March 6, after … Continue reading Forex reserves decline $902 mn to $474.66 bn
The Insurance Regulatory and Development Authority of India (Irdai) on Wednesday permitted insurance companies to grant a moratorium of three months on payment of term loans in line with the Reserve Bank’s directions. In a circular, Irdai said it has received representations from industry associations, seeking moratorium on repayment of term loans sanctioned by the … Continue reading Irdai permits insurers to grant moratorium on term loans
The government and central bank are trying to cushion an economy that was slowing even before the coronavirus outbreak.A series of steps announced this year aim to encourage banks to lend. Measures announced by the Reserve Bank of India (RBI) since early February inject cash equivalent to 3.2% of the country’s gross domestic output.
Most of the private sector lenders have decided to go for the “opt-in” option on loan repayment moratorium, putting the onus on the customer to take the initiative of informing the bank of their choice to go for the three-month breather offered by the Reserve Bank of India (RBI).
In a relief to customers, some public sector banks on Tuesday announced deferment of EMI (equated monthly instalment) payments on loans for three months following directions by the Reserve Bank of India (RBI) which asked all lending institutions to allow three month moratorium on loan payments as the economy grapples with Covid-19 challenges.
With just two days left for the next EMI cycle to begin, most big lenders are unprepared to follow the Reserve Bank of India’s blanket order allowing borrowers to hold back from paying instalments for the month. Top lenders such as State Bank of India, HDFC Bank, ICICI Bank, Kotak Bank and Axis Bank have … Continue reading Banks yet to act on EMI relief, spark confusion
Hours after the Reserve Bank of India reduced the repo rate by 75 basis points, the country’s largest lender State Bank of India on Friday said it would pass on the entire cut to its customers, effective April 1.
Amid stress in the financial system due to COVID-19, the Reserve Bank of India (RBI) on Friday announced measures to inject Rs 3.74 lakh crore into the banking system through a slew of instruments, including the reduction in cash reserve ratio. The other liquidity support measures included targeted long-term repo operation (TLTRO) and increasing the … Continue reading RBI announces steps to infuse Rs 1.37L cr liquidity
Allaying depositors’ concerns, Reserve Bank of India (RBI) governor Shaktikanta Das on Friday asserted that the Indian banking system is safe, and termed linking banks’ share prices to safety of deposits as “fallacious” thinking.
To fight the economic downturn amidst coronavirus pandemic, India is likely to introduce an economic stimulus package of more than Rs 1.5 lakh crore ($19.6 billion), said two sources familiar with the matter. The government has not yet finalised the package and discussions are ongoing between PM Modi’s office, the finance ministry, and Reserve Bank … Continue reading Govt likely to unveil $20 billion-plus stimulus package to tackle coronavirus downturn: Report