Tag: RBI

Fitch Ratings: RBI Governor resignation highlights risks to policy priorities

Newsroom24x7 Network Hong Kong/Singapore: The resignation of the Reserve Bank of India (RBI) governor on 11 December follows a period of government pressure on the central bank to spur economic growth, and highlights risks to the RBI’s policy priorities, says Fitch Ratings. The RBI’s efforts to address bad loan problems have the potential to improve

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RBI discusses restructuring scheme for stressed MSMEs

Newsroom24x7 Network Mumbai: The Reserve Bank of India’s (RBI) Central Board met today in Mumbai and discussed the Basel regulatory capital framework, a restructuring scheme for stressed MSMEs, bank health under Prompt Corrective Action (PCA) framework and the Economic Capital Framework (ECF) of RBI. The Board decided to constitute an expert committee to examine the

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Gurumurthy nominated to RBI Central Board

Newsroom24x7 Network Mumbai: The Central Government has nominated Swaminathan Gurumurthy and Satish Kashinath Marathe as directors of the Central Board of the Reserve Bank of India for a period of four years with effect from August 7, 2018 or until further orders.’ These nominations have been done under the powers conferred by clause (c) of

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Inflation clouds force RBI to increase repo rate

Newsroom24x7 Network Mumbai: Four years down the line, after Narendra Modi assumed office as Prime Minister, with inflation clouds looming over Indian economy, the Reserve Bank of India has increased the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.5 per cent. The decision to hike the rate, after four

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RBI clarifies on quality control measures in currency note printing

Newsroom24x7 Staff Mumbai: Close on the heels of the arrest of two brothers in possession of fake currency worth Rs. 48,000 in Rs. 2000 denomination earlier on Wednesday night ( 9 August) by the Mathura Police police, the Reserve Bank of India today issued a statement to assert that the process and system followed for

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Farm loan waivers by States may result in fiscal slippages and undermine the quality of public spending: RBI

Newsroom24x7 Staff RBI cuts key rate by 0.25%; to lower home, auto EMIs Growth impulses in industry and services are weakening Implementation of farm loan waivers by States may result in possible fiscal slippages and undermine the quality of public spending, entailing inflationary spillovers. Moreover, the timing of the States’ implementation of the salary and

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And now Demonetisation: Modiji, Please don’t let the bankers down

Newsroom24x7 Desk New Delhi: After the Modi Government’s hard hitting decision to discontinue the use of ₹500 and ₹1000 notes to address the issue of black money, a letter written on behalf of the bankers to Prime Minister Narendra Modi has gone viral on social media. We reproduce the letter: Dear Modi ji we The

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PMI shows contraction in Indian manufacturing activity, first time since 2 years

Newsroom24x7 Desk New Delhi : Nikkei’s Manufacturing Purchasing Managers’ Index, compiled by Markit, fell to a 28-month low of 49.1 in December from the earlier value of 50.3 as at November. Interpreted in analysis, it indicates that Indian manufacturing activity contracted in December for the first time in more than two years. The reasons outlined

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WPI and Food prices still do not converge albeit WPI’s decline in Nov

Newsroom24x7 Desk New Delhi :  Wholesale prices fell again in Nov, but food prices and indices do not appear to be moving in the same direction yet. India’s wholesale prices fell for a 13th straight month in November, but contrary to a unidirectional convergence, the country is registering a sharp pickup in food prices. Adding

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RBI keeps repo rates unchanged

Newsroom24x7 Desk Mumbai : The Reserve Bank of India (RBI) kept its key repo lending rate unchanged at 6.75 percent. This announcement came in expected lines as statistics suggested repo rate to stay static on hold after consumer inflation picked up to a four-month high. Adding to this, the global scenario too is gearing up

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Masala Bonds Offer India Firms Funding Diversification

Newsroom24x7 Desk Mumbai/Singapore: The opening of a ‘Masala’ bond market, where Indian firms issue bonds offshore in rupee, will provide an opportunity for some larger issuers to diversify funding sources without taking on currency risks, says Fitch Ratings. The ability to diversify funding, according to Fitch, would be credit positive, but in the early stages of

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RBI imposes Monetary Penalty on Krishna Mercantile Co-operative Bank

Newsroom24x7 Desk Mumbai: The Reserve Bank of India has imposed a monetary penalty of  Rs. 5 lakh on the Krishna Mercantile Co-operative Bank Ltd. of Bhopal. RBI has imposed the fine on Krishna Mercantile Co-operative Bank under powers vested in it under the provisions of Section 47A (1)(b) read with section 46(4) of Banking Regulation Act, 1949 (As Applicable to

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RBI seeks inputs on converting a UCB into a commercial bank

Newsroom24x7 Desk Mumbai: The High Powered Committee on Urban Co-operative Banks (UCBs) has recommended that the business size of Rs 20,000 crore may be the threshold limit beyond which a Urban Cooperative Bank (UCB) is expected to convert itself into a commercial bank. The conversion will not be de jure compulsory. However, the types of

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