Page 9 - Reserve Bank Of India Rbi

Forex reserves soar to lifetime high of $490 billion, shows RBI data

In the previous week, the reserves had increased by $1.726 billion to $487.04 billion.

RBI fines Citibank Rs 4 cr for flouting rules, co-op banks penalised too

Move follows fines imposed yesterday on Bank of India (Rs 5 crore), Karnataka Bank (Rs 1.2 cr) and Saraswat Co-operative Bank (Rs 30 lakh)

RBI issues cash management bills worth Rs 80,000 cr after good response

The RBI received bids of Rs 3.45 trillion, or more than four times the amount on offer.

RBI imposes penalties on three banks for non-compliance of norms

Bank of India suffers Rs 5 cr fine, Karnataka, Saraswat hit with Rs 1.2 cr and Rs 30 lakh penalty

Govt to discontinue 7.75% taxable savings bonds scheme from May 28

The bonds were issued in January 2018 for residents and Hindu Undivided Family (or HUF) members, and became instantly popular.

High risk aversion of most lenders is astounding, says Bajaj Finserv CMD

Instead of extending the moratorium by another three months, it would have been better to allow lenders to offer a one-time restructuring only to those who need it, says Sanjiv Bajaj

UCO Bank slashes lending rate by 40 basis points, MSME loans to get cheaper

The government expects banks to reduce lending rates, which is required to kick start the economy hit hard by the coronavirus-forced lockdown, among other factors

India may need to pump Rs 1.5 trn into coronavirus-hit state banks: Report

"The situation is very grim," the source said, adding that banks would require fresh funds soon

PharmEasy, Amazon India tie up to enable digital payments using Amazon Pay

PharmEasy said it is encouraging digital and contactless payments that are not only convenient for its users, but also a must for their safety.

FSDC meet on Thursday to discuss impact of coronavirus on economy

This will be the first meeting of the FSDC, which comprises RBI Governor and other financial sector regulators, after the outbreak of the coronavirus.

Revised inter-creditor pacts may do away with need for 66% lenders' nod

Banks will be able to customise ICAs in accordance with their needs even as more financial stakeholders are on-boarded, including those with foreign currency exposures

ATMs to become virtual bank branches, accept deposits with instant credit

Close to 14.6 per cent (or 35,000) of the 240,000 ATMs in India are new-age recyclers, even though they have been around for only 3 years on the local landscape.

Liquidity, labour and logistics are the key challenges: JSW Steel's Rao

Ensuring return of labour as important as sending them back home, says Seshagiri Rao

Slowdown blues: RBI rate cuts not effective anymore, say analysts

Analysts want RBI to look at 'unconventional' monetary policy measures for a revival nudge

We are sitting on some cash to take advantage of volatility: J Jaipuria

We are currently seeing a triple shock - medical shock and consequent supply shock and demand shock. Finding a medical solution to Covid-19 is going to determine the shape of the markets

RBI should 'bluntly' tell govt to take fiscal measures: P Chidambaram

He also asked if the prime minister or the finance minister will laud themselves for the fiscal stimulus after the RBI chief's statement

RBI forecasts economic contraction, announces a sharp 40-bp rate cut

The six-member MPC also kept policy stance unchanged at 'accommodative' for "as long as necessary" to revive growth

Last rate cut for now but there're more bullets in RBI's chamber

Following this, the reverse repo rate, or the rate at which the banks perk extra liquidity with the RBI, was reduced to 3.35 per cent from 3.75 per cent - both at their historic lows.

RBI monetary policy review: Walking the extra mile

Since March 27, the RBI has acted proactively and ahead of time to contain the fallout of the Covid-19 pandemic.

'Polarised' and 'sell on rally' may define markets' character, say experts

With GDP growth seen shrinking, funds likely to chase stocks with high growth forecast