Page 28 - Rbi

SC grants 4 more weeks to CBI to file reply on Subramanian Swamy's plea

The Supreme Court on Friday granted four-week extension to the Central Bureau of Investigation and Reserve Bank of India to file reply on a plea filed by BJP leader Subramanian Swamy seeking probe into the alleged role of the central bank officials in various banking scams. A bench of Justices B R Gavai and Vikram Nath said it will hear the matter after six weeks. The top court had issued notices to the CBI and ED on October 17. Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed. He contended that despite playing a key role in the allocation of funds to various projects, RBI nominees have not been touched by CBI enquiries from 2000 till today. "Not a single RBI official has been brought to justice despite RBI retaining the power to monitor, regulate, supervise, audit and direct the functioning of all banking companies in India," the plea submitted. The plea also alle

Banks' loans rose 17% Y-o-Y in two weeks to Nov 4, deposits up 8.2%: RBI

Bank deposits rose Rs 1.69 trillion to Rs 173.70 trillion in the two weeks to Nov 4

Govt had no outstanding loans from RBI in Nov 11 week: Supplement release

The central government had no outstanding loans in the week earlier as well

RBI sold net $10.36 bn in spot foreign exchange market in Sept: Bulletin

The RBI said it bought $23.27 billion and sold $33.62 billion in the spot market

Economy resilient, but sensitive to global headwinds, says RBI article

With headline inflation beginning to show signs of easing, the domestic macroeconomic outlook appears to be resilient though it is still sensitive to global headwinds, an RBI article said on Friday. The article published in the latest RBI bulletin also said the outlook for the global economy remains clouded with downside risks. Global financial conditions have been tightening and deteriorating market liquidity is amplifying financial price movements. Markets are now pricing in moderate increases in policy rates and risk-on appetite has returned. In India, supply responses in the economy are gaining strength, it noted. "With headline inflation beginning to show signs of easing, the domestic macroeconomic outlook can best be characterised as resilient but sensitive to formidable global headwinds," the article said. Urban demand appears robust, while rural demand is muted but more recently picking up traction, it added. The article has been prepared by a team led by RBI Deputy Govern

India's economy to grow between 6.1% and 6.3% in Q2, says RBI bulletin

Data for the July-September quarter will be released at the end of this month

Note ban was to counter black money, terror finance, Centre tells SC

'The withdrawal of the legal tender character of the specified bank notes was one of the critical steps in the series of transformational economic policy steps'

Keep eye on macroeconomic scene: RBI to banks amid deposit growth concern

Concerned over deposit growth lagging high credit offtake; seeks views on collection, IT infra, DBUs

Indian banking sector resilient despite challenges: RBI Governor Das

Das made these remarks during a review meeting with Chairpersons of public sector banks and some private sector banks, which was also attended by other senior officials of the RBI

TMS Ep304: Slow deposit growth, Tech layoffs, S Naren, Twitter's blue tick

Why's RBI governor worried about deposit growth? Where did big tech and startups go wrong on hiring? What's worrying S Naren when it comes to equity markets? What is Twitter's blue tick? Answers here

Policy transmission disjointed in bond market: RBI deputy governor Patra

The Deputy Governor flagged instances of wild swings in sovereign bond yields in response to factors such as the announcement of the government's borrowing programme and interest rate changes

Bank borrowings up 2x amid rush to fund credit growth, shows RBI data

As liquidity shrinks, lenders' reliance on short-term funding routes increases

RBI governor Shaktikanta Das to meet bank chiefs ahead of monetary policy

Like to discuss issues related to growth, interest rates

9 Russian banks open vostro accounts for trade in Rupee after RBI approval

As many as nine special vostro accounts have been opened with two Indian banks after permission from the Reserve Bank of India to facilitate overseas trade in rupee, a top government official said on Tuesday. Sberbank and VTB Bank -- the largest and second-largest banks of Russia, respectively -- are the first foreign lenders to receive the approval after the RBI announced the guidelines on overseas trade in the rupee in July. Another Russian bank Gazprom - which does not have its bank in India - has also opened this account with Kolkata-based Uco Bank. "Nine accounts have been opened. One in Uco Bank, one in Sber, one in VTB and 6 with IndusInd Bank. These six are different Russian banks," Commerce Secretary Sunil Barthwal told reporters here. The move to open the special vostro account clears the deck for settlement of payments in rupee for trade between India and Russia, enabling cross-border trade in the Indian currency, which the RBI is keen to promote. The RBI has allowed th

India considers plan to reduce short-term borrowing as yields surge

The government may avoid incremental borrowing via the bills and only borrow to meet its previous repayment needs in the next quarter

RBI likely to go for smaller rate hikes as inflation eases: Analysts

The RBI has already raised rates by 190 bps since May, to 5.90%, as it battles to reign in inflation that has stayed above its 2%-6% tolerance band for ten straight months now.

Worst of rupee volatility seen over as Fed view softens: BS poll

Rupee likely at 81.68 by December-end, largely stable at 81.75 by March-end

RBI imposes monetary penalties on nine urban cooperative banks

The bank regulator has fined two banks each from Odisha, Madhya Pradesh, and Gujarat, and one bank each from Chhattisgarh, Maharashtra, and Jharkhand

Chatroom: 'Export incentives available on payments received through SVAs'

Export invoicing in INR is already allowed but the payment must come through Vostro Accounts maintained by foreign banks with a bank in India

Game-changing rules for asset reconstruction companies

The new norms succinctly sum up the RBI's view on how some of the ARCs have been run