Page 6 - Rbi

RBI directs all banks to keep branches open till Mar 31 for annual closing

With annual closing of accounts scheduled for March 31 as the financial year 2022-23 is ending, RBI has directed all banks to keep their branches open till working hours of the above-mentioned date

RBI sells net $384 million in spot foreign exchange market in January

The Reserve Bank of India sold net $384 million in the spot foreign exchange market in January, the central bank's monthly bulletin showed on Tuesday

Unlike global economy, India would not slow down in FY24: RBI article

Unlike the global economy, India would not slow down and maintain the pace of expansion achieved in 2022-23, an RBI article said on Tuesday. "We remain optimistic about India, whatever the odds," said the article on the state of the economy published in the March edition of the Reserve Bank bulletin. The NSO's end-February data release indicates that the Indian economy is intrinsically better positioned than many parts of the world to head into a challenging year ahead, mainly because of its demonstrated resilience and its reliance on domestic drivers, it said. Even as global growth is set to slow down or even enter a recession in 2023 as global financial markets wager, India has emerged from the pandemic years stronger than initially thought, with a steady gathering of momentum since the second quarter of the current financial year, it said. "Year-on-year growth rates do not reflect this pick-up of pace because by construction they are saddled with statistical base effects, and ..

UK learning from India's work in financial inclusion: London Lord Mayor

Scope for UK green finance investments in India, says Nicholas Lyons

Top headlines: UBS needs RBI nod for C-Suisse, windfall tax on oil slashed

Business Standard brings you top headlines at this hour

As liquidity tightens, call money rate jumps to 7% before easing

Advance tax, GST payments leading to tight liquidity; RBI may do more repos

India's steadying economy shows early signs of weakening consumption

Economic expansion may be under pressure as the "full-blown impact" of the Reserve Bank of India's 250 basis point hike in borrowing cost since May gets transmitted to end-consumers, Crisil Ltd., the

RBI fines RBL Bank Rs 2.27 cr for failure on internal ombudsman scheme

Other charges levied against lender include non-compliance with RBI norms on credit card operations, code of conduct in outsourcing of financial services, and recovery agents engaged

US banking crisis: Key interest rates suggest RBI may go slow on tightening

The fall in OIS rates mirrored a decline in the 10-year US bond yield, which plunged close to 40 bps after the collapse of SVB

Digital India boon for commoners but conmen get smarter, reveals RTI

"The RBI's reply was revealing and unnerving...Just as the digital economy is soaring, the fraudsters and scamsters on the prowl in the virtual world are becoming bolder," said Sarda

As liquidity tightens, RBI injects Rs 1 trn for largest infusion in 4 years

Tighter liquidity conditions have resulted in sharp rise in money market rates

RBI imposes fine of Rs 5,00,000 on HDFC over transfer of deposits

Reacting to the penalty imposed by the central bank, HDFC Ltd said, it will take necessary steps to comply with the directions

Indian banking system is stable, resilient: RBI governor Shaktikanta Das

Highlighting the developments in the United States banking system over the past weeks, wherein few banks have gone belly up, RBI Governor Shaktikanta Das said

RBI imposes Rs 500,000 fine on HDFC for non-compliance of provisions by NHB

The Reserve Bank of India on Friday said it has imposed a penalty of Rs 5 lakh on Housing Development Finance Corporation Limited (HDFC) for non-compliance with certain provisions issued by the National Housing Bank (NHB). Giving details, the Reserve Bank of India (RBI) said a statutory inspection of the company was conducted by NHB with reference to its financial position as on March 31, 2020. It was revealed, inter alia, that the company failed to transfer matured deposits of certain depositors to designated bank accounts of such depositors during the period 2019-20, the RBI said in a statement. In furtherance to the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the directions, as stated therein. "After considering the company's reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI came to the conclusion that the charge of ...

HC seeks RBI response on PIL to probe Yes Bank transfer of assets portfolio

The Delhi High Court Friday sought response of the Centre, RBI and SEBI on a PIL seeking to form a committee of experts to investigate the transfer of a stress asset portfolio of Rs 48,000 crore from Yes Bank to JC Flowers Asset Reconstruction Company. In his PIL, former Rajya Sabha member Subramanian Swamy sought to direct the Union Ministry of Finance, Reserve Bank of India and Securities and Exchange Board of India (SEBI) to formulate comprehensive guidelines in accordance with recommendations of the committee to check any such future agreements/ transactions and to regulate the arrangements entered into between banks/ NBFS or other financial institutions and Assets Reconstructions Companies (ARC). A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad, which did not issue formal notice on the plea, asked the authorities to file their responses within four weeks and listed the matter for further hearing on July 14. It also asked Yes Bank Ltd and J C Flowers

Foreign exchange reserves fall $2.4 bn to over 3-month low of $560 bn

The reserves stood at $562.40 billion in the week to March 3

Delhi HC seeks Centre, RBI & SEBI response on Swamy's plea on Yes Bank

The Delhi High Court on Friday sought response of the Centre, Reserve Bank of India (RBI) and Securities Exchange Board of India (SEBI) on former Rajya Sabha MP Subramanian Swamy's plea

RBI doing it right on rate hikes, need more: IMF economist Luis Breuer

She further added that India's inflation was not due to excessive demand and so there is much less tightening needed than the US

Nifty 50 index heads for technical correction amid global turmoil

Rising interest rates, coupled with this year's rout in the Adani conglomerate's stocks, have also weighed on the local market

RBI Governor Das gets the 'Governor of the Year' award for 2023

Reserve Bank Governor Shaktikanta Das on Wednesday awarded the 'Governor of the Year' award for 2023 by the international publication Central Banking for captaining the financial markets through the turbulent periods of the pandemic and the crippling impact of the Ukraine war. Former governor Raghuram Rajan was the first to be conferred the title back in 2015 from the country. Awarding the 66-year-old Das, who is into his second term at the Mint Road, the publication said the governor helped manoeuvre the ship as it faced multiple obstacles since his appointment in December 2019, the Covid-19 pandemic and the Russia-Ukraine war being the two major tests. An economy as complex as India's will likely never be free from challenges but, as Das faces up to the remainder of his second term, he can take pride in major achievements so far," the award citation said. Das has captained critical reforms, overseen world-leading payments innovation and steered the country through difficult times