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Reserve Bank of India

RBI cancels licence of Vijayawada-based Durga Co-op Urban Bank

RBI cancels licence of Vijayawada-based Durga Co-op Urban Bank

Tue, Nov 12, 2024

The bank ceases to carry banking business, with effect from the close of business on November 12, 2024, the RBI said, adding that the Commissioner for Cooperation and Registrar of Cooperative Societies, Andhra Pradesh, has also been requested to issue an order for winding up the bank and appoint a liquidator.

Reserve Bank amends master direction on KYC

Reserve Bank amends master direction on KYC

Wed, Nov 06, 2024

The Reserve Bank on Wednesday made changes to the Know Your Customer (KCC) norms to align them with recent amendments carried out in the Prevention of Money Laundering (Maintenance of Records) Rules and revised certain existing instructions.

Nearly 98% of Rs 2000 banknotes returned; Rs 6,970 crore worth notes still with public

Nearly 98% of Rs 2000 banknotes returned; Rs 6,970 crore worth notes still with public

Mon, Nov 04, 2024

The Reserve Bank of India (RBI) on Monday said 98.04 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,970 crore worth such notes are still with the public.

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Jalan panel norms to apply to current, future RBI reserves

Jalan panel norms to apply to current, future RBI reserves

Fri, Apr 05, 2019

A senior Finance Ministry source said that the central bank's profit distribution policy as suggested by the Jalan committee report, if accepted, will be applicable on the current as well as future surplus reserves of the RBI.

Senior Citizen? Do you know about this facility? Your bank must provide

Senior Citizen? Do you know about this facility? Your bank must provide

Fri, Apr 05, 2019

Under this provision, senior citizens above 70 years can do certain basic banking transactions from their home, as the bank will arrange to have cash or cheque picked from their home against receipt.

Online frauds: Know when you have zero liability for unauthorised transactions

Online frauds: Know when you have zero liability for unauthorised transactions

Fri, Apr 05, 2019

Online banking fraud liability: In the wake of rising number of online frauds across the country, it has become necessary for customers to be aware of rules that will help them recover their losses

Will home loan rates fall for you after RBI repo rate cut? Find out

Will home loan rates fall for you after RBI repo rate cut? Find out

Thu, Apr 04, 2019

RBI may have cut the repo rate by 25 bps today to 6% and expectations are that home loan, auto loan and other loan rates will fall. But will they?

Realtors want banks to pass on rate cut benefits to borrowers

Realtors want banks to pass on rate cut benefits to borrowers

Thu, Apr 04, 2019

The RBI's decision to cut the key interest rate will boost housing sales and lift market sentiment, property developers and consultants said Thursday.

RBI to ensure strict turnaround time for customer plaints

RBI to ensure strict turnaround time for customer plaints

Thu, Apr 04, 2019

The Reserve Bank Thursday proposed to put in place a turnaround time (TAT) framework to resolving customer complaints without much delays, by the end of June.

RBI to hold more talks with banks on linking home, auto loans with external benchmark

RBI to hold more talks with banks on linking home, auto loans with external benchmark

Thu, Apr 04, 2019

The statement was issued after the three-day meeting of the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das.

RBI cuts repo rate by 25 basis points to 6%. Here is what experts have to say

RBI cuts repo rate by 25 basis points to 6%. Here is what experts have to say

Thu, Apr 04, 2019

"Given the volatility in Inflation due to Oil prices, MPC has lowered targets by 40bps with keeping buffer rate cuts if the inflation goes lower." said Sameer Kalra

RBI monetary policy: Central bank votes 4-2 for 2nd consecutive repo rate cut; read full statement

RBI monetary policy: Central bank votes 4-2 for 2nd consecutive repo rate cut; read full statement

Thu, Apr 04, 2019

RBI Monetary Policy: The reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent.

Government, RBI will have to bring new rules: Amitabh Kant on SC order on NPA circular

Government, RBI will have to bring new rules: Amitabh Kant on SC order on NPA circular

Wed, Apr 03, 2019

Meanwhile, on the rash of announcements on income support like the Congress promise of ensuring an annual income of Rs 72,000 each to 20 crore families through the Nyay scheme, which would involve an outgo of Rs 3.6 lakh crore per annum, Kant flagged the need to look at growth.

Economists aim for at least 25 bps rate cut by RBI

Economists aim for at least 25 bps rate cut by RBI

Tue, Apr 02, 2019

A panel of economists, including former Chief Economic Adviser Arvind Virmani, Tuesday called for at least 0.25 percentage point rate cut in the RBI's first monetary policy of the current fiscal.

Desh Ki Baat: Supreme Court rejects RBI's circular on resolution of stressed assets

Desh Ki Baat: Supreme Court rejects RBI's circular on resolution of stressed assets

Tue, Apr 02, 2019

The Supreme Court on April 2 strikes down the Reserve Bank of India's circular on resolution of stressed assets. In a big win for sugar, power, textile, and shipyard sector, the apex court struck down RBI circular dated February 12, 2018 that mandated banks to initiate resolution of bad debts over Rs 2000 crore.

Bankers:SC order doesn't take away our right to go to NCLTs

Bankers:SC order doesn't take away our right to go to NCLTs

Tue, Apr 02, 2019

Bankers have opined that the Supreme Court quashing the February 12 circular on NPA recognition does not dilute credit discipline and that they will continue the resolution process.

SC sets aside RBI's Feb 12 circular on bad loans, calls it 'unconstitutional'

SC sets aside RBI's Feb 12 circular on bad loans, calls it 'unconstitutional'

Tue, Apr 02, 2019

SC has set aside RBI's Feb 12 circular on bad loans, calls it 'unconstitutional'. Watch this video to know more.

Avoiding temptation, RBI likely to cut key rate by just 25 bps

Avoiding temptation, RBI likely to cut key rate by just 25 bps

Tue, Apr 02, 2019

Trading at 5.90 percent, the one-year interest rate swap works out at 5.75 percent on a daily basis, putting it 50 basis points below the current repo rate, according to rate derivative dealers. "I think the RBI will be more cautious than what the market is expecting," said Abheek Barua, chief economist at HDFC Bank in New Delhi. "We haven`t fallen off the cliff yet for a 50 basis point cut," he said.

RBI February 12 Circular fails Supreme Court Test: Why this is good news for power, sugar, other companies

RBI February 12 Circular fails Supreme Court Test: Why this is good news for power, sugar, other companies

Tue, Apr 02, 2019

The RBI circular had directed lenders to refer any loan account over Rs 2,000 crore under the Insolvency and Bankruptcy Code (IBC) if it was not resolved within 180 days of default.

RBI to unveil this fiscal's first bi-monthly policy decision on Thursday

RBI to unveil this fiscal's first bi-monthly policy decision on Thursday

Mon, Apr 01, 2019

A back-to-back cut in interest rate would provide relief to borrowers in the election season, experts say. Ratings firm ICRA said: "We expect a 25 bps rate cut in the upcoming meeting of monetary policy committee..."

RBI sets up PCR to solve SME, MSME bank loan issue

RBI sets up PCR to solve SME, MSME bank loan issue

Mon, Apr 01, 2019

RBI's PCR move will facilitate access of financial institutions to the entire profile, including past loan details, and also regular income flows of borrowers.

Bank Holiday Today (April 1): Here's what you need to know

Bank Holiday Today (April 1): Here's what you need to know

Sun, Mar 31, 2019

On account of the financial closing of accounts on April 1, 2019, all commercial and co-operative banking institutions will remain closed on Monday.

Another RBI Repo Rate Cut? Home Loans, Car Loans, Personal Loans to get cheaper? What experts say

Another RBI Repo Rate Cut? Home Loans, Car Loans, Personal Loans to get cheaper? What experts say

Sun, Mar 31, 2019

The Reserve Bank of India (RBI) may cut key lending rates by another 25 basis points on Thursday to boost economic activities amid fears of global slowdown impacting domestic growth prospects, experts said.

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