The scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs, the RBI said
While the failure of SWIFT-CBS link led to the Rs 11,400 crore fraud at PNB, many banks are yet to establish the linkage
According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 90.4017 and 60.59 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon
In respect of accounts with aggregate exposure of the lenders at Rs 2,000 crore and above, on or after March 1, 2018 (reference date), resolution plan RP should be implemented within 180 days.
RBI said in the report, for the year ended June 30, 2017, that only Rs 16,050 crore of the Rs 15.44 lakh crore in old high denomination notes had not returned
Addressing the media after a customary post-Budget address by Finance Minister Arun Jaitley to the RBI’s board, Patel said the correction in the last few days underscores that market indices can move pretty quickly.
Finance Minister Arun Jaitley said this after a meeting with the Central Board of Directors of the Reserve Bank of India
All those candidates who had appeared for the same can check their respective results at the official website – rbi.org.in
Reducing the corporate tax rate for companies with turnover of up to Rs 250 crore should be seen a progression towards the next step: Ashu Suyash.
Major gainers that supported the recovery were Infosys, HDFC LTD, Axis Bank, Maruti Suzuki, Yes Bank, Dr Reddy’s, SBI, Hero Motocorp and M&M, gaining up to 2.08 per cent.
The Reserve Bank of India (RBI) on Wednesday projected a higher inflation of 5.1-5.6 per cent in the first half of fiscal 2019 before moderating to 4.5-4.6 per cent in the second half with upside risks.
The RBI move follows Finance Minister Arun Jaitley’s Budget announcement of a series of measures for MSMEs including lowering the corporate tax rate to 25 per cent for businesses with a turnover of up to Rs 250 crore.
The central bank has projected inflation to be in the range of 5.1-5.6 per cent in the first half of 2018-19. Meanwhile, the RBI has kept the key repo rate, at which it lends to banks, unchanged at 6 per cent.
The RBI, in its monetary policy statement, has lowered economic growth projection to 6.6 per cent for 2017-18, from 6.7 per cent. It has estimated 7.2 per cent growth in the next fiscal.
Inflation is expected to accelerate after the government’s budget last week widened its fiscal deficit target for the fiscal year starting in April to help finance a sharp increase in spending in the rural areas and on healthcare.