RBI

RBI to transfer Rs 28,000 cr as interim dividend to government

Today's decision of the transfer makes this the second consecutive year that the Reserve bank will be granting an interim surplus to the Centre. The RBI follows the July-June fiscal calendar. 

Arun Jaitley to address RBI board on Monday

The government expects Rs 28,000 crore from the RBI as interim dividend for 2018-19 based on the financial position of the central bank.

RBI rate cut to boost growth, make loan affordable: Piyush Goyal

The Reserve Bank of India (RBI) has reduced repo rate (at which RBI lends to banks) by 0.25 per cent to 6.25 per cent, a move that will translate into softening interest rates.

RBI cuts lending rate by 0.25%, projects GDP growth at 7.4%

This was the first monetary policy presented by Governor Shaktikanta Das after he took over in December.

Ahead of interim budget, finance ministry asks RBI: How much dividend can you transfer?

One of the contentious issues in the conflict between the government and the RBI under Urjit Patel was the size of the central bank’s reserves, which at Rs 9.6 lakh crore was then perceived as being excessive by the government.

PCR has to be backed by a comprehensive Act: RBI Deputy Governor Viral Acharya

In the meantime, the RBI has set up an Implementation Task Force that is putting the systems infrastructure in place to kick-start the PCR with data from regulated entities that can be covered either under, or with minor tweaking, of the extant legislative framework.

Legislating payments out of RBI’s excess capital could compromise its independence

Putting a part of the country’s assets in a protected entity like the central bank builds fiscal credibility of the country as long as the central bank is viewed by markets as being independent of the government.

RBI wants more players to promote payment platforms

Central bank had earlier opposed government’s plan for separate regulator for payment systems .

Banking sector on 'course to recovery' as NPAs recede: RBI Governor

According to the report, gross NPAs ratio declined to 10.8 per cent in September 2018 from 11.5 per cent in March 2018, while for the state-run lenders, the same improved to 14.8 per cent in September 2018 from close to 15.2 per cent in March 2018.

Not seeking RBI surplus to finance fiscal deficit: Jaitley

Jaitley said that central banks of most of the countries keep a reserve of 8 per cent, while some conservative central banks maintain 14 per cent reserves. The RBI was maintaining a reserve of 28 per cent, he said.

‘Think of it the other way, not about govt raiding RBI, but how RBI could have behaved differently’

In this edition of the Idea Exchange, Former Chief Economic Adviser Arvind Subramanian talks about demonitisation, defends GST, explains the reasons why growth has not been robust and reflects back on his tenure as Chief Economic Adviser of India.

Express Eye for Detail Ep 12: Two years of demonetisation, the Diwali mess and Faizabad renamed as Ayodhya

Two years on, The Indian Express learns that RBI did not approve of demonetisation and more about the week’s top stories in Express Eye for Detail episode 12.

Eye for Detail EP 12: All about the Ayodhya uncertainty, RBI vs govt and Statue of Unity

How the BJP and RSS are reacting to the Supreme Court deferring the Ayodhya case, why the RBI and the government are at loggerheads and what it means to have a statue worth almost Rs 3000 crores. All that and more in this week’s Eye for Detail.

'For the first time we have a majority govt. If some hard decisions have to be taken, they must be announced now'

Former governor of Reserve Bank of India Bimal Jalan talks about how he addressed the issues of transparency and accountability in financial transactions and governance in his new book, India Ahead: 2025 and Beyond.

Congress has no faith in us or any other institution because it has no faith in itself: Narendra Modi

Prime Minister Narendra Modi said the Congress party has no faith in the government, the CJI, the RBI or any international organisation that gives data on India's growth. He said it is because Congress has no faith in itself.

Demonetisation: RBI recovers almost all banned notes

56.4 Per Cent Rise In Bad Loans Or Non Performing Assets Of State Owned Banks

RBI Asks Banks To Track Demand Drafts Used To Convert Old Notes To New During Demonetisation

Election Commission Hits Back After RBI Rejects Plea To Raise Cash Limits For Poll Candidates

Rs 14 Lakh Crore In Old Notes Back With Banks, Micro-Small Scale Industries Suffer Job Loss