Reserve Bank India

Reserve Bank India News

Jan onwards, no charge for NEFT transfer from savings account: RBI

The RBI used to levy minimum charges on banks for transactions routed through RTGS and NEFT system for other fund transfers. Banks, in turn, levied charges on their customers.

RBI Central Board meet: Regulation of cooperative banks, NBFCs taken up

“In this context, the board also discussed in detail the current state of the financial sector with special focus on the regulatory and supervisory architecture of commercial and cooperative banks as also NBFCs,” the central bank said in a statement.

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PMC bank fraud: Mumbai Police's Economic Offence Wing arrests suspended MD Joy Thomas

According to the Mumbai Police FIR, the losses in the alleged fraud case have been pegged at Rs 4,355 crore.

Behind PMC Bank collapse: Its close links with HDIL promoters

The bank’s cosy relationship with realty firm HDIL goes much beyond this. PMC Bank virtually acted as the in-house banker of the company even when company was facing insolvency proceedings in the National Company Law Tribunal (NCLT).

Relief for PMC bank customers as RBI raises cash withdrawal limit to Rs 10,000

The restrictions were imposed by the central bank after it found certain irregularities with PMC bank, including under-reporting of NPAs.

‘On tap’ licence regime: RBI proposes `200 cr capital for small finance banks

An SFB is primarily set up to undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections, including small business units, small and marginal farmers, micro and small industries, and unorganised sector entities.

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Turning new page, RBI dips into its reserves to transfer record Rs 1.76 lakh crore to govt

The transfer includes Rs 1.23 lakh crore of surplus for 2018-19 and Rs 52,637 crore of excess provisions identified under a revised Economic Capital Framework (ECF). It is over three times the five-year average of Rs 53,000 crore.

India Inc’s Q1 profit takes a hit amid high interest costs, demand slowdown

Interest costs soared by 22.16 per cent to Rs 65,485 crore during the first quarter ended June 2019 even as demand slowdown started hitting India Inc.

Explained: What is the significance of the Jalan committee report?

The report of the committee, headed by former RBI Governor Bimal Jalan, was finalised on Wednesday after a meeting in New Delhi and will be submitted to the central bank “very soon”.

Quicker transmission of rate cut by banks expected: RBI Governor

During this year, the RBI reduced the key policy rate thrice with an aggregate reduction of 0.75 percentage point in the repo rate, the rate at which RBI lends to banks.

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