The decision, which was taken at the meeting of the Central Board of the RBi in Chennai on Tuesday, follows a series of events including the IL&FS defaults, ICICI Bank loan issue, Punjab National Bank fraud and the liquidity issues in the NBFC sector in the last two years.
Meanwhile, the RBI is also considering new limits on the liquidity mismatches that NBFCs operate with as part of its plan to nudge them towards more stable sources of funding, banking sources said. NBFCs’ asset-liability mismatch norms are likely to be aligned with those of banks.
Ex-PepsiCo CEO Indra Nooyi is reportedly among the frontrunners for the post of World Bank CEO. US President Donald Trump is considering multiple candidates to nominate for the post and Nooyi's name is reportedly being considered.
The Reserve Bank of India on Monday announced that limits placed on cash withdrawals from ATMs stand withdrawn from Feb 1. However, the weekly withdrawal limit of Rs 24,000 will continue. The central bank also said that all limits on current account and overdraft accounts stand withdrawn with immediate effect. The RBI, however, allowed the banks […]
In a sharp u-turn by the Reserve Bank of India, the restrictions imposed on bank deposits exceeding Rs 5,000 in old notes have now been withdrawn by the central bank. In a circular issued to banks, the RBI said it was revoking the restrictions after reviewing the case. Facing severe criticism over the decision, the […]