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Reserve Bank of India News

Explained: Why interest rates aren’t falling

Since February, RBI has cut its interest rate by 135 basis points. Yet, bank lending rates for new loans have not fallen by much while interest rates on many existing loans have actually gone up. What explains this?

Panel for accommodative stance ‘as long as it is necessary to revive growth’

According to the minutes of the MPC meeting, RBI Governor Shaktikanta Das said the government has also initiated several measures in recent months, which, together with monetary easing by the Reserve Bank, are gradually expected to work their way through the real economy.

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Lakshmi Vilas Bank, Syndicate Bank shares fall after RBI fine

The Reserve Bank has imposed a monetary penalty of Rs 1 crore on Lakshmi Vilas Bank and Rs 75 lakh on Syndicate Bank for violating asset classification and fraud detection norms.

First contraction in two years, IIP dips 1.1% in August

The slide in the headline IIP numbers has been triggered by a contraction in manufacturing and electricity, alongside a record contraction in the production of capital goods — reflective of the weak investment climate.

FM Sitharaman for tighter co-op bank norms, deposit insurance hike

On providing immediate relief to PMC account holders, the Minister assured the delegation that she would speak to the RBI Governor again.

Denied nod for merger, LVB shifts focus to raise capital

In a press release on Thursday, LVB said it is assuring the best of services to its clients, while committing towards growth and creating value for its stakeholders.

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PMC bank fraud case: Several red flags fluttered right under RBI’s nose

The PMC scam went undetected for around 11 years despite the RBI requiring all regulated entities — including cooperative banks — to submit details of transactions and accounts to it since February 2016.

Bank of Maharashtra can’t settle losses against reserve account: RBI

The bank’s board and shareholders approved setting off accumulated losses of Rs 7,360.29 crore as of March 31, 2019, against the balance lying in share premium account and revenue reserve account of bank as on date of set-off, the bank said.

RBI rejects proposed merger of Lakshmi Vilas Bank, Indiabulls Housing Finance

After Indiabulls made the merger proposal, the bank had taken up with “applicable regulatory authorities for approval of the amalgamation process”.

RBI rejects proposed merger of Indiabulls Housing Fin with Lakshmi Vilas Bank

Last month, the bank was placed under Prompt Corrective Action (PCA) due to high level of bad loans, lack of sufficient capital to manage risks and negative return on assets for two consecutive years.

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Farmers' plight should "shake the conscience" of the banking sector : PM Narendra Modi

PM Narendra Modi complimented RBI Governor Raghuram Rajan for his grasp and clarity on economic issues.

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Will Ex-PepsiCo chief Indra Nooyi be the World Bank's next CEO?

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.

RBI Removes Withdrawal Limits On ATMs For Current Accounts

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 […]

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RBI Buckles Under Pressure, Withdraws Rs 5,000 Deposit Limit

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 […]

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