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Asserting that all its loans are fully secured, suspended PMC Bank managing director Joy Thomas stated that one large account - HDIL - was the sole reason for the present crisis that led to the regulatory action on Tuesday. (Photo: PTI)

PMC Bank board sacked, withdrawal limit raised

Cash withdrawal limit raised to Rs 10,000.

27 Sept 2019 1:34 AM IST

The bank will also not be able to grant or renew any loans and advances, make any investment or incur any liability now.

RBI puts restrictions on PMC Bank for 6 months

Under-reporting of bad loans could be one reason behind RBI placing restrictions.

25 Sept 2019 1:35 AM IST

State Bank of India

SBI to link all new floating loans to repo

The bank will also voluntarily extend benchmark-based lending to medium enterprises to boost lending to the MSME sector...

24 Sept 2019 1:43 AM IST

Shaktikanta Das

RBI is fully autonomous, but govt is sovereign: Shaktikanta Das

Das added that the future rate cuts would depend on the incoming data.

21 Sept 2019 2:58 AM IST

The rupee fell against the dollar as the greenback strengthened post Fridays upbeat US non-farm payroll data.

Rupee rallies, but bond yields spike

The rupee settled 37 paise higher against the dollar at 70.94

21 Sept 2019 2:53 AM IST

The credit book of Dena Bank de-grew during this period.

Consolidation of PSBs may choke fresh loans

The credit book of Dena Bank de-grew during this period.

31 Aug 2019 1:31 AM IST

The Union government, or for that matter, the ministry of finance should not interfere in the functioning and decision-making powers of the RBI. (Photo: AFP)

RBI's contingency fund falls to Rs 1.96 lakh crore

The RBI said as of June 30 it stands as a central bank with one of the highest levels of financial resilience...

30 Aug 2019 1:47 AM IST

Reserve Bank of India (RBI) on Thursday directed all payment system operators in India to store data within the country.

What went behind RBI decision to transfer funds?

The RBI was founded in 1935 and has been operating according to the Reserve Bank of India Act of 1934.

28 Aug 2019 2:47 AM IST

The rupee rose sharply against the US dollar while bonds climbed for a second day on hope that the higher than estimated surplus transfer by the central bank to the government would ease fiscal and current account deficit concerns.

Government weighing options on using RBI payout

The government is also expected to announce more measures this week to support economic growth.

28 Aug 2019 2:41 AM IST

Banks received 3 trillion rupees ($44.4 billion) of 500- and 1,000-rupee notes over the last four days.

Banks to get Rs 70,000 crore more, system to bulge by Rs 5 lakh crore

The move is expected to generate an additional lending and liquidity in the financial system to the tune of Rs 5 lakh...

24 Aug 2019 1:42 AM IST

The Reserve Bank last month put IDBI Bank under watch by initiating Prompt Corrective Action against it.

IDBI Bank Q1 net loss widens to Rs 3,800 crore

Provisions during the quarter increased 20.93 per cent to Rs 6,332.05 crore as against Rs 5,235.96 crore in the year-ago...

15 Aug 2019 1:43 AM IST

Global rating agency Fitch on Monday slashed its GDP forecast for India for FY18 saying growth has repeatedly disappointed in recent quarters.

Risks in sector may rise when banks lend more to NBFCs: Fitch

It said that if banks direct more funds to the sector, mostly the strongest NBFCs are likely to be benefited.

15 Aug 2019 1:35 AM IST