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RBI Governor Shaktikanta Das hoped for the US-China truce on trade tariffs, announced over the weekend, would last as he pitched for coordinated efforts to push global growth like those after the 2008 financial crisis. (Photo: File)

RBI saw slowdown, acted ahead of time by cutting interest rates from Feb: Das

In the last MPC meeting when we took a pause, I don't know why the market was surprised, said RBI Gov Shaktikanta Das.

16 Dec 2019 11:52 AM

In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which surged by USD 1.891 billion to USD 421.258 billion, according to the data.

Forex reserves soar to touch all-time high of USD 453 billion

The country's reserve position with the International Monetary Fund also increased by USD 15 million to USD 3.644 billion, the data showed.

14 Dec 2019 11:06 AM

The RBI has asked the member banks to keep adequate liquidity in their current account with the regulator at all times to facilitate successful posting of NEFT batch settlements. (Photo: ANI)

NEFT transactions to be available 24x7 from Dec 16

RTGS is meant for large-value instantaneous fund transfers, while NEFT is used for fund transfers of up to Rs 2 lakh.

07 Dec 2019 11:26 AM

RBI to retain dovish bias going forward: report

The RBI reiterated that it would maintain an accommodative stance as long as necessary to revive economic growth.

07 Dec 2019 10:46 AM

The world over, central banks and the governments are against private digital currency because currency issuance is a sovereign function and it has to be done by the sovereign, said RBI governor Shaktikanta Das. (Photo: File | PTI)

No way privately-issued digital currencies can be allowed: RBI Gov Das

The comments come a year after government tagged Bitcoins and other cryptocurrencies illegal and the RBI banned their trade.

05 Dec 2019 5:48 PM

Reserve Bank governor Shaktikanta Das pointed towards a line in the monetary policy committee resolution, which makes it "explicitly" clear that there is a scope for further rate cuts. (Photo: File)

We can't keep on slashing policy rates every time: Shaktikanta Das

The sharp decline in growth had many analysts assuming the Reserve Bank will deliver a rate cut on Thursday.

05 Dec 2019 1:34 PM

The Monetary Policy Committee recognises that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture, the RBI said in its fifth bi-monthly monetary policy for this fiscal.

Reserve Bank keeps benchmark interest rate unchanged at 5.15 per cent

The central bank also revised GDP growth downwards to 5 per cent for 2019-20 from 6.1 per cent projected in its October policy.

05 Dec 2019 12:08 PM

PMC Bank depositors have alleged failure on the part of the RBI to take preventive steps to secure their interests.

Depositors hit out at RBI for failure

A division bench of Justice S.C. Dharmadhikari and Justice R.I. Chagala was hearing the PILs and writ petitions filed by the PMC Bank depositors.

05 Dec 2019 1:36 AM

Notwithstanding the upturn, the headline figure remained below its long-run average of 54.2, the survey added. (Photo: Representational)

Services output expands for first time in 3 months: PMI

The IHS Markit India Services Business Activity Index improved to 52.7 in November from 49.2 in October.

04 Dec 2019 11:33 AM

The gross domestic product numbers released on Friday showed government spending helping to prop up weak demand.

RBI may go for sixth repo rate cut to boost economy

The economy is expanding well below the rate needed to generate enough jobs for the millions of young Indians.

03 Dec 2019 2:08 PM

The Reserve Bank on Friday sent the troubled mortgage lender for bankruptcy proceedings, making it the first financial services player to go to the NCLT for a possible debt resolution.

DHFL shares fall nearly 5 pc as RBI starts resolution process

Over 17 lakh shares of DHFL were traded on the NSE, while the BSE saw an exchange of 4.51 lakh shares.

02 Dec 2019 4:37 PM

The previous low was recorded at 4.3 per cent in the January-March period of 2012-13.

India's GDP growth further dips to 4.5 pc in July-Sept

The Gross Domestic Product (GDP) growth was registered at 7 per cent in the corresponding quarter of 2018-19.

29 Nov 2019 6:07 PM

The central bank also said there will an interim moratorium on the lender between the date of filing of the bankruptcy application and its admission or rejection.

RBI sends DHFL to NCLT for resolution

The city-headquartered pureplay mortgage lender becomes the first NBFC/HFC to go for bankruptcy resolution.

29 Nov 2019 4:22 PM

IDFC First Bank's Non-Executive Chairman Rajiv Lall, ICICI Prudential Life Insurance's Managing Director and Chief Executive N S Kannan, and mutual funds' association AMFI's Chief Executive N S Venkatesh would be part of the panel, an official statement said.

RBI appoints 3-member advisory panel for DHFL

RBI superseded DHFL's board and placed company under an administrator in the wake of governance issues and severe liquidity crisis.

22 Nov 2019 3:02 PM

On September 23, the RBI had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities. (Photo: PTI)

PMC case: 'Depositors can approach RBI admin for emergency withdrawals'

The apex bank also stated that a largescale wrongdoing has been found in the PMC bank.

19 Nov 2019 4:19 PM

The corporate insolvency resolution process for an FSP would be initiated ‘only on an application by the appropriate regulator’.

NBFCs with Rs 500 cr assets can go for insolvency resolution

On Friday, the ministry notified the framework for dealing with systemically important FSPs, excluding banks.

19 Nov 2019 9:35 AM

The higher inflation will be driven by base effects or lower inflation in the year-ago period when the same number had dipped to 2.2 per cent.

'RBI to cut rates by 40 bps by Feb despite high inflation'

GDP growth plummeted to a six-year low of 5 per cent for the June quarter and is expected to come lower for the September quarter.

14 Nov 2019 4:04 PM

In July 2019, the RBI had turned a net seller of the US dollar for first time in this fiscal, after it sold USD 93 million on a net basis. (Photo: AFP)

RBI becomes net buyer of dollars in Sept, bought USD 5.61 billion

RBI purchased USD 6.514 billion and sold USD 900 million in the spot market, according to a recent RBI data.

13 Nov 2019 9:33 AM

The report, however, said the economic growth rate will pick up pace in 2020-21 to 6.2 per cent.

India's GDP likely to grow 5 per cent this fiscal: SBI report

India is also significantly lower in Economic Uncertainty Index when compared globally

12 Nov 2019 5:08 PM

"Further, the limit on total indebtedness of the borrower has been increased from Rs 1 lakh to Rs 1.25 lakh," the circular said.

RBI raises limit for borrowing from microfinance institutions

The limit has been increased from Rs 1.6 lakh for urban or semi-urban areas to Rs 2 lakh, the RBI said in a circular.

08 Nov 2019 8:28 PM

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Mohan Guruswamy