Reserve Bank Of India | The Asian Age

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Bad loans to rise in 2020, says RBI

The gross non-performing assets (GNPA) ratio may increase to 9.9 per cent by September 2020 from 9.3 per cent.

28 Dec 2019 2:29 AM

MPC minutes hint at rate cut in February

Green shoots seen, capex cycle may be turning up.

20 Dec 2019 1:31 AM

Onion prices are ruling high since September and were in the range of Rs 130-140 a kilogram in Delhi on Friday.

High onion prices figured prominently in RBI MPC meeting, minutes show

The six-member MPC had kept the repo rate unchanged on December 5 despite moderation in economic growth and easing inflation.

19 Dec 2019 7:37 PM

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

Prime Minister Narendra Modi himself remains silent, while letting loose other worthies to either defend his economic policy or to reject the growth numbers themselves. (Photo: PTI)

What RBI’s revised forecast means for us

Since the BJP claims that people have voted for Mr Modi, the buck should rightfully stop at him.

09 Dec 2019 12:19 AM

RBI pegs GDP down to 5 per cent, no rate cut

The policy repo rate since February was cut in every policy, cumulatively easing by 1.35 per cent or by 135 basis points to 5.15 per cent.

06 Dec 2019 3:22 AM

Incidentally, the net-worth of all SFBs currently in operation is in excess of Rs 200 crore.

NBFCs, MFIs & co-ops can now become SFBs

The minimum paid-up voting equity capital or net worth requirement has been set at Rs 200 crore, up from Rs 100 crore as set earlier.

06 Dec 2019 2:18 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

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

Rangarajan added if at all the GDP becomes a USD 5-trillion gorilla, India's per capita income will grow USD 3,600 (around Rs 2.58 lakh) up from the present USD 1,800 (around Rs 1.29 lakh), leaving us still in the low-middle income country bracket. (Photo: File)

Ex-RBI Guv says reaching USD 5 trillion target at current rate 'simply out of question'

The economy has been on a steady decline, with growth rate slowing from 8.2 per cent in FY16 to 6.8 per cent in FY19.

22 Nov 2019 8:48 AM

Punjab and Maharashtra Cooperative (PMC) account holders protest outside the Bombay high court in Mumbai on Tuesday. (Photo: Asian Age)

Relaxing withdrawal limits: RBI to Bombay HC

The crisis at the bank is attributed to the loans allocated to realty firm the Housing Development Infrastructure Ltd (HDIL) without scrutiny.

20 Nov 2019 1:53 AM

The Reserve Bank of India (RBI) has mandated banks not to charge savings account holders for NEFT with effect from January 2020.

No NEFT charges from January

The RBI this year had done away with charges on NEFT and RTGS transactions and asked banks to pass on the benefit to their customers.

09 Nov 2019 3:39 AM

"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

This rapid growth in the payment systems, inter-alia, has been facilitated by a series of measures taken by the Reserve Bank of India," the central bank said in a statement on furthering digital payments. (Representational image)

No levying of charges on NEFT payment from January: RBI to banks

RBI has also proposed that FASTags would be enabled to pay for parking fee and even at fuel stations.

08 Nov 2019 5:26 PM

The RBI has also been decided to allow the depositors to withdraw from the PMC Bank's own ATMs within the prescribed limit of Rs 50,000. (Photo: File | PTI)

Withdrawal limit for PMC Bank depositors raised to Rs 50,000

With the above relaxation, more than 78 per cent of the depositors of the bank will be able to withdraw their entire account balance.

05 Nov 2019 6:30 PM

...it has been decided to integrate the supervision functions into a unified Department of Supervision, and regulatory functions into a unified Department of Regulation with effect from November 1, 2019,the Reserve Bank said.

RBI revamps departments for effective supervision, regulation of banking sector

Reserve Bank had separate departments for supervisory, regulatory functions which were integrated into two unified departments.

02 Nov 2019 12:27 PM

RBI rejigs internal setup to monitor banks better

The development follows the RBI’s central board decision to create separate supervisory and regulatory cadre.

02 Nov 2019 1:29 AM

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Chandrajit Banerjee