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PNB has suspended 10 officers over the scam and referred the matter to CBI for investigation. (Photo: PTI)

Tighten regulation over banks, shut loopholes

The finance ministry's mandarins appoint the bank chiefs, so they can't be absolved of responsibility when frauds occur.

20 March 2018 12:15 AM IST

There are allegation that from November 15 to November 18, the bank manager had issued 149 demand drafts for amounts less than Rs 50,000 in favour of a Pune-based finance company in violation of RBI guidelines.

Business

RBI likely to remain on extended pause: report

Inflation is likely to remain close to 4.5 per cent during 2018-19, says a report.

19 March 2018 10:43 AM IST

The RBI has always said monetary policy should be accompanied by fiscal policy if the wheels of the economy are to be greased. (Photo: PTI)

India

Demonetised Rs 500, Rs 1,000 notes shredded, briquetted: RBI

The central bank had earlier estimated the value of old Rs 500 and Rs 1,000 notes received, as on June 30, 2017, at Rs...

18 March 2018 1:07 PM IST

Business

RBI issues corrective framework for PSBs

RBI has issued a Prompt Corrective Action (PCA) framework to maintain sound financial health of banks.

17 March 2018 1:14 PM IST

$With multiple agencies probing the alleged Rs 13,000-crore fraud at state-run Punjab National Bank, the Reserve Bank of India (RBI) says it has conducted its scrutiny and the matter is currently under examination for \enforcement action\.$ Business

RBI puts Dena Bank under prompt corrective action

In value terms, the gross NPAs or bad loans rose to Rs 16,361.44 crore from Rs 12,618.73 crore.

12 May 2018 11:18 AM IST

The industrial growth measured by the Index of Industrial Production (IIP) for 2017-18 too decelerated to 4.3 per cent from 4.6 per cent in the previous fiscal. The IIP had grown by 4.4 per cent in March 2017.

Business

Industrial output dips to 4.4 per cent

However, despite a low growth RBI is not expected to cut interest rates in the next policy review meeting due to...

12 May 2018 12:17 AM IST

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

Business

Nine in the race for RBI deputy governor's post, interview today

The search panel also includes the RBI governor, financial services secretary and some independent members.

10 May 2018 9:28 AM IST

Public sector banks (PSBs) wrote off Rs 2.41 lakh crore worth of loans between April 2014 and September 2017, the Rajya Sabha was informed on Tuesday.

Business

PSBs need to pass reform test for recapitalisation

Till March 31, 2018, the finance ministry disbuÂ¬rÂ¬sed Rs 88,000 crore under the plan.

9 May 2018 8:24 AM IST

The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, started its 2-day meeting on Wednesday.

Business

Over 23,000 bank fraud cases involving Rs 1 lakh crore in 5 yrs: RBI

A total of 5,152 cases of fraud, up from over 5,000 cases in 2016-17, were reported in banks from April, 2017, to March...

2 May 2018 2:16 PM IST

Business

Bonds gain after RBI relaxes foreign investment rules

The benchmark 10-year bond yield was down 5 basis points at 7.72 per cent by 0337 GMT.

2 May 2018 11:00 AM IST

Business

Ahead of monetary policy, RBI Governor holds meeting with Jaitley

The six-member Monetary Policy Committee (MPC), is to meet on April 4 and 5 to decide the monetary policy.

31 March 2018 11:07 AM IST

Business

RBI to take hawkish stance by end-2018, hike rates early next year

According to RBI's own projections, inflation is likely to average 5.1-5.6 pc for first half of the 2018-19 fiscal year.

30 March 2018 11:00 AM IST