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Banning of letters of undertaking (LoUs) and letters of comfort (LoCs) by the RBI as trade finance instruments is likely to reduce financial flexibility of importers, a Fitch group company said on Wednesday.Business
LoU ban to impact financial flexibility of importers

The central bank stopped banks from issuing the two instruments for trade credits for imports into India.

4 April 2018 7:32 PM IST

The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, started its 2-day meeting on Wednesday.Business
RBI's Monetary Policy Committee begins discussions, decision on key...

RBI on Thursday will make public the resolution of the MPC.

4 April 2018 4:08 PM 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 wrote off Rs 2.41 lakh crore loans in over 3 years

The Rajya Sabha was informed on Tuesday.

3 April 2018 7:42 PM IST

Bank stocks on Tuesday gained up to 5 per cent.Business
Bank stocks climb up to 5 per cent on RBI move

The move is expected to optically cushion profitability in the near term.

3 April 2018 1:51 PM IST

The Reserve Bank of India (RBI) late on Monday dropped Axis Bank from a list of banks it has cleared to import gold and silver in the current financial year that began April 1.Business
RBI drops Axis Bank from list of bullion importers

It was unclear why Axis, one of India's leading importers of bullion, did not feature in the list.

3 April 2018 12:57 PM IST

Twenty-one banks, majority owned by New Delhi, account for more than two-thirds of the banking assets in Asias third-biggest economy.Business
Govt pushes state banks to find own funding sources

Including restructured or rolled over loans, all banks in India had a total 9.5 trillion rupees of soured loans.

3 April 2018 12:43 PM IST

The RBI has asked Axis Banks board to re-consider the decision to re-appoint Shikha Sharma as its MD and CEO for a fourth term.Business
RBI asks Axis Bank to re-consider Shikha Sharma as MD

The move comes against the backdrop of persisting concerns over mounting Non-Performing Assets (NPAs) in the banking...

2 April 2018 7:50 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
PNB fraud case: RBI says examining enforcement action

RBI says it has conducted its scrutiny and the matter is currently under examination for "enforcement action".

1 April 2018 1:16 PM IST

State Bank of IndiaBusiness
Fixed term deposits in SBI to now emanate higher interests

The revised rate which comes into effect from 30th July, 2018, will be applicable on retail deposits below Rs 1 crore.

30 July 2018 2:20 PM IST

Chief Economic Adviser Arvind Subramanian termed the GST launch a big transformational event of 2017-18. (Photo: ANI)Business
Fuel, land and electricity will be under GST, says CEA Arvind...

He also praised the central bank for handling of rupee volatility.

20 July 2018 11:56 AM IST

The Reserve Bank of India is set to introduce a new Rs 100 denomination note. (Photo: ANI/Twitter)Business
Reserve Bank of India to shortly issue lavender coloured Rs 100 notes

The existing 100 rupee note will continue to be legal tender, as told by RBI.

19 July 2018 3:42 PM IST

Indias retail inflation cooled to a two-year low in November after demonetisation. (Photo: AP/File)Business
Retail inflation accelerates to 5 per cent in June

June was the eighth straight month in which inflation was higher than the central bank's medium-term target of 4 per...

12 July 2018 6:00 PM IST

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