RBI

Founder and former managing director of Yes Bank Ltd, Rana Kapoor

Yes Bank crisis explained: What led to the downfall of India's fifth largest private lender?

An RBI moratorium was the last resort to ensure Yes Bank lives through its crisis of deteriorating financial health and a huge pile of bad credits, while State Bank of India stepped in to save the bank by suggesting schemes of reconstruction or amalgamation.

Mar 7, 2020

Yes Bank founder Rana Kapoor's Mumbai house raided after ED registers money laundering case

Registering a money laundering case under PMLA against Yes Bank Director Rana Kapoor, the Enforcement Directorate raided his Mumbai residence and will soon issue a look out notice against him as well.

Mar 7, 2020

YES Bank revival scheme: RBI announces reconstruction plan for capital-starved bank, what it means

As per the Scheme of Reconstruction, the Reserve Bank invited suggestions and comments from members of the public, including the banks' shareholders, depositors and creditors on the draft scheme.

Mar 6, 2020

Cryptocurrency ban lifted by RBI in India: What the SC ruling means?

The SC lifted the cryptocurrency ban imposed by RBI in early 2018, which prevented financial institutions in India from providing banking services to cryptocurrency companies. Industry experts hail SC's bold move, but advise users on exercising caution trading in crypto and companies to improve AML policies and ensure data privacy.

Mar 5, 2020

No delay in mega-merger of 10 PSU banks from April 1, loans will be restructured: Nirmala Sitharaman

The speculation around mega-merger of 10 PSU banks to be delayed by at least 6 months owing to regulatory hurdles and need for extra funds to manage the merger has been put to rest. Finance Minister, Nirmala Sitharaman confirmed the merger will indeed happen on April 1.

Feb 28, 2020

Bank employees' unions to call for a nationwide three-day strike from March 11 to 13

The bank employees' unions have warned to go on a three-day strike from March 11 to 13 and an indefinite strike from April 1, if their wage demands go unmet.

Feb 28, 2020

'Don't panic': BJP MP Tejasvi Surya assures depositors after RBI caps withdrawal limit of Bengaluru bank

Reserve Bank of India (RBI) on January 10, imposed severe curbs on cash withdrawal limits of Sri Guru Raghavendra Sahakara Bank. According to the order, customers can only withdraw up to Rs 35,000 for the next six months.

Jan 14, 2020

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As retail inflation soars high, RBI likely to put hold on rate cuts

Economists say that rising headline and food inflation would soon feed into core inflation - stripping out food and fuel prices.

Jan 14, 2020

RBI curbs Bengaluru private bank from doing business for alleged irregularities

RBI has clarified that its directive should not be construed as a cancellation of the bank's license issued by it.

Jan 12, 2020

Govt mulls over cutting spending to curb deficit; may hurt growth

Asia's third-largest economy, which is growing at its slowest pace in over six years because of lack of private investment, could be hurt further if the government cuts spending.

Jan 7, 2020

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Market outlook: RBI's 'operation twist', Jharkhand results to sway indices

Investor sentiments will be swayed by derivatives expiry and rupee's strength against the US dollar.

Dec 22, 2019

RBI keeps repo rate unchanged at 5.15%, real GDP growth revised to 5%

The reverse repo rate is at 4.90 percent and bank rate at 5.40 percent.

Dec 5, 2019

RBI to make sixth interest rate cut, but will it help boost the economy?

Growing by 4.5 percent annually in the June-September quarter, down from 7 percent a year earlier, the economy is expanding well below the rate needed to generate enough jobs.

Dec 4, 2019

No decrease in direct tax collection, went up 5% in November: Sitharaman

FM Sitharaman categorically said that there was no decrease in direct tax collection. "In fact, there is an increase of 5 per cent in the gross direct tax collection till November this fiscal."

Dec 3, 2019

Market outlook: Lending rates, auto sales to set equities trends

The direction of foreign fund flows, rupee's movement against the US dollar as well as global crude oil prices will affect investor sentiment.

Dec 1, 2019

PMC fraud: RBI affidavit details how it was 'cheated' by scam-hit Bank

The affidavit states that PMC Bank had submitted fraudulently manipulated data to the central bank for sample checks.

Nov 20, 2019

15 foreign banks are looking to open branches in India, says RBI

As per RBI Data, 46 foreign banks are already operating in India, including two banks operating in wholly-owned subsidiary (WOS) mode.

Nov 20, 2019

India's October retail inflation breaches RBI's medium-term target

Retail food prices, which make up nearly half of India's inflation basket, increased 7.89% in October from a year earlier, against 5.11% in September.

Nov 14, 2019

How the Singh brothers stripped Religare bare of Rs 3,000 crore

Former Foris Health Care promoters, Malvinder Mohan Singh and Shivinder Mohan Singh, who were arrested for misappropriating funds of Religare Finvest, sought for interim bail as they want to settle the case with the complainant.

Oct 19, 2019

IMF warns of economic slowdown in 90% of world, India to be hit hard

According to the new head of the 189-nation, the widespread deceleration means that growth this year will fall to its lowest rate since the beginning of the decade.

Oct 9, 2019

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