RBI keeps key rates unchanged
Posted Date : 06-Dec-2018 , 08:12:32 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) Wednesday expectedly kept interest rates unchanged but held out a promise to cut them if the upside risks to the inflation do not materialise.
It also coaxed banks to lend more in order to support the slowing economy.
With all the six member of the monetary poli...
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Interest subsidy for MSME sector exporters increased to 5 per cent - RBI
Posted Date : 30-Nov-2018 , 08:31:20 am | Posted By CASANSAAR
To boost MSME sector exports, the Reserve Bank said Thursday the interest subsidy on post and pre-shipment export credit has been increased to 5 per cent from 3 per cent.
The increased subsidy is applicable from November 2.
Exporters get the subsidy under the 'Interest Equalisa...
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RBI reduces minimum holding period for securitisation of loan portfolios
Posted Date : 30-Nov-2018 , 08:21:50 am | Posted By CASANSAAR
To help further ease liquidity condition for non-bank lenders, the Reserve Bank of India has made changes to the holding period for securitised loan portfolios.
In a notification on Thursday, the Reserve Bank of India said that the minimum holding period requirement for non-banking finance compan...
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RBI eases hedging requirements for foreign loans
Posted Date : 27-Nov-2018 , 08:34:27 am | Posted By CASANSAAR
The Reserve Bank of India has decided to ease hedging requirements for medium-term foreign currency borrowings. The move will help bring down the final cost of overseas loans for Indian firms but could leave them more exposed to volatility in the foreign exchange markets.
Medium-term external com...
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CIC asks RBI to divulge list of wilful defaulters in 45 days
Posted Date : 19-Nov-2018 , 11:02:33 am | Posted By CASANSAAR
The Central Information Commission has pulled up the Reserve Bank of India (RBI) for its “anti-RTI (Right to Information) policy” and asked the banking regulator to divulge the list of wilful defaulters of loans within 45 days as ordered by the Supreme Court in its 2015 judgement.
...
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New RBI window may not increase credit to NBFCs
Posted Date : 17-Nov-2018 , 08:41:32 am | Posted By CASANSAAR
The partial credit enhancement (PCE)facility by the Reserve Bank of India's (RBI) for non-bank lenders is unlikely to have the desired impact of increasing credit flow to the troubled sector, a report said Friday.
On November 2, RBI had allowed banks to provide PCE for debt raised by non-depo...
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RBI cancels registration of 65 NBFCs
Posted Date : 16-Nov-2018 , 07:35:35 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today cancelled certificate of registration of 65 NBFCs through two separate notifications for unspecified reasons.
Most of these NBFCs are in Delhi, while a few of them are in Uttar Pradesh and Haryana. While only one each are from Ahmedabad and Coimbatore.
The...
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RBI imposes fine of Rs 3 crore each on Deutsche Bank, J&K Bank
Posted Date : 15-Nov-2018 , 01:09:30 pm | Posted By CASANSAAR
The Reserve Bank said Wednesday it has imposed a penalty of over Rs 3 crore on Deutsche Bank for non-compliance of various norms, including asset classification and KYC.
The RBI also slapped a fine of Rs 3 crore on state-owned Jammu and Kashmir Bank Ltd for violating similar norms.
The R...
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RBI refuses to give info on NPAs, loan defaulters to SEBI
Posted Date : 15-Nov-2018 , 12:45:47 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has declined to pass on information about non-performing assets (NPAs) and loan defaulters that the Securities and Exchange Board of India (Sebi) has asked for in the past year, according to two people with knowledge of the development.
The banking regulator&...
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RBI needs to align capital adequacy norms with Basel III norms
Posted Date : 14-Nov-2018 , 09:01:15 am | Posted By CASANSAAR
The government is of the view that the Reserve Bank should resort to Basel III norms for capital adequacy in banks rather than the present stricter guidelines which restrict the lending capacity of lenders, sources said.
Currently, the RBI applies stricter norms and not those specified unde...
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Govt refuses to yield on Section 7 of RBI Act
Posted Date : 12-Nov-2018 , 12:12:03 pm | Posted By CASANSAAR
Three IRS officers have been appointed as new members in the CBDT, the policy-making body for the Income Tax (I-T) Department.
The officers P K Dash, Akhilesh Ranjan and Neena Kumar, are from the 1982-batch of the Indian Revenue Service (IRS) and have taken charge of their posts in the Central Bo...
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RBI cancels registration of 31 NBFCs, majority from West Bengal
Posted Date : 09-Nov-2018 , 09:53:27 pm | Posted By CASANSAAR
The Reserve Bank of India on Friday cancelled the certificate of registrations of as many as 31 non-banking finance companies (NBFCs) for unspecified reasons.
It also cancelled the certificate of registrations of 17 NBFCs following a request by them for the same. The action comes amid diffi...
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RBI relaxes ECB norms for infrastructure creation
Posted Date : 09-Nov-2018 , 09:21:27 am | Posted By CASANSAAR
The Reserve Bank of India on Wednesday liberalised the norms governing foreign borrowings for infrastructure creation.
The central bank in a notification said that the minimum average maturity requirement for the External Commercial Borrowings, ECBs in the infrastructure space raised by eli...
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RBI slaps Rs 1 crore fine on Fino Payments bank
Posted Date : 06-Nov-2018 , 09:39:07 am | Posted By CASANSAAR
Mumbai-based newly-licenced bank Fino Payments Bank has been slapped a fine of Rs 1 crore by the central bank, said the Reserve Bank of India in a press note on its website on Wednesday.
“The Reserve Bank of India (RBI) has, on October 31, 2018, imposed a monetary penalty of Rs 1 cror...
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RBI kick-starts process to set up PCR for capturing details of borrowers
Posted Date : 04-Nov-2018 , 10:43:03 pm | Posted By CASANSAAR
The Reserve Bank has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies.
The PCR will also include data from entities like mar...
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RBI board to meet on 19 November to discuss key issues
Posted Date : 01-Nov-2018 , 09:32:39 am | Posted By CASANSAAR
The RBI’s Central Board, headed by Governor Urjit Patel, is scheduled to meet in Mumbai on 19 November , sources said amid reported rift between the government and the central bank over certain key issues.
Sources said it is a pre-scheduled and routine meeting of the central board of the RB...
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RBI allows banks for fire audit of currency chests
Posted Date : 30-Oct-2018 , 09:57:24 am | Posted By CASANSAAR
The Reserve Bank has relaxed norms for the fire audit of currency chests allowing banks to get it done from approved agencies in case of shortage of staff at district fire offices.Banks maintaining currency chests are required to get fire audit done once in a two years.
In a recent notifica...
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RBI employees association seek central bank's autonomy
Posted Date : 30-Oct-2018 , 09:10:55 am | Posted By CASANSAAR
All India Reserve Bank Employees Association (AIRBEA) Monday expressed concern over the recent statements made by deputy governor Viral Acharya and sought autonomy of the apex bank.
The association said in a statement on Monday that "Undermining the country's central bank was a recipe fo...
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RBI rejects Gov's proposal to ease PCA norms for banks
Posted Date : 26-Oct-2018 , 09:43:37 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has pushed back suggestions by the government nominees at its board meeting on Wednesday to ease the so-called Prompt Corrective Action (PCA) norms for banks. The regulator argued that the move had already improved the financial health of some of the lenders under str...
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RBI cancels licences of 31 NBFCs
Posted Date : 24-Oct-2018 , 07:39:53 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has cancelled the Certificate of Registration of 31 non-banking financial companies (NBFCs).
The move comes days after the central bank eased liquidity norms for banks in order to release additional funding for NBFCs.
NBFCs have been under pressure...
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RBI issues guidelines to facilitate payments among PPI
Posted Date : 17-Oct-2018 , 06:04:41 pm | Posted By CASANSAAR
In a move aimed at promoting digital transactions, the Reserve Bank of India (RBI) has released operational guidelines to facilitate payments among prepaid instruments (PPI) such as mobile wallets.
The guidelines, released yesterday, elaborate on requirements for achieving inter-operability for m...
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RBI maintains status quo, repo rate unchanged at 6.5%
Posted Date : 05-Oct-2018 , 06:16:12 pm | Posted By CASANSAAR
In a complete contrast to market and expert expectations, Reserve Bank has maintained status quo on all key policy rates in the fourth bi-monthly monetary policy review announced this afternoon. The six member monetary policy committee, MPC headed by Governor Urjit Patel decided to keep the policy r...
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RBI imposes penalty on Federal Bank for non-compliance of certain directions
Posted Date : 04-Oct-2018 , 08:13:25 am | Posted By CASANSAAR
Reserve Bank has imposed a penalty of five crore rupees on Federal Bank for non-compliance of certain RBI directions among other deficiencies. In a press release issued yesterday, RBI said Federal Bank had failed to report large borrower exposure for assessment under risk-based supervision.
...
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RBI to infuse Rs.36,000 Cr to ease liquidity
Posted Date : 02-Oct-2018 , 03:12:54 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has decided to infuse Rs. 36,000 through open market purchase of bonds in October as liquidity has tightened due to an uptick in loan demand in the festive season.
“Based on an assessment of the durable liquidity needs going forward and the seasonal growth in...
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RBI eases cash reserve rules to ease liquidity
Posted Date : 28-Sep-2018 , 08:21:23 am | Posted By CASANSAAR
The Reserve Bank of India Thursday allowed banks to dip further into statutory cash reserves in a bid to ease a liquidity squeeze afflicting the nation's money markets.
RBI in a statement said banks could 'carve out' up to 15 per cent of holdings under the statutory liquidity reserves...
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RBI slaps Rs 1 Cr fine each on UBI, BoI, BoM for delay in fraud detection
Posted Date : 08-Sep-2018 , 09:45:02 am | Posted By CASANSAAR
The Reserve Bank has imposed a total penalty of Rs 3 crore on three state-run banks of Union Bank of India, Bank of India and Bank of Maharashtra for delay in detection and reporting of fraud in some accounts.
The central bank in three separate releases Friday said it has imposed a penalty ...
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RBI deadline over, 20 new NPA accounts to go to NCLT
Posted Date : 29-Aug-2018 , 08:58:01 am | Posted By CASANSAAR
As the deadline set by the Reserve Bank of India (RBI) for resolution of stressed assets ended Monday, lenders have decided to refer 20 of at least 32 NPA accounts to bankruptcy courts, according to two bankers aware of the matter. For the remaining 12 NPA accounts, lenders will either restructure t...
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New RBI unit to track blockchain and Artificial Intelligence
Posted Date : 28-Aug-2018 , 08:25:41 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has formed a new unit within the central bank to beef up its own intellectual capital in the face of emerging technologies like cryptocurrency, blockchain and artificial intelligence.
This new unit will research and possibly draft rules and supervise new emer...
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60 stressed loan accounts worth Rs3 lakh crore under RBI scanner
Posted Date : 27-Aug-2018 , 07:55:13 am | Posted By CASANSAAR
As RBI’s August 27 deadline to resolve large stressed assets looms large, the Indian banking system is all set to face another round of insolvency proceedings.
As per a circular issued on February 12, the RBI asked banks to begin the resolution of stressed loans at the earliest when there i...
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RBI staff to go on mass leave on Sept 4, 5 over pension issues
Posted Date : 20-Aug-2018 , 09:06:38 pm | Posted By CASANSAAR
The United Forum of Reserve Bank Officers and Employees today said its members will go on mass casual leave on September 4 and 5, pressing their long-pending demands over pension related issues.
According to a press release, United Forum today held a silent demonstration near the RBI office here ...
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