RBI nods to much frequent NRI remittance
Posted Date : 10-Jun-2012 , 08:06:05 am | Posted By CASANSAAR
The Reserve bank of India (RBI) has permitted NRIs to send remittances more frequently. According to a latest RBI circular released on Friday, resident Indians are now allowed to receive as many as 30 remittances from NRI friends and relatives during a year as against 12 earlier.In the circular addr...
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RBI may slash repo rate by 0.25%: Nomura
Posted Date : 06-Jun-2012 , 08:18:45 am | Posted By CASANSAAR
Global financial services firm Nomura Tuesday said it expects 0.25 percent cut in short term lending rate by the Reserve Bank in its upcoming monetary policy review on June 18."We now expect a 25 basis points repo rate cut on June 18 due to weaker-than-expected real GDP growth of 5.3 percent in Q1 2...
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RBI imposes restrictions on forex dealers as Re breaches 55-mark
Posted Date : 22-May-2012 , 08:32:31 am | Posted By CASANSAAR
The rupee breached the Rs 55 mark to the US dollar amid speculation a state-run company was buying greenback to repay overseas loans, and because of demand for oil imports.The central bank said capital inflows will determine the direction of the rupee and stepped in to arrest volatility in currency ...
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RBI ask banks to reduce exposure to NBFC's giving gold loans
Posted Date : 18-May-2012 , 08:48:31 pm | Posted By CASANSAAR
Worried over a spurt in gold imports, the RBI today asked banks to reduce exposure to NBFCs, which give loan against the precious metal, at the earliest and bring it under the prescribed limit within six months.
"Banks which are currently having exposures to such NBFC's (giving gold loans...
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RBI announces SAARC swap arrangement
Posted Date : 17-May-2012 , 08:04:04 am | Posted By CASANSAAR
The Reserve Bank of India announced that India will offer Swap Arrangement of two billion dollars both in foreign currency and Indian currency. Speaking at the 24th SAARC, Finance Governors meeting in Pokhara on Wednesday, the Governor of RBI, Dr. D. Subbarao made this announcement and said the arra...
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RBI asks exporters to sell 50 pc of forex earnings
Posted Date : 10-May-2012 , 10:21:09 pm | Posted By CASANSAAR
In order to arrest the declining value of the rupee, the Reserve Bank today asked exporters to sell 50 per cent of their retained foreign exchange earning.
The central bank has also fixed limit for intra-day trading of foreign currency by banks.
"On a review of the scheme, it has...
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RBI further eases norms on FX deposits
Posted Date : 09-May-2012 , 10:40:51 pm | Posted By CASANSAAR
The RBI has allowed banks to use funds from foreign currency non-resident deposits as collateral against lending to related local residents.
The funds in the foreign currency non-resident (FCNR) can be used for foreign exchange needs or for working capital needs in rupees for exporters and corpor...
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RBI allows transfer of funds within NRI accounts
Posted Date : 09-May-2012 , 08:35:24 am | Posted By CASANSAAR
The Reserve Bank on Monday allowed non-resident Indians (NRIs) to transfer funds from non-resident ordinary (NRO) account to Non-Resident External (NRE) account subject to a ceiling of $1 million in a financial year.
"On a review, it has been decided that henceforth NRI... shall be eligible...
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RBI issues Basel III norms
Posted Date : 03-May-2012 , 07:57:47 am | Posted By CASANSAAR
The Reserve Bank of India has laid out a six-year road map to make Indian banks safer and avoid recurrence of the 2008 crisis, but it will need an estimated Rs 1.5 lakh crore in capital at a time it is scarce. The central bank has raised the equity component in overall capital and restricted div...
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India's financial system is strong: RBI
Posted Date : 27-Apr-2012 , 07:17:28 am | Posted By CASANSAAR
A day after global credit rating agency, S&P cut India's outlook to negative, the Reserve Bank of India today said the country's financial system is strong, and sometimes these ratings are discounted by the markets.RBI Deputy Governor K. C. Chakrabarty also said the Reserve Bank will intervene i...
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RBI permits all financial institutions to participate in CDS
Posted Date : 24-Apr-2012 , 08:17:19 am | Posted By CASANSAAR
The Reserve Bank on Monday allowed all financial institutions to participate in the credit default swap (CDS) market to help such entities to protect their risk."It has now been decided to permit all India financial institutions, namely, EXIM Bank, NABARD, NHB and SIDBI to participate in the CDS mar...
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RBI cuts repo rate by 50 bps, keeps CRR unchanged
Posted Date : 17-Apr-2012 , 11:40:48 am | Posted By CASANSAAR
India's central bank cut interest rates on Tuesday for the first time in three years by an unexpectedly sharp 50 basis points to give a boost to flagging economic growth but warned that there is limited scope for further rate cuts. The Reserve Bank of India cut its policy repo rate to 8.00 percen...
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RBI may likely cut rates by 25 bps on growth concerns
Posted Date : 14-Apr-2012 , 08:50:36 pm | Posted By CASANSAAR
The RBI may cut the repo rate by 25 basis points as economic recovery continues to remain fragile, say economists.
With factory output growth, as measured by the index of industrial production (IIP), in the April 2011-February 2012 period slowing to 3.5 per cent, against 8.1 per cent in the year-...
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RBI tightens banks' reporting norms to monitor gold import
Posted Date : 04-Apr-2012 , 08:23:51 am | Posted By CASANSAAR
The Reserve Bank on Tuesday tightened the reporting requirements under which banks will have to submit a monthly statement informing the central bank about the quantity of gold imported and mode of payment adopted."It has been decided to further rationalise the entire reporting system on import of g...
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Companies must obtain permission to operate FCA abroad: RBI
Posted Date : 02-Apr-2012 , 10:31:44 pm | Posted By CASANSAAR
The Reserve Bank of India, RBI on Monday said that Indian companies will require to obtain its prior permission to open, hold and maintain foreign currency account -FCA abroad for the purpose of overseas direct investments.The RBI has issued a notification to this effect. According to the notificati...
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RBI relaxes various norms on overseas direct investments
Posted Date : 29-Mar-2012 , 01:33:17 pm | Posted By CASANSAAR
The Reserve Bank of India has relaxed various norms on overseas direct investments to offer more flexibility to the Indian companies and individuals. The RBI said in a notification that proposals from the Indian party for creation of charge in the form of pledge or mortgage on the immovable or movab...
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RBI slams banks on term deposit rates
Posted Date : 27-Mar-2012 , 02:59:01 pm | Posted By CASANSAAR
RBI has asked banks to avoid offering sharply different rates on deposits with similar maturities, saying that something is wrong with lenders if their retail and bulk deposit rates vary too much.
"If it (the difference between retail and bulk deposit rates) varies too much...
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RBI keeps rate unchanged; inflation to guide future action
Posted Date : 15-Mar-2012 , 12:38:35 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today kept key policy rate unchanged and said future policy action would be determined by the movement in inflation. "On the basis of the current macroeconomic assessment, it has been decided to keep the policy repo rate under the liquidity adjustment f...
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RBI cuts CRR by 75 bps to 4.75%
Posted Date : 10-Mar-2012 , 08:05:47 am | Posted By CASANSAAR
The Reserve Bank of India cut the cash reserve ratio, the share of deposits that banks must hold with it, by 75 basis points to 4.75 percent after the close of local markets.
The sharp and accelerated CRR cut upset conventional market wisdom that the RBI's mid-quarter policy review scheduled for ...
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RBI to buy govt securities worth Rs 12,000 cr
Posted Date : 23-Feb-2012 , 07:45:50 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today announced that it would purchase government securities worth Rs 12,000 crore through open market operations (OMOs) on Friday to ease the current liquidity crisis.
"Consistent with the stance of monetary policy and based on the current assessment of pr...
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RBI asks banks to formulate UCI code for customers
Posted Date : 20-Feb-2012 , 08:29:35 am | Posted By CASANSAAR
The Reserve Bank of India has advised banks to consider putting in place unique customer identification (UCI) numbers for customers and filter out multiple banking facilities availed by them through a de-duplication exercise.
Currently, the Reserve Bank guidelines permit the use of Aadhaar ...
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RBI allows non-banking entities to set up ATMs
Posted Date : 15-Feb-2012 , 05:13:59 pm | Posted By CASANSAAR
In a move to accelerate the growth and penetrations of ATMs across the country, the Reserve Bank of India, RBI has issued draft guidelines for permitting non-banking entities to set up, own and operate such money dispensing machines.Non-bank entities proposing to set up such service will have a mini...
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RBI hikes bank rate after nine years to 9.5%
Posted Date : 14-Feb-2012 , 04:18:43 pm | Posted By CASANSAAR
After a gap of nearly nine years, the Reserve Bank has increased the bank rate by 3.50 percentage points to 9.5 per cent with immediate effect. "This (the increase) should be viewed and understood as one-time technical adjustment to align the Bank Rate with the marginal standing facility (MSF)...
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RBI asks banks to refund unclaimed deposits estimated over 1700 crore rupees
Posted Date : 08-Feb-2012 , 08:22:55 am | Posted By CASANSAAR
The Reserve Bank of India, RBI on Tuesday asked banks to locate and refund unclaimed deposits estimated at over 1700 crore rupees. In an instruction to banks, the RBI said that banks in public interest must play a more pro-active role by finding the whereabouts of the account holders of unclaimed de...
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Manappuram Finance cannot accept deposits: RBI
Posted Date : 06-Feb-2012 , 07:52:29 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday cautioned Kerala-based gold-loan company Manappuram Finance Ltd against accepting deposits from the public and threatened to take action if it continued doing so. RBI said acceptance of deposits either by Manappuram Finance or Manappuram Agro Farms (Mag...
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RBI issues fresh directive for banks on home loan
Posted Date : 04-Feb-2012 , 08:22:48 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has asked all commercial banks to refrain from overvaluing houses while providing loans.In a notification issued from Mumbai on Friday, RBI has noticed that some banks include stamp duty, registration and other documentation charges in the cost of the house property, ...
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RBI cuts CRR by 50 bps; interest rates unchanged
Posted Date : 24-Jan-2012 , 11:17:02 am | Posted By CASANSAAR
The Reserve Bank of India in its quarterly review meet on Tuesday cut the cash reserve ratio (CRR) by 50 bps to ease tight liquidity pressure in the banking system. RBI kept repo and reverse repo rates unchanged at 8.5% and 7.5% respectively, despite mounting anxiety over slowdown in growth. The...
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RBI to review its credit policy today
Posted Date : 24-Jan-2012 , 08:20:46 am | Posted By CASANSAAR
Amid slowing economic growth, the Reserve Bank of India (RBI) is reviewing its credit policy on Tuesday. RBI is not expected to cut interest rates at its review as it remains worried about inflation, but it may cut the cash reserve ratio (CRR) for banks as a way to relieve tight liquidity, a move ...
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0 | Hits : 886
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RBI pitches for reforms to contain fiscal deficit
Posted Date : 24-Jan-2012 , 08:14:44 am | Posted By CASANSAAR
The Reserve Bank today pitched for expediting economic reforms including reduction of subsidy and implementation of DTC and GST to contain the fiscal deficit which is expected to exceed the Budget estimate. "Prospectively, improvement in fiscal situation in 2012-13 is not only contingent upon...
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RBI may maintain status quo in its policy review
Posted Date : 22-Jan-2012 , 10:00:31 pm | Posted By CASANSAAR
Overlooking the demand of India Inc to lower interest rates, the Reserve Bank in its policy review may refrain from cutting policy rate as the inflation of manufactured goods is still high.
"I don't see moderation in the interest rate (in the coming policy). CRR (Cash Reserve Ratio) cut I am not ...
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