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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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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Small savings interest rates will remain fixed: RBI
Posted Date : 21-Jan-2012 , 08:33:05 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has clarified that interest rates on small savings schemes, except the PPF, will remain fixed throughout the term of schemes. In a circular, RBI said interest rate for small savings will be declared on April 1 every year and will remain valid till the maturity of the ...
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RBI sets pay guidelines for executives in private banks
Posted Date : 14-Jan-2012 , 07:41:01 am | Posted By CASANSAAR
The Reserve Bank of India has laid down guidelines for compensation of executives at private and foreign banks aimed at preventing greed from destabilising the institution, with provisions to clawback pay if transactions fail years after origination. The guidelines based on the recommendation...
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RBI notifies change in single brand retail FDI policy
Posted Date : 13-Jan-2012 , 09:07:43 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today operationalised the change in FDI policy by removing restrictions on foreign investment limit in single brand retail.
"...it has now been decided that FDI up to 100% would be permitted in single brand product trading under the government route......
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RBI cracks the whip on overseas banks
Posted Date : 12-Jan-2012 , 08:33:14 am | Posted By CASANSAAR
The regulator said these transactions are partly responsible for sharp depreciation in the rupee against the dollar.
The Reserve Bank of India (RBI) has cracked the whip on some of the large foreign banks in the country for encouraging companies to participate in speculative trades in the...
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RBI for greater role of CAs in ensuring solvency of banks
Posted Date : 10-Jan-2012 , 09:22:51 am | Posted By CASANSAAR
Seeking to enhance role of auditors in ensuring solvency of banks, the Reserve Bank of India wants chartered accountants to ask pointed questions concerning risk assessment and capital adequacy of lenders. "Auditors will need to move beyond narrow transactions audit consideration to look at t...
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RBI cautions investors against illegal finance companies
Posted Date : 08-Jan-2012 , 07:43:55 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) Saturday asked people not to deposit their hard earned money in unauthorised non-banking financial companies (NBFCs) and institutions in the hope of getting hefty returns. "Please do not fall into the trap of hefty returns in quick succession," said RBI executive d...
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RBI cancels licence of Veershaiva Co-operative Bank
Posted Date : 06-Jan-2012 , 04:35:11 pm | Posted By CASANSAAR
The Reserve Bank has cancelled the licence of city-based Veershaiva Co-operative Bank, as the lender has become insolvent. "In view of the fact that Veershaiva Co-operative Bank Ltd, Mumbai (Maharashtra), had ceased to be solvent... the Reserve Bank of India delivered the order cancelling it...
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RBI raises Foreign Currency Convertible Bonds limit to $750 mn
Posted Date : 06-Jan-2012 , 08:29:51 am | Posted By CASANSAAR
RBI raised the annual limit of Foreign Currency Convertible Bonds (FCCBs) for companies to USD 750 million under the automatic route, which does not require prior permission from it. The limit, up from USD 500 million in a fiscal year, will not only help Indian corporate across all segments...
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Meeting cos
Posted Date : 06-Jan-2012 , 08:18:42 am | Posted By CASANSAAR
Reserve Bank of India (RBI) deputy governor Subir Gokarn on Thursday said it was important to ensure that companies could meet their forex obligations. From a policy perspective, he stressed that liquidity rather than cost was the issue.
“We are looking at ways to make sure the flow...
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RBI governor D Subbarao hints at soft monetary policy
Posted Date : 02-Jan-2012 , 08:27:55 pm | Posted By CASANSAAR
Concerned over the declining growth, Reserve Bank Governor D Subbarao has indicated that the central bank could reverse the tight monetary stance adopted by it since March 2010 to tame inflation. "From here on we could expect reversal of monetary tightening," Subbarao told the BBC in an interview...
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RBI unveils draft Basel III capital norms for banks
Posted Date : 31-Dec-2011 , 08:10:02 am | Posted By CASANSAAR
The RBI says Tier 1 capital comprising pure equity and statutory and capital reserves must be at least 7 per cent and total capital must be at least 9 per cent of risk-weighted assets (RWAs).
In order to strengthen risk management mechanism, the Reserve Bank today issued draft guideline envisagin...
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RBI allows co-op banks to fix NRE deposit rates
Posted Date : 29-Dec-2011 , 09:03:43 am | Posted By CASANSAAR
The Reserve Bank today allowed cooperative and primary urban cooperative banks to fix their interest rates on various non-resident deposit schemes.Extending the ambit of its recent decision to deregulate deposit rates, RBI said, "Banks are free to determine their interest rates on both savings d...
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Don
Posted Date : 28-Dec-2011 , 12:31:53 pm | Posted By CASANSAAR
The Reserve Bank of India, RBI, has cautioned the public against falling prey to fictitious offers of cheap funds that are rampant in recent times.In a press statement at Guwahati, the RBI said, the fraudsters often lure the public in the form of lottery prize money through letters, e-mails, SMS etc...
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RBI to buy Rs 12,000 cr worth govt securities
Posted Date : 28-Dec-2011 , 09:00:47 am | Posted By CASANSAAR
To tide over the current liquidity crisis, the Reserve Bank today announced it will purchase government securities worth Rs 12,000 crore on Thursday through open market operations. "Consistent with the stance of monetary policy and based on the current assessment of prevailing and evolving liquid...
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Spike in bad loans worries RBI
Posted Date : 23-Dec-2011 , 08:30:46 am | Posted By CASANSAAR
Bad loan growth in Indian banks this year has been over thrice the average growth in the preceding five years. While most bad loans are in retail, priority sector and infrastructure, RBI is worried about the power sector which is going through a high level of stress.&nb...
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RBI penalises 19 banks for flouting derivative norms
Posted Date : 21-Dec-2011 , 08:17:33 am | Posted By CASANSAAR
The Reserve Bank has imposed penalties on 19 commercial banks, including SBI, HDFC Bank, ICICI Bank and Citibank, for violating norms on derivatives, Parliament was informed. RBI has informed that they had imposed penalties on 19 commercial banks on April 26, 2011, for contravention of various...
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RBI allows MFIs to raise $10 mn through ECBs
Posted Date : 20-Dec-2011 , 08:06:30 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today allowed microfinance institutions (MFIs) to raise up to $10 million through external commercial borrowings (ECBs), as against the earlier limit of $5 million, a move that will widen their fund raising sources.
"Considering the specific needs of the mi...
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RBI steps in as rupee tumbles
Posted Date : 16-Dec-2011 , 07:56:04 am | Posted By CASANSAAR
The Reserve Bank today swung into action to check slide in rupee value against dollar and speculations. It has imposed restrictions with immediate effect on forward trading in the local currency by Foreign Institutional Investors and traders and capped banks exposure to the forex market.The Reserve ...
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RBI panel to discuss raising of capital by urban co-op banks
Posted Date : 14-Dec-2011 , 07:56:51 am | Posted By CASANSAAR
The issue of getting a level-playing field for urban co-operative banks vis-à-vis commercial banks with regard to raising capital and lowering the threshold for statutory investments will be taken up at a meeting of the Reserve Bank of India's standing advisory committee next week.
Current...
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RBI caps bank equity investments in non-core business
Posted Date : 13-Dec-2011 , 07:47:03 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday for the first time imposed a cap on banks' direct or indirect equity investments in non-financial service companies, seeking to make banks focus more on their core business. The rules cap equity investments by banks in a non-financial services entity at ...
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RBI starts a new lender clan
Posted Date : 03-Dec-2011 , 08:41:31 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has put out guidelines for a new category of non-banking finance companies (NBFCs), which would be involved only in micro lending.
NBFCs which have minimum net owned funds of up to `5 crore and over 85% of their net assets in the nature of ‘qualifying assets&...
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Do not to process over 3-month old cheques: RBI
Posted Date : 02-Dec-2011 , 06:32:07 pm | Posted By CASANSAAR
The Reserve Bank of India on Friday directed primary urban cooperative banks not to make payments on cheques and other financial instruments that are over three months old, with effect from April next year. "RBI directs that with effect from April 1, 2012, banks should not make payment of chequ...
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RBI hikes Interest Rates on NRE and FCNR(B) Deposits
Posted Date : 24-Nov-2011 , 08:51:02 am | Posted By CASANSAAR
Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
In view of the prevailing market conditions, it has been decided that until further notice and with effect from close of business in India as on November 23, 2011, the interest rates on Non- Resident (Ext...
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RBI allows banks, NBFCs to set up infra debt funds
Posted Date : 22-Nov-2011 , 08:28:50 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday issued guidelines to allow banks and non-banking financial companies (NBFCs) to sponsor infrastructure debt funds (IDFs), to support long-term finance in infrastructure. The same are based on the parameters RBI had issued in September. IDFs may be set up e...
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RBI to buy Rs 10k crore bonds to ease pressure on rates
Posted Date : 17-Nov-2011 , 08:23:10 am | Posted By CASANSAAR
The Reserve Bank of India said it will buy government bonds worth 10,000 crore from investors for the first time this fiscal, aiming to ease pressure on interest rates after three of the four bond sales this quarter did not have enough takers at the specified price.The move to ease the pressure o...
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RBI cautions on rising NPAs from infra sector
Posted Date : 15-Nov-2011 , 08:25:10 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday raised concerns on rising bad loans of Indian banks, especially money given to infrastructure, retail and real estate companies, and said banks are likely to feel more pain from such loans in a high interest rate scenario unless they take “due care&r...
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Global banking system is fraught with uncertainties: RBI
Posted Date : 14-Nov-2011 , 09:45:02 pm | Posted By CASANSAAR
The Reserve Bank today said the global banking system is fraught with many uncertainties due to the ongoing sovereign debt crisis in Eurozone and asked for concerted action from both the developed and the emerging economies ...
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