RBI may make it mandatory for foreign banks to adopt WOS route
Posted Date : 08-May-2011 , 10:59:01 am | Posted By CASANSAAR
The Reserve Bank is likely to make it mandatory for foreign banks in the country to operate as wholly-owned subsidiaries, in line with the international practice, so that the central bank can have better control over their working.Initially, according to sources, the new banks and the existing ones ...
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Repo to be reference rate for monetary policy: RBI
Posted Date : 03-May-2011 , 11:11:28 am | Posted By CASANSAAR
In line with international practice, the RBI today decided to anchor monetary policy through a single short term lending rate known as repo rate.Unlike in the past, the rate at which the RBI borrows from banks (reverse-repo) will be the benchmarked 100 basis points below the repo rates.Accordi...
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RBI ups repo, reverse repo by 50bps, CRR kept unchanged
Posted Date : 03-May-2011 , 03:41:56 am | Posted By CASANSAAR
In a bid to clamp down on resurgent inflation, the Reserve Bank of India, in its first monetary policy review of 2012, raised repo and reverse repo rates by 50 basis points, thus breaking its calibrated approach.
The cash reserve ratio (amount of funds that banks have to keep with RBI)...
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RBI set to hike rates, loans will cost more
Posted Date : 02-May-2011 , 09:22:19 pm | Posted By CASANSAAR
Loans are expected to get more expensive both for corporates and individuals with Reserve Bank of India hinting that it is willing to sacrifice some growth in order to tame inflation. For markets, banks and economists , it is almost certain that RBI will raise interest rates by a minimum of 25 basis...
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RBI likely to raise policy rates by 25 bps to tame inflation
Posted Date : 01-May-2011 , 11:23:45 am | Posted By CASANSAAR
Faced with stubborn inflation, RBI is likely to raised key policy rates by at least 25 basis points in its annual credit policy for 2011-12 to be announced on Tuesday to arrest the rate of price rise, say bankers."Given the macro economic conditions, it is expected that the RBI would hike rates by a...
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RBI Governor meets Pranab ahead of credit policy
Posted Date : 29-Apr-2011 , 11:16:41 am | Posted By CASANSAAR
Amid concerns over high inflation and the possibility of hike in key policy rates, Reserve Bank governor D Subbarao today called on Finance Minister Pranab Mukherjee to discuss the state of economy ahead of the apex bank's monetary policy next week."As a standard practice I had come to review the ma...
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RBI slaps Rs1.95 cr on 19 banks for flouting derivative norms
Posted Date : 26-Apr-2011 , 11:59:55 am | Posted By CASANSAAR
The Reserve Bank (RBI) today slapped a penalty of Rs1.95 crore on 19 banks, including heavyweights SBI, HDFC Bank, ICICI Bank and Citibank, for violating norms on derivatives, an instrument used to hedge financial risks.
The fine has been imposed on the banks for selling derivative products...
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'RBI may hike key rates by 25 bps to check inflation'
Posted Date : 17-Apr-2011 , 11:14:28 am | Posted By CASANSAAR
With inflation showing no signs of moderation, economists expect the Reserve Bank to hike key policy rates by at least 25 basis points in its annual monetary policy to be unveiled on May 3.
The headline inflation (WPI) stood at 8.98 per cent for March, much above the RBI's projection of 8 per cen...
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Transactions by cheques up 2.5 pc in Feb: RBI
Posted Date : 17-Apr-2011 , 11:13:44 am | Posted By CASANSAAR
Cheque transactions worth over Rs 7.97 lakh crore were carried out in the country during February, 2011, a growth of over 2.5 per cent from the same month last year.
Banks had cleared cheques worth over Rs 7.77 lakh crore in February 2010, as per the latest data from the Reserve Bank.A total of 1,0...
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RBI extends special borrowing facility till 6 May
Posted Date : 09-Apr-2011 , 11:28:13 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday extended its special borrowing facility for banks till 6 May-the sixth time since it was introduced in October. Under the facility banks can borrow up to 1% of their deposits without paying any penal interest if there is a shortfall on their statutory liquid...
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Settlement in US: Satyam yet to get RBI nod for fund-transfer
Posted Date : 09-Apr-2011 , 11:24:04 pm | Posted By CASANSAAR
Mahindra Satyam -- brand identity of Satyam Computer Services Limited -- which recently announced that it had agreed to pay USD 125 million to settle class action suits in USA, is yet to get Reserve Bank's nod to transfer the funds, a senior company official said. "It (RBI) wanted some clarification...
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NBFCs can't be partners in Partnership firms: RBI
Posted Date : 02-Apr-2011 , 08:24:47 am | Posted By CASANSAAR
The Reserve Bank today prohibited Non-Banking Finance Companies (NBFCs) from contributing to the capital of a partnership firm or become a partner of such entities.
The central bank also asked NBFCs, which have already contributed capital or are partner in such firms, to exit from such arrangemen...
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RBI
Posted Date : 26-Mar-2011 , 10:18:59 pm | Posted By CASANSAAR
The finance ministry has opposed the Reserve Bank of India's suggestion to restrict foreign direct investment in new banks to 49%, saying the change in norms will hurt investor sentiment.
It has also asked the central bank to bar real estate firms from seeking ...
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RBI raises key rates by 25 bps to lid prices
Posted Date : 18-Mar-2011 , 10:38:31 am | Posted By CASANSAAR
The Reserve Bank of India raised policy rates for the eighth time in a year by the expected 25 basis points to tackle inflation that is running disproportionately higher with a potential to whittle down the government's cherished 9% economic growth.
Come Ap...
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All banks to have CIOs soon: RBI
Posted Date : 14-Mar-2011 , 12:27:55 pm | Posted By CASANSAAR
Reserve Bank executive director G Gopalakrishna, speaking to reporters on the sidelines of a banking technology conference here, further said the banks will have to implement the facility of "second factor verification" at merchant establishments and ATMs shortly.
...
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RBI defers implementation of guidelines on CEO compensation
Posted Date : 14-Mar-2011 , 08:46:39 am | Posted By CASANSAAR
The Reserve Bank on Wednesday said it has put off implementation of its guidelines on compensation including salary for CEOs and other top executives in private and foreign banks till 2012-13.
The guidelines had been due to be implemented in 2011/12 b...
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