Tag Archives: RBI

Urjit Patel: An RBI governor who doesn’t talk but acts

Raghuram Rajan had taken over as governor of the central bank in the world’s fastest-growing major economy in the thick of the taper tantrum in September 2013 when the local currency was depreciating every day against the dollar and inflation was in double digits. His predecessor D Subbarao had witnessed the collapse of iconic US investment bank Lehman Brothers a ... Read More »

99% Of Banned 1000, 500 Rupee Notes Returned, Says RBI

The Reserve Bank of India (RBI) in its annual report released today revealed that about 99 per cent of the banned 500- and 1,000-rupee currency notes returned. According to RBI estimates, a total of Rs. 15.28 lakh crore in banned 500- and 1,000-rupee currency notes were returned by June 30, 2017, out of the estimated Rs. 15.44 lakh crore in ... Read More »

Raghuram Rajan Pens Book On RBI Stint In ‘Turbulent Times’

New Delhi: Raghuram Rajan explains economic concepts and talks of issues like tolerance and connection between political freedom and prosperity in his new book, which is a collection of essays and speeches during his stint as RBI head. When Rajan took charge as governor of the Reserve Bank of India in September 2013, the rupee was in free fall, inflation ... Read More »

RBI Move On Insolvency Proceedings Credit Positive: Moody’s

New Delhi: Moody’s Investors Service on Monday said the initiation of insolvency proceedings on 12 large loan defaulters is credit positive for Indian banks as it will improve their overall asset quality. The Reserve Bank last week said it has identified 12 large loan defaulters who account for 25 per cent of the total NPAs or bad loans in the ... Read More »

RBI Governor Cited ‘High Uncertainty’ On Inflation For June 7 Policy Review

  Mumbai: Reserve Bank of India Governor Urjit Patel cited “high uncertainty” on inflation while holding the key interest rate for a fourth successive policy review, according to minutes of the June 7 meeting of Monetary Policy Committee released on Wednesday. It was the first time that a Monetary Policy Committee (MPC) member had voted against the majority decision. At ... Read More »

ICICI, Axis, SBI Gain, RBI To Get Power To Act Against Loan Defaulters

Shares of public and private sector lenders were witnessing good buying interest in trade today a day after the Union Cabinet empowered the Reserve Bank of India (RBI) to act against wilful defaulters. The Union Cabinet cleared an ordinance empowering the Reserve Bank of India (RBI) to act against wilful defaulters. The ordinance has been sent to the president for ... Read More »

RBI may go for status quo in Aug 9 meet: DBS

The Reserve Bank of India may keep the key interest rates on hold in the upcoming policy meet as inflation for the second quarter has hastened to 5.7 per cent and July-August prints may also stay high. According to the global financial services major, the room for further easing by the Reserve Bank is dependent on the inflation path and ... Read More »

RBI on-tap bank licence: Draft guidelines NBFCs, individuals, groups with finance biz can be eligible

Setting the stage for the entry of more private sector players into the banking system, the Reserve Bank of India (RBI) has allowed individual promoters, non-banking finance companies and business groups predominantly into the financial sector to apply for on-tap bank licences. However, RBI has proposed that large industrial groups in the manufacturing sector will be excluded and they will ... Read More »

RBI allows foreign investors to buy up to 49% in Ponni Sugars

Reserve Bank has allowed foreign investors to invest up to 49 percent of the paid-up capital in Ponni Sugars (Erode) Ltd. Foreign Institutional Investors/Registered Foreign Portfolios Investors/Qualified Foreign Investors/Non Residential Indians)/Person of Indian Origin can now invest up to 49 per cent of the paid up capital of Ponni Sugars Erode Limited under the Portfolio Investment Scheme (PIS). RBI said ... Read More »