Complete waiver of compound interest will destabilise broader financial stability, says central bank The Reserve Bank of India (RBI) has told the Supreme Court that the Centre’s resolve to shoulder the cost of ‘interest on interest’ for MSME loans and personal loans up to ₹2 crore addresses pandemic-induced financial distress Read more…
RBI Governor Shaktikanta Das’ comments on expectation of GDP turning positive in the January-March quarter of the current financial year also fuelled the market rally, traders said. Equity benchmark index Sensex rallied 327 points on Friday, extending gains for the seventh straight session on the back of financial stocks after Read more…
The RBI has kept the retail inflation target of 4 % with a bias of plus/minus 2 %. RBI Governor Shaktikanta Das on Friday said retail inflation is expected to remain close to the targeted level by the last quarter of the current fiscal year. However, it is likely to Read more…
With revision in the risk weightage, the requirement of capital provision for banks will come down encouraging banks to push housing loan products with attractive features. In order to promote the housing sector, the Reserve Bank of India on Friday decided to rationalise risk weightage on housing loans, making the Read more…
The NEFT system was made available on a 24x7x365 basis since December 2019. In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Read more…
Indian economy is entering into a decisive phase in the fight against coronavirus, says Shaktikanta Das The Reserve Bank of India on Friday said the economy is likely to contract by 9.5 per cent in the current fiscal. GDP contracted 23.9% in the first quarter of the fiscal, as per Read more…
The central bank announces a series of measures to enhance liquidity support to financial markets. The monetary policy committee of the Reserve Bank of India has unanimously decided to keep the key lending rates unchanged, Governor Shaktikanta Das said on Friday. The MPC voted unanimously to leave the policy repo Read more…
Markets regulator Sebi on Tuesday decided to make mutual fund managers more accountable by introducing a code of conduct for them and tightened disclosure norms with regard to forensic audit of listed entities. The watchdog also decided to strengthen the role of debenture trustees and amend insider trading norms. The Read more…
NEW DELHI: A group of lenders, including the National Bank for Agriculture and Rural Development (Nabard), has given clean chit to Reliance Commercial Finance Ltd (RCFL), the NBFC arm of Reliance Capital, after an independent forensic audit report from Grant Thornton did not detect any fraud in the RCFL account. Read more…
Mumbai: Amid the ongoing economic woes created by the coronavirus pandemic, the Reserve Bank has decided to extend by six months the enhanced borrowing facility provided to banks to meet liquidity shortage till March 31, 2021. The RBI, as a temporary measure, had increased the borrowing limit for scheduled banks Read more…