Reserve Bank of India
RBI bids for Air India's iconic Nariman Point tower
Tue, Apr 16, 2019
Reserve Bank of India (RBI) has tossed its hat in the ring for the taking over of Air Indias iconic tower at Nariman Point in Mumbai. The central bank is learnt to have offered 10 years` lease rental as advance payment, a top reliable source told IANS.
More >
Focus should be on 7% GDP growth: Uday Kotak
Sat, Apr 13, 2019
Uday Kotak, vice chairman and managing director, Kotak Mahindra Bank said that the policy rate should be reduced by the Reserve Bank of India (RBI). He added that the focus should be on achieving GDP growth at the rate of 7 percent. Watch this video to know more.
More >
Reserve Bank injected Rs 2.98 lakh crore liquidity in market in 2018-19
Thu, Apr 11, 2019
Currency in circulation expanded sharply in February-March. The liquidity needs of the system were met through injection of durable liquidity amounting to Rs 37,500 crore in February and Rs 25,000 crore in March through open market purchase operations (OMOs).
More >
SBI cuts loan rates by 5 bps: 5 things you must know
Wed, Apr 10, 2019
Country's largest public sector lender State Bank of India has followed its smaller peers to cut the lending rates by 5 basis points across all tenors with effect from April 10. This is the bank's first rate cut announcement since November 2017.
More >
Banks reduce interest on home, auto loans post-RBI cut
Tue, Apr 09, 2019
Within days of the Reserve Bank of India (RBI) lowering its key lending rate, state-run State Bank of India (SBI) on Tuesday reduced its benchmark marginal cost of funds based lending rate (MCLR) and home loan rates, effective from April 10.
More >
Zero Balance Account: Here are some dos and don'ts if you have Basic Savings Bank Deposit (BSBD) Account
Tue, Apr 09, 2019
BSBDA customer cannot have any other savings bank account in the same bank. If 'Basic Savings Bank Deposit Account’ is opened on the basis of simplified KYC norms, the account would additionally be treated as a 'Small Account' and would be subject to conditions stipulated for KYC norms / AML standards / Combating of Financing of Terrorism (CFT) / Obligation of banks.
More >
New RBI guidelines for currency chests: Processing capacity of 6.60 lakh banknotes per day, CBL of at least Rs 1000 cr
Tue, Apr 09, 2019
The Reserve Bank of India on Monday issued fresh guidelines or banks to set up new currency chests. As per the new guidelines, the area of the room or vault should be at least 1500 sq. ft. In case of hilly/ inaccessible places, the area of the strong room or vault should be at least 600 sq. ft.
More >
Bank account opening problem? Do not let it stop you, check out 'Small Account'
Tue, Apr 09, 2019
A person can open a "Small Account" on the basis of a self-attested photograph and putting his/her signatures or thumbprint in the presence of an official of the bank. It is reiterated that while opening accounts based on Aadhaar also, banks must satisfy themselves about the correct address of the customer by obtaining required proof of the same as per extant instructions.
More >
Supreme Court 'February 12' Circular Ruling Impact: It does not disturb creditors' rights to insolvency proceedings, says Sahoo
Sun, Apr 07, 2019
Sahoo said the court's judgement does not disturb rights of creditors to initiate insolvency proceeding or any provision in the Insolvency and Bankruptcy Code (IBC).
More >
Jalan panel norms to apply to current, future RBI reserves
Fri, Apr 05, 2019
A senior Finance Ministry source said that the central bank's profit distribution policy as suggested by the Jalan committee report, if accepted, will be applicable on the current as well as future surplus reserves of the RBI.
More >
