Ahead of the Reserve Bank of India (RBI) Board meeting today, Congress leader P Chidambaram on Sunday alleged that the central government was determined to “capture” the bank to gain control over its Rs 9 lakh crore reserves.
Reserve Bank of India
Urjit Patel May Resign LIVE Updates: Section 7 of RBI Act Has Not been Invoked
Sources in the ministry of finance told Firstpost that Section 7 of the RBI Act has not been invoked. However, two letters were sent to RBI last month in which “Section 7 was quoted”, highlighting the existence of powers under the Act that allows the government to issue directions to the central bank on “matters of public interest”.
Banks Under RBI PCA Show Mixed Results
Eleven state-run banks under the Reserve Bank of India’s (RBI) prompt corrective action (PCA) framework recorded higher interest income but lower asset quality, a Mint analysis showed, even as differences between the government and central bank over the framework have burst out into the open.
Bad news for SBI customers! SBI halves daily ATM withdrawal on THESE debit cards to Rs 20,000 from 31 October
As per a senior SBI official, the average cash withdrawal from ATMs per card is less than Rs 20,000 and the move will help in checking frauds and promote digital transaction. About a month ago, the State Bank of India (SBI) had alerted its customers holding Classic and Maestro debit cards regarding reduction of cash withdrawal limit to Rs 20,000 a day from ATM starting October 31.
RBI Pause on Interest Rate Hike May Last Only Till December
The minutes of the October policy meet show that RBI’s monetary policy committee members did not tone down their hawkishness or reduce their vigil on inflation when they had recommended a pause.
Rare Gandhi currency collection on display in Dubai
Dubai: Long-time Dubai resident Ram Kumar Tolani, 63, is exhibiting his massive collection of coins and banknotes bearing the image of Mahatma Gandhi to commemorate 150th birth anniversary of India’s ‘Father of the Nation’.
RBI Made Fool – Repo Rate Kept Unchanged – Neal Bhai
The RBI today kept repo rate unchanged at 6.5%. The top management of the RBI will later interact with the media after the announcement of the monetary policy.
RBI Eases Overseas Borrowing Rules For State-Run Oil Marketing Companies – Gold Silver Reports
The Reserve Bank of India (RBI) on Wednesday allowed state-owned oil marketing companies (OMCs) to raise external commercial borrowings (ECBs) from lenders under the automatic route.
यस बैंक पर लगा 38 करोड़ रुपये जुर्माना, दिखा RBI के फैसले का असर – Gold Silver Reports
Gold Silver Reports (GSR) – यस बैंक पर लगा 38 करोड़ रुपये जुर्माना – बैंक ने देश के भीतर धन प्रेषण सेवा के संबंध में नियमों के कथित उल्लंघन को लेकर माल एवं सेवा कर (जीएसटी) विभाग को 38 करोड़ रुपए के जुर्माना भरा है। अधिकारियों ने शुक्रवार को इसकी जानकारी दी। हालांकि बैंक के एक अधिकारी ने बताया कि जुर्माना विरोध के साथ जमा कराया गया है।
Rupee Set to Slide to 75 per Dollar, Say Lenders
India’s trade deficit for August is likely to remain at $17 billion to $18 billion, while the Federal Reserve is set to raise rates again this month, both of which will weigh on the rupee, Philip Wee, a senior currency strategist at DBS, wrote in a note. UBS Securities India Pvt. cut its year-end forecast to 73 from 66, while Scotiabank sees the rupee approaching 74 in the run up to the Fed meeting.