Money flow into financial savings increased post note ban: Viral Acharya

Post demonetisation, there has been a visible channelising of money towards financial assets like insurance and mutual funds, Reserve Bank of India (RBI) Deputy Governor Viral Acharya said on Saturday.

"It will take us many years to understand the outcome of demonetisation. I sense that in financial assets, something has changed as black money transactions are now not easy,"

RBI sets rupee reference rate at 64.3185 against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 64.3185 against the US dollar and 74.8796 for the euro. The corresponding rates were 64.4273 and 74.1880 yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 83.5369 and 57.53 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quot

RBI to issue Rs 20 denomination notes soon: Reports

The Reserve Bank has said that it will shortly issue bank notes of denomination Rs 20 in Mahatma Gandhi series 2005 that will be similar in design to those currently in circulation. Commenting on the issue, a RBI Official told the media, “The new notes will be bearing inset letter 'S' in the number panel and signature of Governor Urjit R Patel.”

“Both the num

RBI sets rupee reference rate at 64.4273 against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 64.4273 against the US dollar and 74.1880 for the euro. The corresponding rates were 64.3211 and 74.2265 yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 83.9166 and 57.45 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quot

RBI to issue Rs 20 notes with Urjit Patel`s signature

The Reserve Bank of India on Wednesday said it will shortly issue Rs 20 denomination banknotes in the Mahatma Gandhi Series, with the inset letter 'S' in both the number panels. “The design of these banknotes to be issued now is similar in all respects to the 20 banknotes in the same series issued earlier,” RBI notified today. All the banknotes in the denomination of Rs 20 i

RBI sets rupee reference rate at 64.3211 against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 64.3211 against the US dollar and 74.2265 for the euro. The corresponding rates were 64.3301 and 74.1469 yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 83.8554 and 57.43 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quot

FPI holding: Federal Bank under RBI watch

Reserve Bank will monitor foreign shareholding in Federal Bank so that it does not cross the upper limit of 74 per cent, reported PTI. The board of the company has passed a resolution to hike the limit of foreign investment to up to 74 per cent, RBI said. Earlier, foreign investment in Federal Bank was 49 per cent.

"The increase is subject to regulation 5(2) and 5 (2A) of Foreign

RBI not reviewing 90-day NPA classification window: Government

The finance ministry said the Reserve Bank is not examining any proposal to extend the 90-day period for classification of non-performing assets (NPAs) or bad loans to help small businesses, reported PTI. The extant prudential NPA norms were brought in after extensive consultations and were based on the report of the Committee headed by M Narasimham on Banking Sector Reforms, Minister of State

Banks to take hit of Rs 180 bn for 12 loan defaulters

Indian banks need to provide a bare minimum Rs 180 billion additionally towards 12 accounts identified by the Reserve Bank of India (RBI) for reference to the National Company Law Tribunal under the Insolvency and Bankruptcy Code in FY18, estimates India Ratings and Research (Ind-Ra). Ind-Ra’s said that the weighted average provisioning currently at 42 per cent by banks towards the 12 ide

`RBI not considering extension of NPA classification window`

The Reserve Bank of India was not considering extending the bad loan or non-performing assets (NPAs) classification window beyond 90 days, parliament was told on Tuesday.

"Reserve Bank of India has informed that it is not examining any proposal on extending the NPA classification norms from the current 90-day window to help small and medium enterprises," Minister of State fo

IBC: Banks to set aside Rs 18,000-cr in FY18, expect 25% profit dip

Resolution of the 12 large, RBI- identified dud assets under provisions of bankruptcy code will require Rs 18,000-crore additional minimum provisioning and impact banks' profitability by 25 per cent in FY18, India Ratings said as per the PTI report. "Indian banks need to provide a bare minimum Rs 18,000 crore additionally towards the 12 accounts identified by the Reserve Bank of India

RBI sets rupee reference rate at 64.3301 against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 64.3301 against the US dollar and 74.1469 for the euro. The corresponding rates were 64.3666 and 73.6933 yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 84.2917 and 57.39 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quot

All-India House Price Index rises 10.5% in Q4 FY17: RBI

The quarterly House Price Index (HPI) (base 2010-11=100) for January-March period of 2016-17 increased by 10.5 per cent in 10 major cities, according to a data released by the Reserve Bank of India. The Reserve Bank on Monday released the quarterly House Price Index based on transaction data received from housing registration authorities in 10 major cities (viz., Mumbai, Delhi, Chennai, Kolkata

RBI pushes 'Make in India' for currency security features

In a big 'Make in India' push, the Reserve Bank on Monday came out with fresh tender for currency security features, mandating that the supplier set up the manufacturing unit in the country within two years and gradually increase the local content, reported PTI. RBI cancelled two tenders issued earlier for supply of security features and fibre for currency notes in order to incorporate

Can`t make public the names of big defaulters, RBI tells SC

The Reserve Bank of India on Monday told the Supreme Court that it could not make public the identities of the big defaulters of loans as such disclosure could severely impact the businesses.

Telling the bench headed by Chief Justice Jagdish Singh Khehar that disclosing the names of big defaulters could adversely impact the businesses, the RBI said that there were laws that can b

RBI sets rupee reference rate at 64.3666 against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 64.3666 against the US dollar and 73.6933 for the euro. The corresponding rates were 64.4539 and 73.5677, as on July 14,2017. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 84.2173 and 57.12 per 100 yens, respectively, based on reference rates for the dollar and cross-cur

RBI to increase lending to agriculture and small enterprises

As lending to the priority sector is a good business, the Reserve Bank of India is set to revamp the State-Level Bankers' Committees (SLBC) to enable more lending to agriculture and small and micro enterprises, its Deputy Governor S.S. Mundra said. "We are looking at revamping the entire structure of SLBC so that banks can lend more to the priority sector, which has the potential to cr

Rs 8 lakh cr NPAs may face bankruptcy proceedings by Mar 2019: Assocham

Emboldened by the Banking Regulation (Amendment) Ordinance, the RBI is expected to push for resolution bad loans worth around Rs 8 lakh crore by March 2019, a move that could bring down the NPAs and improve the financial health of banks, a study by Assocham said. "So, it should be safe to assume that the non-performing assets (NPAs) mess would largely be resolved by the first quarter of fi

RBI to revamp bankers' panels to boost priority sector lending

As lending to the priority sector is a good business, the Reserve Bank of India is set to revamp the State-Level Bankers' Committees (SLBC) to enable more lending to agriculture and small and micro enterprises, its Deputy Governor S.S. Mundra said on Saturday.

"We are looking at revamping the entire structure of SLBC so that banks can lend more to the priority sector, which h

`Opportune time for RBI to cut key interest rates`

 This is the opportune time for the Reserve Bank of India to cut key interest rates to boost manufacturing and investment which are in the lackluster trajectory, an industry body said on Saturday.

"Despite the significant deceleration in inflation rate, the repo rate is still high and growth of industry and manufacturing sector is in the lackluster trajectory," Gopal Ji

Indian equity markets at new peak on rate cut hopes by RBI

 A plethora of events, such as hopes of a rate cut by the Reserve Bank of India (RBI), fresh inflows of foreign funds and the onset of the quarterly earnings season, pushed the Indian equity markets to a record high during the week ended Friday.

On July 13, the 30-scrip Sensitive Index (Sensex) of the BSE breached the 32,000 points-mark for the first time and registered a record

Action against Essar Steel based on internal panel's advice, RBI tells Gujarat HC

The RBI on Friday told the Gujarat High Court that there was no document supporting its directive to initiate insolvency proceedings against 12 major defaulters, including Essar Steel, but the action was taken on advice of the Internal Advisory Committee.

The Reserve Bank of India's submission came in response to the high court's Thursday directive for placing on record before

RBI sets rupee reference rate at 64.4539 against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 64.4539 against the US dollar and 73.5677 for the euro. The corresponding rates were 64.4384 and 73.7884, yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 83.5451 and 56.90 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quo

Subhash Garg nominated on RBI Central Board

The government has nominated Subhash Chandra Garg, Secretary in the Department of Economic Affairs in the Ministry of Finance, to replace Shaktikanta Das as the Director on the Central Board of Directors of the RBI.

The nomination came into effect from July 12, the Reserve Bank of India said in a statement here on Friday. Das superannuated as the Economic Affairs Secretary on May

Non-exec chairman can be part of banks audit committee: RBI

Reserve Bank of India said the non- executive chairman of a bank can also be nominated to the audit committee of board of directors, reported PTI. Earlier, any one of the non-executive/non-official directors was supposed to chair the audit committee of the board of the directors of a public sector bank. In 2015, the government had bifurcated the posts of chairman and managing directors in Publi