Micro, Small and Medium Enterprises (MSMEs) form an important component of the Indian economy and contribute significantly to the country’s GDP, exports, industrial output, employment generation, etc. Considering the importance of MSMEs in the Indian economy, it is considered necessary at this juncture to take certain measures for creating an enabling environment for the sector.…
ESAF small finance bank which received the first banking license in Kerala since independence has got RBI approval to operate as scheduled bank.
System-wide gross non-performing assets of banks rose to 11.2 percent or at Rs 10.39 trillion in FY18 from 9.3 percent a year ago, and the share of public sector banks stood at Rs 8.95 trillion, or at 14.6 percent, according to the Reserve Bank data released Friday.
Niti Aayog Vice-Chairman Rajiv Kumar on Tuesday said the central bank’s institutional capabilities are ‘very strong’ and it will do whatever is required for the markets and economy.
The Indian government must heed the RBI’s message on financial stability, IMF’s Chief Economist Maurice Obstfeld has said, amidst reports of friction between the central bank and the finance ministry over several issues, including how much capital the apex bank needs.
The Monetary Policy Committee of RBI on 5th December 2018 reviewed the monetary policy and kept the repo rate unchanged at 6.50 per cent in its fifth bi-monthly monetary policy decision of FY19 on Wednesday. The reverse repo rate, also remained unchanged at 6.25 per cent. However, it announced statutory liquidity ratio (SLR) will go down by…
“Value of rupee is determined by the market forces”.On a day the rupee breached the 74-mark against the US dollar for the first time, RBI Governor Urjit Patel said Friday that the domestic currency is still better than its emerging market peers. He maintained that the value of rupee is determined by the market forces and the RBI does not have any “target or band” around any particular level of the exchange rate.
Even as the RBI has held its repo rate, banks are likely to take cues from the bond markets, where yields are likely to inch up