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Lakshmi Vilas Bank Crisis – All you want to know about

Lakshmi Vilas Bank is the third Bank after the PMC and Yes Bank to be placed under Moratorium in the recent times. The financial position of The Lakshmi Vilas Bank Ltd. (the bank) has undergone a steady decline with the bank incurring continuous losses over the last three years, eroding its net-worth. In absence of any viable strategic plan, declining advances and mounting non-performing assets (NPAs), the losses are expected to continue. The bank has not been able to raise adequate capital to address issues around its negative net-worth and continuing losses. Further, the bank is also experiencing continuous withdrawal of deposits and low levels of liquidity.

FAQ’s – Targeted Long Term Repo Operations (TLTROs)

RBI issued Updated instructions on Targeted Long Term Repo Operations as on 26th October 2020

FAQs on Resolution Framework for Covid-19 related stress

RBI has issued FAQs on Resolution Framework for Covid-19 related stress. These FAQs will help in clarifying the various aspects announced for COVID19 related stress.

The Appointments Committee of the Cabinet (ACC) has approved the appointment of M Rajeshwar Rao as Deputy Governor of the Reserve Bank of India (RBI).

Statement on Developmental and Regulatory Policies

RBI has released the Statement on Developmental and Regulatory Policies as announced in Monetary Policy Review dt 9th Oct 20. The measures are intended to (i) enhance liquidity support for financial markets so as to revive activity in targeted sectors of the economy with linkages to other sectors; (ii) provide a boost to exports; (iii) regulatory support to improve the flow of credit to specific sectors within the ambit of the norms for credit discipline; (iv) deepen financial inclusion; and (v) facilitate ease of doing business by upgrading payment system services so as to improve customer satisfaction, while supporting growth.

Government names 3 new members to RBI monetary panel

The government has finally appointed three economists — PMEAC member Ashima Goyal, NCAER’s Shashanka Bhide and IIM-Ahmedabad professor Jayanth Varma — as new members of the RBI’s monetary policy committee (MPC) to decide on interest rates. Read more at: http://timesofindia.indiatimes.com/articleshow/78503120.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

RBI’s Monetary Policy Statement, 2020-21- Resolution of the Monetary Policy Committee (MPC) October 7-9, 2020; Key Takeaways and Highlights

The Reserve Bank of India Governor Shaktikanta Das announced the policy decision of the Monetary policy committee on 9th October 2020. RBI’s MPC began its three-day deliberations on Wednesday. This was the first meeting of the new MPC which was formed after the appointment of three three eminent economists – Jayant Verma, Ashima Goyal and Shashanka Bhide. The meeting of the six-member MPC, earlier slated for September 29 to October 1, was rescheduled as the appointment of independent members was delayed. The MPC must have a quorum of four.

RBI Releases Revised Priority Sector Lending Guidelines

Reserve Bank of India has comprehensively reviewed the Priority Sector Lending (PSL) Guidelines to align it with emerging national priorities and bring sharper focus on inclusive development, after having wide ranging discussions with all stakeholders.
Revised PSL guidelines will enable better credit penetration to credit deficient areas; increase the lending to small and marginal farmers and weaker sections; boost credit to renewable energy, and health infrastructure.

Opening of Current Accounts by Banks – Need for Discipline- Streamlining the Use of Multiple Operating Accounts by Large Borrowers

The Reserve Bank of India set new conditions for banks to open current accounts for large borrowers in order to strengthen credit discipline. Use of multiple operating accounts by borrowers—both current well as cash/overdraft accounts—has been observed to be prone to vitiating credit discipline, the RBI said its Statement on Developmental and Regulatory Policies on Thursday. “The checks and balances put in place in the extant framework, for opening of current accounts, are found to be inadequate,” it said, adding that the central bank has revised its guidelines to bring in appropriate safeguards. The revised norms are also expected to bring in the requisite discipline in collective actions by creditors for speedier resolution of stress in the accounts of borrowers.

Statement on Developmental and Regulatory Policies

Statement on Developmental and Regulatory Policies sets out various developmental and regulatory policy measures to enhance liquidity support for financial markets and other stakeholders; further easing of financial stress caused by COVID-19 disruptions while strengthening credit discipline; improve the flow of credit; deepen digital payments; augment customer safety in cheque payments; and facilitate innovation across the financial sector by leveraging on technology through an Innovation Hub.

Tag: RBI

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Budget 2025: Top 10 key takeaways from FM Nirmala Sitharaman's speech

Nirmala Sitharaman Budget Speech LIVE -Union Budget 2025

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Budget 2025: Top 10 key takeaways from FM Nirmala Sitharaman's speech

Nirmala Sitharaman Budget Speech LIVE -Union Budget 2025