RBI has cut repo rate by a further 25 basis points. This is the fifth straight rate cut as RBI aids government in boosting economy.
Central bank has lowered GDP growth estimate from 6.9% to 6.1%
Category: Banking
The Reserve Bank Friday prescribed a turnaround time (TAT) for banks to settle failed transactions for customers and also notified compensations payable for various types of customer complaints.
The government has asked banks to come up with repo-linked loan products for faster transmission of Reserve Bank’s rate cuts to borrowers.
About a week ago the finance minister, Nirmala Sitharaman announced the consolidation of 10 public sector banks into four mega state-owned ones. Retail customers including account holders of amalgamating banks are likely to get affected.
Finance Minister Nirmala Sitharaman announces 4 mega bank mergers. FM said that the creation of next-generation banks was imperative for India to become a $5 trillion economy in the next five years. The reforms in the banking sector come after the government announced a slew of measures to revive growth in the Indian economy.
The Finance Ministry has taken a note that the Market Share of PSB’s is declining while that of Private Banks is declining and therefore MOF has planned to address the issue of declining share of 18 Public Sector Banks based on the Performance Indicators in certain Key areas. Now onwards Performance indicators will assess how…
Once you know how to read a credit report, you’ll have a better sense of what to look for. We draw your attention to our earlier post on “How long do negative items stay on a report?” wherein we have informed you about: Most negative information generally stays on credit reports for 7 years Bankruptcy stays…
RBI has issued the Statement on Developmental and Regulatory Policies on August 7, 2019. This Statement sets out various developmental and regulatory policy measures in the areas of Financial Markets; Payment and Settlement Systems; Banking Regulation, Financial Inclusion and Credit flow to NBFCs. I. Financial Markets 1. Introduction of stripping/reconstitution facility for State Development Loans…
DG Portfolios Wef 24th July 2019, the distribution of portfolios amongst the Deputy Governors will be as following: Name Departments Shri N.S.Vishwanathan 1. Co-ordination 2. Department of Banking Regulation (DBR) 3. Department of Communication (DoC) 4. Department of Co-operative Banking Regulation (DCBR) 5. Department of Non- Banking Regulation (DNBR) 6. Enforcement Department 7. Financial Markets…
The RBI Governor Shri Shaktikant Das launched “Utkarsh 2022” on 23rd July 2019. It is the Reserve Bank of India’s Medium-term Strategy Framework, in line with the evolving macroeconomic environment, to achieve excellence in the performance of RBI’s mandates and strengthening the trust of citizens and other institutions. A formal strategic management framework was launched in…