The Reserve Bank of India (RBI) is on alert after the National Investigation Agency (NIA) found fake currency notes in circulation.
Tag: RBI
RBI stops printing Rs 2,000 denomination notes
The Reserve Bank’s central board on Friday discussed in detail the regulatory and supervisory architecture of commercial and cooperative banks against the backdrop of Rs 4,500 crore scam at the PMC Bank.
RBI has asked all cooperative banks to replace the existing system of email-based reporting.
Reserve Bank of India (RBI) released the report titled “State Finances: A Study of Budgets of 2019-20”, an annual publication that provides information, analysis and an assessment of the finances of state governments. With several states facing state elections this summer, presentation of their final budgets was delayed till July-September 2019. This year’s Report analyses the underlying dynamics of budget estimates (BE) for 2019-20 against the backdrop of actual for 2017-18 and revised (and provisional accounts) outcomes for 2018-19. The Report addresses the theme of “Debt: States’ Medium Term Fiscal Challenges”. A time-series data published in State Finance Reports from 1990-91 is also released along with this Report.
Statement on Developmental and Regulatory Policies released by RBI on 4th October sets out various developmental and regulatory policy measures for strengthening regulation and supervision; broadening and deepening financial markets; and improving the payment and settlement systems.
The repo rate was cut by 135bps so far in CY19. The last time the repo rate saw such a large cumulative cut in a year, was in 2009.
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%
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.