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%
Tag: RBI
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.
RBI board accepts Jalan committee recommendation. Amid slowing economic growth and rising global uncertainty, the Reserve Bank of India (RBI) board on Monday approved transfer of Rs 1.76 lakh crore surplus reserves to the central government.
Deposit rates of public sector banks are already significantly lower than that of private banks; they may not be able to pass on a rate cut that easily.The latest cut in deposits rates can continue to add pressure on deposit growth for the bank. It could continue relying on its excess SLR investments to fund growth; though the leeway has reduced significantly over the past year.
Banks have been lending only to good quality NBFCs; they may continue to be wary of risky assets.
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…
India’s Central Bank Reserve Bank of India announced on 6th August the IIIrd Bi-Monthly Monetary Policy wherein they announced an array of conventional and unconventional measures to boost slowing economic growth, including reducing the benchmark interest rate by an irregular 35 basis points (bps), its fourth rate cut this year. The Reserve Bank of India’s six-member rate-setting…
The Reserve Bank of India (RBI) on Thursday allowed Bank of China to offer regular banking services in the country.
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…