COVID-19 Worst Health, Economic Crisis In Last 100 Years: Shaktikanta Das

[ad_1] RBI Governor Shaktikanta Das delivered the keynote address at the 7th SBI Banking & Economics Conclave COVID-19 is the worst health and economic crisis in last 100 years, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Saturday. “The outbreak of COVID-19 pandemic is unambiguously the worst health and economic crisis in […]

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India Has World’s 5th Largest Foreign Exchange Reserves. How It Helps

[ad_1] India’s current account is likely to remain in surplus in the April-June period India has accumulated the world’s fifth-largest foreign exchange reserves at more than $500 billion, making it a bright spot in an otherwise dismal economy. The reserves were bolstered by a rare current-account surplus in the first quarter, a return of inflows […]

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Over 1,500 Cooperative Banks To Be Brought Under RBI’s Supervision

[ad_1] Cooperative banks have been brought under RBI’s supervision The government on Wednesday announced that all cooperative and multi-state cooperative banks will be brought under the supervision of Reserve Bank of India (RBI). The move which will be effective on 1,540 such banks, is aimed at providing comfort to their depositors, Union Minister Prakash Javadekar […]

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RBI May Need To Choose Between Forex, Bond Interventions In Second Half: Economists

[ad_1] The Reserve Bank of India’s interventions in the foreign exchange market have helped reserves climb to a record $501.7 billion in early June, but economists say the pace of increase is likely to taper in the second half of this fiscal year. The RBI bought a total $45 billion in the foreign exchange market […]

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RBI Sets Up Fund To Boost Digital Payments Infrastructure

[ad_1] The Reserve Bank of India said it will contribute to yearly shortfalls if necessary Mumbai: The Reserve Bank of India (RBI) said on Friday it is creating a Payments Infrastructure Development Fund to push digital payments across the country. The central bank will make an initial contribution of Rs 250 crore covering half the […]

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Interest Waiver During Loan Moratorium Will Affect Banks’ Stability, RBI Tells Supreme Court

[ad_1] “The interestcharged by the banks would form an important source of income,” RBI said. There cannot be an interest waiver during moratorium on term loan repayment as such a move will put the financial health and stability of banks at risk, the Reserve Bank of India (RBI) told the Supreme Court on Wednesday. It […]

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RBI Imposes Rs 4 Crore Penalty On Citibank Over Non-Compliance Of Regulations

[ad_1] RBI has imposed a Rs 5 crore penalty on Citibank The Reserve Bank of India (RBI), in an official release on Friday, said that it has imposed a Rs 4 crore penalty on Citibank for being in violation of the Banking Regulation Act and not not complying to the directions issued by the central […]

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Supreme Court Notice To Centre, RBI On Plea Against Interest Amid Moratorium

[ad_1] Banks should not add interest on the loan amount during the moratorium period, the plea said (File) New Delhi: The Supreme Court on Tuesday asked the Centre and the RBI to respond to a petition challenging levying interest on loans during the moratorium period, which has now been extended by another three months till […]

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More Relief For Borrowers As RBI Extends Moratorium On Loans Till August

[ad_1] Loan Moratorium: RBI on Friday extended the loan moratorium till August In a major relief to borrowers, the Reserve Bank of India (RBI) on Friday extended the moratorium period for the repayment of loans by another three months till August to help them beat the income disruption caused due to the COVID-19 crisis. In […]

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