We hope that the limit for senior citizens is further enhanced in the years to come.

Policy addresses concerns of slowing growth

Business Standard

The Reserve Bank of India (RBI) positively surprised the debt market by announcing a 25 basis point cut in reverse repo rate and repo rate. This rate cut, along with the promise of maintaining conducive rate environment, augurs well for the soft interest rate regime going forward.

Central bank surprises debt market

Your savings bank account can earn you more interest now. The Reserve Bank of India (RBI) has issued a directive in its policy document that will change the way interest is paid on the minimum amount present in a savings bank account each day.

Your savings a/c will earn daily interest

In a bid to make the pricing of credit by various commercial banks more transparent, the Reserve Bank of India (RBI) today said that a working group would be constituted to review the present benchmark prime lending rate (BPLR) system and suggest requisite changes.

RBI to review benchmark PLR structure

Citing the current global financial turmoil and concerns regarding the financial strength of banks around the world, the Reserve Bank of India (RBI) has decided to leave unchanged its policy on presence of foreign banks in the country.

Central bank puts off policy on foreign banks&#39; presence

The Reserve Bank of India (RBI) today allowed all scheduled commercial banks to set up offsite ATMs without prior approval of the regulator.

Banks can set up offsite ATMs sans approval

The Reserve Bank of India (RBI) has deferred the implementation of CRAR (capital-to-risk-assets ratio) requirements for systemically important non-deposit taking non-banking financial companies (NBFCs-ND-SI) by a year.

NBFCs get more time to meet higher capital adequacy norms

Extending the host of measures taken to support economic growth, the RBI lowered the repo and reverse repo rate by 25 bps. Having said that, the comprehensiveness and the clarity imbibed in the policy statement was well appreciated by the market participants.

Monetary impetus to growth continues

The bigger issue is that banks are not lending enough to the private sector but are parking their surpluses with RBI and, consequently, the credit off-take continues to be low.

Signalling lower interest rates

The Reserve Bank of India's (RBI) annual monetary policy for 2009-10 has outlined several prudential measures for strengthening the health of banks in troubled times.

RBI proposes prudential norms to wade through troubled times

The Reserve Bank of India (RBI) today warned that banks, which engaged in sponsoring and managing private pools of capital, were prone to high risk.

Banks warned on managing private pools of capital

In order to enable over-the-counter (OTC) settlements in corporate bonds on a real time basis, the Reserve Bank of India (RBI) today decided to allow the clearing houses of the exchanges to have a transitory pooling account facility with the central bank.

Push for OTC corporate bond deals

These are extraordinary times, presenting exceptional challenges and seeking unexpected policy measures. Clearly, the global financial crisis and the follow-on economic downturn has been wider, deeper and longer than anticipated. The India growth story has resultantly suffered.

Further easing of rates warranted

The RBI&rsquo;s credit policy has sent clear signals that growth and financial stability are centre stage and that the policy favours a lower interest rate regime.

Apex bank still wary of inflation

There is no doubt that deft and timely policy measures taken by RBI have cushioned the economy from the ongoing global financial turmoil. Today&rsquo;s 25 bps cut in rates is in line with its policy to support growth.

BS JURY

The market approached the monetary policy with a positive note and bullish undertone. All markets &ndash; money market, foreign exchange, stocks and commodity &ndash; have reversed their bearish stance (post-January 2009 policy) and exhibited signs of stability.

RBI sets sights on growth momentum

Bonds gained, pushing 10-year yields to the lowest level in more than six weeks, after the central bank cut interest rates for a third time this year.

Bond yields drop to six-week low

With comfortable liquidity conditions and soft lending rates, banks have had very few occasions to use the Reserve Bank of India&rsquo;s (RBI&rsquo;s) refinance window for providing funding support to mutual funds (MFs), housing finance companies (HFCs) and exporters.

Low usage leads to extension of special funding facilities

Central bank cites near-zero inflation rate, ample liquidity in system.

RBI pushes banks to cut rates

The currency strengthened on speculation that India&rsquo;s economy, forecast by the central bank to grow at 6 per cent in the financial year that started April 1, will weather the global recession better than most other emerging markets.

Rupee sees first gain in five days

Yields on government bonds may soften further on hopes of rate cuts by the Reserve Bank of India (RBI), flexibility induced in the RBI&rsquo;s open market operations (OMO) auction and clarity in the government borrowing plan for Rs 45,000 crore.

Bond yields to soften further

Financial Analysis: Find the Latest Financial News Analysis & Research Updates from all top sources for the Indian Finance industry on Business Standard.

Finance News Analysis, Financial Analysis and Research | Business Standard

Find the Latest Financial News Analysis & Research Updates from all top sources for the Indian Finance industry on Business Standard.

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