Central Bank

RBI Dy Guv reaffirms crypto scepticism, says CBDC will grow step by step | BFSI Summit 2025

The Reserve Bank of India (RBI) will continue to take a measured approach in developing its Central Bank Digital Currency (CBDC), prioritising careful assessment over speed,

Asheesh Pandey named MD of Union Bank; Kalyan Kumar to head Central Bank

The government has appointed Asheesh Pandey as managing director (MD) and CEO of Union Bank of India and Kalyan Kumar as head of Central Bank of India for a period of three years. The Appointments Committee of the Cabinet headed by the Prime Minister approved these appointments for an initial period of three years, sources said. Pandey, currently Executive Director of Bank of Maharashtra, has been appointed as MD and CEO of Union Bank of India for a period of three years with effect from date of assumption of charge of the office. Kumar, Executive Director of Punjab National Bank (PNB), will succeed M V Rao as MD and CEO of Central Bank of India after his superannuation in July. The Financial Services Institutions Bureau (FSIB) on May 30 recommended Pandey and Kumar for the post of MD and CEO of Union Bank of India (UBI) and Central Bank of India, respectively. FSIB is headed by former Department of Personnel and Training Secretary Bhanu Pratap Sharma. Other members of the headhu

Three RBI executive directors in race to succeed deputy governor Rao

Three RBI executive directors - SC Murmu, Vivek Deep and Rohit Jain - are in contention to succeed deputy governor M Rajeshwar Rao, whose extended term ends in October

Trump suggests US Federal Reserve may be ready to cut interest rates

The two men met on Thursday when Trump made a rare visit to the US central bank to tour its ongoing renovation of two buildings at its headquarters in Washington

Central bank expects FY26 inflation to be below 3.7%: Guv Malhotra

Annual retail inflation in India slowed to a more than six-year low of 2.10% in June, on the back of easing food prices, data showed on Monday

RBI skips 14-day main liquidity operation for third straight fortnight

Market participants had expected the RBI to conduct a 14-day variable rate repo auction on Friday on account of the upcoming tax outflows which are seen sucking out rupee funds from the banking system

RBI to discontinue daily variable rate repo auctions from June 11

The RBI started conducting daily VRR auctions on every working day from January 16, when banks were grappling with tight liquidity conditions

RBI rejects Annapurna Finance's application for setting up universal bank

The Reserve Bank has rejected the application of Annapurna Finance Private Limited for setting up a universal bank. In a statement on Friday, the RBI said it has completed the examination of the application of Annapurna Finance Private Limited for setting-up a universal bank. "Based on the assessment of the application as per the procedure laid down under extant guidelines, the applicant was not found suitable for granting of in-principle approval to set up a universal bank," it said. The central bank had received the application under the guidelines for 'on tap' licensing of universal banks.

Central Bank of India buys 24.91% stake in Future Generali for Rs 451 cr

State-owned Central Bank of India buys 24.91% stake in Future Generali India and 25.18% in its life insurance arm following approvals from CCI, RBI and IRDAI

Central Bank acquires 25.18% stake in Future Generali India Life Insurance

State-owned Central Bank of India on Thursday said it has acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (June 4), the bank has ventured into the insurance sector, Central Bank of India said in a regulatory filing. At present, Central Bank of India has 25.28 per cent stake in FGILICL, which had earned a gross written premium of Rs 1,810.53 crore in FY24. The CCI has also approved a 25.18 per cent equity stake in Future Generali India Life Insurance Company Ltd (FGILICL) through a bid/resolution plan submitted by Central Bank of India under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. FGILICL offers savings insurance, investment plans (ULIP), term insurance plans, health insurance plans, child plans, retirement plans, rural insuran

NCLAT scraps audit, reinstates Resolution Professional at Golden Tobacco

The Insolvency appellate tribunal NCLAT has set aside the directions of the NCLT for a forensic audit of Golden Tobacco, and a change in the resolution professional of the debt-ridden cigarette maker. Passing an order over a batch of petitions filed against the NCLT order, the National Company Law Appellate Tribunal also extended the timeline for completing the CIRP (Corporate Insolvency Resolution Process) of Golden Tobacco till October 17, 2025. Besides, the appellate tribunal has also directed the NCLT to decide over the claims of financial creditors -- Central Bank of India, Arrow Engineering and others and then to reconstitute the lenders' body -- Committee of Creditors (CoC). "The direction of the Adjudicating Authority to conduct a forensic audit by KPMG is set aside," said a two-member bench comprising Chairperson Justice Ashok Bhushan and Member Barun Mitra. Vadodara-based Golden Tobacco owns cigarette brands such as Panama, Chancellor, Golden's Gold Flake and Taj Chhap. I

RBI documentary series premieres on JioHotstar with first of five parts

The five-part series on the Reserve Bank of India explores its 90-year journey, covering its vision, achievements, and the critical roles it plays in India's economy

NFRA gets IndusInd Bank complaint; in talks with RBI to avoid probe overlap

The authority, however, is in talks with the Reserve Bank of India (RBI) to cross-check the investigations, including a forensic audit, that the central bank has conducted so far to avoid duplication

India's forex reserves fall $4.9 bn due to decline in gold holdings

India's foreign exchange reserves dropped by $4.9 billion to $685.7 billion in the week ended May 16 due to a sharp $5.1 billion decline in gold reserves

India's foreign exchange reserves rise by $8 billion to six-month high

The reserves had hit a record high of $705 billion in September 2024

Run up to MPC review: RBI actively focusing on policy rate transmission

Amid fiscal consolidation, heavy lifting by central bank to support economy

Emerging challenges for RBI: The central bank will need to keep adapting

In terms of challenges, the unpredictability of the US trade policy, or policy in general, which has increased global uncertainties, will keep the risk on the external front elevated

Central Bank, IOB, UCO Bank rise up to 4% in trade on Feb 25; here's why

The uptick in these stocks came after the DIPAM invited bids from merchant bankers to assist the government in its planned stake sale in public sector banks and listed financial institutions

Reserve Bank of India for foreclosure of biz loans to MSEs, individuals

The RBI has invited comments and feedback from stakeholders and the public on the draft circular by March 21

Reserve Bank of India issues norms for forward contracts in G-secs

Aims to assist long-term investors in managing cash flows