Page 57 - Rbi

MK Stalin, Rahul Gandhi defamation row, Stock market, RBI & more

Tamil Nadu CM M K Stalin criticised the Centre's push for Hindi under the National Education Policy, calling the mother tongue issue a “hornets’ nest”.

RBI set to ask lenders to tighten gold loan processes, monitor fund usage

The Reserve Bank of India wants banks and non-banks to also bolster background checks on borrowers and ascertain the ownership of the gold that is being mortgaged

RBI announces Rs 1 trn bond buy, $10 bn $-Re swap to infuse liquidity

The central bank announced open market operations (OMO) auctions to purchase government securities worth Rs 1 trillion in two tranches of Rs 50,000 crore each on March 12 and March 18

RBI-Fintech meet: Malhotra emphasises on need for ensuring compliance

He also emphasised that the RBI values such interactions with ecosystem participants and would continue to adopt a consultative approach

Rupee records highest single day gain in three weeks; settles at 86.96

The dollar index dropped 0.6 per cent to 104.9, its lowest level since November 2024, amid concerns over the US growth outlook and uncertainty about the impact of trade tariffs on growth and inflation

Reserve Bank appoints Ajit Ratnakar Joshi as new executive director

Ajit Ratnakar Joshi was serving as Principal Adviser in Department of Statistics and Information Management

RBI advises NBFCs to curb perpetual credit lines over risk concerns

The RBI has cautioned NBFCs on perpetual credit lines, citing risks of loan evergreening and financial instability, urging lenders to slow down issuance of such flexible credit products

Economists expect 25 bps rate cut in April meeting to support growth

Net liquidity in the banking system was in a deficit of Rs 1.09 trillion as of Monday, according to the latest data by RBI

Bank holidays in March 2025: Banks to remain shut for 14 days, check list

March Bank holidays: Banks are going to remain shut for 14 days in March 2025. People who have bank-related work pending should plan their visit accordingly. Check the complete bank holiday list here

RBI records forward dollar position undermines forex reserves comfort

The RBI's net short dollar position in forwards and futures hit a record high of $77.5 billion in January 2025, as per data released after market hours on Friday

PNB urges customers to update KYC by March 26 to avoid account restrictions

The KYC update can be done by visiting PNB branch, using the PNB ONE mobile app, Internet Banking Services (IBS), or sending the required documents via registered email or post to their base branch

RBI adopting more accommodative stance under Sanjay Malhotra: Analysts

This is reflected in the measures taken by the central bank in the past few months to spur economic growth and ease liquidity tightness

98.18% of Rs 2,000 notes returned, Rs 6,471 cr worth still with public: RBI

The Reserve Bank on Saturday said 98.18 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,471 crore worth such notes are still with the public. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, declined to Rs 6,471 crore at the close of business on February 28, 2025, RBI said. "Thus, 98.18 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," it said in a statement. The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches till October 7, 2023. However, this facility is still available at the 19 issue offices of the Reserve Bank. Since October 9, 2023, RBI issue offices are also accepting Rs 2000 banknotes from individuals and entities for deposit into their bank

Reserve Bank of India conducts $10 bn forex swap to inject liquidity

This was the second swap auction by the central bank, after it infused $5 billion via a six-month swap on January 31

Bombay HC directs Anil Ambani to approach RBI over Union Bank order

The Bombay High Court on Friday raised concerns over the "cut, copy, paste manner" in which banks pass orders declaring accounts as 'defaulter' or 'fraud', and asked industrialist Anil Ambani to approach the RBI against an order of the Union Bank of India declaring his loan account as 'fraud'. A division bench of Justices Revati Mohite Dere and Neela Gokhale was hearing a petition filed by Anil Ambani challenging the October 10, 2024 order passed by the Union Bank of India. He was not granted any hearing before the order was passed, he claimed, challenging two show-cause notices issued by the bank. He had also asked for copies of the documents on which the bank had relied before passing the order, but no documents were furnished, the petition claimed. During Friday's hearing, the court said it was repeatedly coming across cases where banks declare accounts as 'fraud' or 'willful defaulter' without following the guidelines laid down by the Reserve Bank of India. "There cannot be suc

Growth in personal loans slows down to 14.2% in Jan, shows RBI data

Personal loan growth slowed down to 14.2 per cent in the fortnight to January 24, 2025, mainly due to subdued credit offtake of vehicle loans and credit card outstanding, according to the Reserve Bank data. The RBI on Friday released data on sectoral deployment of bank credit for January 2025 collected from 41 select commercial banks, accounting for about 95 per cent of the total non-food credit deployed. On a year-on-year (y-o-y) basis, non-food bank credit as of the fortnight ended January 24, 2025, grew at 12.5 per cent (a three-month high) as compared to 16.2 per cent for the corresponding fortnight of the previous year (January 26, 2024), the RBI said. "Credit to personal loans segment registered a growth of 14.2 per cent (y-o-y) as on the fortnight ended January 24, 2025, as compared with 18.2 per cent a year ago, largely due to decline in growth rate in other personal loans', vehicle loans' and credit card outstanding' segments," it said. It further said that loan to ...

Forex reserves rise to two-month high of $640.48 billion, shows RBI data

Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves

RBI conducts forex swap worth $10 billion to inject long-term liquidity

The Reserve Bank on Friday conducted US dollar-rupee swap worth USD 10 billion for injecting long-term liquidity in the system, with the auction eliciting robust demand. The settlement of auction will take place on March 4 and March 6. The USD/INR Buy/Sell swap auction for a tenor of 3 years was oversubscribed 1.62 times. The Reserve Bank of India (RBI) said it received 244 bids during the auction and 161 of them were accepted for amount totalling USD 10.06 billion. The auction comes in the backdrop of rupee trading at 87.46 against the US dollar amid global uncertainties. The swap was in the nature of a simple buy/sell foreign exchange swap from the Reserve Bank side. A bank shall sell US dollars to the Reserve Bank and simultaneously agree to buy the same amount of US dollars at the end of the swap period. While announcing the swap auction last week, the RBI had said: "In order to meet the durable liquidity needs of the system, the Reserve Bank has decided to inject Rupee liqu

RBI relaxing risk weights to release Rs 40,000 cr capital for banks

Bandhan Bank and IndusInd Bank likely to be biggest beneficiaries of the moves since both have high microfinance exposure

CII's legal committee pushes for appellate body for financial sector

The legal committee wants all financial regulators, including the RBI, to be under the ambit of the new body