Page 60 - Rbi

RBI launches 'RBIDATA' app to offer access to economic, financial data

Reserve Bank on Tuesday launched mobile application 'RBIDATA' which will provide access to more than 11,000 different series of economic data related to the Indian economy. The mobile app offers macroeconomic and financial statistics relating to the Indian economy in a user-friendly and visually engaging format, Reserve Bank of India (RBI) said in a release. Users will be able to view time series data in graphs/charts and download data for analysis. There will also be details such as data source, unit of measurement, frequency and recent updates. Further, the app's 'Banking Outlet' section will help users find banking facilities within 20 kilometres of their location and they can also access data about SAARC countries through the 'SAARC Finance'. According to the release, the app will offer access to over 11,000 different series of economic data to give a comprehensive view of the Indian economy. "This app offers quick access to the Database on the Indian Economy (DBIE '? ...

Govt, RBI working together to control inflation and drive growth: FM

Union Finance Minister Nirmala Sitharaman on Monday said the government and Reserve Bank are working in "sync" to control inflation and in turn boost growth. Speaking to reporters here, the finance minister said inflation cooled to nearly 4 per cent, and attributed this outcome as a factor which helped the Reserve Bank cut interest rates first time in over four years when it slashed the repo rate by 25 basis point this month. "Inflation-related management of supplies and also the monetary policy is working in sync in order to favour the growth cycle," the FM said. She said that inflation management also includes work on aspects relating to imported inflation. Meanwhile, Sitharaman handed over keys to homebuyers from select projects in the Mumbai Metropolitan Region (MMR), whose long-stressed residential projects have been completed under the "Special Window for Affordable and Mid-Income Housing (SWAMIH I) Investment Fund". The milestone marks the completion of 50,000 homes, as per

Entire claims settled by deposit insurer was for co-op banks in FY24

Over 90% of the insured are co-op banks

RBI's conflicting objectives: Focus on inflation, growth over exchange rate

The law mandates the RBI's primary objective is maintaining price stability, keeping an eye on growth. It does not mention managing the exchange rate

RBI allows matching of PM-GAH transactions on NDS-OM, CCIL settlement

Currently, transactions between a PM and its own GAH or between two GAHs of the same PM are not permitted to be matched on NDS-OM

Govt may raise deposit insurance beyond Rs 5 lakh amid bank scam concerns

After the New India Co-op Bank scam exposed a Rs ₹122 crore fraud, the govt is mulling over raising deposit insurance beyond Rs 5 lakh amid rising concerns over financial security

New India Cooperative Bank's GM held in Rs 122 cr fraud: How it happened

The bank's general manager allegedly withdrew cash from the bank's Prabhadevi and Goregaon branches, siphoning off funds since the Covid-19 pandemic

Gold rush: Why JPMorgan, HSBC are pulling bullion from Bank of England

Donald Trump's tariff threats spark huge gold rush from London to New York as prices surge 11% in the US

SBI cuts home loan rate, EBLR by 25 bps after RBI's repo rate reduction

State Bank of India (SBI) has reduced its home loan rate by 25 bps to 8.25% and EBLR to 8.90%, following RBI's 25 bps repo rate cut to 6.25%, signalling easing rates in the system

India's forex reserves climb $7 bn to $638 bn on revaluation effect

The total reserves rose on the back of the rise in foreign currency assets which rose by $6.42 billion to $544.11 billion during the week

RBI supersedes New India Co-op Bank board after imposing biz restrictions

Alleged misappropriation of funds behind curbs

RBI to inject $16 billion next week to cover tax outflows, liquidity

The RBI has doubled the quantum of government securities it aims to purchase Rs to 400 billion rupees ($4.61 billion) on a review of current and evolving liquidity conditions

RBI imposes Rs 68.1 lakh fine on Nainital Bank, Ujjivan Small Finance Bank

The Reserve Bank on Friday said it has imposed penalties totalling Rs 68.1 lakh on two banks -- Nainital Bank and Ujjivan Small Finance Bank -- for contravention of regulatory norms. A penalty of Rs 61.40 lakh was imposed on Nainital Bank Ltd for non-compliance with certain directions on Interest Rate on Advances' and Customer Service in Banks', RBI said in a statement. Further, RBI imposed a penalty of Rs 6.70 lakh on Ujjivan Small Finance Bank for non-compliance with certain directions issued by RBI on Loans and Advances - Statutory and Other Restrictions'. RBI also levied a penalty of Rs 5.80 lakh on Shriram Finance, a non-banking entity, for non-compliance with certain provisions, including Know Your Customer (KYC ) guidelines and directions on Data Format for Furnishing of Credit Information to Credit Information Companies'. The penalties are based on the deficiencies in regulatory compliance and are not intended to pronounce upon the validity of any transaction or agreement .

Poor governance: RBI replaces New India Co-op Bank's board for 12 months

Customers queued outside New India Cooperative Bank's branches in Mumbai on Friday seeking answers on the abrupt shut down of certain key services

Decoded: Why RBI stopped New India Co-operative Bank's operations

The RBI has barred the New India Co-operative Bank Ltd from issuing loans or permitting withdrawals for six months

RBI intervention boosts rupee to strongest weekly gain in 19 months

On Monday, the rupee slipped to an all-time low of 87.95 against the dollar, but the fall was limited as the RBI intervened by selling dollars in the spot market

NBFCs urge RBI to raise ECB limit, ease loan recovery and eKYC rules

NBFCs urge RBI to raise the ECB limit, ease SARFAESI norms for small loans, expedite eKYC approvals, and relax asset classification rules for alternative vehicle financing

RBI flags FEMA breach in overseas guarantees, seeks corporate compliance

RBI directs state-owned banks to ensure corporates admit and pay penalties for violating FEMA rules by securing performance guarantees from overseas financial institutions

Saluja ceases to be Religare director; Tripathi named chairperson

Saluja's exit follows a clarification from the Reserve Bank of India (RBI) confirming that its approval is not required for her removal, the company said in an exchange filing

Govt, RBI keeping vigil on rupee fluctuation: FM Sitharaman in Rajya Sabha

The FM said that the value of the Indian rupee is influenced by various factors such as the index of the dollar, trends in capital flows, interest rates, and crude price movements