Page 148 - Reserve Bank Of India

ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods

Fresh clearing options came up in discussions with RBI, banks in touch with offshore regulators

RBI imposes Rs 1.25 crore penalty on Zoroastrian Co-operative Bank

The Reserve Bank of India has imposed a penalty of Rs 1.25 crore on Zoroastrian Co-operative Bank, Mumbai for non-compliance with certain directions, including one related to discounting of bills. In a release, the RBI said the bank had failed to comply with its directions on 'Discounting of Bills by UCBs Restricted Letters of Credit (LC)' and the provisions of the Rules, as it discounted accommodation bills under LCs without establishing the genuineness of underlying transactions/ documents and failed to preserve records in good order for a period of eight years. In a separate release, the RBI said a penalty of Rs 20 lakh has been imposed on Indian Mercantile Co-operative Bank, Lucknow for non-compliance with the certain norms related classification of non-performing assets. The central bank also imposed penalties on five other cooperative banks. The RBI, however, added that penalties are based on deficiency in regulatory compliance and is not intended to pronounce upon the valid

PNB plans to raise up to Rs 4,000 crore through issuance of tier-2 bonds

The latest round of fundraising by banks comes at a time when credit growth has shown sustained momentum even as growth in deposits continues to lag

Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction

Growth of money kept in current accounts moderated to 8.8% this September, from 17.5% a year ago

Festivals boost credit card spends to record high of Rs 1.29 trillion

On a year-on-year (YoY) basis, spends were up over 25 per cent, despite a high base

Paytm dips 4% intra-day as RBI asks arm not to onboard new online merchants

This has no material impact on our business and revenues, since the communication from RBI are applicable only to on boarding of new online merchants, Paytm said

Top Headlines: Air India on metro-to-metro routes; RBI rate hike & more

A Business Standard poll shows that the Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) is likely to announce a 35-basis point (bp) hike in the repo rate on December 7

Public Credit Registry: What's that?

PCR needs to be backed and governed by a comprehensive Public Credit Registry Act in consultation with the govt, and it must follow the latest privacy guidelines based on a laid-down consent framework

Economists see 35 bps rate hike, then a pause: BS monetary policy poll

Some expect a slight reduction in GDP growth forecast

Indian industries urge RBI to consider moderating pace of rate hikes

In order to reduce the multi-year high inflation, the RBI has increased the policy repo rate by 190 basis points since May of the ongoing fiscal year

India seeks to shrink budget deficit by 50bps as global headwinds loom

What complicates matters for Sitharaman is that her food and energy bills are inflated by the war in Ukraine and given India runs a current-account deficit as well, the rupee has been weakening

Forex reserves rise for second week in a row; up $2.5 bn to $547.25 bn

The latest data marks the first time since May that the RBI's reserves have risen for two consecutive weeks

Hike interest rates by 25-35 basis points in Dec: Economists to RBI

The meeting was held ahead of the RBI's next monetary policy review, which is scheduled December 5-7

RBI's Housing Price index up 4.5% in Q2, Kochi tops chart with 11.5% rise

Four of the 10 cities in the index recorded sequential contraction, the others posted expansion

Selecting a target maturity fund based on your horizon and risk appetite

Constitution of underlying indexes doesn't matter since all the three categories of bonds they invest in are safe

RBI permits banks to open 12 special vostro accounts for trade in rupees

So far, not a single overseas trade transaction directly involving the rupee has taken place

RBI, UAE central bank discuss mechanism to trade in local currencies

Negotiations between India-GCC FTA expected in Jan-March quarter

HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh

According to HDFC's latest annual report, the mortgage lender has over 10 subsidiaries, including HDFC Life Insurance, HDFC Ergo General Insurance, and HDFC Asset Management

FM Sitharaman seeks to shrink budget deficit as global headwinds loom

A longstanding plan aims to shrink the shortfall to below 4.5% of GDP by 2025-26

RBI MPC blames global factors for high inflation in letter to Centre

The war in Ukraine and resultant spurts in energy and food costs, and supply disruptions caused by the pandemic are among main reasons cited by RBI for high inflation