Page 180 - Reserve Bank Of India

RBI approves Meena Hemchandra as part-time chairman of Karur Vysya Bank

Private sector lender Karur Vysya Bank on Tuesday said the Reserve Bank of India (RBI) has approved the appointment of former RBI executive Meena Hemchandra as part-time chairman of the bank

Neighbours, Russia can help convert 16.38% of India's trade into rupees

The rupee's use in trade settlement would help the RBI in conserving foreign exchange. India's forex reserves have fallen by more than Rs 1 trillion since the outbreak of the Russia-Ukraine war

India's high inflation to stick for longer, rates to rise more: Poll

One of the later entrants in the current round of global monetary policy tightening, the Reserve Bank of India raised its repo rate by a total of 90 basis points in May and June

How data privacy, Razorpay became victims of Alt News vs Delhi Police fight

Alt News received money "through Razorpay from Pakistan, Syria, Australia, Singapore, and the UAE, which all require further investigation," a public prosecutor said

RBI allows settlement in rupee to settle trade with Russia, Sri Lanka

Exchange rate of two trading partners may be market determined, says central bank

India's retail inflation likely held steady just above 7% in June: Poll

The July 4-8 Reuters poll of 42 economists showed inflation as measured by the consumer price index (CPI) was steady at an annual 7.03% in June, versus 7.04% in May

Live news: 63 pilgrims from Maharashtra's Beed stranded in Amarnath rescued

Latest Live news updates: Amarnath yatra rescue operations, EAM on Sri Lankan crisis, PM addresses Natural Farming Conclave, and more

Unhedged exposure via external commercial borrowing new threat to rupee

According to RBI data on external debt released, short-term debt on a residual maturity basis accounted for 44.1% of foreign exchange reserves at the end of March 2022

Inflation may ease gradually in 2nd half of fiscal, says RBI Governor Das

Inflation is a measure of the trust and confidence that the public reposes in the economic institutions of the country, Das said while speaking at the inaugural Kautilya Economic Conclave

Srei Equipment Finance's auditor Haribhakti resigns from immediate effect

In a letter to administrator of Srei Equipment Finance, Haribhakti cited RBI guidelines for the appointment of statutory central auditors /statutory auditors of commercial banks

India's forex reserves slip $5 bn in a week amid RBI interventions

Most emerging market currencies have faced pressure since the start of the war in Ukraine in late February as investors have rushed to safe-haven assets

RBI clears payment aggregator licence for Razorpay, PineLabs & Stripe

Payment aggregators enable e-commerce sites and merchants to accept payment instruments from customers without the need for merchants to create their own payment integration system

RBI allows more FPI access to Indian bonds, but returns may not lure flows

Treasury officials believe the move may not work as rising interest rates abroad and high domestic inflation have eroded returns from Indian fixed-income assets

RBI fines Federal Bank Rs 5.7 cr for flouting insurance broking norms

Banking regulator imposes fine of Rs 70 lakh on Bank of India for non-compliance with KYC norms

Rupee's travails: What has led to the fall, and what can Reserve Bank do?

The foremost reason for the currency's fall is the money being pulled out from the Indian economy by the FPIs and FIIs. In the last six months, FPIs have pulled out Rs 2.32 trillion

Lessons from the Raj: Whether it is gold or salt, higher duties don't work

The problem of gas in Europe, oil in the US and gold in India is a lifestyle problem. High taxes and import duties aren't going to solve it

Rupee's slide to successive record lows pits RBI against mkt full of bears

The rupee's tumble to a succession of record lows is sparking fears of a deeper selloff and pitting the central bank against analysts and strategists who are predicting further losses

RBI cancels licence of Shri Anand Co-operative Bank due to lack of capital

RBI on Thursday said it has cancelled the license of Shri Anand Co-operative Bank, Chinchwad, Pune as the lender does not have adequate capital and cannot pay its present depositors in full. The bank ceases to carry on banking business, with effect from the close of business on Thursday (July 7, 2022), the Reserve Bank of India (RBI) said in a statement. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has been asked to issue an order for winding up the bank and appoint a liquidator for the bank. As per the data submitted by the bank, more than 99 per cent of the depositors are entitled to receive full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC), RBI added. "Consequent to the cancellation of its license, 'Shri Anand Co-operative Bank Ltd, Chinchwad, Pune' is prohibited from conducting the business of banking which includes, among other things, acceptance of deposits and repayment of deposits...with ...

RBI Governor asks states to find out effective ways to address debt issues

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday asked state governments to find out effective ways to address the issues related to debt and cash management. The governor was addressing the 32nd Conference of the State Finance Secretaries (SFS) here. In his address, Das highlighted the importance of the SFS conference as an effective platform to deliberate on, and find out effective ways to address various issues relating to states' debt and cash management, RBI said in a statement. He emphasised on the need for the states to adopt prudent borrowing strategy and efficient cash management practices, keeping in view the evolving macroeconomic scenarios. Further, Das stressed on the need for the states to focus on improving quality of expenditures, better handling and monitoring of contingent liabilities and improving the governance in the cooperative banks. During the meeting, market borrowings by the states and administration of the Consolidated Sinking Fund/ Guara

RBI measures to have positive impact on oversesas fund inflows: DEA Secy

Economic Affairs Secretary Ajay Seth on Thursday said the measures taken by Reserve Bank of India (RBI) will increase inflows of overseas funds and help in strengthening the rupee against the dollar.