Page 323 - Reserve Bank Of India

Bank credit grew 8%, deposits 9.92% in fortnight ended Nov 6: RBI data

Bank's credit grew by 8.07 per cent to Rs 98.47 lakh crore in the fortnight ended November 6, according to the recent RBI data. In the similar fortnight last year, the advances have stood at Rs 91.11 lakh crore. In the previous fortnight ended October 25, 2019, bank credit had grown by 8.90 per cent y-o-y to Rs 98.39 lakh crore. Bank deposits in the fortnight ended November 8 increased by 9.92 per cent to Rs 129.98 lakh crore from Rs 118.257 lakh crore year ago, RBI data showed. Deposits had grown by 10.25 per cent to Rs 129.78 lakh crore in the fortnight ended October 25. On a year-on-year (y-o-y) basis, non-food bank credit growth decelerated to 8.1 per cent in September 2019 from 11.3 per cent in September 2018. Loans to agriculture & allied activities rose by 7 per cent in September 2019 as compared with an increase of 5.8 per cent last year same period. Advances to the services sector decelerated sharply to 7.3 per cent in September 2019 from 24 per cent in ...

Ahead of bankruptcy process, RBI puts DHFL board under administrator

The announcement comes after the government last week empowered the RBI to refer stressed NBFCs and HFCs having assets worth of at least Rs 500 crore to insolvency court

PSBs report Rs 95,700-crore frauds: Are banking frauds on the rise?

State Bank of India reported fraud of ₹25,400 crore followed by Punjab National Bank of ₹10,800 crore and Bank of Baroda of ₹8,300 crore

Electoral bonds govt's instruments of 'opaque money laundering': Congress

"RTI reveals how 'electoral bonds' became instruments of anonymous donations bordering on opaque 'money laundering'," Surjewala said in a tweet.

RBI discovers more than $450 million in extra bad loans at Yes Bank

Gross non-performing assets assessed by the Reserve Bank of India were $457 million higher than Yes Bank had disclosed as of March 31

Not bottomed out yet? India may grow at less than 5% in FY20, say forecasts

Reserve Bank of India has cut interest rates five times this year to boost growth, with the monetary easing complemented by fiscal measures, including $20 billion of tax cuts for companies

PSBs have reported Rs 95,700-crore frauds in first 6 months of FY20: FM

FM Sitharaman says 5,743 incidents in govt banks from April to September this year

State Bank may seek RBI approval for DHFL insolvency proceedings

Banks led by SBI may make a representation to the RBI, stating the current resolution process did not find much success and they would like to opt for resolution under the IBC

History blends with technology at a museum that was once RBI's first office

The RBI had taken the building on lease from the Alliance Bank of Simla. Later, when Alliance Bank went into liquidation, RBI took it over from the liquidators.

Curbs on CICs could limit fundraising abilities of big corporate groups

The proposed curbs on core investment companies will make it tough for large corporate groups to funnel capital as they did in the past

PMC case: Depositors can contact RBI admin during emergency, says Bombay HC

The RBI had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities

RBI slaps Rs 2.50-crore fine on Bank of Baroda over non-compliance

It is alleged that there was illegal transfer and misuse of funds from government accounts

RBI unions want govt to raise deposit insurance cover to Rs 10 lakh

The Reserve Bank employees unions on Tuesday urged the government to hike the insurance cover on bank deposits from the present Rs 1 lakh to Rs 10 lakh. The demand for increasing bank deposit insurance cover, which was last revised in May 1993, has come to the fore after the ongoing crisis at Punjab & Maharashtra Cooperative Bank. Over the weekend, finance minister Nirmala Sitharaman had said government would bring in a legislation during the ongoing Winter session to increase the deposit insurance cover from Rs 1, but did not specify a number. "We had earlier suggested hiking the insured deposit cover to at least Rs 10 lakh, covering all types of deposits of an individual, which we reiterate and urge the government to consider," the All-India Reserve Bank Employees Association said in a statement. In dollar terms, the proposed cover at around USD 14,000 is much lower than in many other countries, it added. At present, the Deposit Insurance and Credit Guarantee ...

Beyond deposit insurance

Mechanism should be economically viable

RBI plans 'college of supervisors' to prevent 'PMC Bank-like crisis'

The Reserve Bank is in the process of setting up a 'college of supervisors' to augment the supervisory skills of its key personnel, governor Shaktikanta Das has said. The development can be attributed as a response to the massive scam at Punjab & Maharashtra Cooperative (PMC) Bank, which for three years hoodwinked the regulator with cooked up books-something the annual inspection by the RBI supervisors could not notice and take preventive action. The RBI has already created a unified department of supervision and a unified department of regulation from November 1 this year, which will strengthen the oversight of commercial banks, cooperative banks and NBFCs, Das has said. The governor was addressing a closed-door conference on '50 years of bank nationalisation' organised by Ahmedabad University over the weekend. "It is our endeavour to update the knowledge and skill levels of supervisors on a continuous basis. We are adopting a multi-pronged approach in this aspect. .

RBI cut rate by 110 bps since Apr, but borrowers gained little: BofA-ML

RBI has been blaming banks for slower transmission of its policy moves into their lending rates and continuously nudging them to cut more, so that credit pick up can increase to help broader growth

NBFCs with assets of Rs 500 cr can go for insolvency resolution: RBI

the ministry notified the framework for dealing with systemically important FSPs, excluding banks, under the Code wherein sectoral regulators can seek resolution of stressed entities

Slowdown to bad debts: Shaktikanta Das's balancing act is becoming tougher

As the economy slows, the Reserve Bank governor will find it tough to keep all the balls in the air in the many roles he performs.

RBI turns down banks' plea to relax June 7 circular on stressed assets

Loans of over Rs 1.8 trillion, for which agreement has been signed by banks, are likely to be referred to IBC

Deposit insurance may be raised to Rs 5 lakh; new wholesale plan in offing

New scheme likely for wholesale at Rs 25 lakh; proposals could figure at RBI board meet