The committee has recommended a periodic review of the RBI's economic capital framework, according to a source
This is one of the highest penalty amounts on any bank in the recent past
The proposed mobile app would be able to identify the denomination of notes of Mahatma Gandhi Series and Mahatma Gandhi (New) series
Presently, the markets close at 5 pm
In India, the LEF applies to all banks, apart from the regional rural banks
Transmission of interest rates, sectoral concerns to figure in talks end-July
The Finance Minister would apprise the board of various other announcements made in the Budget to spur growth
The decision follows concerns that a broader financial crisis may emerge as firms like Dewan Housing Finance Corp. and Anil Ambani's Reliance Capital Ltd. struggle to find fresh funding
The Reserve Bank of India will hold a reverse repo auction of Rs 250 billion of 63-day duration on today
What's dawning on all concerned is there is simply no way that state-run banks can dole out equal hikes to their staffers as has been the practice through the decades
Interference by finance ministry in the working of Reserve Bank of India is glaring
Shwanathan is known to be one of the key architects behind the revised norms
His existing tenure was to end Wednesday, July 3.
The one-year MCLR, to which a majority of loans like residential mortgages and auto loans are tied, now stands at 8.65%
Interest rates should be linked to market outcomes
The central bank receives data from banks, various other financial companies, as well as from the markets, says RBI Governor
RBI sets the average base rate for NBFC-MFIs on the basis of average of base rate of the five largest commercial banks
Global payment firms have expressed concerns about the RBI's April directive and the issue is believed to have been on the agenda of US Secretary of State Mike Pompeo's visit
The clarification has come a week after the government said the RBI would examine concerns around its strict data-localisation guidelines
However, if more NBFCs are allowed in the factoring platform, MSMEs will immediately witness ready buyers, and their debtor delay and working capital cycle will improve vastly