Page 50 - Reserve Bank Of India

Bank holidays 2025: Why will banks be closed on 20 Feb in these states?

On Thursday, February 20, 2025, all banks in these two Northeast states will be closed. Customers will be wondering why has the RBI granted banks a holiday?

Flows in NRI deposits up 43% to $13.33 bn in April-December 2024: RBI

The total outstanding NRI deposits as of the end of December 2024 stood at $161.8 billion, the latest data released by RBI showed

Net short position of RBI's forward book swells to $67.9 billion

REER moderates to 104.82 in January

Net FDI in India declines to $1.2 billion Apr-Dec 2024, says RBI data

Gross inward FDI during April-November 2024 increased by 20.6 per cent year-on-year (Y-o-Y) to $62.5 billion from $51.8 billion a year ago

Union Budget balances fiscal and growth objectives, says RBI report

According to the report, the budget reaffirms the government's commitment to fiscal discipline while fostering inclusive, long-term economic growth in line with the vision of Viksit Bharat

PNB reports Rs 270.57 cr loan fraud by Gupta Power Infrastructure

State-owned Punjab National Bank on Tuesday reported a fraud of Rs 270.57 crore by Odisha-based Gupta Power Infrastructure Ltd to the Reserve Bank. Borrowal fraud of Rs 270.57 crore has been reported to the Reserve Bank of India (RBI) in non-performing asset (NPA) account of Gupta Power Infrastructure Ltd, PNB said in a regulatory filing. The loan was given by Station Square branch of the bank in Bhubaneswar, it said. The bank has already made provisions amounting to Rs 270.57 crore, according to prescribed prudential norms. For the December quarter, PNB posted more than two-fold jump in net profit to Rs 4,508 crore as against Rs 2,223 crore in the same quarter a year ago. The company's total income increased to Rs 34,752 crore from Rs 29,962 crore in the same period a year ago, PNB said in a regulatory filing. Interest income also rose to Rs 31,340 crore from Rs 27,288 crore in the same quarter a year ago. On the asset quality front, the bank's gross non-performing assets ratio

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 '? ...

Deposit insurance cover may increase from Rs 5 lakh: DFS secy Nagaraju

Currently, deposits of up to ₹5 lakh are covered under the deposit-insurance scheme of Deposit Insurance and Credit Guarantee Corporation

Regulator has been urging caution on NBFC pricing: Aadhar HF MD & CEO

The adjustments in the US economy suggest we may see stability over time, says Rishi Anand

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

Bank of Maharashtra receives RBI's approval for opening GIFT City branch

State-owned Bank of Maharashtra (BoM) on Sunday said it has received approval from the Reserve Bank of India to set up an International Financial Services Centre (IFSC) Banking Unit at GIFT City. The branch will function as Bank of Maharashtra's first international branch carrying out offshore banking operations from India. Speaking on the development, BoM MD & CEO Nidhu Saxena said," This is a significant opportunity for our bank as we continue to expand our operations across geographies. The opening of IBU in GIFT City will be yet another milestone in the bank's growth story." This development will help expand international banking business and also enable the bank provide specialised banking services to its customers, he added. Aligned with the government's vision of making India an international financial hub, the GIFT City, located in Gandhinagar, Gujarat is India's first IFSC, aimed at revolutionizing India's financial ecosystem by providing world-class banking services ...

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

Alleged misappropriation of funds behind curbs

Financial services firm Navi appoints new CEOs as part of leadership rejig

Sachin Bansal steps down as Navi CEO; to serve as executive chairman of the group

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

Customers panic as RBI bans withdrawals from New India Co-operative Bank

RBI imposed severe restrictions on New India Co-operative Bank, including a ban on withdrawals for six months, due to concerns over the bank's financial stability

Business correspondents to undergo digital audit, new training models

New audit envisages banks using digital technologies like video-based interviews, geo-tagging technology, and transaction-based controls, committee to be headed by top SBI official

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