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Reserve Bank of India

RBI raises repo rate by 40 bps; EMIs to get bigger  

Sensex falls 1,200 points following the hike   New Delhi: The equated monthly installments (EMIs) on loans are all set to get bigger. Reserve Bank of India (RBI) Govrnor Shaktikanta Das on Wednesday announced an increase of 40 bps in the repo rate with immediate effect. The new rate is now 4.4 per cent. The...

RBI reduces growth forecast, keeps key rates unchanged

Reverse repo rate raised by 40 bps   New Delhi: The Reserve Bank of India (RBI) has kept the benchmark repo rate unchanged once again. This is for the 11th time that the rate has remained unchanged. However, the Monetary Policy Committee has reduced the forecast for growth. The inflation is predicted to rise further....

New RBI schemes will expand scope of investment in country, says PM Modi

PM Modi launched 2 customer-centric RBI schemes on Friday New Delhi: Prime Minister Narendra Modi on Friday launched two customer-centric initiatives of Reserve Bank of India (RBI) via video conferencing. The two schemes are Retail Direct Scheme and the Reserve Bank – Integrated Ombudsman Scheme. Union Minister of Finance and Corporate Affairs Nirmala Sitharaman and...

PM Modi to launch 2 customer-centric initiatives of RBI on Nov 12

New Delhi: Prime Minister Narendra Modi will launch two innovative customer centric initiatives of the Reserve Bank of India (RBI) on Friday, November 12. The launch will happen at 11 am via video conferencing. These initiatives are the RBI Retail Direct Scheme and the Reserve Bank -Integrated Ombudsman Scheme. According to a release, the RBI...

RBI revises timings for currency, debt markets from April 7 amid coronavirus pandemic

The Reserve Bank of India (RBI) on Friday announced changes in timings for currency and debt markets with effect from April 7 due to the outbreak of coronavirus. Currency and debt markets will open at 10:00 am and close at 2:00 pm till April 17, RBI said in an official notification. “The unprecedented situation created...

Crisis for Rajkot Smart City, Rs 164 Cr trapped in Yes Bank

Rajkot: After the PMC bank, the financial crisis of Yes Bank has started to worsen. The Reserve Bank of India has set a limit to withdraw money on Yes Bank, which is facing financial crisis. It has restricted the withdrawals that customers can make from their Yes Bank accounts to Rs 50,000 until April 3,...

Congress Leader P Chidambaram Blame Modi Govt For Yes Bank Crisis

Union minister and Congress leader P Chidambaram has blame the Modi government through the Yes Bank crisis. Chidambaram alleged that bad loans have increased four times under NDA rule and demonetisation has worsened the situation. He asked whether it was right that SBI was looking for an investment opportunity in Yes Bank? Why should SBI...

‘I am very much in India but didn’t have much to say about RBI decision’: Yes Bank founder Rana Kapoor

Yes Bank founder Rana Kapoor on Friday said that he is very much in India but didn’t have much to say about the Reserve Bank of India’s surprise decision. The Reserve Bank of India has set a limit to withdraw money on Yes Bank, which is facing financial crisis. It has restricted the withdrawals that...

RBI Limits Yes Bank’s Withdrawal to Rs. 50,000

The Reserve Bank of India has set a limit to withdraw money on Yes Bank, which is facing financial crisis. It has restricted the withdrawals that customers can make from their Yes Bank accounts to Rs 50,000 until April 3, 2020. The RBI action follows the lender’s inability to raise funds that would have helped...

PSBs Hit By Fraud Cases of Rs 1.17 Lakh cr in Apr-Dec 2019, Reveals RTI

According to information obtained from the Right to Information (RTI for the first 9 months of the current financial year, April-December, 2019. A total of 8,926 cases of fraud involving Rs 1.17 lakh crore hit 18 public sector banks during the first three quarters (April-December) of the current fiscal. The country’s largest lender State Bank...

RBI Turns the Prospect of Cheaper Loan at Policy Meet Today

New Delhi: The Reserve Bank of India has turned the prospect of a cheaper loan, so the RBI will not cut the report. The decision was taken at a meeting of the RBI’s Monetary Policy Committee (MPC). After the RBI decision the repo rate will be 5.15%. According to the RBI GDP growth has been...