Reserve Bank Of India | The Asian Age

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RBI directs Yes Bank to appoint successor to Rana Kapoor by February 1

Reserve Bank has refused to give an extension to Yes Bank MD and CEO Rana Kapoor.

17 Oct 2018 5:12 PM

Mobile wallets such as the one run by SoftBank and Alibaba-backed Paytm have become popular in India after a ban on high-value currency in late 2016 pushed people to pay digitally.

RBI lays out rules to make mobile wallet payments seamless

Digital wallet companies, if they so desire, can now use a state-backed payments network.

17 Oct 2018 7:24 AM

The RBI will not relax the October 15 deadline for global financial technology (fintech) companies to comply with its data localisation norms in the public interest, according to sources.

RBI sticks to October 15 deadline for data localisation in public interest

The central bank in April gave six months time to global payment companies to store transaction data of Indian customers within India.

14 Oct 2018 1:05 PM

WhatsApp ready with system to comply with RBI’s norms

In April, the Reserve Bank of India (RBI) came out with a circular regarding data localisation policy for payment system providers.

10 Oct 2018 12:35 AM

Messaging platform WhatsApp on Tuesday said it has set up a system in India that stores payments-related data locally in the country to comply with RBI regulations. (Photo: Pixabay)

WhatsApp sets up system to store payments data locally as per RBI norm

RBI had given time till October 15 to comply with the mandate.

09 Oct 2018 12:38 PM

Federal Bank on Monday said the Reserve Bank has approved proposal to sell up to 45 per cent stake in NBFC arm Fedfina to private equity firm True North.

Federal Bank gets RBI nod to sell 45 pc stake in NBFC arm to True North

The lender said that Reserve Bank earlier last week gave approval for the proposed transactions.

08 Oct 2018 4:36 PM

Finance Minister Arun Jaitley on Monday met RBI Deputy Governor B P Kanungo to discuss RBI's data localisation norm for global financial technology companies. (Photo: ANI)

Arun Jaitley meets RBI DG, IT Secretary for data localisation

The meeting was also attended by Subhash Chandra Garg, Rajiv Kumar and Ajay Prakash Sawhney.

08 Oct 2018 4:17 PM

Shares of a few non-banking financial companies (NBFCs) took a hit on Monday after the Reserve Bank of India (RBI) said on Friday it was looking at strengthening guidelines for such entities to avoid rollover risks.

Non-banking financial companies slip as RBI plans to strengthen norms

Dewan Housing Finance Corporation Ltd’s stock fell as much as 12.3 per cent.

08 Oct 2018 2:41 PM

The Reserve Bank on Wednesday extended the five-year-old restrictions on business activities of Nashik-based urban cooperative lender Shree Ganesh Sahakari Bank by another three months.

RBI extends curbs on Shree Ganesh Sahakari Bank by 3 months

As per the extension, the cooperative lender will be under "directions" till December 29, 2018, it said.

04 Oct 2018 12:04 PM

With the rupee continuing to touch new lows, the Reserve Bank on Wednesday allowed forex borrowings for working capital by oil marketing companies--the largest consumers of foreign currency--under the automatic route with immediate effect.

RBI allows oil marketing firms to raise USD 10 billion from overseas

OMCs will now be able to raise external commercial borrowing for working capital purposes.

03 Oct 2018 7:44 PM

South-based Federal Bank has been penalised Rs 5 crore for non-compliance on reporting of large borrower exposures and non-payment of customer compensations, among other deficiencies, the Reserve Bank said on Wednesday.

Federal Bank fined Rs 5 crore for non-compliance of RBI norms

The lender was found to have not complied with RBI directions on reporting of data on CRILC.

03 Oct 2018 7:24 PM

Ahead of the Reserve Bank's monetary policy announcement, mortgage lender HDFC on Monday increased its retail prime lending rate (RPLR) by 10 basis points with immediate effect. The new rates vary from 8.80 to 9.05 per cent on various slabs of loans. (Photo: Youtube)

HDFC Bank raises retail lending rate by 10 basis points

Punjab National Bank had increased its benchmark lending rates or MCLR for short-term loans by up to 0.2 per cent.

01 Oct 2018 4:41 PM

Private sector lender Yes Bank on Monday said the bank is fully geared up for the succession plan for the post of its MD and CEO and it will finalise two external experts for search committee by October 7.

Fully geared up for succession plan, says Yes Bank

The RBI had last month curtailed the three-year term that Yes Bank's board had sought for its MD and CEO Rana Kapoor.

01 Oct 2018 1:23 PM

RBI to inject Rs 36,000 crore into system in October

It will inject Rs 36,000 crore liquidity into the system through purchase of government bonds.

01 Oct 2018 11:33 AM

The government and regulators would make every effort to prevent the risk of “contagion” in credit markets resulting from a scare caused by two non-banking financial companies (NBFC), a senior government advisor said on Wednesday.

Govt to take appropriate action to avoid 'market freeze': govt advisor

The finance ministry, RBI and SEBI are closely following the credit markets.

26 Sep 2018 5:38 PM

The RBI should consider lowering Cash Reserve Ratio (CRR) in addition to buying government bonds to ensure adequate liquidity, an official said on Tuesday.

RBI needs to cut Cash Reserve Ratio to improve liquidity: govt official

The RBI has tools like OMO (Open Market Operations) to manage liquidity.

25 Sep 2018 5:49 PM

The currency in circulation (CiC), which increased exponentially after the note ban in November 2016 under which as many as 99.9 per cent of them returned to the system, has seen some slowdown in expansion since May this year likely due to higher fuel prices and Reserve Bank's intervention in forex market, says a report. (Photo: PTI)

'Currency in circulation slows down on spike in crude, RBI selling dollars'

Since the beginning of May 2018, currency in circulation has been in the range of Rs 19-19.6 trillion, says the report.

24 Sep 2018 3:36 PM

The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) are closely monitoring recent developments in financial markets and are ready to take appropriate actions, if necessary.

Reserve Bank of India, SEBI closely monitoring financial markets

They are closely monitoring recent developments in financial markets and are ready to take appropriate actions.

24 Sep 2018 10:41 AM

The Reserve Bank has shortlisted five IT firms including Infosys and TCS for implementation of a centralised information and management system (CIMS) for seamless data collection and validations.

RBI shortlists Infosys, TCS, 3 other IT firms to implement CIMS

The central bank had invited of expression of interest in July for identification of solution provider for implementation of CIMS.

23 Sep 2018 6:07 PM

RBI unlikely to hike repo rate in October despite weak Rupee: study

Weakness in the rupee does not offer a sufficient alibi for a rate hike.

21 Sep 2018 5:30 PM

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Farrukh Dhondy