Reserve Bank Of India | The Asian Age

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Forex reserves plunge below USD 400 billion mark

The country's forex reserves declined by USD 819.5 million to USD 399.282 billion for the week to September 7.

14 Sep 2018 7:42 PM

Retail inflation cooled to an 11-month low of 3.69 per cent in August mainly due to a fall in prices of kitchen items, including fruits and vegetables, official data showed on Wednesday. (Photo: AP)

Retail inflation cools to 11-month low of 3.69 per cent in August

The inflation based on Consumer Price Index (CPI) stood at 4.17 per cent in July and 3.28 per cent in August 2017.

12 Sep 2018 6:02 PM

The government and the RBI will do everything to ensure that the rupee does not depreciate to "unreasonable levels", the Finance Ministry said Wednesday as the currency slid to a lifetime low of 72.91 to the dollar. (Photo: AP)

'Govt, RBI to do everything to check rupee slide to unreasonable levels'

The rupee collapsed to a lifetime low of 72.91 against the dollar.

12 Sep 2018 4:13 PM

Internet major Google is learnt to have agreed to following the RBI's local data storage norm for payment services but wants time until December to comply with.

Google ready to comply with RBI norms for payment services, says official

Google wants time until December to comply with it.

10 Sep 2018 7:45 PM

The Reserve Bank of India (RBI) on Monday approved the appointment of Amitabh Chaudhry as the new Managing Director and CEO of Axis Bank for a period of three years, starting January next year.

RBI approves Amitabh Chaudhry's appointment as Axis Bank CEO

Chaudhry will be a successor to incumbent CEO Shikha Sharma.

10 Sep 2018 3:22 PM

Capital markets regulator Sebi may soon summon ICICI Bank's on-leave CEO Chanda Kochhar and her husband with regard to a probe into alleged regulatory lapses with regard to his business dealings, officials said on Sunday.

Sebi may summon Kochhars soon; board to discuss coordinated efforts with govt, RBI

The bank and Kochhar have been maintaining there has been no regulatory violation on their part.

09 Sep 2018 6:23 PM

The Reserve Bank of India has imposed a monetary penalty of Rs 1 crore each on the Union Bank of India, Bank of India and Bank of Maharashtra for failing to detect and report fraud in certain accounts on time.

3 banks fined by Reserve Bank of India for delay in fraud detection

The RBI, in three separate releases, said it has imposed a penalty of Rs 1 crore each on three state-run banks.

09 Sep 2018 2:40 PM

The Reserve Bank of India (RBI) is likely to conduct an open market operation (OMO) purchase this week to infuse liquidity into the banking system, which is further going to tighten on account of advance tax payments, say bankers.

RBI may conduct OMO this week to ease liquidity, say bankers

Nearly Rs 50,000-60,000 crore of additional liquidity will go out of the system due to advance tax payments.

09 Sep 2018 1:25 PM

Currency crisis: The rupee dilemma

With no signs of global issues easing up, the experts believe that the rupee may slide further.

09 Sep 2018 6:17 AM

RBI intervenes to support rupee at 72

That emboldened rupee bears and sent the currency to a record low of 72.11 to the dollar on Thursday.

08 Sep 2018 2:04 AM

Rupee has depreciated around 13% in the calend er year accompanied by rising crude oil prices.

India’s Rs 1Lakh-crore extra pinch

Weakness in rupee is likely to hit foreign debt obligations, oil imports.

08 Sep 2018 2:03 AM

The RBI on Friday tweaked norms for exchange of mutilated currency notes following introduction of Rs 2,000, Rs 200 and other lower denomination currencies. (Photo: PTI)

Reserve Bank of India tweak norms for exchange of defective currency

Public can exchange banks mutilated or defective notes at RBI offices and designated bank branches across the country.

07 Sep 2018 6:36 PM

India's current account deficit (CAD) as a percentage of GDP declined marginally to 2.4 per cent in the April-June quarter of 2018-19 against 2.5 per cent in the year-ago period, the RBI data released Friday showed.

Current account deficit eases marginally to 2.4 pc of GDP in Q1 FY2019: RBI

In value terms, the CAD was higher at USD 15.8 billion in April-June this year.

07 Sep 2018 6:15 PM

The Reserve Bank of India has imposed a Rs 1 crore penalty on Union Bank of India for failing to detect and report fraud on time.

RBI fines Union Bank Rs 1 crore for delay in fraud detection, reporting

However, the bank said that the amount of the penalty is not material considering the size of the bank.

07 Sep 2018 3:16 PM

The Reserve Bank of India (RBI) intervened heavily in the foreign exchange market on Friday, mounting a formidable defence of the 72 rupee to the dollar mark in a reversal of its light-handed approach in the last few weeks, dealers said.

RBI defends 72 rupee per dollar mark strongly: dealers

After briefly slipping to 72.04 to the dollar in early trade, the Indian rupee stayed above the 72 mark for most of the day.

07 Sep 2018 1:56 PM

Rural banking has been a great hurdle race ever since the government nationalised major commercial banks and mandated them to focus their thrust on villages.

The price of social banking

The IRDP alone accounted for 40 per cent of the losses incurred by commercial banks in rural lending in India.

06 Sep 2018 6:20 AM

Investment by Indian companies in their overseas ventures fell by more than 36 per cent to USD 1.39 billion in July this year, the Reserve Bank data showed.

Indian cos foreign investment decline 36 pc to USD 1.39 bn in July

In June 2018, domestic firms invested in USD 2.07 billion in their ventures located out of India.

04 Sep 2018 5:19 PM

Patel completes two years in office as the RBI Governor.

Urjit Patel completes two years as RBI Governor

Patel has been steadfast in maintaining the central bank's independence and in handling the bad loan cases.

03 Sep 2018 9:05 PM

Reserve Bank deputy governor BP Kanungo on Friday expressed concerns over the imbalances in state finances, and specifically on their high borrowings and the frequent farm loan waivers.

RBI deputy governor Kanungo worried over rising debt levels of states

Kanungo said the time has come for each state to manage its own borrowings.

31 Aug 2018 4:20 PM

NITI Aayog vice-chairman Rajiv Kumar on Thursday said that the objective of demonetisation was to help reduce cash transactions.

Objective of demonetisation was to reduce cash transactions: Niti Aayog VC

RBI report revealed that almost all demonetised notes were returned to banks.

31 Aug 2018 12:52 PM

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