RBI

'RBI to soon announce rules for on-tap banking licenses'

'RBI to soon announce rules for on-tap banking licenses'Kolkata: The Reserve Bank of India (RBI) would soon come out with policy guidelines for differentiated banking licenses which would be given on tap, deputy governor of the apex bank R Gandhi said.

Besides, he criticised banks for not extending financial assistance to the micro, small and medium size enterprises (MSMEs) and asked lenders to consider the working dynamics of this sector while extending credit.

India's forex reserves fall $273.8 mn to $312 bn

India-forex-reservesMumbai: India's forex reserves fell by USD 273.8 million to USD 312.382 billion in the week to May 30, mainly on account of a drop in currency assets.

After weeks of gains, the reserves nosedived by a whopping USD 2.268 billion to USD 312.656 billion in the previous week.

Foreign currency assets (FCAs), a major constituent of the overall reserves, dipped by USD 269.3 million to USD 285.291 billion in the period under review, Reserve Bank said in a statement.

ANZ India gets RBI nod to open two branches

ANZ-IndiaMumbai: Australia and New Zealand Banking Group (ANZ) on Thursday said that it has received in-principle approval from the Reserve Bank to open two new branches.

The new branches will come up Gurgaon, NCR, and outer Bangalore, the bank said in a statement.

The in-principle approval is for 12 months and the bank will finalise its plans within that time and seek final approval then and decided on the branch openings, ANZ India spokesperson said when sought the opening date.

RBI monetary policy aims at balancing growth, inflation: Jaitley

RBINew Delhi, June 4 - Finance Minister Arun Jaitley has described the RBI's second bi-monthly monetary policy as a calibrated approach aimed at striking a balance between growth and inflation.

The RBI has reduced the SLR ( statutory liquidity ratio ) by 50 basic points while maintaining the repo rate as unchanged

In a statement issued here last evening, Jaitley said that it is a priority for the government to maintain a balance between growth and inflation.

RBI keeps rates unchanged, unlocks Rs 40,000 cr of bank funds

RBIMumbai: Committed to keep inflation under check, RBI Governor Raghuram Rajan on Tuesday left key rates unchanged and unlocked about Rs 40,000 crore of funds by reducing the amount of deposits banks are required to park in government securities.

This is the second time in a row that interest rates have been left unchanged amid demands for moderation to spur growth.

The repo rate, at which the Reserve Bank of India lends to banks, has been retained at 8 percent, while the statutory liquidity ratio (SLR) for banks has been cut by 0.5 percent to 22.5 percent with effect from June 14.

RBI's monetary policy review today; interest rate change unlikely

RBINew Delhi: The Reserve Bank of India may maintain the status quo with regard to the key interest rate in its monetary policy review Tuesday in view of the need to curb inflation, which has remained stubbornly high.

RBI Governor Raghuram Rajan on Sunday called on Prime Minister Narendra Modi and is believed to have discussed the macro-economic situation.

Rajan kept the policy rate unchanged at 8 percent at the previous review on April 1 as inflation, especially of food items, hovered at over 8 percent. Food inflation in April stood at 9.66 per cent and retail inflation at 8.59 percent.

RBI may keep key interest rate unchanged on Tuesday

RBINew Delhi: The Reserve Bank of India may maintain the status quo with regard to the key interest rate in its monetary policy review tomorrow in view of the need to curb inflation, which has remained stubbornly high.

RBI Governor Raghuram Rajan yesterday called on Prime Minister Narendra Modi and is believed to have discussed the macro-economic situation.

Rajan kept the policy rate unchanged at 8 per cent at the previous review on April 1 as inflation, especially of food items, hovered at over 8 per cent. Food inflation in April stood at 9.66 per cent and retail inflation at
8.59 per cent.

NSE Nifty bounces up, ends at 7,350 ahead of RBI meet

NSE Nifty bounces up, ends at 7,350 ahead of RBI meetMumbai: After a two-day pause, the buoyant market flared up amid a slew of feel-good factors ahead of the RBI's monetary policy review meet tomorrow with hectic buying in key infra, banking, energy, metal and realty counters rallied the index by 132.55 points to end at 7,362.50 at the National Stock Exchange (NSE) Monday.

The investors sentiment bolstered by the positive momentum in country's manufacturing sector by HSBC (PMI) survey to 51.4 in May, along with good FII buying and better than expected Q4 result led the market momentum.

RBI likely to hold interest rates in Tuesday policy review

NRBI likely to hold interest rates in Tuesday policy reviewew Delhi, June 2 : The Reserve Bank of India (RBI) is likely to keep interest rates unchanged when it reviews its monetary policy Tuesday as its first major exercise after the installation of the new union government.

RBI policy review Tuesday likely to hold rates

New Delhi, June 1 : The Reserve Bank of India (RBI) is likely to keep rates unchanged when it reviews its monetary policy Tuesday, its first exercise after the installation of the new union government.RBI

Known for the primacy he accords to controlling inflation, RBI Governor Raghuram Rajan gave an indication Friday when he told reporters in Tokyo that the "government and the central bank have both stressed on the need to bring down inflation while respecting the fact that growth is very weak".

The RBI is expected to keep its repo rate (at which it lends money to commercial banks) unchanged at 8 percent.

India's forex reserves down by $2.26 bn

India-forexMumbai, May 31 : India's foreign exchange (forex) reserves declined by $2.26 billion to $312.65 billion for the week ended May 23, led by a sharp fall in overseas currency assets, Reserve Bank of India (RBI) data showed.

The reserves have fallen for the first time in the last five weeks.

The reserves had risen by $1.09 billion to $314.92 billion for the week ended May 16. For the week ended May 9, the Forex had gained by $1.97 billion to $313.83 billion.

RBI to balance growth and inflation: Rajan

Raghuram-RajanNew Delhi, May 27 : Reserve Bank of India (RBI) Governor Raghuram Rajan Tuesday said the central bank would work to strike a balance between reviving economic growth and containing inflation.

Talking to reporters after meeting newly sworn-in Finance Minister Arun Jaitley at North Block here, Rajan said controlling inflation would be one of the biggest challenges for the RBI and the government in the coming months.

RBI to have regular process of bank licences: Rajan

Raghuram-RajanNew Delhi, May 20 : Reserve Bank of India Governor Raghuram Rajan Tuesday said the central bank would soon announce a regular process of granting bank licences, ending the current system of giving it in tranches.

“The Reserve Bank of India is committed to freeing entry in banking,” Rajan said at an event organised by the Competition Commission of India here.

India's forex reserves up $1.94 bn

India-forexMumbai, May 10 : India's foreign exchange (forex) reserves rose by $1.94 billion to $311.85 billion for the week ended May 2, led by a sharp jump in overseas currency assets, Reserve Bank of India (RBI) data showed.

The reserves had gained $499.8 million to reach $309.91 billion for the week ended April 25.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $2.54 billion to $284.57 billion in the week under review.

The foreign currency assets had risen by $493.2 million to $282.03 billion in the previous week.

India's forex reserves rise by $500 mn

India's forex reserves rise by $500 mnMumbai, May 3 : India's foreign exchange (forex) reserves rose by $499.8 million to $309.91 billion for the week ended April 25, led by a sharp jump in overseas currency assets, Reserve Bank of India (RBI) data showed.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $493.2 million to $282.03 billion.

Foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.

India's forex reserves down by $31 million

India-forexMumbai, April 26 : India's foreign exchange (forex) reserves fell by $31.6 million to $309.41 billion for the week ended April 18, Reserve Bank of India (RBI) data showed.

There was a sharp decline in foreign currency assets component of forex in the week under review.

For the week ended April 11, the forex reserves had risen by $2.79 billion to $309.44 billion.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, fell by 16.2 million to $281.53 billion.

India's forex reserves rise to $306.64 bn

India-forex-reservesMumbai, April 12 : India's foreign exchange (forex) reserves increased by $2.97 billion to $306.64 billion for the week ended April 4, Reserve Bank of India (RBI) data showed.

The forex reserves have soared past $300 billion mark for the first time since December 2011.

This is the sixth consecutive week of increase in the country's forex reserves as overseas investors poured in money in local bonds and stock markets. The forex reserves had risen by $5.03 billion and $1.34 billion in the previous two weeks.

Rupee’s fall being linked to RBI’s dollar buying spree

Rupee’s fall being linked to RBI’s dollar buying spreeThe ongoing depreciation in the value of rupee is being linked to suspected dollar buying by the Reserve bank of India (RBI).

The partly-convertible Indian rupee traded at 60.30 per U. S. dollar in morning session on Friday, at a weaker level than its previous close of 60.1650/1750 per dollar.

While demand for dollar by importers is surely a factor behind decline of the local currency against the U. S. dollar, many analysts are of the view that the central bank is also buying dollars in to increase its foreign exchange (forex) reserves.

Issuing bank licences has nothing to do with politics: RBI

Raghuram-RajanMumbai, April 1: The granting of new bank licences has no link with politics and the process is purely economic and regulatory, Reserve Bank of India Governor Raghuram Rajan said Tuesday.

"This (issue of bank licence) is not in any way a political process, it is an economic and regulatory process and is to be seen as distant and different (from politics)," Rajan told media persons here after announcing the RBI's monetary policy.

RBI keeps key policy rates unchanged

RBI keeps key policy rates unchangedNew Delhi, April 1 - The Reserve Bank of India (RBI) left key interest rates unchanged in its first bi-monthly monetary policy review Tuesday.

The repo rate or the interest that banks pay when they borrow money from the RBI to meet their short-term fund requirements, is left unchanged at 8 percent, while the reverse repo rate, or the interest that the RBI pays to commercial banks when they park their surplus short-term funds with the central bank, is adjusted to 7 percent. (IANS)




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