RBI

No harm in consulting with govt. before deciding monetary policy: Bimal Jalan

No harm in consulting with govt. before deciding monetary policy: Bimal JalanThere is no harm in central bank deciding monetary policy in consultation with the government, former Reserve Bank of India (RBI) Governor Bimal Jalan said.

Mr.  Jalan said that consulting the government before taking a monetary policy initiative would not amount to infringement on the central bank's independence.

India’s persistently high inflation finally appears to be easing

Raghuram-RajanFollowing a decline in vegetable prices, India's persistently high inflation finally appears to be easing.

According to a fresh poll by Reuters, consumer inflation possibly slipped to 9.92 per cent in December 2013, considerably down from 11.24 per cent in November. The estimated figure is the lowest consumer inflation figure in a round three months.

India's benchmark inflation, wholesale prices, also probably edged down in December to 7 per cent. In the previous month, wholesale price inflation was recorded at 7.52 per cent, the higest in as many as fourteen months.

RBI panel recommends setting up of specialised banks

RBISpecialised banks should be set up to cater to low income households and to ensure that all citizens, above the age of 18, have bank accounts by 2016, an RBI panel has recommended.

Ex-ICICI Bank executive director Nachiket Mor-headed panel was formed by Raghuram Rajan on the day of his taking over as the governor of the central bank.

The Mor report said, "By January 1, 2016 each resident, above the age of 18, would have an individual, full-service, safe, and secure electronic bank account."

India's forex reserves down by $192 million

India's forex reserves down by $192 millionMumbai, Dec 21 : India's foreign exchange (forex) reserves decreased by $192.8 million to $295.51 billion for the week ended Dec 13, Reserve Bank of India (RBI) data showed.

The reserves had soared by $4.40 billion to $295.70 billion in the week ended Dec 6, 2013.

Foreign currency assets, the biggest component of the forex reserves, fell by $191.1 million to $268.56 billion in the week under review, according to the RBI's weekly statistical supplement.

Foreign currency assets had increased by $5.01 billion to $268.75 billion in the previous week.

RBI not changing interest rates prudent: IOB chairman

M-NarendraChennai, Dec 18 : The RBI's decision to leave interest rates unchanged in its mid-quarter monetary policy review was a "prudent move", Indian Overseas Bank (IOB) chairman M. Narendra said Wednesday.

"The RBI's action to pause on policy rates is a welcome and prudent move at the present juncture," Narendra said in a statement.

"Money market conditions are likely to continue at the present level for the time being. The bond yields are likely to soften with an eye on future data," he added.

RBI leaves key policy rates unchanged despite high inflationary pressure

RBI leaves key policy rates unchanged despite high inflationary pressureReserve Bank of India (RBI) Governor Raghuram Rajan gave a pleasant surprise to India Inc on Wednesday by leaving key policy rates unchanged, despite insistent high inflationary pressure.

In its mid-quarter monetary policy review, RBI left the short-term lending rate untouched at 7.75 per cent, and the cash reserve ratio (CRR) at 4 per cent.

The central bank left the key policy rates untouched citing the prospect of easing retail prices and its concerns over persistent weakness in the domestic economy.

RBI decision not to hike repo rate

RBI decision not to hike repo rateThe move of RBI of not to hike repo rate is a welcome move and not a harsh move.

Yes inflation is on the high but as the RBI Governor mentioned that they still need to check more data on Inflation and they are also expecting a decrease in food inflation by this month, so if we talk about the overall economy, keeping the rate unchanged and not hiking is a better move.

In a surprise move, RBI keeps key rates unchanged

Raghuram-RajanMumbai, Dec 18 : In an unexpected move, the Reserve Bank of India (RBI) on Wednesday surprised markets by leaving all key policy rates unchanged.

The Reserve Bank, in its Mid-Quarter Monetary Policy Review, kept its short-term lending rate unchanged at 7.75 per cent, and the Cash Reserve Ratio steady at 4 per cent.

RBI Governor Raghuram Rajan said the apex bank will take calibrated action in the future, based on inflationary trends and action by the U. S. Federal Reserve.

Bitcoins will require several regulatory approvals to take off in India

Bitcoins will require several regulatory approvals to take off in IndiaIndia's first bitcoin conference is taking place this Sunday, and the domestic ecosystem surrounding the volatile virtual/digital currency is finally all set to take-off.

U. S.-based Buttercoin is said to be among the three different companies that are pursuing discussions with some Indian banks and financial institutions to create a domestic exchange to allow the purchase and sale of bitcoins.

India's forex reserves up by $4.40 billion

India's forex reserves up by $4.40 billionMumbai, Dec 14 :  India's foreign exchange (forex) reserves jumped by $4.40 billion to $295.70 billion for the week ended Dec 6, helped by a sharp increase in foreign currency assets, Reserve Bank of India (RBI) data showed.

This is the fifth consecutive week of gain in the country's foreign exchange reserves.

Forex reserves had soared by $5.03 billion to $291.30 billion during the week ended Nov 29, 2013.

RBI Governor urges political parties to pass key economic bills

Raghuram-RajanNew Delhi, Dec 11 : Reserve Bank of India (RBI) Governor Raghuram Rajan on Wednesday urged political parties to pass key economic bills for the betterment of the country.

Addressing the Delhi Economic Conclave 2013 on the theme'The Agenda for the Next Five Years', Rajan said:"A stable government post-elections cannot be taken for granted... it would be dangerous for parties to postpone necessary legislations with the idea of passing the legislation post-election. Post-election politics may become even more challenging for whoever assumes power."

Tata Sons withdraws application for bank licence

Tata Sons withdraws application for bank licenceMumbai, Nov 27 : Tata Sons, the holding company of the Tata Group, has withdrawn its application for a bank licence, the Reserve bank of India (RBI) said Wednesday.

In a separate statement, Tata Sons said Tuesday it wrote to the RBI, withdrawing the application for a new bank licence dated July 1, 2013.

RBI to grant self-regulatory status to microfinance associations

RBIThe Reserve Bank of India (RBI) has confirmed its decision to grant self-regulatory status to associations of non-banking financial firms that deal in microfinance.

Announcing the decision, the RBI said that the move would ensure effective monitoring of non-banking financial companies and microfinance institutions (NBFC-MFIs), and their compliance with set of laws and code of conduct.

The central bank added that the membership of NBFC-MFIs in the self-regulatory organisations (SRO) would be seen as a mark of confidence.

Adopt Aadhaar or move to EMV chip/PIN tech for card-based transactions: RBI

AADAARBanks might adopt Aadhaar as additional authentication or move to EMV (Euro pay MasterCard Visa) chip and pin technology to ensure security in card-based payment transactions, the Reserve Bank of India (RBI) suggested.

The central bank also said that all new card present infrastructures must be enabled with EMV chip and Pin technology as well as Aadhaar acceptance.

In a notification to the banks, the RBI said, "In respect of cards . banks may take a decision whether they should adopt Aadhaar as additional factor of authentication or move to EMV chip and Pin technology for securing the card present payment infrastructure."

RBI expresses concern over PSU banks’ deteriorating capital positions

RBI expresses concern over PSU banks’ deteriorating capital positionsThe Reserve Bank of India (RBI) on Thursday expressed its concern over the worsening capital positions of government-run banks.

In its annual 'Trends & progress of banking in 2012-13' report, the RBI said that public sector banks' CRAR (capital to risk-weighted assets ratio) under Basel I and II stood at 11.31 per cent and 12.38 per, respectively, at the end of March 2013.

The banks' CRARs under Basel I and II were thus well above the stipulated 9 per cent norm.

Dollar swap window will be closed on Nov. 30: RBI

Reserve Bank of IndiaThe Reserve Bank of India (RBI) on Friday declared that the dollar swap window would be closed on November 30; however, banks which will get firm commitment from international financial institutions will be able to continue availing the special incentive till December 31, 2013.

The dollar swap window was introduced provide a boost to the country's forex (foreign exchange) buffer and strengthen the rupee.

RBI raises concern over banks' bad loan, asset quality

RBI raises concern over banks' bad loan, asset qualityMumbai, Nov 21 ; The Reserve Bank of India (RBI) Thursday voiced concern over the rising non-performing assets or bad loans of banks and said it would focus on monitoring their asset quality.

In a report on Trend and Progress of Banking in India - 2012-13, the RBI said weakening domestic macroeconomic conditions combined with the continuing subdued global growth posed challenges to the banking sector during 2012-13.

“However, the comfortable capital base continues to lend resilience to the Indian banking sector,” it said.

Indian industry no longer an infant: Raghuram Rajan

Indian industry no longer an infant: Raghuram RajanIndian industry is no longer an infant that needed to be mollycoddled with subsidies by the government, Reserve Bank of India (RBI) Governor Raghuram Rajan said.

Speaking at Bancon 2013, Mr. Rajan said that Indian industry didn’t need to be treated like an infant. He even expressed concern over the industry’s frequent demands for protection and subsidies.

He added that giving protection to a domestic manufacturer cause cost disadvantage to some other domestic producer.

RBI allows FIIs to invest up to $5bn in credit enhanced bonds

RBI allows FIIs to invest up to $5bn in credit enhanced bondsAs part of its efforts to attract foreign capital, the Reserve Bank of India (RBI) has allowed foreign investors to make investments in locally issued credit-enhanced bonds.

The central bank on Monday announced that foreign institutional investors (FIIs) and qualified foreign investors (QFIs) would be able to invest up to US$5 billion in the credit-enhanced bonds issued by Indian companies.

RBI imposes further restrictions on import of gold

Reserve Bank of IndiaMumbai, Nov. 12  : The Reserve Bank of India has imposed more curbs on gold imports.

In a notification issued on Monday, the central bank said any authorisation such as Advance Authorisation or Duty Free Import Authorisation has to be utilised for import of gold meant for export purposes only, and added that no diversion for domestic use would be permitted.

The notification further states that entities or units in Special Economic Zones (SEZ) and Export Oriented Units, premier and star trading houses will be permitted to import gold for export only. (ANI)




Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate


Syndicate content