RBI imposes monetary penalty on The Karad Urban Co-operative Bank Ltd
Mumbai/UNI: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 10 lakh (Rupees Ten lakh only) on The Karad Urban Co-operative Bank Ltd for contravention of certain directions issued by RBI under the Supervisory Action Framework.
Lakshmi Vilas Bank amalgamated with DBS Bank India Limited
Mumbai/IBNS: The crisis-hit Lakshmi Vilas Bank (LVB) is now amalgamated with DBS Bank India Limited (DBIL), the wholly owned subsidiary of DBS Group Holdings Ltd.
Lakshmi Vilas Bank to merge with DBS Bank, to become DBS Bank India from Nov 27
Mumbai/IBNS: The Reserve Bank of India (RBI) has notified that the crisis-stricken Lakshmi Vilas Bank (LVB) will be merged with the Indian arm of Singapore-based DBS Bank on Friday (Nov 27), after which all restrictions, including cap on withdrawal of Rs 25,000.
Sovereign Gold Bond Scheme 2020-21 opens today
Mumbai: The Sovereign Gold Bond Scheme 2020-21 will open for subscription from Monday, officials said.
Modi government to borrow Rs. 1.1 lakh cr on behalf of states for GST compensation
New Delhi/IBNS: After months of confrontation over the Goods and Services Tax (GST) dues, the Centre has decided to borrow Rs. 1.1 lakh crore on behalf of the states prompting Union Finance Minister Nirmala Sitharaman to explain the reason behind the government's change in stance over the issue, media reports said.
Industry welcome RBI's decision to keep lending rates unchanged
New Delhi: Different Indian organizations on Friday welcomed the Reserve Bank of India's decision to keep repo rate and reverse repo rate unchanged.
RBI keeps lending rates unchanged
Mumbai: Reserve Bank of India Governor Shaktikanta Das on Friday said the repo rate and reverse repo rate will remain unchanged.
RBI to announce Monetary Policy on Oct 9
Mumbai/IBNS: The Reserve Bank of India (RBI) will announce monetary policy on October 9.
Supreme Court allows Centre one more week to submit loan moratorium plan
New Delhi/IBNS: The Supreme Court on Monday extended the deadline to fix a moratorium plan to ease the burden on borrowers during the prevailing coronavirus crisis, said media reports.
Mumbai/UNI/IBNS: Yes Bank has fully repaid Rs 50,000 crore to Reserve Bank of India (RBI), it borrowed under the SLF (Special Liquidity Facility) amid the crisis faced last year, well ahead of time, Yes Bank Chairman Sunil Mehta has said in the bank's Annual General Meeting on Thursday, adding that the private lender's revival marks the first successful reconstruction scheme led by banks in India’s banking history,
Mumbai/IBNS: The Reserve Bank of India’s (RBI) framework for Covid-19 solutions is well thought and taken after due consultations, Governor Shaktikanta Das said Thursday, adding that the central bank’s response to COVID-19 is unprecedented.
Coronavirus act of God which affected GST collections: Nirmala Sitharaman
New Delhi/IBNS: Amid pressure from several states to compensate the revenue shortfall, Union Finance Minister Nirmala Sitharaman on Thursday said Novel Coronavirus is an act of God that has affected the Goods and Services Tax (GST).
RBI's one-time loan restructuring plan plugs the past gaps: Experts
Kolkata/IBNS: The current loan restructuring package by the Reserve Bank of India(RBI) with proper timelines mentioned in the guidelines has plugged all the gaps that were there previously, said Partha Pratim Sengupta, Managing Director & CEO, Indian Overseas Bank.
New measures to restructure loans by banks a 'durable' resolution says RBI Governor
Mumbai/IBNS: Ahead of the expiry of the six-month loan repayment freeze on August 31, Reserve Bank of India Governor Shakti Kanta Das in an interview to CNBC Awaz said the new measures introduced to enable the banks to restructure loans will provide a "durable" resolution to the businesses constrained for money due to Covid-19, save jobs and in turn revive the economy, said a Bloomberg report.
RBI keeps key rates unchanged after policy review
Mumbai/UNI: Maintaining an accommodative stance, the Reserve Bank of India (RBI) on Thursday kept key rates unchanged.