RBI announces special liquidity scheme for NBFCs and HFCs through a SPV
Mumbai/IBNS: In the bid to improve the liquidity position of the NBFCs and HFCs amid the sagging economic situation triggered by Covid-19 pandemic, the government has approved a special scheme to prevent potential systemic risk in the financial sector, the Reserve Bank said on Wednesday.
Reserve Bank of India doubles withdrawal limit of PMC Bank to Rs 1 lakh
Mumbai/UNI: The Reserve Bank of India (RBI) has raised withdrawal limit from fraud-ridden Punjab and Maharashtra Cooperative (PMC) Bank to Rs one lakh from Rs 50,000 while extending restrictions imposed on the bank for another six months.
India's foreign exchange reserves soar amid Covid-19 pandemic
Mumbai/IBNS: At a time when India is facing a fresh economic challenge triggered by coronavirus pandemic, the Reserve Bank of India said country's foreign exchange reserve has increased by USD 3.43 billion to a new all-time high of $493.48 billion for the week ended May 29 following handsome accumulation of the core currency assets.
RBI cuts repo rate of 40 basis points to 4 pc, term loan moratorium extended
Mumbai: The Reserve Bank of India on Friday announced a cut in the repo rate of 40 basis points to bring it down to 4 percent.
Indian Banks Association sends proposal to govt, RBI for setting up of 'Bad Bank'
Mumbai/IBNS: Indian Banks Association (IBA) has sent a proposal to set up a 'Bad Bank' to the Finance Ministry and the Reserve Bank of India (RBI), said a CNBC-TV18 report. A Bad Bank is named so as it houses all bad loans or non-performing assets.
RBI announces Rs 50,000 crore special liquidity facility for Mutual Fund
New Delhi/IBNS: The Reserve Bank of India on Monday announced it has opened a special liquidity facility worth Rs 50,000 crore for Mutual Funds.
Greatest emergency since Independence: Former RBI Governor Raghuram Rajan over COVID-19 situation
New Delhi/IBNS: Advising the Indian government to spend more on poor to manage the crisis caused by the Novel Coronavirus, former Reserve Bank of India (RBI) governor Raghuram Rajan has said the pandemic virus is the "greatest emergency since Independence".
Reserve Bank of India reduces timing of debt, currency market
Mumbai/UNI: In view of the lockdown following the outbreak of coronavirus, the Reserve Bank of India (RBI) has reduced the trading hours of debt as well as currency markets from April 7.
RBI cuts down trading hours for domestic money markets amid lockdown
Mumbai/IBNS: The money markets in India will now function 10 am to 2 pm from Apr 7 due to lower participation due to lockdown and social distancing, Reserve Bank of India (RBI) said on Friday.
India's corporate sector welcome's RBI repo rate cut amid COVID-19 outbreak
Mumbai/IBNS: The Indian corporate sector has reacted positively to the Reserve Bank of India's decision to slash the repo rate by 75 basis points to 4.4 per cent.
Standard Chartered Bank CEO hails RBI's cut down of interest rates
New Delhi/UNI: Standard Chartered Bank CEO Zarin Daruwala on Friday hailed RBI's step to cut interest rates by 75 basis points to 4.4 per cent and said that the bold steps initiated by the Monetary Policy Committee should help financial markets tide over the current situation.