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.
HDFC gets new head, RBI approves Jagdishan as the bank MD and CEO
Mumbai/UNI: Private sector lender HDFC Bank said that RBI has approved the appointment of Sashidhar Jagdishan as MD and CEO of the Bank for three years from his date of taking charge, or from Oct 27, 2020, under Section 35B of the Banking Regulation Act 1949.”
RBI approves Jagdishan's appointment as HDFC Bank new MD, CEO
Mumbai/UNI: Private Sector lender HDFC Bank said that RBI has approved the appointment of Sashidhar Jagdishan as MD & CEO of the Bank for three years from his date of taking charge, or from October 27 2020, under Section 35B of the Banking Regulation Act 1949.”
New Delhi: Union Finance Minister Nirmala Sitharaman on Friday said that the government is working with RBI on the Industry’s need for the restructuring of loans due to the COVID-19 impact.
RBI predicts increase in gross NPAs of banks to 12.5 pc by March 2021
Mumbai/IBNS: The Reserve Bank of India released the Financial Stability Report (FSR) on Friday.
Economy showing signs of improvement but medium term outlook still uncertain: RBI Governor
Mumbai/IBNS: RBI Governor Shakti Kanta Das has said the economy has started showing signs of improvement with the easing of over two months of strict lockdown but "a very careful trajectory" has to be followed after the pandemic is over.
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.