Reserve Bank Of India (RBI): News | Page 2

22 May 2020

Shaktikanta Das

Amid coronavirus crisis, RBI extends loan moratorium till August

Addressing the media on Friday, RBI Governor Shaktikanta Das said the central bank has brought down the repo rate by 40 basis points.

17 Apr 2020


More services to be allowed after April 20: Details here

The Centre has revised the list of what will be allowed after April 20 in areas where the impact of coronavirus is the least. Non-banking finance corporations and micro-finance institutions will be allowed to resume.

Struggling economy gets RBI's boost, big announcement for banks

With the economy stung drastically by the coronavirus pandemic, RBI Governor Shaktikanta Das addressed media for the second time in a month to announce key measures.

17 Apr 2020

Narendra Modi

Coronavirus: Stimulus 2.0 in mind, Modi and Sitharaman hold talks

With economic activity coming to a standstill for almost a month due to the coronavirus pandemic, Finance Minister Nirmala Sitharaman on Thursday met Prime Minister Narendra Modi to discuss a package that could keep the wheels churning.

RBI's 3-month EMI moratorium: All you need to know

Earlier in the day, the Reserve Bank of India (RBI) announced a few measures in view of the 21-day lockdown over coronavirus.

27 Mar 2020

Shaktikanta Das

Coronavirus: Day after Centre's economic package, RBI cuts repo rate

RBI has cut repo rate by 75 basis points, bringing it down from 5.15% to 4.4%, Governor Shaktikanta Das told media at a briefing on Friday. The reverse repo rate was reduced by 90 basis points to 4%.

Yes Bank resumes full banking services as RBI lifts moratorium

The ailing private lender Yes Bank on Wednesday confirmed that its banking services are now fully operational.

16 Mar 2020


India not immune to economic impact of COVID-19: RBI Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das addressed a press conference at the central bank's headquarters in Mumbai on Monday.

16 Mar 2020


RBI's new rules for debit, credit cards take effect today

Starting today, a set of new rules will apply to debit and credit cards to increase security and reduce the risks of cyber fraud.

Yes Bank rescue plan unveiled, withdrawals restrictions to be lifted

Crisis-hit Yes Bank got a lifeline after the Union Cabinet, chaired by Prime Minister Narendra Modi, notified a reconstruction plan backed by the State Bank of India (SBI).

How RBI and government cast net to nab Rana Kapoor

Yes Bank is spiraling downwards and its founder Rana Kapoor is in the custody of Enforcement Directorate. The Central Bureau of Investigation is also probing him over corruption charges.

Yes Bank crisis: In six months, depositors withdrew Rs. 18,000cr

The Yes Bank crisis may have been exposed last week, but depositors of the once famed lender anticipated trouble months ago, prompting them to withdraw their money.

SBI working on Yes Bank's reconstruction scheme, says bank chief

State Bank of India Chairperson Rajnish Kumar on Saturday said that the bank has received the draft scheme for the reconstruction of the crisis-hit Yes Bank.

Yes Bank founder Rana Kapoor's home raided by Enforcement Directorate

The Enforcement Directorate on Friday raided the home of Yes Bank founder Rana Kapoor in Mumbai.

Explained: The rise and fall of Yes Bank

Yes Bank depositors panicked when on Thursday, the Reserve Bank of India (RBI) capped cash withdrawals at Rs. 50,000.

Amid Yes Bank crisis, Sitharaman assures depositors' money safe

Finance Minister Nirmala Sitharaman on Friday gave assurance to the depositors of cash-starved Yes Bank.

Yes Bank crisis: Things to know if you're a customer

In a drastic move, the Reserve Bank of India (RBI) took over the board of private lender Yes Bank on Thursday night, while also putting a cap of Rs. 50,000 on withdrawals.

05 Mar 2020


Troubled Yes Bank under moratorium; withdrawals limited to Rs. 50,000

The Central government has imposed an order of moratorium on troubled private lender, Yes Bank, on Thursday as per the recommendation of the Reserve Bank of India (RBI).

05 Mar 2020


India's five most influential and successful women in finance

The world of finance used to be seen as an industry only for men for the longest time. However, that has changed in the last few years.

Supreme Court allows cryptocurrency trading, quashes RBI's ban

In a major development, the Supreme Court of India has allowed cryptocurrency trading in the country.

SBI home loans to get cheaper as lender slashes MCLR

India's largest lender, the State Bank of India (SBI) on Friday cut its lending rates.

06 Feb 2020

Repo Rate

Reserve Bank of India keeps repo rate unchanged at 5.15%

The Reserve Bank of India (RBI), kept the repo rate unchanged at 5.15%. The reverse repo rate also remained the same at 4.90%.

30 Jan 2020

Nirmala Sitharaman

Will prices of onion, tomato, potato go down? It's unlikely

Onion, tomato, and potato are the most prominent vegetables used across India, but a hike in their prices negatively affected household budgets.

17 Jan 2020

Debit Cards

Cards never used for online transactions will be disabled: RBI

In a major move, the Reserve Bank of India (RBI) has asked banks and card issuers to disable online payment facility on all credit/debit cards that have never been used for an online transaction or contactless payment.

14 Jan 2020

Lok Sabha

BJP MP pacifies panicked Bengaluru bank depositors amid RBI restrictions

Days after the Reserve Bank of India imposed regulatory restrictions on a co-operative bank in Bengaluru, Bharatiya Janata Party MP Tejasvi Surya assured panicked depositors that the Finance Minister was personally looking into the matter.

13 Jan 2020


Retail inflation recorded at 7.35% in December, highest in 5-years

India's retail inflation stood at 7.35% in December last year mainly due to the rise in vegetable prices, data released by the Ministry of Statistics & Programme Implementation (MoSPI) revealed on Monday.

21 Dec 2019


Bank KYC forms to start asking your religion: Here's why

Banks may soon start asking depositors to disclose their religion. What's the need for this?

14 Dec 2019


#FinancialBytes: What are neobanks? Here's all you need to know

Neobanks, the new digital-only entrants in the fintech space, have been taking the industry by storm not only in India but across the world.

09 Dec 2019


SBI will deactivate these debit cards by December 31

India's largest public sector bank, the State Bank of India (SBI), is planning to deactivate some debit cards by the end of this month.

08 Dec 2019


#FinancialBytes: What is advance tax and who should file it?

Income tax accounts for a significant part of the government's revenue, and it is the responsibility of taxpayers to pay the required tax on the income they earned during a year on time.

From December 16, you can make NEFT transactions 24x7

Bank customers will soon be able to make NEFT transactions any time, any day.

05 Dec 2019

Repo Rate

RBI keeps repo rate unchanged; lowers growth forecast

While many expected the Reserve Bank of India (RBI) to slash repo rates in December, the central bank, in a surprise move, kept them unchanged.

24 Nov 2019


#FinancialBytes: Lost credit card? Here's what you should do next

Credit cards are one of the widely-used cashless payment methods because of the convenience they offer.

08 Nov 2019


#NoteBanAnniversary: Ex-finance secretary says Rs. 2,000 notes can be demonetized

Exactly three years ago, Prime Minister Narendra Modi addressed the nation and wiped off Rs. 500 and Rs. 1,000 notes, making way for new Rs. 500 and Rs. 2,000 notes.

05 Nov 2019


PMC Bank crisis: RBI raises withdrawal limit to Rs. 50,000

The withdrawal limit for account holders of the crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank has been raised to Rs. 50,000, the Reserve Bank of India (RBI) said in a press release on Tuesday.

19 Oct 2019


Mumbai: Two senior citizens faint protesting over PMC Bank crisis

As depositors of scam-hit Punjab and Maharashtra Cooperative Bank (PMC) staged a protest outside the Reserve Bank of India (RBI) headquarters in Mumbai on Saturday, two senior citizens, who had joined the protest, fainted.

19 Oct 2019


PMC crisis: 83-year-old dies; couldn't withdraw funds for heart surgery

An 83-year-old account holder of the scam-hit Punjab and Maharashtra Co-operative (PMC) Bank died of heart attack in Mumbai on Friday, after failing to raise sufficient funds for heart surgery.

PMC Bank: SC dismisses petition to end cash withdrawal restrictions

On Friday, the Supreme Court refused to hear a petition filed on behalf of account holders in the Punjab and Maharashtra Co-operative (PMC) Bank seeking the lifting of restrictions on cash withdrawals.

16 Oct 2019


Soon, Personal Data Protection Bill will be tabled in Parliament

In a major development, Ravi Shankar Prasad, the Minister for Electronics and Information Technology, has said that the Personal Data Protection Bill is ready and will be tabled in the Parliament soon.

14 Oct 2019

Mumbai Police

PMC Bank crisis: RBI hikes withdrawal limit to Rs. 40,000

In a major relief for customers of the crisis-hit Punjab and Maharashtra Co-operative (PMC) Bank, the Reserve Bank of India (RBI) raised the withdrawal limit for account holders to Rs. 40,000, on Monday. Earlier, this limit was Rs. 25,000.

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