Reserve Bank

Timelines
Amid coronavirus crisis, RBI extends loan moratorium till August

22 May 2020

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.

#LockdownRelaxation: Industries which will be operational from April 20

20 Apr 2020

#LockdownRelaxation: Industries which will be operational from April 20

India entered the second phase of the coronavirus-enforced lockdown on April 15, after Prime Minister Narendra Modi announced the extension of the nationwide lockdown till May 3 to contain the spread of the deadly COVID-19.

Coronavirus: 486 dead in India; 70% deaths in 5 states

18 Apr 2020

Coronavirus: 486 dead in India; 70% deaths in 5 states

India on Friday reported 14,300 cases of the coronavirus disease (COVID-19), including 486, data compiled from official state government statistics showed.

More services to be allowed after April 20: Details here

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.

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

27 Mar 2020

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.

Yes Bank resumes full banking services as RBI lifts moratorium

18 Mar 2020

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.

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

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.

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

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

14 Mar 2020

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).

Yes Bank depositors can now use IMPS/NEFT to pay dues

10 Mar 2020

Yes Bank depositors can now use IMPS/NEFT to pay dues

The crisis-hit lender Yes Bank on Tuesday allowed customers to make certain transactions using instant money transfer services.

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

09 Mar 2020

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.

Booked for corruption, Yes Bank's founder Rana Kapoor breaks down

09 Mar 2020

Booked for corruption, Yes Bank's founder Rana Kapoor breaks down

Rana Kapoor, the founder of crisis-hit Yes Bank, was on Sunday booked by the Central Bureau of Investigation (CBI) for alleged criminal conspiracy, cheating, and corruption.

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

07 Mar 2020

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

07 Mar 2020

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

06 Mar 2020

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

06 Mar 2020

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

06 Mar 2020

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.

India's five most influential and successful women in finance

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.

Telcos partially pay government dues; 'slim hope' for Vodafone-Idea

18 Feb 2020

Telcos partially pay government dues; 'slim hope' for Vodafone-Idea

Ailing telecom companies have paid their dues linked to adjusted gross revenue (AGR) in part to the government.

SBI home loans to get cheaper as lender slashes MCLR

07 Feb 2020

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.

Reserve Bank of India keeps repo rate unchanged at 5.15%

06 Feb 2020

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%.

Budget 2020: What to expect? When will it be presented?

17 Jan 2020

Budget 2020: What to expect? When will it be presented?

With the economy in crisis, all eyes are on the upcoming Union Budget for the fiscal year 2020-21.

Cards never used for online transactions will be disabled: RBI

17 Jan 2020

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.

BJP MP pacifies panicked Bengaluru bank depositors amid RBI restrictions

14 Jan 2020

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.

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

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.

Swiggy launches its own digital wallet, with limited capabilities

28 Dec 2019

Swiggy launches its own digital wallet, with limited capabilities

In a major move, food-tech giant Swiggy has launched its own digital wallet - Swiggy Money.

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

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?

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

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.

SBI will deactivate these debit cards by December 31

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.

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

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

07 Dec 2019

From December 16, you can make NEFT transactions 24x7

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

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

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.

Congress stages walkout in Lok Sabha over electoral bonds

21 Nov 2019

Congress stages walkout in Lok Sabha over electoral bonds

Members of Parliament (MPs) of the Congress party staged a walkout from the Lok Sabha on Thursday over the issue of electoral bonds. The party also protested the privatization of public sector units (PSUs).

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

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.

Mumbai: Two senior citizens faint protesting over PMC Bank crisis

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.

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

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

18 Oct 2019

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.

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

14 Oct 2019

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.

Union Minister Ravi Shankar Prasad withdraws 'no economic slowdown' comment

13 Oct 2019

Union Minister Ravi Shankar Prasad withdraws 'no economic slowdown' comment

Union Minister Ravi Shankar Prasad on Sunday withdrew his controversial statements from the day before wherein he cited the box office performance of three films as proof that India's economy is stable.

#EconomicSlowdown: World Bank cuts India's growth rate projection to 6%

13 Oct 2019

#EconomicSlowdown: World Bank cuts India's growth rate projection to 6%

The country's "well-learned" union ministers may want you to believe that there is no economic slowdown whatsoever, but data points otherwise.