Tag: RBI
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Rates, rupee and rains to guide equity investors’ sentiments (Market Outlook)
By Rohit Vaid, Mumbai : The Reserve Bank of India’s (RBI) second monetary policy review for 2018-19, combined with the direction of foreign fund flows and global crude oil prices are expected to set the course for the key equity indices in the coming week. Market participants will follow the monsoon’s progress and the rupee’s…
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Finding the path to reviving India’s banking system
By Taponeel Mukherjee, The decision by the Reserve Bank of India (RBI) to grant banks the option to spread provisioning equally over up to four quarters for mark-to-market (MTM) losses on investments is one that merits discussion. These investments are those held in Available for Sale (AFS) and Held for Trading (HFT) accounts for the…
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RBI must ensure safety of proposed cryptocurrency: Assocham
New Delhi : Welcoming the RBI’s move to explore introduction of an official virtual currency in India, industry chamber Assocham on Sunday cautioned that extreme care be taken to ensure safety of the data trail that cryptocurrency transactions can leave behind. Placing a ban on all regulated entities, including banks, from dealing in virtual currencies…
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RBI policy meet outcome, macro-data to chart equity market’s course (Market Outlook)
By Porisma P. Gogoi, Mumbai : The Indian equity market, which will resume trade on Monday after a four-day-long break, will track domestic events like the central bank’s first bi-monthly monetary policy review for the 2018-19 financial year, along with the release of macro-economic and automobile sales data, for direction in the upcoming week. Along…
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RBI special measures on March 31 for government accounts
Mumbai : The Reserve Bank of India (RBI) has announced special measures for transaction of central and state government business by banks handling government accounts on March 31 in view of the closing of the financial year on that day. In a release late on Tuesday, the RBI also said special arrangements have been made…
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Credit cost to rise as LoUs issuance discontinued: SBI Ecowrap
New Delhi : The RBI’s decision to discontinue the Letters of Undertaking (LoUs) or Letters of Comfort (LoC) might increase the credit cost for imports as it will lead to a shift towards “other off-balance sheet” products, said a State Bank of India (SBI) report on Friday. According to SBI Ecowrap report, the shift to…
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Will do out best to break ‘unholy nexus’ between bizmen, bankers: Urjit Patel
New Delhi : Breaking his silence over the Rs 13,540 crore fraud at state-run Punjab National Bank (PNB), the Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday said the central bank, as the guard of people’s deposits at banks, will do its best to break the “unholy nexus”. “I have chosen to speak…
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RBI imposes Rs 10 lakh penalty on Equitas Small Finance Bank
Mumbai : The RBI on Thursday said it had imposed a penalty of Rs 10 lakh on Equitas Small Finance Bank for failing to comply with a licensing condition of obtaining prior approval from the central bank for certain actions. The licensing conditions are stipulated by the Reserve Bank of India (RBI) at the time…
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Bombay HC to hear PIL on missing notes between printing press and RBI
By Quaid Najmi, Mumbai : A public interest litigation — probably holding the key to the historic demonetisation of November 8, 2016 — filed by RTI activist Manoranjan Roy will finally come up for hearing at Bombay High Court here on February 12. The PIL was filed in 2015, on the basis of RTI replies…
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December CPI inflation over 5.2%, dashing hopes of RBI rate cut
New Delhi : Continuing rise in food and fuel prices pushed India’s annual retail inflation rate over the five per cent-mark in December, official data showed on Friday, putting paid to hopes of an interest rate cut by the RBI in the near future. According to the data furnished by the Ministry of Statistics and…