NEW DELHI : India’s central bank governor, renowned for forecasting the 2008 financial meltdown, has warned that the world economy faces risk of another market crash as asset prices surge. Increasing global financial instability stems from investors ... Himalayan times, 2 months ago
Indian firms may take a hit if the rupee falls further - Rediff.com, 6 days ago
System has flexibility to deal with loans: Rajan on Coalgate - Rediff.com, 3 weeks ago
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The Reserve Bank of India is reportedly not keen on accepting banks’ demand to increase the interchange fee, the amount one bank charges another if its consumer uses the automated teller machine of the non-home bank. “There is already a cap on ATM transactions. "If we increase the fee further and based on it the banks also make changes on the amount they want to be passed on to the customer, it can hurt the customer further. As a result, the regulator is not very comfortable ...Rediff.com, 1 month ago RBI to cut rates by 75 bps in 2015, starting Feb: Bank of America Rediff.com, 2 weeks ago RBI to re-examine FII limits in government bonds Rediff.com, 3 weeks ago RBI keeps rates on hold Himalayan times, 3 weeks ago
A week after the official launch of the Prime Minister’s Jan Dhan Yojana, the Reserve Bank of India has begun a review of the financial inclusion mission.A senior RBI official said the regulator was focusing on performance of banks' statewise and in each district. The ambit will also cover the system’s readiness to track the work of business correspondents, a key link between bank and those being covered by the programme.“Besides doing checks, the effort is to find out ...Rediff.com, 1 month ago Robust review before PSU bank chiefs are selected Rediff.com, 1 month ago
Sharp rate cuts are in store in 2015, as the Reserve Bank of India’s commitment to bring down inflation might make room for these, even if the US Federal Reserve starts raising interest rates, experts believe.RBI is committed to bringing down retail inflation to eight per cent by January 2015 and six per cent by January 2016. Though CPI-based inflation rose to 7.96 per cent in July from 7.46 per cent in June, it is seen stabilising in the months ahead.“Lower inflation would enhance ...Rediff.com, 1 month ago
There are enough dovish signals in the governor’s statement to indicate a pro-growth policy going forward.In line with market expectations, Reserve Bank of India governor Raghuram Rajan on Tuesday left key interest rates unchanged. The repo rate and cash reserve ratio (CRR) remained at 8 per cent and 4 per cent, respectively. However, the RBI cut statutory liquidity ratio (SLR) by 50 basis points to 22 per cent in an attempt to free up resources for banks. Though the governor seems more ...Rediff.com, 2 months ago
The Reserve Bank of India issued new guidelines on Tuesday on the reporting of bad debt and the working of the Joint Lenders’ Forum.It said banks will be permitted to report their SMA-2 (Special Mention Accounts) and JLF formations on a weekly basis, at the close of business on every Friday. If a holiday, banks will have to report the details on the next working day.Earlier, RBI had set up three categories of SMAs. These were SMA-0, where principal or interest payment was not overdue for ...Rediff.com, 3 days ago
Deepak Parekh, chairman of Housing Development Finance Corporation (HDFC), India’s largest mortgage lender, says the exuberance in industry about the new government is justified but big ideas articulated by the prime minister need speedy implementation. In an interview with Shyamal Majumdar & Manojit Saha, he also backed the Reserve Bank of India’s decision to hold interest rates and said he expected only a marginal rate cut in 2015. Excerpts: Do you share the general exuberance ...Rediff.com, 2 weeks ago
The next announcement from the Reserve Bank of India about its monetary policy will be on September 30. In spite of Governor Raghuram Rajan’s repeated concerns about inflation, many think there may still be a loosening of stance.For the first time in several years, credit growth fell below 10 per cent recently, as Table 1 shows; deposit growth, meanwhile, is holding firm several percentage points higher. And, concerns about growth persist. As Table 2 shows, the index of industrial ...Rediff.com, 1 month ago RBI best judge on policy rate, says Jaitley Rediff.com, 2 months ago Why RBI is right in maintaining status quo Rediff.com, 2 months ago
The Reserve Bank of India on Tuesday relaxed 'know your customer' norms by allowing self-certification of documents needed for opening bank accounts. "With a view to easing difficulties faced by common people while opening bank accounts and during periodic updating, guidelines on KYC will be further simplified with immediate effect," the central bank said in its monetary policy statement. RBI has asked banks to ‘allow self-certification; accept a certified copy of the document by ...Rediff.com, 3 weeks ago
The Reserve Bank of India on Tuesday said the country's gross domestic product growth, which it estimates to be 5.5 per cent in the current fiscal, will improve to 6.3 per cent in 2015-16. "For 2014-15, real GDP growth is projected to lie between 5 and 6 per cent, with a central estimate of 5.5 per cent. . . for 2015-16, real GDP growth is projected to rise to 6.3 per cent," the central bank said in its Monetary Policy report released on Tuesday. It said the 5.7 per cent growth in the first ...Rediff.com, 3 weeks ago HSBC sees higher India growth, lower inflation in coming quarters Rediff.com, 1 month ago India on its way back to 7% growth, 6% inflation: Citigroup Rediff.com, 2 months ago
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