RBI

IL&FS Scam: Enforcement Directorate Summons MNS Chief Raj Thackeray Over Probe of Rs 860 Crore

The ED has summoned the firebrand Maharashtra politician for his alleged links to a construction company Kohinoor CTNL which had received a loan and equity investments from the IL&FS amounting to Rs 860 crore.

Rahul Gandhi Writes to RBI Governor, Seeks Relief for Flood-Hit Kerala Farmers

The Congress leader on Monday had visited flood-affected areas in his Wayanad Lok Sabha constituency in Kerala, including worst-hit Puthumala, and assured all help to those hit by the calamity to rebuild their lives.

Rahul Gandhi Writes to RBI Governor Shaktikanta Das, Asks For Relief For Kerala Farmers On Repayment of Loans

Kerala and Rahul Gandhi's Lok Sabha constituency Wayanad have seen heavy rainfall and destruction of lives and properties due to the floods in the state. Over a 100 people have lost their lives in Kerala due to flood related incidents, a year after the state was hit by the worst ever floods in a century.

RBI Likely to Slash Interest Rates Again in October and Early 2020: Report

Two Days after the Monetary Policy Committee, led by Reserve Bank of India Governor Shaktikanta Das, cut the Repo Rate by 35 basis points to 5.40 percent and Reverse Repo Rate at 5.15 percent, reports are arriving the RBI might consider slashing interest rates again at its October meeting and early next year.

Economic Crisis in India: Task Force on Offshore Rupee Markets Submits Report to RBI Governor, Asks Extension of Foreign Exchange Market Hours

With the Indian economy on a declining streak and rupee losing against the US dollar for the fifth consecutive day, the Reserve Bank of India on Thursday informed that its task force on offshore rupee markets has submitted its report to the Governor Shaktikanta Das. They have recommended the extension of FX market hours and others.

NEFT Transactions May Become Available 24x7 From December Onwards, Says RBI

The RBI is mulling plans to make the online payment system - the National Electronic Funds Transfer (NEFT) - available 24x7 from December 2019 onwards. With this, the customers would be able to make online transactions upto Rs 2 lakh to any of the beneficiaries at any point time.

Food Inflation Plunges to 2.4% in June, Essential Commodities to Get Costlier Due to Uneven Rainfall: RBI

Hours after reducing the repo rate by 35 basis points and scaling it to 5.40 per cent, RBI informed that food inflation accelerated to 2.4 percent in June 2019 from 2 percent in May. The apex monitoring body even stated that food items would continue to get costlier due to uneven rainfall.

SBI Makes Home Loan Cheaper After RBI's 4th Consecutive Repo Rate Cut

Repo rate, or the rate at which the central bank lends to their commercial counterparts, has been reduced by 35 basis points, scaling it to 5.40 per cent. The announcement was made by RBI Governor Shaktikanta Das while releasing the monetary policy report today.

GDP Growth Estimate Scaled Down to 6.9% From 7% by RBI Amid Economic 'Slowdown'

In a bid to rejuvenate the economy, the RBI announced a 35 basis point cut in the repo rate, which will bring down the rate at which the central bank lends to commercial counterparts to 5.40 per cent. This in turn will lead to lowering of interest rates at which businesses and individuals could avail short-term and medium-term loans.

RBI Cuts Repo Rate by 35 Basis Points, Loans to Get Cheaper as Reduction in Lending Rate Marks Longest Stretch of Rate Cuts in 10 Years

The Monetary Policy Committee, led by Reserve Bank of India Governor Shaktikanta Das has cut the Repo Rate by 35 basis points to 5.40 percent and Reverse Repo Rate at 5.15 percent today. This announcement means that loans will become cheaper.

RBI Monetary Policy: Equity Indices in Green Ahead of Decision on Key Interest Rates

Titan, Tata Steel, JSW Steel and Mahindra and Mahindra too witnessed some losses. Meanwhile, Asian stocks traded mixed as traders remained cautious in the face of US-China trade tensions. Shares declined in Japan and Hong Kong and fluctuated elsewhere.

Subbarao Says Raiding RBI Reserves Shows Government 'Desperation'

The career bureaucrat-turned-central banker said he would be 'ok' if a sovereign bond issue in foreign currency is done once just to test the waters, but cautioned against using the instrument regularly.

RBI's Higher Interest Rate a Major Reason For Slowdown the Economy, Says RSS' Wing

Swadeshi Jagran Manch, the economic wing of the Rashtriya Swayamsevak Sangh has hit out at the Reserve Bank of India for not lowering rate of interest even when the inflation is down to 2 per cent, holding it responsible for the current slowdown in the economy.

Atanu Chakraborty, Economic Affairs Secretary, Nominated on RBI's Central Board

Atanu Chakraborty's nomination is effective from July 29 and until further orders, RBI said.

PNB Housing Raises USD 100 Million from IFC to Finance Purchase of Affordable Housing Projects

PNB Housing Finance Limited said on Monday it has raised 100 million dollars (about Rs 690 crore) from International Finance Corporation, a member of the World Bank Group, for on-lending to buyers in affordable housing projects.

Budget 2019 Ensures Vigilance Short-Term Liquidity For NBFCs: India Ratings

Accordingly, the proposed Finance Bill empowers the Reserve Bank of India (RBI) to undertake corporate restructuring of NBFCs and HFCs in public interest.

Mumbai Most Expensive City To Buy Home in India, Kolkata Cheapest: RBI

Reserve Bank of India report stated that housing affordability in the country has worsened over the past four years and Mumbai is the least affordable city in the report, while Delhi, Chennai and Kolkata rank better.

CEA Krishnamurthy Subramanian, Says 'Right Time for India to Raise Funds Through Sovereign Bonds to Improve Economy'

Days after Nirmala Sitharaman's Union Budget speech, Chief Economic Adviser Krishnamurthy Subramanian said that o improve the Indian economy, the government should raise funds through overseas sovereign bonds at a much cheaper rate compared with those in the domestic market.