RBI on August 7 had cut rates by 35 bps, slightly higher than market expectations of 25 bps cut.
Bank deposits rose 939.60 billion rupees to 127.45 trillion rupees in the two weeks ended Aug 2.
But in the forward market, the central bank bought $ 4.9billion, as the outstanding forward sakes fell from $18.3 billion in May to $13.4 billion in June, RBI data indicates.
The report said some of the key committees in IL&FS did not convene any meetings at all in the last few years.
Failed transactions, non-cash swipes at ATMs shouldn't be counted as part of free transactions, RBI has said.
Real estate developer Sobha believes that demand in the residential sector will continue to grow as benefits from the structural reforms begin to show results.
The counsel also emphasized that the central bank did not undertake research before issuing the ban.
NPAs on IL&FS's books were as high as 70 per cent of its total loans and advances.
PSB has lowered MCLR on overnight, one-month, three-month and six-month duration loans by 0.15 per cent to 8.20 per cent, 8.30 per cent, 8.40 per cent and 8.50 per cent, respectively.
As per the revised norms, on-lending by NBFCs for 'term lending' component under agriculture will be allowed up to Rs 10 lakh per borrower.
HFCs will now be treated as one category under the non-bank finance companies.
The Infy co-founder's list also includes PV Narasimha Rao and Montek Singh Ahluwalia.
The bank's estimate of GDP growth is now well below the expectations of other banks, and a long way from the RBI's forecast of 6.9% forecast
Banks provide certain number of free transactions at ATMs to their customers and beyond that impose charges.
As per various estimates, the RBI has over Rs 9 lakh crore of surplus capital with it.
The RBI said the RS fosters 'learning by doing' on all sides and regulators obtain first-hand empirical evidence on the benefits and risks of emerging technologies and their implications.
The framework document also doesn’t provide any legal waiver to the companies operating in the sandbox. Furthermore, any loss incurred by the customer would have to be borne by the sandbox entity, the central bank said.
While RBI does have space to cut rates, we will have to wait and watch the economic situation.
The Bimal Jalan committee, constituted to assess the adequate size of capital reserves that the RBI should hold, has finalised its report, sources said on Wednesday.
This year’s June travel spend accounted for 42% of the foreign exchange purchased by Indian individuals.
India's gold reserves surged by $1.591 billion to $26.754 billion, according to data.
Gadkari sought to make the point how rigidity by regulators had hampered business growth in the country.
Higher than normal rate cut is a signal for banks to cut lending rates aggressively before festive season.
The 10-year benchmark government bond yield has fallen to its lowest since September.
New mandate on expanding services gives BBPS the opportunity to harness the system’s full potential.
The bank’s provision for NPAs stood at Rs 7,009 crore as against Rs 4,603 crore in the year-ago period.
Buy Axis Bank Ltd. at a price target of Rs 695 and a stoploss at Rs 640 from entry point.
Addressing the national council meeting of the Confederation of Indian Industry, she said govt wants to reduce corporate tax rate and review CSR default penalty.
The Indian government took control of IL&FS late last year after it defaulted on some of its debt, triggering wider concerns about risk in the rest of the country's financial system.
Mahindra Finance, Tata Capital, and PNB Housing Finance are now seeking shorter-tenor, MCLR-linked bank borrowings to raise disbursements ahead of India’s festival season beginning early autumn.
This year, we may grow in the teens given the timing of the overall capital raise, says Gill.
RBI has increased monitoring of NBFCs after the IL&FS crisis.
Sitharaman was addressing industry leaders at the national council meeting of Confederation of Indian Industries (CII).
The properties belong to Nowhera Shaik of Heera Group of Companies and others, and are spread across multiple states.
If RBI does cut again as forecast it would be a repeat of a cutting spree last seen in 2000-01.
RBI rate cut was unanimous, with the 35 bps to 25 bps vote counting as 4 : 2.
The BSE Midcap index declined 0.44 per cent and the BSE Smallcap index ended 0.11 per cent lower.
The RBI had on April 6, 2018 last year had said that it had repeatedly cautioned users, holders and traders of virtual currencies.
The Bengaluru-headquartered bank, established as a financial services company in 2009, said it presently operates 260 branches.
Shaktikanta Das didn’t stop with an interest rate cut. He walked an extra mile by tinkering with prudential guidelines.
Reduces growth forecast by 10 bps for the fiscal year to 6.9% on slumping demand
The RBI has bought close to 2 million troy ounce of gold since November 2017.
Analysts say priority sector lending rules tweak may help smaller NBFCs but won't favour bigger shadow banks.
RBI lowered its GDP growth projection to 6.9% from 7.0% for the fiscal citing weak domestic and external demand conditions.
Das said RBI have had inter-regulator meeting at a very senior levels from senior members from Sebi and Irdai.
The central bank said guidelines in this regard would be issued by the end of August.
Shubhada Rao, chief economist, Yes Bank speaks on how the RBI Governor indeed walked the talk, and opted for an unconventional 35 bps rate cut. She suggests what is the path from here.RBI Governor walked the talk: Shubhada Rao, chief economist, Yes Bank
While the RBI expects risk on inflation forecasts to be evenly balanced, it anticipates some downside risks to its FY20 growth estimate.
Industrialist Anand Mahindra praised the Reserve Bank of India (RBI) for today's policy rate cut. "Excellent. I had just tweeted about the need to roll up our sleeves & get the GDP growth engine moving faster. Clearly, the RBI is leading from the front..." Mr Mahindra tweeted on Wednesday, after the RBI's Monetary Policy Committee (MPC) delivered its fourth rate cut of the current year. The central bank reduced the repo rate - the key interest rate at which it lends short-term funds to commercial banks - by 35 basis points to 5.40 per cent - the lowest level recorded in over nine years. RBI is leading from the front: Anand Mahindra on Rate Cut
Individually, the penalty on 11 banks ranges from Rs 1.5 crore to Rs 50 lakh. Overall, the combined penalty comes to Rs 8.5 crore.
Sehgal added the RBI should strengthen the ombudsman mechanism for redressal of grievances.
There is still selective lending but maybe a few banks are being an exception.
Property builders hope the current rate cut would translate into lower EMIs on housing loans and will aid the sluggish property market.
It appears that the RBI is negligent in assisting in the matter," the bench said.
RBI shares the general concern about slowing growth and would like to do its bit to lift spirits and get the economy moving.
CPI (Consumer Price Index) retail inflation is projected at 3.1 per cent for the second quarter this fiscal.
A 50 bps cut would have said that we are really worried, says the HDFC Bank chief economist.
“Tractor and motorcycle sales – indicators of rural demand – continued to contract," the central bank said.
The participants in RBI's payment system will be given access to this registry for fraud monitoring that is likely to be almost real-time.
Finance ministry to brief Modi today about issues faced by industry and suggest possible stimulus measures.
Following the RBI's Monetary Policy Committee (MPC) decision, the local currency witnessed heavy volatility.
Banks have to keep aside a higher amount of money depending on the risk perception on loans guided by the central bank.
The Reserve Bank of India today relaxed bank lending norms to non- banking finance companies and eased bank’s exposure limits to help the sector under stress.
The Bharat Bill Payment System is an inter-operable platform for repetitive bill payments.
Currently, the channel can only be used between 8am to 7pm on working days.
The RBI MPC will announce its third bi-monthly policy of the ongoing fiscal today.
The Nifty Realty index was trading 0.74 per cent up at 264.40 around 09:55 am.
The Nifty Auto index was trading 0.05 per cent up at 6945.75 around 09:46 am.
SBI chairman Rajnish Kumar had said he was hopeful of another rate cut by MPC.
Since February, the Reserve Bank of India has cut the key policy rate by 110 bps.
Nasscom wants time till March 2020 and easy access to Aadhaar for wallet companies.
Income growth has been running much below consumption, forcing homes to cut savings.
The wholesale price index (WPI)-based inflation was at 2.02 per cent in June this year and 5.27 per cent in July 2018.
Interest rates have increased by 200-400 basis points versus a year ago, dealers said.
As much as 34% of the 1,292 cases in the bankruptcy courts up to June 2019 are delayed beyond 270 days.
Consumer confidence is rapidly slipping as worries over jobs and other aspects of the economy take firm hold.
The banks had delayed or did not report frauds to RBI resulting in non-compliance with its directions.
The ball is now in government of India's court. Modi’s call to look beyond the Budget will not work.
Interest rates surge by up to 300 basis points on fear of default and crash in share prices.
The RBI in exercise of the powers conferred under various sections of the Banking Regulations Act has imposed this penalty on SBI.
RBI has also pulled up banks for not reporting as frauds the cases that are being investigated by the government agencies.
That means Indians will continue to face a bewildering array of payments apps.
SBI Chief had earlier indicated that the public offer would be made in the fourth quarter of the current fiscal.
At Rs 2 lakh crore, it is the highest liquidity in the system ex demonetisation impact.
MPs, MLAs and local body members cannot join boards, the updated circular by the RBI has stated.
Economists at largest private sector lender HDFC Bank termed reduction in growth as "paltry and somewhat dissonant with the characterization of the economic situation".
The RBI, which has lowered the repo rate by 1.1 percentage points this year, maintained its "accommodative" stance that means an increase is off the table.
The bank is required to complete listing of its shares on or before September 4.
Finance minister Nirmala Sitharaman is not remotely as intemperate as Trump. But there’s no doubt she expects monetary policy to do the heavy lifting.
CLOSING BELL: Sensex tanks 286 points as RBI cuts rate by 35 bps; Nifty below 10,850; M&M slips 6%Sensex tanks 286 pts as RBI cuts rate by 35 bps; Nifty ends at 10,856
RBI Governor Shaktikanta Das lists out various developmental and regulatory policy measures in the areas of financial markets, payment and settlement systems, banking regulation, financial inclusion and credit flow to NBFCs.BBPS biller categories expanded, 24x7 NEFT: RBI statement on developmental, regulatory changes
With today’s rate action, we have seen a cumulative rate reduction of 110 bps, and it is imperative to see this impact percolate to the real sector.
Shaktikanta Das said banks have passed only 0.29 percent in rate cuts to their borrowers as against 0.75 percent cuts in interest rates by the Reserve Bank till June
The Reserve Bank of India (RBI) Governor Shaktikanta Das Wednesday termed the steeper 0.35 percent repo rate cut as a "balanced" call given the domestic and global developments. He explained that a 0.25 percentage points reduction, as it has done thrice this year since February, would have been "inadequate", while a 0.50 percentage points cut would have been "excessive". The six-member Monetary Policy Committee (MPC) for the fourth consecutive times in a 4:2 vote resolved to cut the rates by 0.35 percent, taking the total cuts during 2019 to 1.10 percent to a near record low of 5.40 percent. Watch this video to know more. (Text: PTI)RBI Governor explains why MPC went for an 'unprecedented' 35 bps rate cut
He exuded confidence of growth reviving soon on the back of cheaper money and likely more government measures.
MPC felt a 50 basis points rate cut might have been excessive,” said Shaktikanta Das.
It was fourth rate cut by the RBI in a row. The short-term lending rate now stands at 5.40%.
The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) on Wednesday cut repo rate by 35 basis points in its third bi-monthly policy review of the financial year. It was fourth rate cut by the central bank in a row. The short-term lender rate now stands at 5.40 per cent. Persistent weakening of core inflation has kept the headline rate below the central bank’s 4 per cent target for the 11th straight month in June and, thus, the rate cut was largely in line with Street expectations. RBI credit policy: MPC cuts repo rate by 35 bps to 5.40%, maintains accommodative stance
The central bank maintained its accommodative monetary stance and retained the inflation outlook.
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