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RBI to cut interest rates by 40 bps by March: Fitch

RBI on August 7 had cut rates by 35 bps, slightly higher than market expectations of 25 bps cut.

Bank loans rose 12% YoY in two weeks to Aug 2: RBI

Bank deposits rose 939.60 billion rupees to 127.45 trillion rupees in the two weeks ended Aug 2.

RBI's dollar purchases at four-month low in June

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.

Key committees in IL&FS did not meet for years: RBI

The report said some of the key committees in IL&FS did not convene any meetings at all in the last few years.

RBI clarifies on free ATM transactions

Failed transactions, non-cash swipes at ATMs shouldn't be counted as part of free transactions, RBI has said.

NHB directive on subvention to have little impact, says study

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.

IAMAI says RBI has no authority to ban cryptocurrencies

The counsel also emphasized that the central bank did not undertake research before issuing the ban.

IL&FS may not have disclosed bad loans for years: RBI report

NPAs on IL&FS's books were as high as 70 per cent of its total loans and advances.

Punjab & Sind Bank cuts MCLR by up to 20 basis points

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.

RBI tweaks norms for priority sector lending

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.

RBI to review rules governing housing finance companies

HFCs will now be treated as one category under the non-bank finance companies.

Narayana Murthy credits Manmohan Singh, Chidambaram for India's economic reform & tech boom

The Infy co-founder's list also includes PV Narasimha Rao and Montek Singh Ahluwalia.

ANZ slashes forecast for India's GDP growth in 2019/20 to 6.2%

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

RBI asks banks not to count failed transactions, balance enquiry as 'free ATM transactions'

Banks provide certain number of free transactions at ATMs to their customers and beyond that impose charges.

Jalan panel finalises report; suggests transfer of RBI's surplus in tranches over 3-5 yrs

As per various estimates, the RBI has over Rs 9 lakh crore of surplus capital with it.

RBI allows fintech companies, financial institutions to set up regulatory sandbox

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.

Insurance cover a must for fintechs participating in RBI sandbox

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.

Investing in 3-5 years duration funds is an all-weather strategy: R Sivakumar of Axis Mutual Fund

While RBI does have space to cut rates, we will have to wait and watch the economic situation.

Bimal Jalan panel finalises report; suggests transfer of RBI's surplus in tranches over 3-5 years

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.

Desis’ Q1 foreign trip bill at new high

This year’s June travel spend accounted for 42% of the foreign exchange purchased by Indian individuals.

Forex reserve hits fresh lifetime high of $430.57 billion

India's gold reserves surged by $1.591 billion to $26.754 billion, according to data.

Had once told FM to sack RBI governor: Nitin Gadkari

Gadkari sought to make the point how rigidity by regulators had hampered business growth in the country.

RBI cuts interest rate but reduction in your home loan EMI will be slow

Higher than normal rate cut is a signal for banks to cut lending rates aggressively before festive season.

Improved liquidity, softening yields make fund raising easier for ‘AAA’ companies

The 10-year benchmark government bond yield has fallen to its lowest since September.

We have onboarded 150 billers and process 5 cr transactions a month: AR Ramesh, BBPS

New mandate on expanding services gives BBPS the opportunity to harness the system’s full potential.

IDBI Bank hits 16-year low after Q1 net loss widens

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. target Rs 695: Shubham Aggarwal

Buy Axis Bank Ltd. at a price target of Rs 695 and a stoploss at Rs 640 from entry point.

Government, RBI on same page on measures to boost economy: Nirmala Sitharaman

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.

IL&FS may not have disclosed bad loans for years- central bank report

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.

How RBI helps NBFCs to lower borrowing costs

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.

We’re in talks with a handful of cos for strategic stake sale: Ravneet Gill, YES Bank

This year, we may grow in the teens given the timing of the overall capital raise, says Gill.

RBI will ensure no big NBFC fails, but no bailout package

RBI has increased monitoring of NBFCs after the IL&FS crisis.

Govt & RBI working together to help incentivise investments: Sitharaman

Sitharaman was addressing industry leaders at the national council meeting of Confederation of Indian Industries (CII).

Ponzi scam: ED attaches Rs 300-crore assets of Telangana group

The properties belong to Nowhera Shaik of Heera Group of Companies and others, and are spread across multiple states.

RBI not done with easing, may cut rates in October and early next year

If RBI does cut again as forecast it would be a repeat of a cutting spree last seen in 2000-01.

RBI's MPC bears the Das stamp: An assessment

RBI rate cut was unanimous, with the 35 bps to 25 bps vote counting as 4 : 2.

Sensex, Nifty plunge as RBI slashes growth forecast

The BSE Midcap index declined 0.44 per cent and the BSE Smallcap index ended 0.11 per cent lower.

SC commence hearing on pleas against RBI circular banning cryptocurrency

The RBI had on April 6, 2018 last year had said that it had repeatedly cautioned users, holders and traders of virtual currencies.

Jana Small Finance Bank receives Scheduled Bank status from RBI

The Bengaluru-headquartered bank, established as a financial services company in 2009, said it presently operates 260 branches.

RBI eases risk, exposure rules, banks can lend more to NBFCs

Shaktikanta Das didn’t stop with an interest rate cut. He walked an extra mile by tinkering with prudential guidelines.

RBI cuts repo rate by 35 bps to 9-year low

Reduces growth forecast by 10 bps for the fiscal year to 6.9% on slumping demand

RBI building its forex kitty with gold bricks

The RBI has bought close to 2 million troy ounce of gold since November 2017.

RBI moves unlikely to ease pain for India's struggling NBFCs

Analysts say priority sector lending rules tweak may help smaller NBFCs but won't favour bigger shadow banks.

India Inc welcomes 35 basis points RBI rate cut

RBI lowered its GDP growth projection to 6.9% from 7.0% for the fiscal citing weak domestic and external demand conditions.

RBI talking to Sebi, Irdai to make AMCs, insurers part of ICA

Das said RBI have had inter-regulator meeting at a very senior levels from senior members from Sebi and Irdai.

RBI cuts risk weight on consumer credit to 100%, credit cards

The central bank said guidelines in this regard would be issued by the end of August.

RBI Governor walked the talk: Shubhada Rao, chief economist, Yes Bank

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

RBI's 'unconventional' rate cut to support growth, say experts

While the RBI expects risk on inflation forecasts to be evenly balanced, it anticipates some downside risks to its FY20 growth estimate.

RBI is leading from the front: Anand Mahindra on Rate Cut

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

RBI imposes monetary penalty on eleven banks

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.

RBI should ensure easy credit disbursal to exporters: EEPC India chairman

Sehgal added the RBI should strengthen the ombudsman mechanism for redressal of grievances.

Bond market unmoved by RBI credit policy: Lakshmi Iyer, Kotak MF

There is still selective lending but maybe a few banks are being an exception.

RBI Monetary Policy: Repo rate cut to boost affordable homes sales

Property builders hope the current rate cut would translate into lower EMIs on housing loans and will aid the sluggish property market.

HC raps RBI for callous attitude in not filing response to PIL on financial data misuse

It appears that the RBI is negligent in assisting in the matter," the bench said.

ET View: 3 reasons for RBI's 35 bps rate cut

RBI shares the general concern about slowing growth and would like to do its bit to lift spirits and get the economy moving.

RBI keeps retail inflation projection within target for next 12 months

CPI (Consumer Price Index) retail inflation is projected at 3.1 per cent for the second quarter this fiscal.

A 35 bps cut denotes RBI is not panicking: Abheek Barua

A 50 bps cut would have said that we are really worried, says the HDFC Bank chief economist.

Slowdown in the auto sector one of the 15 considerations for RBI to cut repo rate

“Tractor and motorcycle sales – indicators of rural demand – continued to contract," the central bank said.

RBI brings in Central Fraud Registry, a likely major gamechanger for banking

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.

PM Modi to take call on economic revival steps

Finance ministry to brief Modi today about issues faced by industry and suggest possible stimulus measures.

Rupee inches to 71 level against dollar post RBI policy decision

Following the RBI's Monetary Policy Committee (MPC) decision, the local currency witnessed heavy volatility.

Personal loans likely to become cheaper as RBI cuts risk weightage

Banks have to keep aside a higher amount of money depending on the risk perception on loans guided by the central bank.

RBI policy: Lending norms, exposure limits eased for NBFCs

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.

RBI brings in major change in Bharat Bill Payment System regime

The Bharat Bill Payment System is an inter-operable platform for repetitive bill payments.

Transact round the clock: NEFT timings to change from December, RBI announces

Currently, the channel can only be used between 8am to 7pm on working days.

Sensex, Nifty cautious ahead of RBI policy outcome, key earnings

The RBI MPC will announce its third bi-monthly policy of the ongoing fiscal today.

Stock market update: Realty stocks rise ahead of RBI's policy outcome

The Nifty Realty index was trading 0.74 per cent up at 264.40 around 09:55 am.

Share market update: Auto stocks up ahead of RBI's policy outcome

The Nifty Auto index was trading 0.05 per cent up at 6945.75 around 09:46 am.

Analysts see 25 basis points rate cut by RBI

SBI chairman Rajnish Kumar had said he was hopeful of another rate cut by MPC.

Bond rally fizzles on government spending fears

Since February, the Reserve Bank of India has cut the key policy rate by 110 bps.

mWallet firms look to RBI for eKYC options

Nasscom wants time till March 2020 and easy access to Aadhaar for wallet companies.

View: India has a labour productivity problem and it stands in the way of economic growth

Income growth has been running much below consumption, forcing homes to cut savings.

WPI inflation in July slips to 25-month low of 1.08 per cent on cheaper food items, fuel

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.

Loans against shares now a pricier affair

Interest rates have increased by 200-400 basis points versus a year ago, dealers said.

Delay becomes the norm in insolvency & bankruptcy cases

As much as 34% of the 1,292 cases in the bankruptcy courts up to June 2019 are delayed beyond 270 days.

Slowdown is taking hold: Consumer sentiment plunges, RBI survey flags low confidence in economy

Consumer confidence is rapidly slipping as worries over jobs and other aspects of the economy take firm hold.

RBI imposes penalty of Rs 8.5 crore on 11 banks

The banks had delayed or did not report frauds to RBI resulting in non-compliance with its directions.

View: Short-term measures to pull economy out of crisis

The ball is now in government of India's court. Modi’s call to look beyond the Budget will not work.

Loans against shares now a pricier affair

Interest rates surge by up to 300 basis points on fear of default and crash in share prices.

RBI imposes Rs 50 lakh fine on SBI

The RBI in exercise of the powers conferred under various sections of the Banking Regulations Act has imposed this penalty on SBI.

CBI wants banks’ nod to probe executives in fraud cases

RBI has also pulled up banks for not reporting as frauds the cases that are being investigated by the government agencies.

India’s payment apps battle to catch China in squeezing out cash

That means Indians will continue to face a bewildering array of payments apps.

SBI proposes to list credit card business

SBI Chief had earlier indicated that the public offer would be made in the fourth quarter of the current fiscal.

RBI needs to take the cue and cut rates aggressively: Sandip Sabharwal

At Rs 2 lakh crore, it is the highest liquidity in the system ex demonetisation impact.

RBI updates fit & proper norms for PSB boards

MPs, MLAs and local body members cannot join boards, the updated circular by the RBI has stated.

RBI will have to do more heavy-lifting for economy to even clip at 6.9%: Analysts

Economists at largest private sector lender HDFC Bank termed reduction in growth as "paltry and somewhat dissonant with the characterization of the economic situation".

RBI's rate cut will help if banks pass on benefit to end-users, say realty players

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.

Equitas approaches RBI for extension of listing deadline

The bank is required to complete listing of its shares on or before September 4.

Can we expect a fourth successive rate cut from RBI?

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.

Sensex tanks 286 pts as RBI cuts rate by 35 bps; Nifty ends at 10,856

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

BBPS biller categories expanded, 24x7 NEFT: RBI statement on developmental, regulatory changes

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

Here’s what prominent debt fund managers say about RBI policy

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 says banks so far passed on only 29 bps of RBI 75 bps cuts

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

RBI Governor explains why MPC went for an 'unprecedented' 35 bps rate cut

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

RBI Governor Shaktikanta Das expects economy to revive soon, feels slowdown cyclical, not structural

He exuded confidence of growth reviving soon on the back of cheaper money and likely more government measures.

RBI cuts FY20 growth projection: Key takeaways from money policy

MPC felt a 50 basis points rate cut might have been excessive,” said Shaktikanta Das.

Rate cut shows RBI desperate to put economy back on track, say D-St analysts

It was fourth rate cut by the RBI in a row. The short-term lending rate now stands at 5.40%.

RBI credit policy: MPC cuts repo rate by 35 bps to 5.40%, maintains accommodative stance

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

RBI cuts rates by 35 bps; is it time to shift to long-term debt mutual funds?

The central bank maintained its accommodative monetary stance and retained the inflation outlook.

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