Last week’s guidelines on maintaining a countercyclical capital buffer (CCCB) by Reserve Bank of India has been hailed by the global credit rating agency Moody`s . The guidelin
The Reserve Bank of India in its first monetary policy statement for the new financial year 2015-16 has not changed both the repo rate and the cash reserve ratio (CRR) due to increased food prices
The differential interest rates based on whether the term deposits are with or without the premature withdrawal facility come to India. The Reserve Bank of India (RBI) has given gree
As the Modi government completes one year in office this month, RBI Governor Raghuram Rajan, who oversees nation’s monetary policies, has said that the administration had taken steps to creat
Showing confidence that the economy is in good shape to withstand any turbulence and sending out a strong signal to the banks to cut interest rates for consumers, the Reserve Bank of India (RBI) cu
SS Mundra took charge as the RBI deputy governor on July 31 last year. Previously, he was chairman and managing director of the second largest bank, Bank of Baroda, where he ha
In far-reaching and forward looking measure the Reserve Bank of India is going to allow banks to convert debt of defaulting companies into equity and bring about change in management of these compa
Bimal Jalan, a former RBI governor, feels that PMJDY is a very “good idea” and with the intelligent use of technology it can be a useful instrument for fin
Admitting that the situation in Greece may impact India in capital inflows and outflows, finance secretary Rajiv Mehrishi on Monday said the government is in touch with the Reserve Bank to deal wit
While asking the central banks of advanced economies to "maintain supportive policies" and refrain from raising interest rates too quickly, the International Monetary Front (IMF) has said
Aadhaar will receive legislative sanction with the government ready to introduce National Identification Authority of India (NIAI) Bill in the parliament. Finance minister Arun Jaitl
Now go and bury it,” said major general Ian Cardozo, then a major with the 5 Gorkha Rifles, during the 1971 Indo-Pak war that led to liberation of Bangladesh. He had accidently stepped on a m
Just when did Dr Raghuram Rajan’s equations with the new government start going downhill? In hindsight, there will be many remarks and decisions that will fit the bill. A speech at IIT Delhi
In the fourth bi-monthly monetary policy statement, the Reserve Bank of India’s monetary policy committee (MPC) reduced the repo rate by 25 basis points, from 6.5 percent to 6.25 percent. The
Dr KC Chakrabarty, former deputy governor, Reserve Bank of India, headed currency management at the central bank before taking premature retirement in March 2014. Known for his frank an
If you are planning to file a revised income tax return following demonetisation, then be warned. The income tax department will be looking out for manipulation or fudging and such cases may be tak
The government has initiated numerous steps to combat the scourge of corruption and black money in the last two and a half years, said NITI Aayog CEO Amitabh Kant on Thursday. Addres
India is in the throes of an unprecedented social experiment in enforced digital disruption, and the world has much to learn from it, said an article: ‘India’s Botched War on Ca
The Indian government has audaciously put the demonetisation show on the road, though with little consideration of infrastructural, banking and connectivity back-up. After making his own set of pol
A close friend, stock market wizard and intellectual sparring partner, also a Marvel Comics and Stan Lee fan, has been keenly following the demonetisation debate in media and elsewhere. &ld
One thing consistent about demonetisation has been the ever-changing rules. Monday saw a new rule in place. One can now deposit the scrapped currency of Rs 500 and Rs 1,000
The longer run impact of demonetisation on formal domestic remittances could be significant. Following up on a major financial inclusion initiative (Jan Dhan Yojana) and new payments banks, this mo
Liquidity conditions have undergone large shifts in Q3 so far, said the Reserve Bank of India which added that surplus conditions in October and early November were overwhelmed by the impac
Mangal Bhai Rama Harijan is a craftsman from Kawada village, 50 kilometres from the Great Rann of Kutch in Gujarat, the place where India’s most prominent cultural festival takes place every
The right to food campaign is dismayed by the Indian government`s reckless attempt to renew currency notes, known as "demonetization", without any serious attention to the consequences it
The Reserve Bank of India on Thursday clarified that it was still in the process of reconciling the figures of the demonetized currency, following media reports which said that most of the scrapped
People may recall the passionate justification that prime minister gave on November 8 when he announced the decision to demonetise currency notes of Rs 500 and Rs 1,000 denomination. The entire cou
The Reserve Bank of India has imposed a monetary penalty of Rs 30 million on Lakshmi Vilas Bank Ltd. (LVB) for contravention of instructions relating to opening and operation of current accounts, e
Moody`s Investors Service and its Indian affiliate, ICRA Limited, see subdued prospects for India`s banks, with both identifying asset deterioration as a key challenge over the medium term.
House and equity prices respond at varying speeds and significantly varying magnitude to monetary policy shocks, signifying that it may turn out to be challenging for policy makers to simultaneou
The Demonetisation, the black money and the benami property, the three vibrant words in the Indian economy, has impacted the life of people across the country. In the fight against black money, pri
The Reserve Bank holds 557.77 tonnes of gold; of which, 265.49 tonnes are held overseas in safe custody with the Bank of England and the Bank for International Settlements (BIS). Gold as a share of
“India is at an exciting but challenging time,” said Viral Acharya who takes over as RBI’s deputy governor on Friday. “As one of the world’s fastest growing
The Reserve Bank of India’s Industrial Outlook Survey has indicated a decline in business sentiments. This round of the survey was conducted during October-December 2016. The s
The Reserve Bank of India has cautioned about virtual currencies, including Bitcoins. The RBI advised that it has not given any licence / authorisation to any entity / company to ope
The Reserve Bank of India (RBI) on Thursday kept the repo rate, which is the short-term lending rate, unchanged at 6.25 percent. Repo rate is the rate at which the central bank of a
The Reserve Bank of India (RBI) has sought public feedback the draft circular on rationalisation of Merchant Discount Rate (MDR) for debit card transactions. MDR is the rate charged
Only a bank that fears losing its deposit base or incurring the wrath of its shareholders is likely to recognise losses in a timely manner. In many of our banks, such market di
“As regards death of currency, it is not a new subject. It has been predicted right from early 1950s,” said R Gandhi, deputy governor Reser
Overall, the assessment is that the impact of demonetisation on the real economy has been transient, given the information available so far, said a Reserve B
India’s affinity for gold is a well-known fact, so is its dependence on gold imports to meet the domestic demand. More than 98 percent of the gold consumed in the country is met throu
It’s common knowledge that banks thrive on interest spread, the difference between the rate they charge borrowers and the rate they pay depositors. Bank profits hinge on those vital two to fi
Recent regulatory actions in India suggest the authorities are making a more concerted push to tackle banks` bad loan problems, says Fitch Ratings. "We believe that asset resolu
The Goods and Services Tax (GST) is likely to strengthen cooperative federalism and have far-reaching implications for growth, inflation, public finances and external competitiveness in the India
RBI deputy governor SS Mundra has spoken about the idea of ‘account number portability’, which he had first advocated a couple of years ago. “Back
The Reserve Bank of India on Wednesday kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 percent and the Monetary Policy Committee noted that incoming data
Farmers in several parts of the country are on the warpath. Under stress, they are demanding more support from the government, especially higher MSPs and a loan waiver. But after a year of normal
The Goods and Services Tax (GST) is expected to be a game changer. According to the
At the stroke of midnight hour, India got converted into one seamless market, with multiple taxes being replaced with singular Goods and Service Tax (GST). GST was
There is a need for speedier clearance of projects by states, RBI’s monetary policy committee said and added that there is an urgent need to reinvigorate private investment, remove infrastr
Swift, time-bound resolution or liquidation of stressed assets will be critical for de-clogging bank balance sheets and for efficient reallocation of capital, said Reserve Bank of India governor
The public sector banks which are teetering under the burden of non-performing assets need help from the government in the form of capital support. Former Reserve B
“We need soon a much more powerful plan – “Sudarshan Chakra” – aimed at swiftly, within months if not weeks, for restoring public sector bank health, in current owne
The Reserve Bank holds 557.77 tonnes of gold; of which, 265.49 tonnes are held overseas in safe custody with the Bank of England and the Bank for International Settlements (BIS). An
A well-capitalised banking, and in general, financial intermediation, system is a pre-requisite for stable economic growth, said RBI governor Urjit Patel who added that economic history has shown u
An efficient monetary transmission is a sine qua non for the successful pursuit of its objectives by any central bank. Over the past two decades, it has been the endeavour of the Reserve Bank of In
The Reserve Bank of India (RBI) on Friday scotched rumours and said that Public Sector Banks are not being shut down. “The RBI has come across some misinformed communication ci
India’s financial system remains stable, said a report of the Reserve Bank of India (RBI), which added that the overall risks to the banking sector remained elevated due to asset quality conc
The Right to Information (RTI), used efficiently, could have helped activists and bankers expose irregularities much before they snowballed into full-fledged scams – the one at Punjab Nationa
Could RTI have saved banks from scams?
Personalised banking, relationship managers, courteous but insistent calls to sell cards, insurance and other services – these are the positives one has come to associate with private and mul
The recent uproar in the country regarding the finance ministry apparently coercing the RBI in doing things it is unwilling to do has spiked to such heights that the RBI deputy governor valiantly w
A few months after the Punjab and Maharashtra Co-Operative Bank Ltd (PMC Bank) was put under moratorium in September 2019, I met an announcer in a function on banking organised by an industry body,
A Fly on the RBI Wall: An Insider’s View of the Central Bank By Alpana Killawala Rupa Publications, 248 pages, Rs 595
