Tag Archives: reserve bank of india

India’s manufacturing activity expanded at its fastest pace in more than eight years in September, as a relaxation in coronavirus lockdown restrictions fueled a surge in demand and production, a private survey showed Thursday, though layoffs continued. Signs of recovery are good news for Asia’s third-largest economy, which is expected …

The festive month of October has started and therefore public and private banks will be closed for several days in addition to the second and fourth Saturday and Sunday. As per the Reserve Bank of India (RBI) guidelines, banks are closed on all public holidays. However, it should be noted …

Public sector banks (PSB) reported fraud worth more than Rs 19,964 crore in a total of 2,867 cases during the April-June quarter of the current fiscal year, according to a response to an RTI inquiry. The nation’s largest lender, State Bank of India (SBI), recorded the highest number of fraud …

Reserve Bank of India announced on Thursday the direct purchase of government securities by value ₹10,000 crore through open market operations. In a notification, the RBI said it will buy long-term securities maturing in 2026, 2029 and 2031. “In a review of the current financial and liquidity conditions, the Reserve …

“For the past two years, depositors in cooperative banks and small banks are facing problems. We are trying to introduce this amendment to protect depositors,” Finance Minister Nirmala Sitharaman said at Lok Sabha on Thursday. Commenting on the new bill, Mandar Agashe, founder, managing director and vice president of Sarvatra …

Taking into account the deterioration of the situation of cooperative banks in the country, Lok Sabha approved the Banking Regulation Bill (Amendment) of 2020 on Wednesday. The Bill proposes amendments to the Banking Regulation Law of 1949. With This new bill, the central government aims to bring cooperative banks under …

Finance Minister Nirmala Sitharaman presented the 2020 Banking Regulation Bill (Amendment) for discussion at the Lok Sabha on Wednesday. The amendment aims to bring cooperative banks under the supervision of the Reserve Bank of India to protect the interests of depositors. “We are trying to introduce this amendment to protect …

NEW DELHI: Finance Minister Nirmala Sitharaman introduced the 2020 Banking Regulation Bill (Amendment) at the Lok Sabha on Monday. The law seeks to protect the interests of depositors by placing cooperative banks under the regulatory framework of the Reserve Bank of India (RBI). With the amendments, RBI will be able …

File photo of the Supreme Court of India. (Image credit: PTI) The Reserve Bank of India had submitted the notification in March after the nationwide lockdown was imposed to curb the spread of the pandemic and had granted the deferred payment facility of installments to borrowers and the plan finalized …

The Indian economy was not in good shape even before the Covid-19 outbreak, which has only made things worse. The report by the Reserve Bank of India (RBI) committee of experts on a resolution framework, headed by former ICICI Bank chief KV Kamath, makes this clear. The report notes that …