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Exporters want RBI, govt to keep a constant eye on rupee movement

Friday, April 7, 2017, 6:26 PM

Exporters want RBI, govt to keep a constant eye on rupee movement

EEPC apex engineering export organization Chiarman, TS Bhasin, has said a sharp rise in the value of rupee against dollar could neutralise the headway made by the exporters in the recent months. Hence, the exporers would request the Reserve Bank of India and the government to keep a constant eye on the rupee movement.

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RBI raises ARCs' capital requirement to Rs 100 cr

Friday, April 7, 2017, 10:18 AM

RBI raises ARCs' capital requirement to Rs 100 cr

RBI has raised the capital requirement for asset reconstruction companies (ARCs) to Rs 100 crore, from the current Rs 2 crore, it has announced. This move was necessitated by the higher amount of cash required to buy bad loans from the current financial year, RBI said in note accompanying its first bi-monthly monetary policy statement of the current financial year presented on Thursday.

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‘Banks should transmit lower cost of funds to customers’

Thursday, April 6, 2017, 9:30 PM

‘Banks should transmit lower cost of funds to customers’

The Reserve Bank of India (RBI) left its benchmark lending rate unchanged at 6.25% for the third policy review in a row citing upside risk to inflation. As the Reserve Bank kept its key lending rate on hold, the industry said banks should be nudged to transmit lower cost of funds to customers amid increased liquidity in the system.

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RBI promises more effective steps to tackle NPA pains

Thursday, April 6, 2017, 8:53 PM

RBI promises more effective steps to tackle NPA pains

The RBI has introduced a slew of instruments to tackle the NPA menace, which has crossed 9.5% of the system. The Reserve Bank said even though there have been a few positives on the bad loans front the current level of dud loan resolution is untenable as there has been a deterioration in the NPA situation, and promised new measures to tackle the pain.

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RBI shifts its focus to liquidity management

Thursday, April 6, 2017, 8:47 PM

RBI shifts its focus to liquidity management

The central bank also promised to have a more effective liquidity management tool in a new instrument called a standing deposit facility (SDF) at the earliest. With Rs 4.8 trillion of excess funds flooding the system, the RBI shifted its policy focus to liquidity management by raising reverse repo rate by 25 bps and slashing MSF by an equal measure.

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Indian bonds see biggest fall in two months; rupee gains on RBI

Thursday, April 6, 2017, 6:55 PM

Indian bonds see biggest fall in two months; rupee gains on RBI

Indian bond yields saw their biggest spike in two-months, while the rupee hit a 20-month high against the dollar, after the central bank kept its policy rate on hold and said it was preparing to drain liquidity from the banking system. The RBI left the repo rate at 6.25% as widely expected, in line with other Asian central banks that have held rates this-month.

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RBI permits banks to invest in REITs and InvITs

Thursday, April 6, 2017, 6:32 PM

RBI permits banks to invest in REITs and InvITs

The RBI today allowed banks to invest in Real-Estate Investment Trust (REITs) and Infrastructure Investment Trusts (InvITs), a move that will help revive the cash-starved infrastructure sector. Banks are allowed to invest in equity-linked mutual funds, venture capital funds (VCFs) and equities to the extent of 20% of their Net Owned Fund (NOF) the RBI said in its first bi-monthly monetary policy for 2017-18.

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RBI to soon issue final guidelines on MDR charges

Thursday, April 6, 2017, 5:51 PM

RBI to soon issue final guidelines on MDR charges

Aimed at encouraging digital transactions, the Reserve Bank today said it will soon come out with final guidelines on MDR charges on debit card payments. As per the existing guidelines, the MDR for debit card payments, including for payments made to the government, is capped at 0.25% for transactions up to Rs 1,000 and 0.5% between Rs 1,000-2,000.

News

 
RBI hikes capital requirement for ARCs to Rs 100 crore

Thursday, April 6, 2017, 3:37 PM

RBI hikes capital requirement for ARCs to Rs 100 crore

Reserve Bank of India has hiked the capital requirement for asset reconstruction companies to Rs 100 crore from Rs 2 crore now. In a note accompanying the monetary policy statement, the central bank said that the enhanced capital requirements were necessary because of the higher amount of cash required to buy bad loans from the current fiscal.

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Is this fake? Image of Rs 200 note goes viral

Thursday, April 6, 2017, 12:36 PM

Is this fake? Image of Rs 200 note goes viral

The chances are this is another fake, the government is considering such a new currency to fill the gaps. RBI Deputy Governor NS Vishwanathan had, however, said recently that the RBI has no idea to introduce new currencies. “The central banking institution wants to encourage cashless transactions, which are helpful to the people,” he was quoted as saying in Tamil Nadu.

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