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Malvika Sinha takes charge as the RBI Executive Director

Thursday, April 6, 2017, 11:42 AM

Malvika Sinha takes charge as the RBI Executive Director

The Reserve Bank of India (RBI) has appointed Malvika Sinha as Executive Director following the appointment of B P Kanungo as Deputy Governor. The RBI in an official release said, “As Executive Director, she will look after foreign exchange department, department of government and bank accounts and internal debt management wing.”

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RBI will have to continue inflation vigil in FY18: Crisil

Wednesday, April 5, 2017, 5:48 PM

RBI will have to continue inflation vigil in FY18: Crisil

Reserve Bank of India (RBI) will have to continue its vigil on inflation all through the current fiscal due to rising food prices, pick up in global commodities and stubborn demand led inflation, rating and research company Crisil said in a special report on Wednesday ahead of the central bank’s bi-monthly monetary policy review on Thursday.

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Aditya Birla Group gets RBI licence to start payments bank

Tuesday, April 4, 2017, 8:31 PM

Aditya Birla Group gets RBI licence to start payments bank

The Aditya Birla Group said it has received licence from the Reserve Bank of India to start payments bank. Headed by Kumar Mangalam Birla, the group's outfit Aditya Birla Nuvo had set up a 51:49 joint venture Aditya Birla Idea Payments Bank Ltd with telecom major Idea Cellular to launch payments bank services in the country.

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Reserve Bank of India could issue Rs 200 notes after June: reports

Tuesday, April 4, 2017, 10:07 AM

Reserve Bank of India could issue Rs 200 notes after June: reports

The Reserve Bank of India has cleared a proposal to issue Rs 200 notes, according to reports. In fact, the printing of Rs 200 notes could begin after June. According to a report by India Today, the new note is already in the pipeline and is only awaiting instructions from the central government to go ahead with the printing procedure.

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RBI set to get more power to deal with stressed assets

Tuesday, April 4, 2017, 9:59 AM

RBI set to get more power to deal with stressed assets

The government plans legislation that will empower the Reserve Bank of India to deal much more effectively with stressed assets than before as part of a broader plan to resolve banks' bad loans, a long-festering issue that's been holding back the economy from achieving its full potential. The Centre may even issue an ordinance to enable RBI to direct banks.

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Withdrawals from ATMs drop as smaller notes in short supply

Tuesday, April 4, 2017, 7:31 AM

Withdrawals from ATMs drop as smaller notes in short supply

Nearly three weeks after the Reserve Bank of India (RBI) lifted cash-withdrawal limits imposed in the wake of demonetisation, ATMs continue to run dry in several locations. Even though cash supply has improved, the availability of lower-denomination notes of Rs.500 and Rs.100 is insufficient. ATM operators were expecting the situation to normalize after the recent assembly elections, but that has not happened.

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RBI to bring Rs 200 notes this June, claim reports

Tuesday, April 4, 2017, 7:01 AM

RBI to bring Rs 200 notes this June, claim reports

The Reserve Bank of India (RBI) will introduce banknotes of Rs 200 denomination, according to reports. As per reports, the central bank has already taken a decision in this regard in a meeting last month. "The process of printing the new Rs 200 notes is likely to begin after June, once the government officially approves this new denomination," said a report.

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RBI may focus on squeezing excess liquidity in the system

Monday, April 3, 2017, 7:55 PM

RBI may focus on squeezing excess liquidity in the system

The Reserve Bank of India (RBI) will focus on squeezing excess liquidity from the banking system in its monetary policy meeting on 5-6 April while keeping policy rates unchanged and retaining its neutral stance, according to a survey. The surge in cash deposits following demonetisation resulted in liquidity rising to Rs 4 trillion in March from Rs 2 trillion in January.

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RBI Guv gets pay hike; monthly basic jumps to Rs 2.5 lakh

Monday, April 3, 2017, 9:52 AM

RBI Guv gets pay hike; monthly basic jumps to Rs 2.5 lakh

RBI Governor Urjit Patel and his deputies have got a big pay hike with the government more than doubling their basic salary to Rs.2.5 lakh and Rs.2.25 lakh per month, respectively. The "basic pay of the Governor and Deputy Governors" have been revised retrospectively and marks a huge jump from Rs.90,000 basic pay so far drawn by the Governor and Rs.80,000 for his deputies.

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RBI likely to maintain status quo on April 6

Monday, April 3, 2017, 9:00 AM

RBI likely to maintain status quo on April 6

Hardening inflation and global developments may prompt the Reserve Bank to opt for status quo at its first bi-monthly monetary policy for 2017-18 on Thursday (April 6). Rising interest rate in the US provides sufficient indication that benchmark policy rate of RBI is not going to go down but may increase in the future depending on domestic and external factors, according to experts.

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