Many NBFCs, including DHFL and Indiabulls Finance, came under severe liquidity pressure compelling them to bring down their reliance on commercial papers.
With the use of cash remaining unabated, the Reserve Bank of India (RBI) wants to Indians to use more debit cards to boost digital transactions.
Amidst the IL&Fs crisis, the central bank also discussed the medium-term strategy document, covering, inter-alia, the mission statement and the vision statement.
However, thefeared slowdown may be transitory if high real interest rates are addressed.
RBI had cut the key short term lending rate (repo) by 25 points each in its last two policy reviews and is slated to announce the next bi-monthly policy on June 6.
As per the data, the inflation in the food basket was 1.1 per cent in April, up from 0.3 per cent in March.
RBI had cut interest rate by 25 basis points each in February and April to boost economic growth.
In order to bring the RRBs and SFBs at a level playing field with other Scheduled Commercial Banks, it has now been decided to enhance the housing loan limits for eligibility under PSL.
Abhishek Manu Singhvi alleged connivance between the RBI and the government for not disclosing the list of 100 biggest loan defaulters.
I never thought that a day would come when the Reserve Bank of India (RBI) would need to advertise. But the RBI did just that last year with a big splash on the IPL.
The RBI did not reveal whether it would straightaway share the information sought by the RTI applicants or will seek time to review the SC order before acting upon it.
The cut off premium was at Rs 8.38 for the three year buy-sell swap.
The six-member RBI panel is likely to submit its report next month and the central bank is likely to deliberate on the findings of the report during its forthcoming meeting on May 21.
Reserves had increased by USD 1.876 billion to USD 413.781 billion last week.
According to the draft, the target applicants for entry to the RS are financial technology (fintech) firms which meet the eligibility conditions prescribed for start-ups by the government.