HC pulls up RBI for leaving it to PMC bank to decide depositors requests for money in emergencies

Punjab and Maharashtra Cooperative Bank has been put under restrictions, including limiting withdrawals, by the RBI, following the unearthing of a Rs 4,355-crore scam.

published on : 1st December 2020

Lakshmi Vilas Bank customers can access all services; no change in interest rates as of now: DBS

The amalgamation provides stability and better prospects to LVB's depositors, customers and employees following a period of uncertainty.

published on : 30th November 2020

RBI likely to maintain status quo for third straight time on inflation concerns

The central bank is likely to continue with the accommodative monetary stance keeping the hope alive for a rate cut as and when needed.

published on : 29th November 2020

Banks for billionaires in RBI’s wonderland

Last week, the Reserve Bank of India released the Report of the RBI’s Internal Working Group to Review Extant Ownership Guidelines and Corporate Structure for Indian Private Sector Banks.

published on : 29th November 2020

Recession stays, but recovery faster than thought

Assuming a 5-6% trendline growth, the effective output loss during the first half of the current fiscal is upwards Rs 20 lakh crore.

published on : 28th November 2020

Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

Many stakeholders including bank unions have raised questions on the manner in which the LVB was merged with subsidiary of a foreign bank, saying that RBI has gifted LVB for free.

published on : 27th November 2020

Forex reserves climb USD 2.518 billion to record USD 575.29 billion

The increase in the forex kitty was on account of a rise in foreign currency assets, a major component of the overall reserves.

published on : 27th November 2020

RBI has set precedence in LVB bond write-off, will hurt other banks: Report

During the Yes Bank rescue earlier this year also, there was an over Rs 7,000-crore bond write-off, but that involved a different instrument called additional tier-I bonds.

published on : 27th November 2020

Capital account convertibility will continue to be a process, rather than an event: RBI Governor Shaktikanta Das

It can be noted that capital account convertibility is a very sensitive subject as it deals with liberalisation of capital transactions into and out of a country.

published on : 26th November 2020

Economic recovery stronger than expected, need to be watchful of demand sustainability: Shaktikanta Das

It can be noted that the Indian economy contracted by 23.9 per cent in the first quarter of the fiscal year, and the RBI expects the economy to shrink by 9.5 per cent in FY21.

published on : 26th November 2020

Reserve Bank may decide to leave policy rates unchanged

Officials said that while food inflation will come down by December, with global crude prices rising in anticipation of a Covid vaccine, central banks would be cautious about inflation rates.

published on : 26th November 2020

Amazon-Future tussle: Singapore's arbitration court rejects Future Retail's plea

According to the sources close to the development, FRL had approached the Court of SIAC saying the arbitration proceedings were part of a contract to which the company is not a party.

published on : 26th November 2020

Lakshmi Vilas Bank-DBS Bank merger effective from November 27: RBI

Depositors of Lakshmi Vilas Bank will be able to operate their accounts as customers of DBS Bank India with effect from Friday.

published on : 25th November 2020

BofA sees Q2 growth improving to -7.8 per cent as against 24 per cent contraction in June quarter

It can be noted that the policy of trying to allow the rupee to appreciate at the cost of forex reserves in 2009-11 finally led to massive depreciation in 2011, 2013 and 2018.

published on : 25th November 2020

Reserve Bank of India blocks Muthoot Fin-IDBI MF deal

Promoted by IDBI Bank in 2010, IDBI MF runs 22 schemes with robust Assets Under Management (AUM) across products.

published on : 25th November 2020
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