'Restoring the durability of private consumption, which has remained historically the mainstay of aggregate demand will be very crucial going forward.'
DICGC has also asked the banks to circulate consent form to account holders for accessing funds up to Rs 5 lakh as per the amended law within 90 days.
RBI will signal lift-off in interest rates through policy stance, prefers jump in bank credit to reduce liquidity surplus
The RBI is absorbing over Rs 9 lakh crore per day through the reverse repo corridor as the bank credit growth stutters around the 6 per cent mark.
Tamil Nadu (Rs 15,44,935 cr), Karnataka (Rs 13,40,350 cr), West Bengal (Rs 11,04,866 cr) are ahead of Telangana in that order.
The last MPC meet saw one of the six members dissenting on the stance, and asking for a rollback of the accommodative stance.
A penalty of Rs 5 lakh has been imposed on The Swasakthi Mercantile Cooperative Urban Bank, Vijayawada.
As the second wave ebbs, the Reserve Bank of India (RBI) now plans to conduct fine-tuning operations to manage unanticipated one-off liquidity flows.
The corporate results announced so far indicate that there is a substantial recovery in corporate GVA EBIDTA in Q1 FY.
As of November 2020, prior to the embargo period, the bank would source three lakh new cards every month.
“The UO should be financially strong and be well governed by a professional board and senior management, both of which are fit and proper.
Forex reserves set to top USD 655 bn by Mar as RBI continues to run down dollar forward book: Report
RBI bought record gold in the past year, up over 27 per cent in two years at over 705 tonnes. At around USD 620 billion, the reserves can cover 16 moths of imports.
These are perhaps the most important minutes kept of a meeting. The Reserve Bank of India’s monetary policy committee meets every two months to determine key borrowing rates.
IBA, entrusted with the task of setting up a bad bank, has put a preliminary board for NARCL in place. The company has hired P M Nair, a stressed assets expert from SBI, as the managing director.
The revised instructions will be applicable to both new and existing safe deposit lockers and the safe custody of articles facility with the banks.
'With the lifting of the restriction on cards acquisition, all the preparations and strategising that we have put in place to 'come back with a bang' will now be rolled out,' Jagdishan said.