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Reserve Bank of India

RBI Issues Draft Norms on Dividend Declaration by Banks | Zee Business

RBI Issues Draft Norms on Dividend Declaration by Banks | Zee Business

Wed, Jan 03, 2024

RBI issued draft circular on dividend declaration of banks, new rules will be implemented from financial year 2025, sought suggestions from stakeholders till January 31, rules for all Commercial Bank, SFB, Payment Bank, Regional Bank

RBI MEET: Will the MPC maintain the status quo and keep rates steady for the fifth consecutive time?

RBI MEET: Will the MPC maintain the status quo and keep rates steady for the fifth consecutive time?

Thu, Dec 07, 2023

Even as the three-day RBI MPC meeting has started on Wednesday, all eyes are on the interest rate-setting panel’s decision on Friday. Experts, however, expect a status quo on the key policy rates as inflation is gradually coming closer to the RBI’s target level and economic growth is picking up. RBI Governor Shaktikanta Das-headed Monetary Policy Committee has begun its three-day deliberations on December 6. Das would unveil the decision of the six-member MPC on the last day of the meeting--December 8 (10.00 AM).

RBI MPC MEETING: Will Interest Rates Rise, Fall or Pause? What to Anticipate This Week

RBI MPC MEETING: Will Interest Rates Rise, Fall or Pause? What to Anticipate This Week

Tue, Oct 03, 2023

After hiking the repo rate six consecutive times since last year, the RBI hit the pause button and kept the repo rate unchanged in the last three MPC meetings this year. The next bi-monthly MPC meeting is set to take place from October 4-6, with the decision set to be announced on Oct 6, 2023.

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RBI to take time to examine LVB-IHFL merger deal: Report

RBI to take time to examine LVB-IHFL merger deal: Report

Wed, Apr 10, 2019

In a statement the RBI had noted that it would examine the proposal as per extant regulatory guidelines and directions.

RBI imposes Rs 1 lakh penalty on Lucknow-based co-op bank

RBI imposes Rs 1 lakh penalty on Lucknow-based co-op bank

Wed, Apr 10, 2019

The Reserve Bank Wednesday said it has imposed a penalty of Rs 1 lakh on UP Postal Primary Co-operative Bank, Lucknow for violation of norms regarding shifting of its branch.

SBI cuts loan rates by 5 bps: 5 things you must know

SBI cuts loan rates by 5 bps: 5 things you must know

Wed, Apr 10, 2019

Country's largest public sector lender State Bank of India has followed its smaller peers to cut the lending rates by 5 basis points across all tenors with effect from April 10. This is the bank's first rate cut announcement since November 2017.

Banks reduce interest on home, auto loans post-RBI cut

Banks reduce interest on home, auto loans post-RBI cut

Tue, Apr 09, 2019

Within days of the Reserve Bank of India (RBI) lowering its key lending rate, state-run State Bank of India (SBI) on Tuesday reduced its benchmark marginal cost of funds based lending rate (MCLR) and home loan rates, effective from April 10.

Zero Balance Account: Here are some dos and don'ts if you have Basic Savings Bank Deposit (BSBD) Account

Zero Balance Account: Here are some dos and don'ts if you have Basic Savings Bank Deposit (BSBD) Account

Tue, Apr 09, 2019

BSBDA customer cannot have any other savings bank account in the same bank. If 'Basic Savings Bank Deposit Account’ is opened on the basis of simplified KYC norms, the account would additionally be treated as a 'Small Account' and would be subject to conditions stipulated for KYC norms / AML standards / Combating of Financing of Terrorism (CFT) / Obligation of banks.

New RBI guidelines for currency chests: Processing capacity of 6.60 lakh banknotes per day, CBL of at least Rs 1000 cr

New RBI guidelines for currency chests: Processing capacity of 6.60 lakh banknotes per day, CBL of at least Rs 1000 cr

Tue, Apr 09, 2019

The Reserve Bank of India on Monday issued fresh guidelines or banks to set up new currency chests. As per the new guidelines, the area of the room or vault should be at least 1500 sq. ft. In case of hilly/ inaccessible places, the area of the strong room or vault should be at least 600 sq. ft.

Bank account opening problem? Do not let it stop you, check out 'Small Account'

Bank account opening problem? Do not let it stop you, check out 'Small Account'

Tue, Apr 09, 2019

A person can open a "Small Account" on the basis of a self-attested photograph and putting his/her signatures or thumbprint in the presence of an official of the bank. It is reiterated that while opening accounts based on Aadhaar also, banks must satisfy themselves about the correct address of the customer by obtaining required proof of the same as per extant instructions.

On Lakshmi Vilas Bank and Indiabulls Housing merger plan, RBI reacts

On Lakshmi Vilas Bank and Indiabulls Housing merger plan, RBI reacts

Sun, Apr 07, 2019

The companies had said in a filing on Friday that they will merge operations in a share-swap deal.

Supreme Court 'February 12' Circular Ruling Impact: It does not disturb creditors' rights to insolvency proceedings, says Sahoo

Supreme Court 'February 12' Circular Ruling Impact: It does not disturb creditors' rights to insolvency proceedings, says Sahoo

Sun, Apr 07, 2019

Sahoo said the court's judgement does not disturb rights of creditors to initiate insolvency proceeding or any provision in the Insolvency and Bankruptcy Code (IBC).

Jalan panel norms to apply to current, future RBI reserves

Jalan panel norms to apply to current, future RBI reserves

Fri, Apr 05, 2019

A senior Finance Ministry source said that the central bank's profit distribution policy as suggested by the Jalan committee report, if accepted, will be applicable on the current as well as future surplus reserves of the RBI.

Senior Citizen? Do you know about this facility? Your bank must provide

Senior Citizen? Do you know about this facility? Your bank must provide

Fri, Apr 05, 2019

Under this provision, senior citizens above 70 years can do certain basic banking transactions from their home, as the bank will arrange to have cash or cheque picked from their home against receipt.

Online frauds: Know when you have zero liability for unauthorised transactions

Online frauds: Know when you have zero liability for unauthorised transactions

Fri, Apr 05, 2019

Online banking fraud liability: In the wake of rising number of online frauds across the country, it has become necessary for customers to be aware of rules that will help them recover their losses

Will home loan rates fall for you after RBI repo rate cut? Find out

Will home loan rates fall for you after RBI repo rate cut? Find out

Thu, Apr 04, 2019

RBI may have cut the repo rate by 25 bps today to 6% and expectations are that home loan, auto loan and other loan rates will fall. But will they?

Realtors want banks to pass on rate cut benefits to borrowers

Realtors want banks to pass on rate cut benefits to borrowers

Thu, Apr 04, 2019

The RBI's decision to cut the key interest rate will boost housing sales and lift market sentiment, property developers and consultants said Thursday.

RBI to ensure strict turnaround time for customer plaints

RBI to ensure strict turnaround time for customer plaints

Thu, Apr 04, 2019

The Reserve Bank Thursday proposed to put in place a turnaround time (TAT) framework to resolving customer complaints without much delays, by the end of June.

RBI to hold more talks with banks on linking home, auto loans with external benchmark

RBI to hold more talks with banks on linking home, auto loans with external benchmark

Thu, Apr 04, 2019

The statement was issued after the three-day meeting of the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das.

RBI cuts repo rate by 25 basis points to 6%. Here is what experts have to say

RBI cuts repo rate by 25 basis points to 6%. Here is what experts have to say

Thu, Apr 04, 2019

"Given the volatility in Inflation due to Oil prices, MPC has lowered targets by 40bps with keeping buffer rate cuts if the inflation goes lower." said Sameer Kalra

RBI monetary policy: Central bank votes 4-2 for 2nd consecutive repo rate cut; read full statement

RBI monetary policy: Central bank votes 4-2 for 2nd consecutive repo rate cut; read full statement

Thu, Apr 04, 2019

RBI Monetary Policy: The reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent.

Government, RBI will have to bring new rules: Amitabh Kant on SC order on NPA circular

Government, RBI will have to bring new rules: Amitabh Kant on SC order on NPA circular

Wed, Apr 03, 2019

Meanwhile, on the rash of announcements on income support like the Congress promise of ensuring an annual income of Rs 72,000 each to 20 crore families through the Nyay scheme, which would involve an outgo of Rs 3.6 lakh crore per annum, Kant flagged the need to look at growth.

Economists aim for at least 25 bps rate cut by RBI

Economists aim for at least 25 bps rate cut by RBI

Tue, Apr 02, 2019

A panel of economists, including former Chief Economic Adviser Arvind Virmani, Tuesday called for at least 0.25 percentage point rate cut in the RBI's first monetary policy of the current fiscal.

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