RBI hikes housing loan limit of cooperative banks by 100%
Central bank has permitted rural cooperative banks to extend finance to commercial real estate, Das said.
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Central bank has permitted rural cooperative banks to extend finance to commercial real estate, Das said.
RBI clarifies that no changes are expected to the current banknotes in circulation and the rumours in the media should not be considered.
RBI going for another round of rate hikes in the next week's review of monetary policy
Governor Shaktikanta Das said the RBI will also announce a revised inflation projection at its June meeting.
Looking at the current economic crisis in Sri Lanka and the difficulties faced by exporters in getting payments from the failing island nation. The Reserve bank of India on Thursday allowed settlement of trade transactions in Indian rupees outside the Asian Clearing Union (ACU) mechanism.
The Reserve Bank of India has sold a net $20.1 billion in the spot foreign exchange market in the month of March to support slipping down rupee against the US dollar.
The examination of the six applications was conducted as per the guidelines and then the necessary decisions were taken
According to Bloomberg, India's central bank is intervening in all foreign exchange markets and will continue to do so in order to safeguard the rupee, which hit a new low on Monday.
According to news agency PTI, foreign investors withdrew around 6,400 crore from the Indian equity market in the first four trading sessions of the current month after the Reserve Bank of India (RBI) and the US Federal Reserve boosted interest rates.
The Reserve Bank of India Governor Shaktikanta Das said made a statement today at 2 pm and the statement comes at a time when inflation has increased and remained over the RBI's upper tolerance band of 6%.
According to the RBI, a lack of market discipline, implicit government guarantees, and recurrent and unconditional recapitalization of public sector banks could create a moral hazard problem.
The bank has violated Know Your Customer (KYC) norms & guidelines on outsourcing of financial services.
Fino Bank will offer the referral services of FD and RD to its over 3.9 million customers.
Axis Bank has been fined 93 lakh rupees, while IDBI Bank has been fined 90 lakh rupees by the Reserve Bank, according to an official statement issued by the Central bank on Friday.
Das has also stated that the net worth requirement for the Bharat Bill Payments System Operating Units has been lowered from Rs 100 crores to Rs 25 crores only.
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