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Loan Moratorium Case: SC schedules next hearing on November 18
The pleas sought that no interest should be charged during the moratorium as citizens were facing “extreme hardship, whereby business and work have come to a halt and the entire market has crashed.
Supreme Court to resume hearing in loan moratorium case today
The Supreme Court on Monday will resume the hearing over a batch of pleas requesting a waiver of interest charged by banks on EMIs during the RBI's six-month loan moratorium period.
RBI imposes fine of Rs 4.50 crore on IndusInd Bank
A show-cause notice has been issued to Induslnd Bank. The bank has been directed to pay the monetary penalty after considering its reply to the notice, examination of additional submissions and oral submissions made during the personal hearing.
Reserve Bank of India announces Open Market Operations (OMO) purchase of State Government Securities
Reserve Bank of India is going to conduct an auction of State Development Loans for Rs 10,000 crore next Thursday.
Indian economy to contract 9.5% in FY21, states RBI governor
The Indian economy will contract 9.5% in fiscal 2021 due to disruptions caused by the COVID-19 pandemic, according to Shaktikanta Das, Governor, Reserve Bank of India.
Nifty Bank gains 0.6% amid MPC meeting starting from today onwards
Investors remained bullish towards banking stocks as the Reserve Bank of India commenced monetary policy meeting from Wednesday. Nifty Bank Index touched a level of 23,036.20, up by 0.6%. The sectoral Index opened at 22,836.95 level.
RBI reschedules Monetary Policy Committee meeting to 2-4 December 2020
On Monday, the Reserve Bank of India (RBI) announced that the Monetary Policy Committee meeting is rescheduled. The meeting was initially scheduled for 29, 30 September, and 1 October.
On loan moratorium, SC: interest on interest, we are inclined to pass an order that it may not be debited
The Supreme Court observed that the debiting of interest on interest should not be allowed. It is likely to pass an order restricting such a practice.
RBI to set up an ‘Innovation Hub’ for creating New Ideas and Innovation
RBI Executive Director T Rabi Sankar participated in a virtual conference organized by FICCI (Federation of Indian Chambers of Commerce & Industry). In the conference, he spoke about RBI's plan to set up an innovation hub.
Finance Minister to hold a review meeting with top management of Banks
Finance Minister Nirmala Sitaraman will be holding a review meeting with top officials of banks and other financial institutions on September 3rd.
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