RBI Governor’s announcements may not serve right purpose: CIA

Consortium of Indian Associations (CIA), while welcoming the recent announcements by RBI Governor Shaktikanta Das on restructuring of advances for viable MSMEs, has however said, “though on the face of it , looks a timely right decision, but on seeing the directive from RBI, it appears that it may not serve the real purpose of either supporting viable MSMEs or avoidance of NPA increase in banks.” Continue Reading

RBI to introduce Positive Pay cheque system in banks

To enhance safety of cheque payments, the Reserve Bank of India (RBI) on Thursday said that it has decided to introduce a mechanism of ‘Positive Pay’ for all cheques valued Rs 50,000 and above. Continue Reading

NABARD, NHB get Rs 10,000 cr liquidity facility from RBI

The Reserve Bank of India has once again turned its attention to meeting the funding requirements of NBFCs, MFIs and housing finance by providing additional special liquidity facility of Rs 10,000 crore to National Housing Bank (NHB) and the National Bank for Agriculture and Rural Development (NABARD). Continue Reading

RBI leaves repo rate unchanged, announces Rs 10,000 cr special fund

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 4 per cent, the apex bank’s Governor Shaktikanta Das said today. Continue Reading

“Great lockdown to lead to global GDP loss of US$ 9 trillion”

Reserve Bank of India (RBI) Governor Shaktikanta Das today said that IMF Economic Counsellor has named it “The Great lockdown” estimating cumulative loss to global GDP over 2020-21 at around 9 trillion US dollars, which is greater than the economies of Japan and Germany combined. Continue Reading

RBI to conduct TLTRO worth Rs 25k cr

In a bid to ease the liquidity strain caused due to Covid-19 outbreak and its subsequent economic fallout, the Reserve Bank of India on Wednesday decided to conduct a targeted long-term repo operation (TLTRO) worth Rs 25,000 crore on 17 April. Continue Reading

G -20 Finance Ministers, central bank Guvs to meet 15 April

Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das will on 15 April participate in the meeting of the G-20 countries todiscuss the way forward in supporting the economy after the COVID-19 pandemic. Continue Reading