Economic recovery to be gradual: RBI Governor

Reserve Bank of India Governor Shaktikanta Das has said the country’s economic recovery is likely to be gradual as the rising infections continue to pose a risk. Continue Reading

ED slaps Rs 100 cr ban on Standard Chartered Bank

Following the probe taken up based on reference received from the Reserve Bank of India (RBI), the ED had issued a showcause notice to TMB, its directors, Standard Chartered Bank and one of its officials for contravening FEMA. Continue Reading

RBI raises credit limits

The Reserve Bank of India (RBI) on Friday released its revised priority  sector lending guidelines wherein the credit limits have been raised for farmer  producer organisations, renewable energy and for health infrastructure. Continue Reading

Banker Kamath to head RBI panel

The Reserve Bank of India (RBI) on Friday announced the constitution of an expert committee led by KV Kamath to make recommendations on a special window for Covid-related stressed assets under the bank’s “Prudential Framework on Resolution of Stressed Assets”. 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