RBI puts Rs 1,000 withdrawal cap on Deccan Bank

The Reserve Bank of India said it has barred Karnataka-based Deccan Urban Co-operative Bank Ltd from granting fresh loans or accepting deposits, and customers cannot withdraw more than Rs 1,000 from their savings account for a period of six months. Continue Reading

‘Four mid-size banks identified for potential privatisation’

The Central government has shortlisted four mid-sized state-run banks for privatisation, under a new push to sell state assets and shore up government revenues, three government sources said. Continue Reading

RBI likely to maintain status quo on interest rate

The Reserve Bank of India is likely to maintain a status quo on benchmark interest rate in its next monetary policy meet outcome to be announced on February 5, four days after the presentation of the Union Budget 2021-22. Continue Reading

India within striking distance of attaining positive growth: RBI

India’s GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter ‘V’ in the V-shaped recovery stands for vaccine. Continue Reading

Bank credit grows 3.2% in first nine months of FY21

Bank credit grew 3.2 per cent to Rs 107.05 lakh crore in the first nine months of the current financial year, against a growth of 2.7 per cent registered in the corresponding period of 2019-20. Continue Reading

RBI flags concerns over high govt debt

The Reserve Bank has said the increased government borrowing due to the pandemic has intensified concerns over its sustainability and led to fears of crowding out the private sector. Continue Reading