Meanwhile, country's foreign exchange reserves fell by USD 3.039 billion to USD 410.070 billion in the week to June 15, a RBI data showed.
Effective June 22, 2018, the distribution of portfolios amongst the deputy governors has been reallocated.
In a country which is no stranger to periodic bailouts of state electricity boards, it is now thermal power producers who are battling high debt and operating at low capacity utilisation.
The bank has now become the latest entrant in a growing list of lenders without leaders
RBI made its stand clear at a stakeholders' meeting, called by the ministry to discuss the circular, the implementation of which was stayed for the power sector by Allahabad High Court. The next hearing is on July 10.
As per the timeline, banks have to implement a host of security measures by August and upgrade all ATMs with supported version of operating in a phased manner by June next year.
The final decision to appoint the consultants will be taken by Srikrishna, who is heading the independent enquiry panel
Sriram has been working as the MD (Corporate and Global Banking) in SBI since July 2014.
B Sriram Managing Director of SBI appointed as the MD and CEO of IDBI Bank for a temporary period of three months. The previous CEO of IDBI Mahesh Kumar Jain was recently named Deputy Governor of the Reserve Bank of India (RBI).
At its policy meet in June, the MPC also revised its inflation forecast to 4.8-4.9 percent for the first half of FY19 and to 4.7 percent for the second half
The bank, however, deleted the tweet and apologised later. It admitted that the earlier tweet was “inappropriate and inadvertent.”
Under the LRS, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year for any permissible current or capital account transaction or a combination of both.
"Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the Reserve Bank has decided to conduct purchase of Government securities under Open Market Operations (OMO)," the central bank said.
There is a condition however that the overall cost of the dwelling unit in the metropolitan centre (with population of ten lakh and above) and at other centres should not exceed Rs 45 lakh and Rs 30 lakh, respectively, for being classified as priority sector.
ICICI Bank's Board created a new position of a Chief Operating Officer (COO) overnight, to be occupied by Sandeep Bakhshi, who will report to CEO & MD Chanda Kochhar
At the end of the December quarter, bank credit stood at Rs 80.62 trillion compared to Rs 77.95 trillion in the September 2017 quarter, as per the RBI data.
Earlier this month, Reserve Bank of India had came out with draft guidelines on loan system for delivery of bank credit to improve discipline among larger borrowers enjoying working capital facility from the banking system.
This will complement the bank's existing capital market offerings and enable it to play a larger role in channelising domestic and foreign investments into Indian financial market, Yes Bank said in a statement.
"No FPI shall have an exposure of more than 20 per cent of its corporate bond portfolio to a single corporate (including exposure to entities related to the corporate)," RBI said.
The union support has come as a letter to the governor yesterday from the All-India Reserve Bank Employees Association.
In the letter, the union thanked the governor for bringing to the fore regulatory impediments that the RBI is suffering from with regard to public sector banks.
Market analysts call Indian rupee overvalued and predict that it may reach up to Rs 70 per dollar, possibly, by the next year
ICRA's principal economist Aditi Nayar says the Monetary Policy Committee’s (MPC) surprise decision wisely hedges before the crucial data on monsoon, minimum support prices (MSP) and volatile global oil prices play out going forward.
The CAD is a keenly watched space that signifies the strength of an economy from an external sector point of view and also influences the currency markets.
The Reserve Bank official today asked these lenders to focus more on the medium and small segments where returns are much higher.