Depositors will unable to withdraw over Rs 1,000 of their total savings or current account balance.
In all likelihood, surplus from RBI will act as cushion against a possible shortfall in revenue collection in FY20 and not as a growth booster
RBI Governor Shaktikanta Das said that it is time to formalise the linking of lending rates on new loans to external benchmarks like the repo rate.
GDP growth forecast for FY20 was cut to 6.9 percent from the earlier 7 percent.
The panel is likely to suggest a phased transfer of the RBI's excess funds to the government.
The central bank has already reduced the repo rate thrice in the last three reviews.
Since February, the central bank has reduced the repo rate by 75 basis points in three successive reviews.
The RBI’s inspection report and its evaluation of ICICI Bank’s management has no warning of the Videocon-ICICI fiasco that followed or the controversies surrounding the private bank’s CEO and MD Chanda Kochhar
Several images of the report pointed at deficiencies spanning SBI’s operations -- from management quality to overall functioning of the bank -- as documented by RBI
The gross non-performing assets in agricultural bank loans went up from around 5 percent of advances to the sector in March 2017 to 8.4 percent by September 2018.
Net liquidity of the banking system continues to be in deficit mode for the 10th consecutive week prompting RBI to scale up liquidity infusion
If demonetisation had not occurred then GDP growth in the September-December 2016 quarter would have been 2 percentage points higher.
Coal Minister Piyush Goyal, who manned had North Block when Jaitley was on medical leave, hit out at RBI for making "unreasonable" amendments to the framework.
RBI's move comes after the American messaging application raised concerns over the delay in approving its proposed payment business
RBI's relaxation would primarily benefit HFCs where the loan tenure is typically more than 5 years with greater proportion HFCs’ loan book now becoming eligible for securitisation.
He claimed that during the past 15 days, the situation has improved and the only problem is the increase in interest rates, as the cost of funds has gone up from 7 percent in recent past to 8 percent now.
The central bank has been trying to ease the liquidity through the open market operations, wherein it buys government bonds from banks and releases money into the system
The government may choose to invoke Section 7 of the RBI Act, 1934 if the discussions between the government and RBI break down
Most major payment companies have already started looking at ways to deal with the likely tax implication, the report said
The aim of the RBI's move is to reduce instances of fraud and ensure that consumer's confidence in the digital payment systems goes up
Among private banks, the NPAs from the MSMEs rose to 2.61 per cent at the end of March 2018 from 2.38 per cent a year ago
In our Macro segment, we tell you about India’s upgrade to BS-VI emission norms from April 2020
This blog will keep you posted on the latest developments around the ongoing rift between the government and the Reserve Bank of India (RBI)