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Finance & Banking

Won't allow foreign deposit redemptions to disrupt market: Rajan

August 9, 2016 by shekarm

Allaying fears of market disruption in view of USD 20 billion worth of redemptions in foreign deposit accounts in the coming months, the Reserve Bank today said it will continue with domestic liquidity operations and foreign exchange interventions to ensure smooth repayments.

In the Third Bi-monthly Policy Statement for 2016-

RBI launches portal to curb illegal money pooling by firms

August 4, 2016 by shekarm

To curb illegal and unauthorised pooling of funds by unscrupulous firms, Reserve Bank today launched a website, which will help people obtain information about entities allowed to collect deposits.

Launching the portal -- sachet.rbi.org.in -- RBI Governor Raghuram Rajan said that initiating quick follow up and taking cases to

RBI prevents industrial firms from setting up banks

August 1, 2016 by shekarm

The Reserve Bank of India said large industrial companies will only be allowed to invest up to 10 percent in banks, and thus, will not be allowed to set up lenders, according to final guidelines for banking licenses issued on Monday.

Banking transactions of govt employees under scanner

July 25, 2016 by shekarm

The Central Vigilance Commission (CVC) has started examining "suspicious" banking transactions of government employees to check corruption.

The first-of-its-kind initiative has been started under the aegis of Central Vigilance Commissioner K V Chowdary, who late last year got the anti-corruption watchdog included in the list

Forex down by USD 1.228 bn to USD 361.943 bn

July 16, 2016 by shekarm

Country's foreign exchange reserves declined by USD 1.228 billion to USD 361.943 billion in the week to July 8 due to a fall in foreign currency assets, the Reserve Bank said today.

Last week, the reserves had surged by USD 2.374 billion to USD 363.171 billion.
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Brexit is not good for world: SBI Chairperson

July 5, 2016 by shekarm

Brexit is "not the right thing" for the more connected and more collaborative world, SBI Chairperson Arundhati Bhattacharya has said, describing it as a step back in the time of globalisation.

"I believe that we will benefit more by globalisation.

RBI appoints Sudarshan Sen as Executive Director

July 4, 2016 by shekarm

RBI today said it has appointed Sudarshan Sen as an Executive Director in place of N S Vishwanathan, who has been elevated as Deputy Governor at the central bank.

Sen has taken charge from today, RBI said in a release.

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Indian money in Swiss banks dips 33% to Rs 8,392 cr

June 30, 2016 by shekarm

Money held by Indians in Swiss banks has fallen by nearly one-third to a record low of 1.2 billion franc (about Rs 8,392 crore) amid a continuing global clampdown on the famed secrecy wall of Switzerland's banking system.

The funds held by Indians with banks in Switzerland fell by CHF 596.42 million to CHF 1,217.6 million at

India appoints Vishwanathan as new RBI deputy governor - TV

June 28, 2016 by shekarm

A government-appointed panel has selected N S Vishwanathan as a Reserve Bank of India deputy governor, replacing incumbent H R Khan, NDTV Profit TV and ANI television news agency reported on Tuesday without citing sources.

Indian banks' bad loans may rise to 8.5 percent by March 2017 - RBI

June 28, 2016 by shekarm

Gross bad loans at Indian banks may rise to 8.5 percent of total assets by March 2017 from 7.6 percent in March 2016 if the central bank orders them to conduct a second round of asset quality reviews, a Reserve Bank of India (RBI) report said on Tuesday.

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