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Tag Archives: RBI

RBI initiates PCA against Corporation Bank

  Mumbai: The Reserve Bank of India (RBI) has initiated “prompt corrective action” (PCA) against state-run lender Corporation Bank in the view of its high non-performing assets (NPAs). “The RBI vide their letter dated December 7, 2017 has placed the bank under PCA framework in view of high NPA and requirement to raise capital of the…

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Sensex, Nifty plunge after RBI maintains key lending rates 

  Mumbai: The key indices of the domestic equity markets plunged after the Reserve Bank of India (RBI) belied investors’ expectations of reduction in key lending rates. Consequently, the two key indices — S&P BSE Sensex and NSE Nifty50 — traded deep in the red, just minutes after the RBI came out with its fifth monetary…

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Equity indices in red ahead of RBI policy review outcome 

  Mumbai: Key Indian equity indices on Wednesday traded in the red during the mid-afternoon session as investors remained cautious ahead of the outcome of the Reserve Bank of India’s (RBI) two-day policy review meet due later during the day. Besides, negative Asian markets, coupled with heavy selling pressure in metals, banking and auto stocks, kept…

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RBI expected to hold key interest rate on Wednesday

  Mumbai: The Reserve Bank of India (RBI) is expected to keep its key interest rate unchanged at its penultimate monetary policy review of the fiscal on Wednesday owing to higher inflation in October and a surge in oil prices, even as the reversal in the decline of GDP growth during the second quarter has eased…

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RBI cautions co-operative societies against using bank in name

  Mumbai: The Reserve Bank of India (RBI) on Wednesday cautioned some co-operative societies against the use of word “Bank” in their names. “It has come to the notice of RBI that some Co-operative Societies are using the word – Bank – in their names. This is a violation of Banking Regulation Act, 1949 (As Applicable…

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RBI Governor at centre of Ravi Subramanian’s next thriller

  New Delhi:Former Reserve Bank of India (RBI) Governor Raghuram Rajan may have stopped making headlines every other day but his tenure is enough inspiration for leading thriller writer Ravi Subramanian to pen a novel with RBI governor at its centre and demonetisation perhaps its climax. “Don’t Tell The Governor” will be published by HarperCollins…

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RBI insolvency move to resolve NPAs not correct: Reddy

  New Delhi:The Reserve Bank of India’s (RBI) move to direct banks to take the major debt defaulters through the route of insolvency in order to tackle non-performing assets (NPAs) was principally “not correct”, former RBI Governor Y.V. Reddy said on Friday. “It is essentially a problem of the public sector banks, which are owned…

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RBI asks large borrowers to get identifier code from banks

  Mumbai: In a move to improve risk management post the global financial crisis, the RBI on Thursday said it has decided that corporate borrowers having exposure of Rs 50 crore and above will have to mandatorily obtain the 20-digit Legal Entity Identifier (LEI) from banks. “It has been decided that the banks shall advise their…

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Bank recapitalisation monumental step to save economy: RBI chief

  Mumbai: The government’s Rs. 2.11 lakh crore plan to recapitalise public sector banks is a major step to restore the banking system’s health and safeguard the countrys economic future, RBI Governor Urjit Patel said on Wednesday. “The government’s decisive package to restore the health of the Indian banking system is in the view of the…

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