Tag: RBI
17 Results
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Gold bonds open ahead of Dhanteras, Diwali at Rs 3,835 per gram of gold
The scheme will shut on October 25, 2019.
October 21, 2019 -
Central government’s outstanding loans from RBI down to Rs 402 crore in week ended Oct 11
The state governments had loans worth Rs 5,179 crore from the RBI in the week ended October 11, compared with Rs 7,886 crore in the previous week.
October 19, 2019 -
PMC Bank crisis: Man, 83, dies after being unable to withdraw funds for heart surgery; 4th death this week
After finding certain irregularities in the PMC Bank, the Reserve Bank of India (RBI) has barred the bank from carrying out almost all its routine banking activities for six months.
October 19, 2019 -
PMC Bank crisis: SC refuses to entertain plea on ensuring around 15 lakh customers
A bench headed by Chief Justice Ranjan Gogoi asked the petitioner to approach High Court for seeking relief on his plea.
October 18, 2019 -
Banks and Us
The turmoil in the financial sector has placed ordinary citizens in an unenviable position. With stressed banks and failing companies, the average person does not know where to put his hard-earned money. Perhaps, we have reached the position envisioned by the Nobel Laureate Joseph E Stiglitz: We have banks that are not only too big to fail, but too big to be held accountable.
October 17, 2019 -
RBI increase PMC bank withdrawal limits to 40,000
With this recent relaxation, over 77 per cent of the bank’s customers will now be able to withdraw their entire account balance.
October 15, 2019 -
Government soon to place new Data Protection Bill in Parliament
The bill restricts and imposes conditions on the cross border transfer of personal data, and suggests setting up of Data Protection Authority of India to prevent any misuse of personal information.
October 15, 2019 -
Sitharaman meets PMC Bank clients, says will talk to RBI Governor over customers’ distress
The bank has come on the regulatory radar after Housing Development & Infrastructure Ltd and its directors failed to repay a Rs 4,355 crore loan taken from PMC Bank putting the bank under liquidity stress.
October 10, 2019 -
Sensex opens 180 points higher led by banks
The private banks and financial service stocks declined sharply following the MPC results.
October 7, 2019 -
RBI slashes repo rate by 25 basis points to 5.15%; loans to get cheaper
The RBI's monetary policy committee (MPC) in its fourth policy review of the current fiscal also revised the GDP outlook for FY2019-20 to 6.1 per cent from the previous 6.9 per cent.
October 4, 2019 -
HDIL promoters, PMC Bank board members charged with money laundering in loan default case
Rakesh Kumar Wadhawan, the Chairman, and Sarang Wadhawan, Managing Director of HDIL were arrested by the Economic Offences Wing (EOW) of the Mumbai Police earlier on Thursday.
October 4, 2019 -
PMC Bank crisis : Nirmala Sitharaman appeals to not do ‘such extreme things’ on ‘consume poison’ tweet
A Twitter user named Rakesh Bhat, replied to the tweet saying 'people are bound to consume poison and die'.
October 1, 2019 -
Wooing the Corporates
The present economic downturn could probably have been handled better if the Government had decided to invest at least part of the Rs 1,45,000 crore of the foregone tax revenues in rural infrastructure and jobs because corporates have deep pockets and easy access to credit and make investment decisions at only the right moment whereas poorer sections of society are likely to spend any extra money quickly either in income generating activities or in consumption.
October 1, 2019 -
RBI imposes corrective action against Lakshmi Vilas Bank
The PCA comes after the RBI carried out an on-site inspection of the Bank on March 31 under Risk-Based Supervision.
September 28, 2019 -
RBI raises PMC Bank withdrawal limit to Rs. 10,000, MD Joy Thomas suspended: Reports
Punjab & Maharashtra Cooperative (PMC) Bank, Reserve Bank of India today increased the withdrawal limit from Rs 1,000 to Rs 10,000.
September 26, 2019 -
RBI puts PMC Bank under restriction, withdrawal of more than ₹1,000 not allowed
Without the prior approval in writing from RBI, the Urban Co-operative Bank will also not be able to grant or renew any loans and advances, make any investment.
September 24, 2019 -
Bank officers to go on strike against mergers from Sept 25-27
The Centre had on August 30 announced four mega public sector bank mergers.
September 13, 2019