Articles tagged under: RBI

RBI cuts repo rate by 25 bps, third in row; also removes charges levied on RTGS, NEFT transactions

June 06, 2019
RBI cuts repo rate by 25 bps, third in row; also removes charges levied on RTGS, NEFT transactions

Mumbai: Reserve Bank of India (RBI) will do away with the charges levied for transactions processed in the RTGS and NEFT systems. Banks will be required to pass these benefits to their customers. Instructions to banks in this regard will be issued within a week. The announcement was made in the Statement on Developmental and Regulatory Policies, released today as part of RBI's monetary policy review. RBI today also announced 25 bps rate cut, 3rd in a row and slashed repo rate to 5.75%, l...Read More

RBI cuts Repo rates by 25 bps to 6 pc

April 04, 2019
RBI cuts Repo rates by 25 bps to 6 pc

Mumbai:The Reserve Bank of India on Thursday cut the repo rate by 25 basis points to 6 per cent. Consequently, the reverse repo rate under the Liquidity Adjustment Facility (LAF) stands adjusted to 5.75 per cent, and the Marginal Standing Facility (MSF) rate and the Bank Rate to 6.25 per cent. Announcing the first bimonthly policy, Governor Shaktikanta Das said that RBI has maintained the policy stance neutral and lowered the retail inflation and GDP forecasts. The MPC also decided to m...Read More

The Compulsive Contrarian and his Manufactured Logic; FM Arun Jaitley’s latest note in full text

January 17, 2019
The Compulsive Contrarian and his Manufactured Logic; FM Arun Jaitley’s latest note in full text

Finance Minister and senior BJP leader Arun Jaitley has in his latest note covered various issued including CBI vs CBI, Rafale Deal, Justice Loya case, RBI debate and more. Presented is his post titled as 'The Compulsive Contrarian and his Manufactured Logic' in full text: The Compulsive Contrarian and his Manufactured Logic In the run-up to the 2014 General Elections there were many who never expected Prime Minister Narendra Modi to come to power with an absolute majority. There are so...Read More

Shaktikant Das appointed new RBI Governor for three years

December 11, 2018
Shaktikant Das appointed new RBI Governor for three years

New Delhi: Former finance secretary and current member of the finance commission Shaktikanta Das has been appointed as the Governor of the Reserve Bank of India (RBI) for three-year term following the resignation by outgoing RBI Governor Urjit Patel. Shaktikanta is publicly known as a man who would do regular briefing on demonetization during November/December 2016. DeshGujarat Read More

RBI Governor Urjit Patel resigns from his post

December 10, 2018
RBI Governor Urjit Patel resigns from his post

Mumbai: Urjit Patel, Governor of Reserve Bank of India(RBI) today resigned from the position citing personal reasons. Reacting to this, Prime Minister Narendra Modi in his series of tweets said: Dr Urjit Patel is an economist of a very high calibre with a deep and insightful understanding of macro-economic issues. He steered the banking system from chaos to order and ensured discipline. Under his leadership, the RBI brought financial stability.Dr. Urjit Patel is a thorough professional with i...Read More

99.3% of demonetised currency returned to banks: RBI annual report

August 29, 2018
99.3% of demonetised currency returned to banks: RBI annual report

New Delhi: As many as 99.3 per cent of the old 500 and 1,000 rupee notes, that were banned overnight in November 2016, have been returned, the Reserve Bank of India said in its annual report. Of the Rs 15.41 lakh crore worth 500 and 1,000 rupee notes in circulation before November 8, 2016, notes worth Rs 15.31 lakh crore have been returned. The "humungous task of processing and verification of specified bank notes (SBNs) was successfully achieved," it said. The SBNs received were veri...Read More

It’s official, new currency note of Rs 100 to have motif of Ranki Vav of Patan

July 19, 2018
It’s official, new currency note of Rs 100 to have motif of Ranki Vav of Patan

Mumbai: The Reserve Bank of India today in a statement said it will shortly issue ₹ 100 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has Motif of “RANI KI VAV” on the reverse, depicting the country’s cultural heritage. Rani Ki Vav or Ranki Vav which is also known as Queen's stepwell is located in Patan town of North Gujarat. It is a world heritage monument declared by UNESCO. I...Read More

Ranki Vav of Patan to be on new Rs 100 currency notes: report

July 17, 2018
Ranki Vav of Patan to be on new Rs 100 currency notes: report

Mumbai: The Reserve Bank of India (RBI) is set to release a new Rs 100 note in violet colour by next month. The new note will house the impression of Gujarat's Rani Ki Vav (stepwell), said a Dainik Bhaskar report, adding that the size of this currency will be smaller than the present one. However, it will be slightly bigger than new Rs 10 note. Ranki Vav or Rani Ki Vav which is also known as Queen's stepwell is seven storey deep stepwell with hundreds of sculptures. It was built by medieval e...Read More

Demand draft to bear name of purchaser from September 15: RBI notification

July 13, 2018
Demand draft to bear name of purchaser from September 15: RBI notification

New Delhi: The Reserve Bank of India has directed banks to incorporate the name of purchaser in demand draft with effect from September 15 in a bid to prevent possible misuse for money laundering. From September onwards, issuing banks have been asked to incorporate the name of the purchaser on the face of the demand draft, pay order, and banker's cheques. These instructions shall take effect for such instruments issued on or after September 15, 2018. Read More

We have been assured of resolution of cash-crisis shortly: CM Rupani

April 18, 2018
We have been assured of resolution of cash-crisis shortly: CM Rupani

Gandhinagar: Chief Minister Vijay Rupani today said that the center has assured of resolving the cash-crisis in Gujarat shortly. Talking to newsmen here Rupani said that for the past 2 to 4 days cash-crisis has arisen in the state and the state government has drawn RBI's attention towards it. 'The Chief Secretary has talked to the union Finance secretary in this regard and we from our level have also talked above for quick resolution of the issue so that public do no...Read More