RBI sets up committee to review working of ARCs

The RBI on Monday set up a committee to undertake a comprehensive review of the working of asset reconstruction companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling them to meet the growing requirements. The six-member committee will be headed by Sudarshan Sen, former executive director, Reserve Bank of India (RBI). … Read more RBI sets up committee to review working of ARCs

You may actually be ‘dissaving’ by putting money in savings instruments

You may not have noticed it but the actual interest rate that you are getting on your bank deposits and investments in small savings schemes has fallen into the negative territory. This means that the return on investments is not yielding any positive value but only covering for higher inflation and savings may actually be … Read more You may actually be ‘dissaving’ by putting money in savings instruments

RBI cancels Rs 14k crore worth G-sec auction – Times of India

MUMBAI: The RBI on Friday called off government securities (G-secs) auction worth Rs 14,000 crore for the benchmark 10-year bonds as traders demanded higher yield. However, the central bank was not willing to pay a higher price. According to RBI data, Rs 5,100-crore government bonds maturing in 2022 were sold on Monday, compared to its … Read more RBI cancels Rs 14k crore worth G-sec auction – Times of India

Bank credit records slowest growth rate

Bank credit has grown at its slowest pace ever recorded indicating weak demand for loans especially from companies and also a gradual shift by the higher rated companies to the bond market. Credit growth slowed further to 5.6% in the fiscal ended March 2021 compared to 6.1% reported in fiscal 2020, RBI data shows. This … Read more Bank credit records slowest growth rate

RBI sets up RRA to streamline regulations and reduce compliance

The Reserve Bank on Thursday set up the second Regulatory Review Authority (RRA 2.0) with a view to streamlining regulations and reducing compliance burden of regulated entities. Reserve Bank of India Deputy Governor M Rajeshwar Rao has been appointed as the Regulations Review Authority, the central bank said in a statement. The RBI had set … Read more RBI sets up RRA to streamline regulations and reduce compliance

Bank Credit Rise 5.56%; Deposits 11.4% in FY21: RBI Data

Bank credit grew 5.56 per cent to Rs 109.51 lakh crore, while deposits rose 11.4 per cent to Rs 151.13 lakh crore in the financial year ended March 31, 2021, data released by the Reserve Bank of India (RBI) showed. In the 2019-20 fiscal, advances had grown at 6.1 per cent and deposits at 7.9 … Read more Bank Credit Rise 5.56%; Deposits 11.4% in FY21: RBI Data

Bank credit rise 5.56%; deposits 11.4% in FY21

Bank credit grew 5.56 per cent to Rs 109.51 lakh crore, while deposits rose 11.4 per cent to Rs 151.13 lakh crore in the financial year ended March 31, 2021, data released by the Reserve Bank of India (RBI) showed. In the 2019-20 fiscal, advances had grown at 6.1 per cent and deposits at 7.9 … Read more Bank credit rise 5.56%; deposits 11.4% in FY21

Alert! RTGS won’t be operational on April 18: Here’s what RBI said about NEFT

The Reserve Bank of India (RBI) has informed that customers won’t be able to operate RTGS on the third Sunday of April but the NEFT system will be accessible on April 18. In a press note, the central bank said about “non-availability of service – 00.00 Hrs to 14.00 Hrs on Sunday, April 18, 2021.” … Read more Alert! RTGS won’t be operational on April 18: Here’s what RBI said about NEFT

Payments banks can now hold max balance of Rs 2 lakh/customer – Times of India

MUMBAI: The RBI has doubled the limit of maximum balance that an individual customer can hold with payments banks to Rs 2 lakh from Rs 1 lakh earlier with immediate effect to expand the ability of such lenders to cater to the needs of MSMEs and other businesses. The announcement in this regard was made … Read more Payments banks can now hold max balance of Rs 2 lakh/customer – Times of India

RBI’s first purchase under G-SAP 1.0 set for April 15

A day after announcing the introduction of the G-sec Acquisition Programme (G-SAP 1.0), the Reserve Bank of India (RBI) on Thursday announced the Open Market Purchase of Government of India Securities under the programme . “The Reserve Bank will conduct open market purchase of government securities of ₹1 lakh crore under the G-sec Acquisition Programme … Read more RBI’s first purchase under G-SAP 1.0 set for April 15