Banks to Remain Shut on Wednesday For Ram Navami; Check List of Holidays In April

Banks in most parts of the country will remain shut on the occasion of Ram Navami on Wednesday, April 21. Rama Navami is considered as an important festival for people following the Hindu religion. The day is celebrated on the ninth day in the month of Chaitra, which is the first month in the Hindu … Read more Banks to Remain Shut on Wednesday For Ram Navami; Check List of Holidays In April

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

RTGS Services Won’t Be Available For 14 Hours on Sunday; All You Need to Know

The Reserve Bank of India (RBI) on Monday announced that the money transfer facility, Real Time Gross Settlement System (RTGS), will be unavailable for 14 hours from 00:00 to 14:00 hours on Sunday, April 18, in lieu of a technical upgrade to enhance the resilience of the system. The country’s central bank and regulatory body … Read more RTGS Services Won’t Be Available For 14 Hours on Sunday; All You Need to Know

Cricket Corruption: Bitcoin transaction is new phenomenon, says ICC Integrity head Marshall

Former Zimbabwe captain Heath Streak‘s shocking admission of cricket corruption has also shone a light on cryptocurrency finding a place in the bookies’ list of enticements — a brand new challenge for the ICC’s Anti-Corruption Unit, which claims to be ready for the battle. Streak was on Wednesday banned by the ICC for eight years … Read more Cricket Corruption: Bitcoin transaction is new phenomenon, says ICC Integrity head Marshall

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

Banks slowly warming up to NBFC lending

Bank credit to non banking finance companies (NBFCs) has picked up for the first time this fiscal in February indicating a postive impact of Reserve Bank of India‘s (RBI) liquidity measures and ease in risk aversion by banks. Growth in bank credit to NBFCs has been continously falling this fiscal after peaking in April 2020 … Read more Banks slowly warming up to NBFC lending

With RBI keeping interest rates on hold, quantitative easing to unfold: Fitch – Times of India

SINGAPORE: Fitch Solutions has revised its forecast for the Reserve Bank of India (RBI) to keep its policy repurchase (repo) rate on hold at 4 per cent over the course of FY22 (April 2021 to March 2022) from its prior view for a 25 basis points cut to 3.75 per cent. This comes on the … Read more With RBI keeping interest rates on hold, quantitative easing to unfold: Fitch – Times of India

Centre may redraw bank recapitalisation plan in wake of new challenges

The government may redraw the recapitalisation roadmap for public sector banks (PSB) in the current fiscal as the institutions face additional burden to meet the interest on interest obligation for all its borrowers while changes in valuation norms AT1 bonds by Sebi will make the instrument less attractive for banks to raise their capital. Sources … Read more Centre may redraw bank recapitalisation plan in wake of new challenges