RBI’s Acharya suggests shift in monetary policy stance, show minutes

RBI’s Acharya suggests shift in monetary policy stance, show minutes One member of the Reserve Bank of India’s (RBI’s) rate-setting panel suggested starting the process of shifting the monetary policy stance from neutral to “withdrawal of accommodation”, increasing the odds of a rate hike this year. Noting the upside risks to inflation, Viral Acharya, RBI […]

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RBI firm on new NPA rules, says cos should not take loan contract casually

RBI firm on new NPA rules, says cos should not take loan contract casually The deputy governor said even some highly rated borrowers had failed on the one-day default norm Reserve Bank of India (RBI) deputy governor N S Vishwanathan strongly defended its new rules on debt resolution, including the one-day default norm, stating that […]

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RBI scotches speculation on easing default norms

RBI scotches speculation on easing default norms Mint Street has virtually scotched speculation regarding the easing of norms on default classification, saying that the new rules seek to change the credit culture in a country where even big companies that can repay on time tend to game the system to earn additional income. Complaints that […]

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RBI tightens monitoring of Liberalised Remittance Scheme for overseas money transferring

RBI tightens monitoring of Liberalised Remittance Scheme for overseas money transferring The Reserve Bank today tightened reporting norms for the Liberalised Remittance Scheme (LRS) under which an individual can transfer up to USD 2,50,000 abroad in a year. The LRS transactions are currently permitted by banks based on the declaration made by the remitter.The monitoring […]

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Centre, RBI step in as cash crunch hobbles ATMs across various states

Centre, RBI step in as cash crunch hobbles ATMs across various states Several states are facing cash shortage despite currency flow in the economy going back to the pre-demonetisation level The finance ministry held a meeting with the Reserve Bank of India (RBI), banks, and state government officials on Thursday to take stock of cash […]

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RBI increases bond investment limit for foreign portfolio investors

RBI increases bond investment limit for foreign portfolio investors Net increase in government bonds will be Rs 592 billion in two years The Reserve Bank of India (RBI) on Friday increased the bond investment limit for foreign portfolio investors (FPI) by a percentage point in two phases — a move that will allow foreigners about […]

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Don’t deal with entities related to Bitcoins, RBI tells banks and NBFCs

Don’t deal with entities related to Bitcoins, RBI tells banks and NBFCs The RBI has repeatedly cautioned users, holders and traders of virtual currencies, including bitcoins The Reserve Bank of India (RBI) on Friday asked banks, non-banking financial companies (NBFCs) and payment service providers to disassociate themselves from entities dealing with virtual currencies, including bitcoins, […]

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