The Reserve Bank of India’s framework for loan recast or stress resolution for the Covid-19 related stress which allows banks to restructure loans of real estate companies at the project level comes as a major relief for developers who have been hit amid the pandemic and their specific projects have...
RBI to conduct OMOs in SDLs worth Rs 10,000 cr
The Reserve Bank of India (RBI) on Friday announced the purchase of state development loans worth Rs 10,000 crore under open market operations. The auction will be conducted on October 22. The RBI, in a statement, said that it has been decided to conduct a purchase auction of SDLs under...
Rate cut transmission improved since April: RBI Report
New Delhi: The Monetary Policy Report for October 2020 noted that the decline in both the lending and deposit rates is more pronounced for foreign banks. "The transmission of policy repo rate changes to deposit and lending rates of banks improved since the April 2020 MPR (Monetary Policy Report). The...
Digital payments soar manifold in 5 years to FY20: RBI
New Delhi: Between 2015-16 and 2019-20, digital payments have grown at a compounded annual growth rate of 55.1 per cent - from 593.61 crore in the year to March 2016 to 3,434.56 crore in the year to March 2020. In absolute terms, value has grown from Rs 920.38 lakh crore...
Ten important things of RBI announcement
New Delhi: The Reserve Bank's 6-member committee today announced the repo rate. For the second time in a row, there has been no change in interest rates. The Monetary Policy Committee has maintained the repo rate at 4 percent. With this announcement, the EMI of your loan will not be...
Repo rate remains at 4%, RBI interest rates unchanged
New Delhi: The Reserve Bank's Monetary Policy Committee has not changed the interest rates. The 6-member Monetary Policy Committee headed by Reserve Bank of India Governor Shaktikanta Das has decided not to change the interest rates. Repo rate remains at 4%. The MPC has unanimously decided this. The reverse repo...
RBI MPC meet starts Oct 7 after Centre appoints 3 new members
New Delhi: The Reserve Bank of India on Tuesday said the monetary Policy Committee (MPC) of the rate-setting panel will be held for three days beginning October 7. The announcement by the Central bank comes after the government filled the vacancies of three external members in the committee. “The next...
RBI extends enhanced borrowing limit for banks under MSF till Mar 31
New Delhi: The RBI, as a temporary measure, had increased the borrowing limit for scheduled banks under the marginal standing facility (MSF) scheme from 2 per cent to 3 per cent of their Net Demand and Time Liabilities (NDTL) with effect from March 27, 2020. The facility, which was initially...
RBI postponed MPC meeting
Mumbai: The Reserve Bank of India (RBI) on Monday said that it has decided to postpone the meeting of the Monetary Policy Committee (MPC) to be held this week and new dates will be announced soon. The central bank, however, did not give any reason for postponing the meeting. RBI's...
RBI rejects all bids at first open market bond buy this year
Mumbai: The RBI had planned to buy up to 100 billion rupees ($1.35 billion) worth of six-year to 11-year papers at an open market operation. But despite receiving bids worth 664.73 billion rupees in total, it did not accept any of them. “The RBI seems unhappy with the bids offered....