Posts in tag

RBI


Urjit Patel Briefs Parliamentary Panel On Notes Ban, Reforms In RBI

RBI Governor Urjit Patel Tuesday appeared before a parliamentary panel to talk on demonetization and NPA situation in the public sector banks, among other issues, sources said. Patel was before scheduled to appear before the panel on November 12. The source said matter related to November 2016 demonetization of old Rs. 500/1000 notes, reforms in …

Robust Credit Growth In Economy, Fundamentals Strong

Citing strong fundamentals, Reserve Bank of India (RBI) Governor Urjit Patel said a group of lawmakers on Tuesday that the impact of demonetization was “transient” and the economy had registered a robust credit growth of 15 percent this fiscal. The RBI chief, seen to be at odds with the government over a range of issues …

How does rbi repo rate affect home loan rate

The Monetary Policy Committee of the RBI increased the policy rate by 25 basis points on Wednesday and the repo rate currently stands at 6.50 percent. This increase in repo rate will grow the cost of funds and therefore lead to a rise in the MCLR (marginal cost of funds based lending rate), which banks …

RBI Meeting

By all accounts, today’s meeting of the central board of Reserve Bank of India (RBI) will be a charged and critical affair. The media is agog, markets are on edge, the government is apprehensive, and the nation wants to know! To lighten the national mood, an anecdote from the past may assist. The governor was …

urjit patel

RBI governor Urjit Patel is scheduled to come before a parliamentary panel on November 27 to brief it on various issues, comprising the stand-off with the government, status of the economy and demonetization, sources said. The 31-member Parliamentary Standing Committee on Finance, which comprise former Prime Minister Manmohan Singh, is headed by senior Congress leader Veerappa Moily. When asked, Moily …

Andhra finance minister

In a remark that could trigger a political row, Andhra Finance Minister Yanamala Ramakrishnudu on Saturday same as Prime Minister Narendra Modi to an ‘Anaconda’ who has been swallowing the national institutions. “Modi has been swallowing institutions like CBI, RBI, and others. How could he be a savior,” said Ramakrishnudu? He also said out at the opposition …

urjit patel

Early life and education Urjit Patel was born in Nairobi on 28 October 1963 to Manjula and Ravindra Patel. His grandfather had moved from Mahudha village in Kheda district, Gujarat to Kenya in the 20th century. His parents run Raxo Products Ltd, a chemical factory situated in Nairobi. He studied at Gujarati community run Visa …

IMF say monitoring the situation in India; bats for RBI's independence

The IMF has stated it was monitoring the reported rift between the RBI and the Centre in India and expressed its opposition to any move that compromises the independence of central banks anywhere in the globe. There were reports of creating tension between the Ministry of Finance and the Reserve Bank of India (RBI) over …

It costs the RBI more to print a ₹20 note than a ₹50 note

Rupees 20 may be lower in denomination than ₹50, but the cost of production of ₹20 note is greater than ₹50. According to information gathered by BusinessLine under Right to Information Act (RTI), the Reserve Bank of India stated the selling price of currency notes varies between ₹0.70 and ₹4.18 for several denominations. The selling …

The government established turn up the heat on RBI governor Urjit Patel

The government intends to keep pressing demands for the country’s central bank to relax lending curbs and hand over high reserves even if it risks provoking a resignation by the bank’s governor, three sources similar with the government’s thinking told Reuters. While there appeared to be a partial truce last week when the government said …

Reserve Bank of India plans payments authority

The Reserve Bank of India is likely to set up an ombudsman for digital payments by March to take the load off the increasing number of complaints presently being handled by the banking ombudsman, said two senior bankers with knowledge of the matter. Given the rapid adoption of digital payments in the whole of the …

After locking horns with the Centre, RBI seeking for middle ground on many issues

After the stand-off between the government and the RBI came out in the open, the Reserve Bank’s central board members are believed to be creating efforts to find a middle ground on a host of issues – including those related to tapping the central bank’s reserves, relaxing the prompt corrective action (PCA) framework imposed on …