Posts in tag

RBI


Lenders haven’t fully passed on the central bank’s latest interest rate cut to borrowers, pressuring the monetary authority to loosen policy even more to support economic growth. A mismatch between deposits and credit growth and competition from the government for small-savings mean banks face a high cost of capital, limiting their ability to transmit monetary …

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

The norms introduced by the RBI for compensation of chief executives and board members of private sector banks have been viewed as an effort to improve transparency and accountability of the banking system. Variable pay In a discussion paper, RBI had stated that 50% of the compensation should be variable and that employee stock options …

The RBI decides independently on the quantum of interim dividend to be paid to the Centre and a central bank committee is presently examining the issue, the government said on Monday. Queried on the matter following the customary post-Budget Reserve Bank of India (RBI) board meeting here chaired by him, Finance Minister Arun Jaitley said …

Rejecting the central government’s role in the resignation of Reserve Bank of India Governor Urjit Patel, Finance Minister Arun Jaitley said Tuesday that the government did not ask him to step down from his post.  “The government never called for his resignation,” Jaitley said at an event, according to a PTI report. The finance minister …

Reserve Bank of India Governor Urjit Patel stepped back on Monday. His resignation will take effect consequently, Mr. Patel said in a statement. He took charge as chief of the central bank in September 2016, replacing Raghuram Rajan, who stepped down to return to academia after a single three-year term. Mr. Patel’s stepped down from …

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 …