Tag: RBI

RBI Governor Says “Closely” Watching High Attrition At Some Private Banks

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RBI Governor Says “Closely” Watching High Attrition At Some Private Banks

RBI Governor said that geopolitical uncertainty is the biggest risk to global growth. Mumbai: RBI Governor Shaktikanta Das on Tuesday said attrition is seen to be high at some private sector banks and that the central bank is watching the issue “closely”. Speaking at the annual BFSI Insight Summit organised by Business Standard, Mr Das…

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Nation

Banks To Allow Premature Withdrawal On Term Deposits Of Up To 1 Crore: RBI

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Banks To Allow Premature Withdrawal On Term Deposits Of Up To 1 Crore: RBI

The instructions have come into force with immediate effect, the RBI said in a circular. (File) Mumbai: The Reserve Bank on Thursday said banks will have to offer premature withdrawal facility on all term deposits of up to Rs 1 crore, raising the limit from Rs 15 lakh currently. Banks have been permitted to offer…

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Recovery Agents May Be Barred From Calling Borrowers Between 7 pm And 8 am

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Recovery Agents May Be Barred From Calling Borrowers Between 7 pm And 8 am

The draft guidelines state such agents must be trained to handle their responsibilities with sensitivity. Mumbai: The Reserve Bank of India on Thursday proposed stricter norms for recovery of overdue loans under which financial institutions and their recovery agents cannot call borrowers before 8 in the morning and after 7 in the evening. Regulated Entities…

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Little more optimistic about India’s economic growth than few months ago, says RBI MPC member Jayanth R. Varma

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Little more optimistic about India’s economic growth than few months ago, says RBI MPC member Jayanth R. Varma

Jayanth R. Varma said while external demand is weak due to the sluggishness in the world economy, the revival in private capital expenditure is still too tentative and muted. RBI MPC member Jayanth R. Varma on October 24 said that he is ‘little more’ optimistic about India’s economic growth than a few months ago, though…

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Business

Reserve Bank of India opens sub-office in Arunachal Pradesh’s Itanagar

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Reserve Bank of India opens sub-office in Arunachal Pradesh’s Itanagar

Michael Debabrata Patra, RBI deputy governor, inaugurated the sub-office of the Reserve Bank of India, in Itanagar, Arunachal Pradesh, on October 20. File | Photo Credit: The Hindu Reserve Bank of India (RBI) has announced the opening of its sub-office in Itanagar, Arunachal Pradesh in the northeast of India. Dr. Michael Debabrata Patra, deputy governor, RBI,…

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Business

RBI imposes penalty on ICICI Bank, Kotak Mahindra Bank for violation of norms

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RBI imposes penalty on ICICI Bank, Kotak Mahindra Bank for violation of norms

In both cases, the RBI said the penalties are based on the deficiencies in regulatory compliance. File. | Photo Credit: EMMANUAL YOGINI The Reserve Bank on October 17 said it has imposed a penalty or ₹12.19 crore on ICICI Bank and ₹3.95 crore on Kotak Mahindra Bank for non-compliance of certain regulatory norms. The penalty…

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Business

Retail inflation likely eased in September, but may be higher than RBI hopes

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Retail inflation likely eased in September, but may be higher than RBI hopes

Food inflation stood at around 10% in August. | Photo Credit: SUSHIL KUMAR VERMA India’s retail inflation is likely to have retreated below 6% in September after two months over the central bank’s tolerance threshold, thanks to cooling prices for most essential commodities and food items, barring pulses that are seeing a sustained uptick in…

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Business

RBI to harmonise Internal Ombudsman framework to strengthen customer grievance mechanism: Shaktikanta Das

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RBI to harmonise Internal Ombudsman framework to strengthen customer grievance mechanism: Shaktikanta Das

RBI governor Shaktikanta Das. File | Photo Credit: ANI With a view to strengthen customer grievance redressal system, RBI governor Shaktikanta Das on October 6 said the Central bank decided to effect certain changes and also consolidate and harmonise the Internal Ombudsman guidelines into a single master direction. “This will further strengthen the customer grievance…

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Business