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Ganesh Chaturthi 2023: Banks will remain closed for two days- September 18 and 19. Banks will remain closed for two days — September 18 and 19 — in some parts of the country for Ganesh Chaturthi. This year, the 10-day-long Ganesh Utsav will be observed from September 19 to September 28. Ahead of the festival,…
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Regulated Entities would compensate borrower at the rate of Rs 5,000 for each day of delay Mumbai: The Reserve Bank on Wednesday directed banks and financial institutions to release all original movable or immovable property documents and remove charges registered with any registry within 30 days after full repayment of a loan by the borrower….
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As per the latest RBI’s directive, the borrower will be given the option of collecting the original movable / immovable property documents either from the branch where the loan account was serviced or from any other office of the RE where the documents are available. The Reserve Bank of India (RBI) has issued directions to…
As per the latest RBI’s directive, the borrower will be given the option of collecting the original movable / immovable property documents either from the branch where the loan account was serviced or from any other office of the RE where the documents are available. The Reserve Bank of India (RBI) has issued directions to…
T.V. Somanathan, Finance Secretary. File. | Photo Credit: KAMAL NARANG The government is expected to constitute the 16th Finance Commission by end of November, Finance Secretary T V Somanathan said. Finance Commission is a constitutional body that gives suggestions on Centre-State financial relations. It suggests, among other things, the ratio in which tax is to…
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Representational image. File | Photo Credit: Reuters Reserve Bank of India (RBI) has issued fresh guidelines to the Regulated Entities (REs) such as commercial and other banks, Non-Banking Finance Companies (NBFCs) and other lenders to ensure reasonableness and transparency in disclosure of penal interest. This follows findings that many REs are using penal rates of…
The 30-share BSE Sensex fell 235.99 points to 65,759.82. The NSE Nifty declined 64.2 points to 19,568.35. | Photo Credit: AP Benchmark equity indices declined in early trade on Thursday ahead of RBI’s monetary policy decision amid a weak trend in global markets. Investors also remained on the sidelines ahead of the U.S. inflation data…
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The Monetary Policy Committee has unanimously decided to keep the policy repo rate unchanged, RBI Governor Shaktikanta Das said in Mumbai on August 10, 2023. | Photo Credit: Emmanual Yogini The Monetary Policy Committee (MPC) of the Reserve Bank of India on August 10 decided unanimously to keep the policy repo rate unchanged at 6.50%. Consequently,…
A vendor weighs tomatoes for a customer at a vegetable market in Ahmedabad on July 25, 2023. | Photo Credit: Reuters India’s retail inflation may have spiked close to or over the 6% upper tolerance threshold of the Reserve Bank of India (RBI) in July, owing to a broad-based uptick in food prices, and could…
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Image used for representative purpose only. | Photo Credit: REUTERS A currency note with a star (*) symbol is identical to any other legal banknote, the Reserve Bank said on Thursday allaying concerns on the validity of such notes. The symbol is inserted in the number panel of a banknote that is used as replacement…
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