Tag Archives: RBI
Currency Shortage In UP Banks, ATMs Trouble People
Lucknow: People in Uttar Pradesh and in neighboring Uttarakhand are facing a shortage of cash in banks and ATMs, six months after the old currency notes of Rs 1,000 and 500 were demonetized in the country. According to officials, they are managing with only 70 per cent of currency supply. Bar..
RBI To Issue New Rs 5 And Rs 10 Coins
The Reserve Bank of India (RBI) on Wednesday said that it will soon issue new Rs 10 and Rs 5 coins in circulation. According to the RBI, the central government has minted new Rs 5 coins to commemorate the "150th Anniversary of Allahabad High Court" and Rs 10 coins on the occasion of "One Hundred ..
Deposits Under PMGKDS Can Be Made Till April-End
The central government and the RBI on Wednesday allowed time till April 30 for "commensurate deposits" by citizens who have declared their unaccounted income under the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS) that offered non-interest bearing deposits for four years. The scheme had bla..
‘Invocation Of RBI’s Corrective Plan Would Curb Many Activities Of Banks’
The invocation of the new Prompt Corrective Action (PCA) framework announced by the Reserve Bank of India (RBI) recently would put a curb on many activities of government-owned banks, said investment banking firm Jefferies. In a report issued on Tuesday, Jefferies said the invocation of PCA thres..
Currency Returned To RBI Post-Note Ban Being Calculated
The Reserve Bank of India (RBI) is still calculating and taking stock of the currency that was returned to banks post demonetisation, Finance Minister Arun Jaitley said on Tuesday. In response to a question by Samajwadi Party leader Naresh Agarwal in the Rajya Sabha, Jaitley said that the RBI was..
RBI Raises ARCs’ Capital Requirement To Rs 100 cr
The Reserve Bank of India (RBI) has raised the capital requirement for asset reconstruction companies (ARCs) to Rs 100 crore, from the current Rs 2 crore, it has announced. This move was necessitated by the higher amount of cash required to buy bad loans from the current fiscal, RBI said in note ..
RBI Maintains Key Lending Rate, Frowns Upon Loan Waiver
With inflationary concerns in mind, the Reserve Bank of India (RBI) on Thursday retained its key lending rate unchanged at 6.25 per cent, a move termed on expected lines by industry. The central bank also criticised loan waiver promises as a "moral hazard" that entails transfer of taxpayers' money. ..
RBI Imposes Severe Restrictions On Kapol Cooperative Bank
The Reserve Bank of India on Friday imposed stringent restrictions on the Kapol Cooperative Bank Ltd. (KCBL) and barred depositors from withdrawing over Rs 3,000 from any type of accounts, according to a notification. The RBI has also restricted the financially troubled bank from granting or rene..
Scramble To Exchange Demonetised Currency Notes As March Is About To End
The queues at the designated RBI offices seem to be spilling over as the deadline for exchange of invalid notes by residents who were abroad during the cash ban window draws to a close on Friday. The anxiety is palpable as people are leaving nothing to chance and lining up at the RBI office in th..
12 Lakh New Notes Infused In Market Since Remonetisation: FM Arun Jaitley
Around 12 lakh new currency notes have been infused into the market by the Reserve Bank of India ever since the remonetisation process has started, Finance Minister Arun Jaitley said today. The RBI has informed that till February 24, a total of 11,64,100 new currency notes are in circulation in t..