Tag Archives: RBI
RBI delivers, can lame bow govternment?
Friday is a surprising day for bankers and financial institutions as the Reserve Bank of India (RBI) tighten the markets by reducing the cash reserve ratio (CRR) by a huge basis point of 75 to 4.75% from 5.5%. CRR is defined as that portion of deposits which banks have to compulsorily keep with the bank [...]
Dhanlaxmi Bank MD Amitabh Chaturvedi quits his post
The MD of the Thrissur, Kerala-based Dhanlaxmi Bank, Amitabh Chaturvedi has decided to quit from his post. Along with him, other five member of bank may have seemed to resign whose name are Bipin Kabra, chief financial officer, Rajeev Deoras, head of credit, Manish Kumar, chief people officer, and Salil Datar, head of consumer banking. [...]
Indian Cash Rates Company; fall in liquidity in next week
The step of cutting down the Cash Reserve Ratio by RBI has appreciated by the PM’s Economic Advisory Council Chairman C Rangarajan. The rate is decide to be reduce by 5.5% from 6 and as per this the banks has made deposits Rs 32000 crores into the banking system. The cut down liquidity will surly [...]
NRIs can vote now, says Prime Minister Manmohan Singh
Today while addressing the 10th annual diaspora meet called the Pravasi Bharatiya Divas (PBD), Prime Minister Manmohan Singh promises to fulfill the long-standing demand of its diaspora to allow Non-resident Indians (NRIs) to vote and participate in the election process. The Prime Minister Manmohan Singh stated in the meet, “Pursuant to the law that was [...]
RBI allows NRIs to enclose currency risk with banks
Today, some special terms has to be established by The Reserve Bank on the basis of which avail of ECBs (external commercial borrowings) designated in rupee is to be allowed. According to a report stated by RBI, the NGOs have been permitted non-residents to hedge currency risk for external commercial borrowings (ECBs) denominated in rupees [...]
Banks increases interest rates sharply to attract NRE deposits
Now having economic slope down, the new strategy is being used to hike the price of value by The Reserve Bank of India is to deregulate interest rates on non-resident external (NRE) rupee deposits and ordinary non-resident accounts. And there are many banks that have increased the interest rates on fixed deposits held by non-resident [...]
Yes Bank increases savings rate to 7%
As per the latest news, the interest rate for home savings accounts, with balances over Rs 1 lakh, has been increased by 100 basis points, to 7% from 6%. Yes Bank, a leading private sector bank in the country, has recently announced to increase its savings deposit rates by 100 basis points to 7 per [...]
Rupee drops 36 paise against UD dollar
As per the latest business news, the Indian currency further drops 36 paise against the UD dollar and reached the mark of Rs 53.06 per US dollar in early trade Monday. Further, the fall is considered after the quick gains recorded by the American currency against other peers overseas among the fewer opening in the [...]
Petrol price hike on hold till New Year
As per the recent reports, the state-operated oil marketing firms has announced that they will not increase the petrol price after the political parties nudged them to wait for 15 more days to see the results of RBI’s steps to stem rupee fall. Meanwhile, oil firms review oil prices on the 15th and 30th of [...]
