Bank deposits growth fell to a five-decade low in fiscal year ended March 2018 as the demonetisation bonanza withered away and the lure of other savings instruments such as mutual funds and insurance eroded banking competitiveness.
The Finance Bill 2018 was passed by Parliament in the Budget session and following the assent from the President, the Finance Ministry has started the process of stake transfer, sources added.
Increase in HRA by the Centre from July 2017, pushed up housing inflation significantly with concomitant impact on headline inflation according to an RBI staff paper.
The Reserve Bank of India (RBI) has made linking of national biometric ID Aadhaar to bank accounts mandatory as part of its updated 'Know Your Customer (KYC)' guidelines.
Currency with public is currently at Rs 17.5 lakh crore while Rs 1.2 lakh crore is estimated to be the current value of digital transactions, resulting in a gap in circulation.
In a major headache for Public Sector Banks (PSBs) in the country, the recovery rate of non performing assets (NPA), which were written off, has been declining.
The finance ministry is in discussion with the Reserve Bank of India (RBI) for relaxation of norms regarding stressed asset resolution that was announced in February.
Proper implementation of the Goods and Services Tax (GST) in India can be worked upon and is not an “unfixable problem”, former RBI governor Raghuram Rajan has said.
The Union government has informed the Parliament that the regulations framed by the Reserve Bank of India (RBI) apply equally to both public and private sector banks.
The Reserve Bank of India (RBI) has temporarily relaxed provisioning norms for lenders to defaulters undergoing bankruptcy resolution in a move that could help banks bolster their financial results for the year and quarter ended March.
Illustrating the point further, Subramanian pointed out that when if a central bank (RBI) is independent and marks a series of bad decisions, its credibility is lost.
Former RBI governor C Rangarajan, at a recent event, said the RBI has supervisory powers but it consults finance ministry before taking any action... because government is the owner of the PSU bank.
Reserve Bank of India (RBI) governor Urjit Patel rejected accusations that the regulator’s laxity was to blame for the Rs 13,000-crore fraud at state-owned Punjab National Bank.
The Reserve Bank of India (RBI) has slapped a penalty of Rs 40 lakh on SBI for not complying with its directions on detection and impounding of counterfeit notes.
The pension of RBI retirees has not been revised for the past 16 years, reportedly due to interference and instructions from the Finance Ministry.
Mobile payments services like Paytm, Mobikwik, Google Tez, Ola Money and Amazon Pay are some of the most popular PPIs that are required to receive you KYC details.
Bank Unions Have Gone on the Offensive Against the Rising Chorus for Privatisation of Public Sector…
Bank unions have gone on the offensive against the rising chorus for privatisation of public sector lenders (PSB) in the wake of the PNB scam.
For close to seven months, the RBI does not have a full-time deputy governor (DG) handling the supervision of banks, both state-run and private.
The Reserve Bank of India (RBI) late on Monday tightened its rules around bank loan defaults, seeking to push more large loan defaulters toward bankruptcy courts.
Finance Minister Arun Jaitley will address the boards of the Reserve Bank of India (RBI) and markets regulator Sebi tomorrow.