Reserve Bank of India has decided to maintain the status quo on key policy rates
In today’s (4.06.2021) second bimonthly MPC meeting, the Reserve Bank of India decided to maintain the policy repo rate under the liquidity adjustment facility (LAF) on hold at 4.0 per cent. The Monetary Policy Committee of the Reserve Bank of India has decided to maintain status quo on key policy rates. Based on its assessment,…
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RBI clears air on crypto-currency trading to ask banks to carry out customer due diligence
The Reserve Bank of India (RBI) on Monday clarified that its circular dated April 6, 2018 on Crypto currency transactions is no longer valid from the date of the Supreme Court judgement, in March 2020 and therefore cannot be cited or quoted from. RBI in its notification said, “It has come to our attention through…
Read article RBI Governor Statement: The situation has reversed from being on foothills of strong economic recovery to facing a fresh crisis
Reserve Bank of India (RBI) Governor Shaktikanta Das today made an unscheduled speech as the second wave of coronavirus continues to devastate the country. “As the financial year 2020-21 – the year of the pandemic – was drawing to a close, the Indian economy was advantageously poised, relative to peers. India was at the foothills…
Read article RBI caps tenure of bank MD/ CEO and issues direction on composition of the board
The Reserve Bank of India on Monday issued certain instructions on the governance for banks, including private banks, Small Finance Banks (SFBs), Wholly Owned Subsidiaries of Foreign Banks (not applicable to foreign banks operating as branches in India). In respect of the State Bank of India and Nationalised Banks, these guidelines would apply to the…
Read article RBI curtails quantum of declaration of dividends by banks
Reserve Bank of India while allowing banks to pay dividends on equity shares, reviewed the dividend declaration norms for the year ended March 31, 2021. “In view of the continuing uncertainty caused by the ongoing second wave of COVID-19 in the country, it is crucial that banks remain resilient and proactively raise and conserve capital…
RBI Monetary policy updates: Repo rate unchanged
As expected by most of the experts and analysts, the Reserve Bank of India (RBI) has today announced the monetary policy in which it has kept the repo rate unchanged at 4% and also decides to retain its ‘accommodative’ policy stance. RBI had kept the key policy rates unchanged for the fifth consecutive meeting. On…
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