RBI

Three final offers received for PMC Bank resolution, says RBI Guv

PMC Bank scam: Ex-director’s police remand extended

1:50 pm October 22, 2019

Mumbai: A Mumbai court on Tuesday extended till October 24 the police remand of Punjab and Maharashtra Cooperative (PMC) Bank’s former director Surjit Singh Arora, arrested in connection with the multi-crore scam in the bank. Arora was last week arrested by Mumbai Police’s Economic Offences Wing (EOW) in connection with the alleged Rs 4,355 crore […]

National lockdown can dent GDP growth by 2%, states should do with local curbs: Report

Moody’s cuts India GDP growth forecast to 5.8% for FY’20

1:33 pm October 10, 2019

New Delhi: Moody’s Investors Service on Thursday slashed its 2019-20 GDP growth forecast for India to 5.8 per cent from 6.2 per cent earlier, saying the economy was experiencing a pronounced slowdown which is partly related to long-lasting factors. The projection is lower than 6.1 per cent that the Reserve Bank of India (RBI) had […]

RBI gives nod for Kerala Bank

1:13 pm October 10, 2019

Thiruvananthapuram: The Kerala government’s long pending dream of setting up its own bank, by merging district co-operative banks, is all set to become a reality with the Reserve Bank of India (RBI) giving the final nod for the move. With its formation, the proposed “Kerala Bank” will be largest banking network in the state. Expressing […]

Rupee settles 14 paise down at 71.02 against dollar

8:56 pm October 7, 2019

Mumbai: The rupee depreciated by 14 paise to close at 71.02 against the US dollar on Monday as profit booking in domestic equities and unabated foreign fund outflows kept investors edgy. Forex traders said market sentiment remained fragile ahead of the US-China trade meeting. Besides, rising crude oil prices also weighed on the domestic unit. […]

RBI cuts rates by 0.25% to support growth

12:38 pm October 4, 2019

New Delhi: The Reserve Bank on Friday cut its key rates by 0.25 per cent to boost economy from six-year low saying reduction was necessary to revive growth. With first quarter GDP growth plunging to 5 per cent, the RBI cut its estimate of economic growth in the current fiscal to 6.1 per cent from […]