Reserve Bank of India RBI - Latest News, Analysis, Opinion

The scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings -- used for the purchase of gold -- into financial savings.

Govt Appoints Vandita Kaul As Nominee Director On Board Of Bank Of India

Banking & Finance Banking

Bank of India has a total of eight members on its board, including the MD and CEO Atanu Kumar Das, its four executive directors, one nominee director each from the government and the RBI and one shareholder director.

Rupee Opens On Flat Note, Rises 6 Paise To 73.36 Against US Dollar In Early Trade

Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 1,260.59 crore, as per exchange data.

RBI Cancels Licence Of West Bengal-Based United Cooperative Bank

Banking & Finance

United Co-operative Bank has been prohibited from conducting the business of 'banking' which includes acceptance of deposits and repayment of deposits with immediate effect.

Forex Reserves Surge By USD 32.29 Bn In Six Months :RBI

Economy

The net forward asset (receivable) of the Reserve Bank in the domestic foreign exchange market stood at USD 68.2 billion as at March-end 2021.

G-SAP: Second Tranche Of Bond Buying Worth Rs 35k Cr On May 20, Says RBI

The RBI will purchase seven government securities of different maturities amounting to Rs 35,000 crore. There will be no security-wise notified amount.

RBI Grants PPI Authorisation To Eroute Technologies

The Noida-based firm said the RBI authorisation will enable it to launch its payment solutions at scale independently unlike neo banks and other bank-led fintech companies.

Microfiance Sector Seeks RBI's Additional Support To Combat COVID-19 Second Wave

MFIs would be able to mobilise Rs 15,000 crore if this is implemented and this may help in the immediate flow of funds to MFIs from banks

Nomura Cuts FY22 Growth Estimate To 10.8% Due To Lockdowns

Health

The RBI estimates the economy to expand by 10.5 per cent in FY22 because of the base effect, while some analysts have warned that the growth may come down to as low at 8.2 per cent if the second wave peaks in June.

RBI Amends KYC Norms To Further Leverage Video-Based Customer Identification Process

REs may also undertake V-CIP for conversion of existing accounts opened in non-face to face mode using Aadhaar OTP based e-KYC authentication, and updation or periodic updation of KYC for eligible customers.

RBI Modifies Norms For Undertaking Govt Business By Private Banks

Banking & Finance

'Scheduled private sector banks, not having agency banking agreement with RBI, but intend to handle government agency business, may be appointed as agents of RBI upon execution of an agreement with RBI.

RBI Appoints Jose J Kattoor As Executive Director

Prior to being promoted as ED, Kattoor was heading Bengaluru Regional Office of the Reserve Bank as Regional Director for Karnataka.

Forex Reserves Surge By USD 3.91 Bn To USD 588.02 Bn

The forex kitty had touched a lifetime high of USD 590.185 billion in the week ended January 29, 2021

RBI To Conduct SLTRO Of Rs 10,000 Crore For Small Finance Banks On May 17