Free Press Journal
  • RBI panel sees global tariff wars posing challenge to inflation goal

    Mumbai : RBI Governor Urjit Patel voted for a rate hike at its policy meet earlier this month as a step towards keeping inflation below the mandated 4 per cent mark on a “durable basis”, according to the minutes of the meeting released on Thursday.

  • RBI Governor Urjit Patel launches UPI 2.0

    Mumbai: Reserve Bank of India (RBI) Governor, Urjit Patel on Thursday launched the Unified Payments Interface (UPI) 2.0 developed by the National Payments Corporation of India (NPCI). The UPI 2.0 has enhanced features such as “invoice in the inbox, signed intent or QR, UPI mandate with blocking of funds and UPI for overdraft account”, NPCI said in a statement. Speaking at the launch, Patel said the enhanced platform is the outcome of

  • Govt open to discuss RBI’s power over regulating PSBs: Goyal

    Mumbai : Finance minister Piyush Goyal on Tuesday said the government is open to discuss the issues that the Reserve Bank of India (RBI) had raised recently over the lack of powers in regulating state-run lenders.

  • RBI needs more powers to oversee public sector banks: Governor to panel

    New Delhi: The Reserve Bank needs more powers to oversee public sector banks (PSBs), Governor Urjit Patel told a parliamentary panel today amid mounting bad loans in state-run lenders. The RBI governor, who appeared before the Parliamentary Standing Committee of Finance, faced tough questions from lawmakers on bad loans, bank frauds, cash crunch and other issues, according to sources. Sources said the governor assured the members that steps were being taken to strengthen the system.

  • RBI Governor Urjit Patel likely to appear before par panel tomorrow

    New Delhi: RBI governor Urjit Patel is likely to face tough questions from a parliamentary panel tomorrow on a range of issues including the amount of cash returned post demonetisation, the PNB fraud and the mounting bad loans of banks.

  • RBI to announce second bi-monthly Monetary Policy of 2018-19 today

    Mumbai: The Reserve Bank of India (RBI) will announce its second bi-monthly Monetary Policy of 2018-19 on Wednesday. The meeting of the monetary policy committee (MPC), headed by RBI Governor Urjit Patel, began here on Monday. The committee will meet today as well, before the policy will be announced.

  • Parliament panel to quiz Patel on PNB, ICICI scams

    New Delhi : A parliamentary panel has called Reserve Bank Governor Urjit Patel on May 17 to answer queries on a spate of banking scams unearthed in the last few months and mounting bad loans in the system, sources said on Tuesday.

  • RBI on frauds: A voice of helplessness

    Banks, private or public, do business with public money. Banking regulation should be effective and efficient, which it is not – plain and simple.

  • No banking regulator can catch, prevent all frauds: Urjit Patel

    New Delhi: In view of the recent Nirav Modi-led Punjab National Bank (PNB) fraud case, Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday said that it is not possible for any banking regulator to catch or prevent all frauds.

  • PTI Photo by Mitesh Bhuvad

    PSU bank recap plan ‘monumental step forward’: RBI Governor

    New Delhi: Reserve Bank Governor Urjit Patel today said the Rs 2.11 lakh crore bank recapitalisation plan is a ‘monumental step forward’ in safeguarding India’s economic future and a comprehensive policy would be put in place to address the challenges faced by the sector.

  • NPA resolution: RBI chief calls for recapitalisation of banks

    Mumbai: Reserve Bank Governor Urjit Patel today called for recapitalisation of state-run banks to help them resolve the NPAs issue in a time-bond manner as bad loans at 9.6 per cent of the system is not acceptable.