Free Press Journal
  • One of the 3 shortlisted candidates to head Axis

    Mumbai : The board of directors of Axis Bank shortlisted three candidates for the post of managing director and chief executive as the tenure of the current MD and CEO Shikha Sharma will end December 31.

  • Rupee likely to hit 70-mark this week

    Mumbai : Continued strengthening of the US dollar, lack of foreign investment inflows and concerns over rising oil prices are likely to keep the rupee under pressure and push it down to the 70 mark this week, according to bankers.

  • RBI Recruitment 2018: RBI invites application for 166 Grade B officers post; read for details

    The Reserve Bank of India (RBI) has invited application form eligible candidates for the posts of Officers in Grade ‘B’ (General) – DR, DEPR, and DSIM in Common Seniority Group (CSG) Streams. There are a total of 166 vacancies including backlog vacancies. The applicants can apply in the prescribed format on The application submission process has started from July 3 and the last date for submission of the application form

  • Behind weak rupee is a vulnerable external sector

    The Indian Rupee is falling. We are within striking range of Rs 70 to the US dollar. In intraday trade, the currency touched an all-time low of Rs 69.10 in the last week of June. The nosedive has raised alarm as the rupee becomes the worst performer among currencies. There are many questions from every corner and some answers from Union Minister Piyush Goyal, who has cited “external factors” for this fall.


    New Delhi : The Finance Ministry on Saturday advertised that it is looking for a new Chief Economic Adviser (CEA) in lieu of the resignation of Dr Arvind Subramanian to return to the United States.

  • India’s external debt rises over $529 bn

    Mumbai, India’s total external debt for the quarter ended March 2018 rose on a year-on-year basis by over 12 per cent to $529.7 billion, official data showed on Friday. According to the RBI, external debt rose to $529.7 billion from $471.3 billion reported for the corresponding period of 2017, on the back of an increase in commercial borrowings, short-term debt and non-resident Indian (NRI) deposits.

  • RBI may hike rates further to check inflation: HSBC

    New Delhi: The Reserve Bank of India is expected to push key policy rates higher again in order to keep inflation in check, says an HSBC report. Earlier this month, the central bank had upped its retail inflation projection by 0.30 per cent and kept the policy stance in the neutral zone, even as it hiked the key rate by 0.25 per cent to 6.25 per cent.


    NEW DELHI : Maharashtra’s farmers were the worst hit when the RBI in November 2016 stopped district cooperative banks from receiving deposits of banned notes just five days after demonetisation.

  • RBI asks banks to upgrade their ATMs for greater security or face action

    Mumbai: Taking a serious note of slow progress by banks in addressing security issues, the Reserve Bank today gave them strict timelines to upgrade their ATMs or else face action. As per the timeline, banks have to implement a host of security measures by August and upgrade all ATMs with the supported version of operating in a phased manner by June next year. There were over 2.06 lakh ATMs across the country till

  • Sensex drops 115 pts on profit-booking; RIL scales new high

    Mumbai, Benchmark Sensex gave up early gains to end 115 points lower at 35,432.39 today on losses in healthcare, capital goods, metal and auto stocks. Unabated capital outflows by foreign funds and weakening rupee too weighed on sentiment, brokers said. Bucking the trend, Reliance Industries continued its upward trajectory, spurting 1.09 per cent to a fresh closing high of Rs 1,031.10. Most Asian and European markets traded lower on uncertainty surrounding trade

  • Govt open to giving more powers to RBI: Goyal

    New Delhi : Finance Minister Piyush Goyal on Tuesday said the government is open to giving more powers to RBI to deal more effectively with frauds like the ones allegedly committed by diamond jeweller Nirav Modi in PNB.

  • 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.

  • Draft norms released to modify loan system for large borrowers

    Mumbai: The Reserve Bank of India (RBI) on Monday came out with draft guidelines on loan system for delivery of bank credit to improve discipline among larger borrowers enjoying working capital facility from the banking system.

  • RBI to raise $35 bn via NRI bonds to stem rupee slide

    New Delhi : The Reserve Bank of India (RBI) is expected to raise $30-35 billion through NRI bonds to support the rupee and offset the slowdown in FPI flows amid rising oil prices, says a report.