Free Press Journal
  • Heeding IMF and RBI voices of caution

    Two important bodies have sent out voices of caution on the Indian economy in recent days.  The International Monetary Fund (IMF) has revised its growth estimate downward for India, for this year as well as the next. The revision is small for 2018, from 7.4 to 7.3 per cent. But for next year, the revised growth projection is down from 7.8 to 7.5 per cent. The question is not about how accurate

  • 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 rbi.org.in. The application submission process has started from July 3 and the last date for submission of the application form

  • Rs 3.8k-cr from 70 A/Cs need NCLT resolution by Sept

    Mumbai : Nearly 70 large accounts with exposure worth Rs 3.8 trillion will require resolution under the Reserve Bank of India’s revised framework by September, warns a report.

  • 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.

  • 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 ECONOMIC ADVISER BY AUG 1?

    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.

  • All Bank hopes to come out of PCA in 2020

    Kolkata: State-owned lender Allahabad Bank is targeting to come out of the prompt corrective action (PCA), imposed on it by the Reserve Bank of India in the wake of the deterioration of its health, by 2020, a top bank official said. The bank, whose gross NPA stood at Rs 26,562.76 crore at the end of March 2017-18, is hoping to recover around Rs 5,500 crore in the current fiscal, UCO Bank executive director N

  • bombay high court, mumbai, samruddhi corridor, chief minister, CM, petition

    Bombay HC: Don’t interfere in functioning of agencies like ED, CBI and RBI

    Mumbai: One of the most common allegations levelled against the Union government since it assumed office in 2014 is that it is using statutory institutions to settle ‘political’ scores. The allegations were recently voiced before the Bombay High Court by the New Delhi Television (NDTV) news channel. The channel, accused of violating provisions of  the Foreign Exchange Management Act, 1999, (FEMA), claimed that agencies like Reserve Bank of India (RBI) and the

  • 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.

  • RBI sets rupee reference rate at 67.7695 against dollar

    Mumbai: The Reserve Bank of India today fixed the reference rate of the rupee at 67.7695 against the US dollar and 78.8566 for the euro. The corresponding rates were 68.1950 and 78.7925, as on June 21, 2018.

  • 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

  • Housing loan limits hiked under priority sector lending 

    Mumbai : Housing loans of up to Rs 35 lakh, for dwellings costing less than Rs 45 lakh, will be treated as priority sector lending (PSL) to give a fillip to the low-cost segment, the Reserve Bank of India said on Tuesday. PSL loans are relatively cheaper than market interest rate.

  • Fitch sees India growing at 7.4% this fiscal year

    New Delhi : Global rating agency Fitch Ratings on Wednesday raised India growth forecast for 2018-19 to 7.4 per cent from 7.3 per cent, but cited higher financing costs and rising oil prices as risks to growth.