Free Press Journal
  • Analysts expect RBI rate hike following ‘hawkish’ MPC minutes

    Mumbai: The interest rate-setting panel’s deliberations point towards a “hawkish” stance in the future, which may increase the possibility of a rate hike by the Reserve Bank, analysts said today. “Minutes (of the monetary policy committee) suggest that a back-ended rate hike in 2018 remains a possibility, if headline inflation exceeds the trajectory set out by the MPC,” domestic rating agency Icra said in a note. It was also leaning towards hawkishness, which was

  • yesbank

    Yes Bank gets RBI nod to open offices in London, Singapore

    New Delhi: Private sector lender Yes Bank today said has received Reserve Bank of India’s (RBI) approval to open two representative offices in London and Singapore. “This is a significant development in the overall augmentation of Yes Bank’s business model and will help in further diversification and expansion of financial services to the NRI diaspora,” Yes Bank MD and CEO Rana Kapoor said.

  • Rupee cracks below 66-mark, falls 25 paise against US dollar

    Mumbai: Rupee weakened by 25 paise to breach the 66-level and hit its 13-month low of 66.05 against the US dollar in the early trade today due to appreciation of the US currency overseas. Increased demand for the dollar from importers also put pressure on the domestic unit.

  • Indore: Cash crunch continues, supply from RBI likely on April 21

    Indore: The wedding season is in full swing but people are finding it difficult to make payments due to cash crunch prevailing in the city. On Thursday too, banks did not receive fresh currency notes from Reserve Bank of India. As a result, the banks put money in ATMs after whatever cash they received from customers.

  • RBI panel members favour shift in policy stance in June

    Mumbai : The Reserve Bank of India may shift to a hawkish monetary stance in June, as per the indications provided in the minutes of the last meeting of the Monetary Policy Committee (MPC). RBI Deputy Governor Viral Acharya favoured withdrawal of monetary accommodation in the next policy review meeting scheduled on June 4-5.

  • Over 1,200 NBFCs submit records to govt after being called non-compliant: Officials

    New Delhi : Over 1,200 non-banking financial companies (NBFCs), recently flagged as ‘high risk’ prone for not complying with a provision of the anti-money laundering law, have hurriedly submitted their records to the government to be identified as legally compliant, officials said.

  • Cash Crunch, India, Cash crunch in India, ATM cash crunch, Shiv Pratap Shukla, Reserve Bank of India, Shiv Pratap Shukla

    Cash crunch: Cash available in over 80% of ATMs, claims MoS Shiv Pratap Shukla

    New Delhi: Amid rising furore over a reported cash crunch in the country, Minister of State (MoS) for Finance Shiv Pratap Shukla on Wednesday refuted the same, saying more than 80 percent of the ATMs in the country have cash. Speaking to ANI, the minister further urged individuals circulating ‘misleading’ information to stop doing so.

  • Surge in 1-day default norms breach worries apex bank

    Pune : Reserve Bank of India (RBI) deputy governor NS Vishwanathan on Wednesday raised concerns over the large number of borrowers failing on the one-day default norm, and asked the lenders to take this as a warning indicator warranting action.

  • Cash crunch: Common man perturbed as cash crunch continues

    The nation is witnessing a currency shortage for the second day in a row, causing a disruption of one’s daily routine. Reports have been pouring in on Wednesday morning from different pockets of the country, where individuals have visited ATMs in the hope of withdrawing money, but come back with empty wallets.

  • Improve bank’s ability to go after debtors says IMF to India

    The International Monetary Fund (IMF) has urged India to strengthen the ability of banks to go after debtors and warned that debts negatively impact investments. “The corporate debt overhang and associated banking sector credit quality concerns exert a drag on investment in India,” the IMF’s World Economic Outlook report released on Tuesday said.

  • 5 PSBs report Rs 131-cr exposure to SSK Trading

    Mumbai : Five public sector banks on Tuesday reported a cumulative outstanding exposure of Rs 131 crore to SSK Trading, which has allegedly cheated a consortium of six banks led by Punjab National Bank of Rs 187 crore.

  • RBI penalty not to have any material impact says IDBI Bank

    Mumbai: State-run IDBI Bank on Thursday said a Rs 3 crore penalty imposed on it by the Reserve Bank of India (RBI) “will not have any material impact” on it. According to a BSE filing by IDBI Bank, the RBI imposed a Rs 3 crore penalty on it for non-compliance of ‘Income Recognition and Asset Classification’ (IRAC) norms.

  • RBI imposed Rs 3 crore fine on IDBI Bank violation of asset classification norms

    Mumbai: The Reserve Bank of India (RBI) imposed monetary penalty worth Rs. 3 crore on IDBI Bank for not complying with the outlined norms related to reporting of bad loans. In an official notice, the RBI said the penalty was imposed on account of non-compliance with the directions issued on Income Recognition and Asset Classification (IRAC) norms.