Reserve Bank of India’s (RBI) former Governor Raghuram Rajan gave cricketing analogy for the Central Bank’s operation board, asking it to play like Rahul Dravid and not like Navjot Singh Sidhu. Talking about the alleged rift between the government and RBI, Rajan in an interview to Economic Times strongly advocated for the autonomy of the Central bank stating that it is in the interest of the country that both sides […]

An RBI study has found that the controversial note-ban imposed in November 2016 has led to further decline in the already falling credit to the MSME sector, while GST roll-out has not made any significant positive impact on overall credit to the sector but has deeply dented their exports. The credit disbursal to the MSME sector has, however recovered a tad since the lows of 2017 to reach the mid-2015 […]

The Reserve Bank of India (RBI) will soon issue new Rs 100 denomination banknotes in lavender colour. This comes on the back of new designs introduced for Rs 200, Rs 500 and Rs 10 notes, in the last couple of years. “The Reserve Bank of India will shortly issue ₹ 100 denomination banknotes in the Mahatma Gandhi (New) Series,” the RBI said in a statement. While the front side depicts […]

The Reserve Bank of India (RBI) may either be holding back Rs. 2,000 notes or could have stopped printing high denomination currency, says a SBI Research report. Juxtaposing the data presented in the Lok Sabha recently with the one provided by RBI in its Annual Report earlier, the SBI Ecoflash report said today, “we observe” that the value of small denomination currency in circulation up to March 2017 was Rs. […]

Almost a year after demonetisation RBI says still verifying returned notes Almost a year after Prime Minister Narendra Modi announced demonetisation, the Reserve Bank of India said that the Rs 500 and Rs 1,000 bills returned to banks are still being “processed in all earnest” through a sophisticated currency verification system. In reply to an RTI query, the central bank said it has processed about 1,134 crore pieces of Rs.500 […]

The Reserve Bank will launch Rs 200 banknotes on Friday, increasing the availability of lower denomination currency in the system. The bright yellow coloured notes will hit the market just a day after the announcement by finance minister Arun Jaitley that the government has given go-ahead to the RBI to issue the new currency bill. Here are 17 features of the new Rs 200, according to the RBI: 1. See […]

The Reserve Bank of India (RBI) has advised commercial banks to provide adequate transaction details in the passbooks of account holders. “In the interest of better customer service, it has been decided that banks shall at a minimum provide the relevant details in respect of entries in the accounts,” the central bank said in a notification. The RBI said that many banks still do not provide adequate details of the […]

The Finance Ministry today said names of the 12 big defaulters identified by the RBI for initiation of bankruptcy proceedings will soon be made public. The RBI yesterday said it has identified 12 large loan defaulters who account for 25 per cent of the total NPAs in the banking sector and those will be referred to respective banks for filing insolvency proceedings. These cases will be accorded priority by the […]

There has been a notable drop in cash withdrawals from banks and ATM branches from its peak post the demonetisation of Rs 500, Rs 1,000 notes, according to a research report by State Bank of India. According to the report, “post demonetisation (i.e. after 30th December), cash withdrawals have been declining rapidly from a peak of Rs 528 billion for the week ended 13th January to Rs 325 billion recently […]

RBI Governor Urjit Patel and his deputies have got a big pay hike with the government more than doubling their basic salary to Rs 2.5 lakh and Rs 2.25 lakh per month, respectively. The “basic pay of the governor and deputy governors” have been revised retrospectively with effect from January 1, 2016 and marks a huge jump from Rs 90,000 basic pay so far drawn by the governor and Rs […]