Industry body ASSOCHAM urged the civil aviation ministry, the Planning Commission and the RBI to work out a joint and a clear mechanism to give a boost to the aviation sector. In a communication to the government, the chamber raised concern that the sector faces policy and regulatory issues besides lack of finance, especially the equit
Tag: Reserve Bank of India
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RBI simplifies norms on foreign investment in bonds
The Reserve Bank of India (RBI) has simplified investment norms for foreign investors in the bond market. Earlier, there was a restriction that foreign investors can invest a maximum of $10 billion in treasury bills. Now, the central bank prescribed a overall cap of $25 billion on investment in government bonds, including both long- and short
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RBI chief discusses license norms with house panel
Reserve Bank of India (RBI) Governor D Subbarao recently discussed the final guidelines on new bank licenses with the Parliamentary Standing Committee on Finance. The guidelines were issued by the central bank recently to allow corporate houses and public sector entities with “sound credentials and a minimum track record of
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Foreign banks seek more time to adhere to norms
Reserve Bank of India (RBI) received a request from large foreign banks operating in the country to to extend the timeline for adhering to the new priority sector norms. It may be recalled that the new priority sector norms makes it mandatory for foreign banks with over 20 branches to allocate at least 40 percent of its credit to priori
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Bankers want RBI to reduce CRR
Bankers urged the Reserve Bank of India (RBI) to reduce the cash reserve ratio (CRR) by 50 basis points in its Annual Policy on May 3. Bankers want the central bank to reduce CRR as such a move would release cash into the system and ease liquidity pressure. CRR is the portion of deposits that banks have to set aside
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Bank credit grows 14.12%
Credit growth in the banking sector stood at 14.12 percent as of March 22 on a year-on-year (yoy) basis compared to the Reserve Bank of India (RBI)'s target of 16 percent for 2012-13. Similarly, bank deposits expanded 14.26 percent as of March 22 on a yoy basis, compared to the central bank's comfort level of 15 percent
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PM's address at the CII National Conference and Annual General Meeting
I am delighted to be here today to inaugurate the CII annual meeting for 2013. I have always believed that both government and business have to be partners in writing the story of development of this ancient land of ours, and CII has been a greatly valued partner over the past many years.
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RBI defers Basel norms for currency derivatives
In a notification, the Reserve Bank of India (RBI) said it delayed the implementation of Basel-III regulations for currency derivatives segment to January 2014. The central bank postponed the implementation for the segment pending resolution of norms regarding trade settlement. But the RBI said the new capital adequacy requirements will be implemented from April 1. In view of the shift in the start date of Basel III implementation, all ins
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RBI for steps to prevent money laundering
Reserve Bank Governor Duvvuri Subbarao on March 22 said some corrective steps will be taken to strengthen the banking system which according to him is largely safe. Subbarao's statement come amid allegations of money laundering in leading private sector banks.
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Barclays Capital expects RBI to cut rates by 50 bps
Barclays Capital feels that Reserve Bank of India (RBI) may reduce policy repo rate by another 50 basis points by mid 2013 in order to support economic growth. The brokerage interpreted RBI's policy statement on March 19 as being "balanced", and not the hawkish tone that markets have interpreted