The Reserve Bank of India (RBI) has delegated to banks the power to approve in cases where the average maturity period of fresh external commercial borrowing (ECB)
Tag: Reserve Bank of India
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NHAI to get a leg-up
The Ministry of Road Transport and Highways and the National Highways Authority of India (NHAI) have initiated a number of steps for speedy completion of national highway projects.
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Fresh RBI norms for bank licences
According to the Finance Ministry, more players will soon get bank licences as the Reserve Bank of India (RBI) will come out with fresh norms on new bank licences in the next four months. In April, RBI had issued bank licences to IDFC and Bandhan Financial Services, out of 25 applications.
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Bandhan to start 600 branches
Bandhan Financial Services plans to begin its banking journey next year with around 600 branches. Bandhan will operate in the rural belt and in the unbanked areas of the country.
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IDFC and Bandhan get banking licence
The Reserve Bank of India (RBI) has decided to issue permits to IDFC and Bandhan, the country's largest micro lender based in Kolkata. After the Election Commission gave its clearance to grant of new licences, RBI's committee of central board met to deliberate on the two names placed before it and decided to give its in-principle approval. IDFC and Bandhan will get a year and a half to begin operations, failing which their licences could be cancelled.
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FIIs investment limit in PowerGrid
The Reserve Bank of India (RBI) has raised the Foreign Institutional Investors (FIIs) investment limit in the Power Grid Corporation to 30 per cent of its paid up capital. The RBI said that FIIs, through the primary market and stock exchanges, can now purchase up to 30 per cent of the paid up capital of Power Grid Corporation of India under the Portfolio Investment Scheme.
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RBI hikes repo rate
The Reserve Bank of India (RBI) hiked its repo rate by 0.25 per cent to 8 per cent. The move according to the RBI is to dampen inflation, saying it was now better prepared to deal with the risk of major capital outflows roiling emerging economies. RBI, however, said that if retail inflation eases as projected, it does not foresee further near-term monetary policy tightening.
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Provisioning norms eased on loans for low-income housing
Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH)is established by government of India to cover advances provided for low income housing.
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Dena Bank’s 1st overseas office in London by Dec end
By the end of this December, government-owned Dena Bank is to open its first overseas office in London, the bank stated. It has govt approval from Reserve Bank of India and the government. The London branch will be a representative of the bank.
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RBI gets $22.7 bn via special swap window
India's central bank, Reserve Bank of India has received $22.7 billion till date under its special concessional window to encourage banks to bring in dollars through non-resident Indian deposits and overseas borrowings. Through this window, the RBI wants banks to bring in safe money to fund the IndiaÂ’s current account deficit.