To save the falling rupee, the Reserve Bank of India (RBI) will sell dollars to the government-owned oil marketing companies (OMCs) in the counry, said the RBI on August 28. Through a designated bank, the RBI will, with immediate effect, is to sell dollars to Indian Oil Corp (IOC), Hindustan Petroleum Corp (HPCL) and Bharat Petroleum Corp.
Tag: Reserve Bank of India
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Economic growth may recover later in FY14: RBI
In its Annual Report 2012-13, Reserve Bank of India (RBI) said the economic growth may recover later in 2013-14 if government delivers better administration, eases supply constraints and maintain stability. Economic growth in the country slipped to a decade-low level of 5 percent in 2012-13 and this year the RBI expects growth to be
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Govt may hold capital infusion until market stabilises
Unconfirmed reports indicate that the government may wait for the stock market to stabilise before infusing capital into state-run banks. The government feels that the chances of losing huge amount of money is lower once the stock prices reach a stable
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RBI hopes for growth prospects, cautious on Re fall
The continuously falling rupee would bring pressure on the country's inflation, the Reserve Bank of India (RBI) has cautioned on August 22. However, the apex bank provided some hope on economic growth by stating that it expected the inflation to be more than the five per cent of last financial year.
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Banks adequately capitalised despite rising bad loans
In its annual report, Reserve Bank of India (RBI) said the banking system is adequately capitalised despite the rising trend in the gross non-performing assets (NPA). The gross NPA rose to 4.4 per cent of the total advances by March 2014 from 3.42 per cent a year ago.
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Bank credit to infra sector rises
Bank credit to infrastructure sector rose over 100 times to Rs 786,045 crore in 2012-13 from Rs 7,243 crore in 1999-2000, Reserve Bank of India (RBI) said in its annual report. The report shows that credit exposure of banks to infrastructure sector has been deteriorating since 2011 owing to the economic slowdown and the emergence of sector-specific issues amid structural bottlenecks in the econ
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Banks borrow Rs 473.1 bn through MSF window
From the Reserve Bank of India's marginal standing facility (MSF) window, the banks in India have borrowed Rs 473.10 billion ($7.4 billion). on August 19, higher than the Rs 458.65 billion on August 16.
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RBI, govt must introduce more steps to meet deficit
Analysts opine that the government and the Reserve Bank of India (RBI) may require more effective measures to fight the current account deficit or balance of payments and fiscal problems. Though outward foreign investments have increased over the past few years, RBI's curbs will not mean much in actu
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Birla ready with Rs 750 cr for its banking biz entry
If the Aditya Birla Group gets license from the Reserve Bank of India (RBI) to set up banking business, the Group is ready to pump in Rs 750 crore more into its financial business in 2014 fiscal. The company's officials said the funds would be used to expand its financial services business in rural India where the group would be opening more branches.
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RBI bans import of gold coins, medallions without licence
The Reserve Bank of India has further restricted the import of gold into the country by prohibiting inward shipment of gold coins, medallions and dores without license. From now onwards, import of gold in the form of coins and medallions is prohibited and henceforth all import of gold in any form or purity shall be subject to a licence issued by Directorate General of Foreign Trade (DGFT) prescribing 20-80 scheme, Economic Affairs Secretary Arvind Mayaram said in Delhi.