RBI circular a welcome step; provides more freedom to bankers: IBA

RBI circular a welcome step; provides more freedom to bankers: IBA

NEW DELHI: The Reserve Bank’s new circular for resolution of stressed assets is propelled by provisioning requirements and gives more freedom to bankers in taking decisions, Indian Banks’ Association (IBA) chairman Sunil Mehta said on Saturday. Two months after the Supreme Court struck down its February 12 circular, the Reserve Bank of India (RBI) on […]

Provide names of big loan defaulters: CIC to RBI

Provide names of big loan defaulters: CIC to RBI

NEW DELHI: The Central Information Commission (CIC) has directed the Reserve Bank of India to disclose the list of big loan defaulters it had sent to banks for resolution. The CIC’s directive came while deciding on a plea by Lucknow-based activist Nutan Thakur, who had based her RTI application on some media reports that RBI […]

RBI not in favour of special credit window for NBFCs

RBI not in favour of special credit window for NBFCs

NEW DELHI: The Reserve Bank of India is not in favour of providing special credit window to the NBFC (non-banking financial companies) sector to tide over the liquidity crunch as the cash crunch phenomenon is not systemic, said sources. Industry players and government think-tank NITI Aayog made a case for giving special credit window for […]

RBI guv meets PSU banks’ CEOs, conveys regulator’s expectations

RBI guv meets PSU banks’ CEOs, conveys regulator’s expectations

NEW DELHI: Ahead of the monetary policy review, Reserve Bank of India Governor Shaktikanta Das Monday met heads of public sector banks and conveyed to them the regulator’s expectation from the banking sector. RBI is scheduled to announce its sixth bi-monthly monetary policy for 2018-19 on February 7. It would be the first monetary review […]

RBI shortlists 6 major IT cos for setting up Public Credit Registry

NEW DELHI: The Reserve Bank of India (RBI) has shortlisted six major IT companies, including Tata Consultancy Services Ltd (TCS), Wipro Ltd and IBM India, to set up a wide-based digital Public Credit Registry for capturing details of all borrowers and wilful defaulters. The proposed Public Credit Registry will also include data from entities like […]

Jaitley admits areas of difference between govt and RBI

Jaitley admits areas of difference between govt and RBI

Mumbai: Finance minister Arun Jaitley on Thursday admitted there were two-three areas of differences with the Reserve Bank of India (RBI), but questioned how a mere discussion on its functioning could be considered “destruction” of an institution. Under attack politically for creating circumstances that led to the resignation of Urjit Patel as the RBI governor, […]

CIC again asks PMO, RBI to disclose wilful defaulters’ list

CIC again asks PMO, RBI to disclose wilful defaulters’ list

New Delhi: Severely admonishing the RBI and the PMO, the Central Information Commission has again directed them to disclose the list of wilful defaulters and Raghuram Rajan’s letter on bad loans. In an exhaustive 66-page order, the panel pulled up the Prime Minister’s Office for not complying with its directive to disclose the letter from […]

RBI needs to align capital adequacy norms with Basel III norms

NEW DELHI: The government of India is of the view that the Reserve Bank of India should resort to Basel III norms for capital adequacy in banks rather than the present stricter guidelines which restrict the lending capacity of lenders, sources said. Currently, the RBI applies stricter norms and not those specified under Basel III […]

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