RBI

The Reserve Bank of India (RBI) banned the ‘zero percent interest’ rate scheme on purchase of goods/products through credit cards to protect the consumers from camouflaged interest rates. It may put impact on the sale of products during…

In a very surprising move, which rattled the India Inc., RBI Governor Raghuram Rajan has announced a hike of 25 basis points in the repo rate, making things difficult for the banks. The decision triggered an immediate fall in the market and…

New RBI Governor Raghuram Rajan continues to make a good impact on the market, as the BSE Sensex again surged 484 points today to reach 19,754 at around 1 PM. The Niifty too witnessed a gain of 134 points to trade at 5,786. The Rupee has…

The Indian Rupee recorded its biggest fall to slump to a new low of 61.80 against the USD at around 2 PM. But, later, it made some recovery to 60.77 after the RBI intervention. The Rupee has plunged over 1.6 per cent so far in August.…

The Reserve Bank of India (RBI) has hiked the Marginal Standing Facility (MSF) rate and Bank Rate each by 200 basis points to 10.25 percent, to curb Rupee's fall against the USD. As a result, the Rupee bounced back by 1% to trade at 59.13…

The Reserve Bank of India (RBI) has cracked the whip on erring banks, by imposing penalties on them for violating the KYC (Know Your Customers) rules and anti-money laundering norms. The Central Bank imposed Rs 49.5 crore fine on 22 banks,…

Finally, corporate houses can also enter to the banking sector in India. The Reserve Bank of India (RBI) announced new rules in this regard in lieu of which, the private and non-banking finance firms are now allowed to open their new banks.…

TNI Bureau: The Central Statistical Organisation (CSO) has portrayed a gloomy picture of Indian Economy, by predicting a lower growth rate this fiscal. The projected growth rate was reduced from 5.5% to 5%. This is the lowest growth…

TNI Bureau: In a huge relief to the millions of home buyers in India, the Reserve Bank of India (RBI) has reduced the repo rate and CRR (Cash Reserve Ratio) by 25 basis points each. As a result, the home loans will become cheaper and the…

TNI Bureau: The Lok Sabha on Tuesday passed the Banking Laws Amendment Bill, 2012 by voice vote. The Bill, along with the proposed legislations on pension and insurance, was one of the five key reform measures on the government’s agenda…