Search For "bank of india"
RBI likely to transfer Rs 1 trillion to government in FY25
Updated : 2 years, 2 months ago IST
The Reserve Bank of India (RBI) is likely to transfer approximately Rs 1000 billion to the government IN FY25 according to a report by Union Bank of India.
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RBI proposal of higher provisioning for under-construction projects will h
Updated : 2 years, 2 months ago IST
The Reserve Bank of India's (RBI) proposal to set aside 5 per cent of the loan for construction projects, which is significantly higher than the 0.4% that it used to be earlier, has raised the concerns of the builders. The proposal, however, also provisioned it to be lowered to 2.5% when the
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SBI's net profit grows 18% in fourth quarter, 20.5% for entire 2023-24
Updated : 2 years, 2 months ago IST
The State Bank of India (SBI), the country's largest lender, has reported an 18 percent rise in consolidated net profit at Rs 21,384 crore for the quarter that ended in March, aided by strong credit growth.
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Orient Craft Announces Debt-free Status, Eyes Jharkhand as Next Growth Des
Updated : 2 years, 2 months ago IST
New Delhi [India], May 9: Orient Craft Limited, India's leading player in the garments manufacturing and exports industry, today announced its 100% debt-free status. It worked closely with a consortium of 11 banks, including the State Bank of India (SBI), United Bank of India (UBI), HDFC and
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Private digital currencies are potentially dangerous, CBDC a safer alterna
Updated : 2 years, 2 months ago IST
Reserve Bank of India Governor Shaktikanta Das said on Monday that Central Bank Digital Currency (CBDC) or digital currency, can drive financial inclusion and provide a much safer alternative to potentially dangerous private digital currencies.
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Ind-Ra raises FY25 GDP growth estimate to 7.1 pc: Strong government-privat
Updated : 2 years, 2 months ago IST
The new projection slightly exceeds the Reserve Bank of India's (RBI) forecast of 7.0 per cent. The agency's forecast indicates higher growth than RBI's for the first and fourth quarters of FY25 but lower for the second and third quarters.
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REC gets RBI nod to set up subsidiary in GIFT City, Gujarat
Updated : 2 years, 2 months ago IST
REC Limited, a non-banking financial company, has received a No Objection Certificate (NOC) from Reserve Bank of India (RBI) for setting up a subsidiary in Gujarat International Finance Tech- City ( GIFT) in Gandhinagar, Gujarat.
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India and China added 60 percent of global central bank gold purchase in M
Updated : 2 years, 2 months ago IST
The Reserve Bank of India added 5 tons of Gold to its reserves during March. The gold reserves of the central banks worldwide reported a net increase in their gold reserves.
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RBI directs banks to restrict capital market exposure
Updated : 2 years, 2 months ago IST
The RBI's move comes in response to changes in the settlement cycle introduced by stock exchanges, shifting from T+2 to T+1 rolling settlement for equities.
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India, Nigeria agree for early conclusion of local currency settlement sys
Updated : 2 years, 2 months ago IST
The two sides agreed for an early conclusion of the Local Currency Settlement System Agreement to further strengthen bilateral economic ties.
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RBI imposes monetary penalty on Satara Sahakari Bank Limited
Updated : 2 years, 2 months ago IST
According to RBI, the penalty, imposed by an order dated April 29, 2024, has been invoked under the powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act.
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Value of Rs 2000 banknotes in circulation plummets to Rs 7961 cr, 97.76 pc
Updated : 2 years, 2 months ago IST
According to a press release by the RBI, the total value of Rs 2000 banknotes in circulation, which stood at Rs 3.56 lakh crore at the close of business on May 19, 2023, has significantly declined to Rs 7961 crore at the close of business on April 30, 2024.
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