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A 2,124-Year Insurance Policy Triggers RBI Action, and the Launch of NYVO
Updated : 2 months, 2 weeks ago IST
New Delhi [India], February 11: A nationalised bank in Maharashtra sold a life insurance policy to a 90-year-old man. The annual premium was ₹2 lakh. The maturity date of the policy was the year 2124. This was not a hypothetical case or an isolated error, it happened. The Reserve Bank of Ind
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Despite FPI outflows, benign US dollar and RBI intervention kept lid on Ru
Updated : 1 year, 2 months ago IST
Despite significant foreign portfolio investor (FPI) outflows in February, the Indian rupee managed to avoid sharp depreciation, because of a stable US dollar and the Reserve Bank of India's (RBI) active intervention, according to a report by Bank of Baroda.
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Monetary Policy Committee of RBI reconstituted with new members
Updated : 1 year, 8 months ago IST
The central government has reconstituted the Monetary Policy Committee (MPC) under the provisions of the Reserve Bank of India (RBI) Act, 1934, the Ministry of Finance said in a statement.
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RBI imposes monetary penalty on IGH Holdings over non-compliances
Updated : 3 years, 2 months ago IST
The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 11.25 lakh on IGH Holdings Private Limited, Mumbai (the company) for some non-compliance with the provisions of RBI Act, among some others.
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RBI report on inflation mandate failure cannot be made made public, govern
Updated : 3 years, 5 months ago IST
Union minister of state in the ministry of finance Pankaj Chaudhary on Monday informed Lok Sabha that the relevant section of the RBI Act, 1934, does not provide provisions to the Reserve Bank of India for making the report, which was written to the Centre after having failed to fulfil its i
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RBI holds meeting to discuss, draft report on inflation mandate failure
Updated : 3 years, 6 months ago IST
The meeting was called on Thursday under Section 45ZN of the Reserve Bank of India (RBI) Act 1934, which pertains to steps to be taken if the central bank fails to meet its inflation-targeting mandate.
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RBI calls for additional monetary policy meet to discuss inflation mandate
Updated : 3 years, 7 months ago IST
The meeting has been called under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934, RBI said in a statement on Thursday.
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SC constitution bench to hear pleas challenging Centre's decision to demon
Updated : 3 years, 8 months ago IST
New Delhi [India], September 27 (ANI): The Supreme Court on Wednesday will hear pleas challenging the centre's decision to demonetise currency notes of Rs 500 and Rs 1,000 in 2016.
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M&M Finance tanks 14 per cent as RBI bars it from using third-party re
Updated : 3 years, 8 months ago IST
Mumbai (Maharashtra) [India], September 23 (ANI): The share price of Mahindra & Mahindra Financial Services Limited crashed by more than 14 per cent on Friday a day after the Reserve Bank of India (RBI) barred it from using third-party recovery agents.
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RBI bars Kerala-based Thodupuzha Urban Co-operative Bank from accepting de
Updated : 3 years, 9 months ago IST
Mumbai (Maharashtra) [India], August 24 (ANI): The Reserve Bank of India (RBI) on Wednesday said it has barred Kerala-based Thodupuzha Urban Co-operative Bank Ltd from offering basic services like granting any loans and advances or making any investment or acceptance of fresh deposits.
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India's forex reserves dip by $9.64 billion, the biggest drop in 2 years
Updated : 4 years, 2 months ago IST
Mumbai (Maharashtra) [India], March 19 (ANI): India's foreign exchange (forex) reserves declined by $9.646 billion to $622.275 billion in the week ended March 11, the sharpest decline in nearly two years, as the Reserve Bank of India (RBI) heavily sold dollars to prevent the slide in the val
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Bajaj Finance Online FD offers assured returns up to 7.25%
Updated : 5 years, 1 month ago IST
Pune (Maharashtra) [India], April 3 (ANI/NewsVoir): The government has kept the inflation target unchanged at 4 per cent for April 1, 2021, to April 1, 2026, under the RBI Act 1924.
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