The RBI, in a release, said it has issued certain directions to Mantha Urban Cooperative Bank, Mantha District Jalna, Maharashtra, from the close of business on November 17, 2020.
As per the draft amalgamation scheme, the RBI has said on and from the appointed date, the entire amount of the paid-up share capital and reserves and surplus, including the balances in the share/securities premium account of the transferor bank (LVB), shall stand written off.
The Reserve Bank of India (RBI) has capped withdrawal limit at Rs 25,000 from Lakshmi Vilas Bank till December 16 due to its detoriating financial condition and safeguard the interest of its customers till a resolution is reached.
The Reserve Bank of India (RBI) on Tuesday proposed a draft scheme to Lakshmi Vilas Bank with DBS Bank India Ltd, a wholly-owned subsidiary of DBS Bank Ltd (DBIL), Singapore. The decision came soon after it had imposed a one-month moratorium on the private lender and capped deposit withdrawals at Rs. 25,000.
India has technically entered into a recession with a likely contraction in its GDP during the July-September period, according to a report by the Reserve Bank of India (RBI).
Addressing a joint press conference in the national capital on November 12, Union Finance Minister Nirmala Sitharaman spoke about predictions on Indian economy's trajectory in coming days.
Reserve Bank of India (RBI) Governor Shaktikanta Das has tested negative for coronavirus on Saturday and will join the office next week.
The issue price for the Sovereign Gold Bond has been fixed at Rs 5,177 per gram of gold, the Reserve Bank of India said in a statement on Friday. The Sovereign Gold Bond Scheme 2020-21-Series VIII will be opened for subscription from November 9 to 13, 2020.
In a relief to stressed borrowers who are facing hardships due to the impact of COVID-19 pandemic, the apex court had passed the interim order on September 3.
The Reserve Bank on Monday announced phased restoration of trading hours for various debt as well as currency market from November 9 as the country has started graded roll-back of the lockdown.
The RBI has informed the Supreme Court that it has asked the banks, and financial institutions as well as the non-banking financial institutions to take "necessary actions" to credit the accounts of eligible borrowers, by November 5, with the difference between compound and simple interest collected on loans of up to Rs 2 crore during the moratorium scheme.
In a notification, RBI said: "All lending institutions are advised to be guided by the provisions of the Scheme and take necessary action within the stipulated timeline."
Shaktikanta Das, Reserve Bank of India (RBI) Governor, tested positive for COVID-19 on Sunday.
RBI Governor Shaktikanta Das has said the risk of a second wave of COVID-19 could put sand in the wheels of the nascent recovery while his deputy M D Patra opined that it might take years to regain the output lost on account of the pandemic.
The Reserve Bank on Thursday issued final guidelines, including the framework, to set up a self-regulatory organisation for payment system operators as part of its payment and settlement systems vision. The framework will enable the central bank to recognise a self-regulatory organisation (SRO) for payment system operators (PSOs).
The Reserve Bank on Wednesday announced an 'on tap' Targeted Long-Term Repo Operations (TLTRO) scheme of up to Rs 1 lakh crore to enable banks to provide liquidity support to a host of sectors, including agriculture, retail, drugs and pharmaceuticals and MSMEs.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said that the government will have to spell out fiscal roadmap post coronavirus, PTI reported. Das also said that India is at the doorstep of revival process. More to follow.
The Reserve Bank of India (RBI) has clarified that loans which have remained standard without any defaults as of March 1, 2020, will be eligible for restructuring under the pandemic-related resolution framework issued in August.
The Governor of Reserve Bank of India (RBI), Shaktikanta Das on October 09 announced that Gross Domestic Product (GDP) is expected to decline by 9.5% in 2021.
Equity benchmark index Sensex rallied 327 points on Friday, extending gains for the seventh straight session on the back of financial stocks after the RBI left benchmark rate unchanged but decided to maintain an accommodative stance.
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