RBI to issue Rs 10 banknotes bearing sign of Governor Shaktikanta Das soon
India | May 20, 2019 22:05 ISTReserve Bank of India Monday said it will issue Rs 10 denomination banknotes bearing signature of Governor Shaktikanta Das.
Reserve Bank of India Monday said it will issue Rs 10 denomination banknotes bearing signature of Governor Shaktikanta Das.
Intaglio printing based identification marks for helping the visually challenged in identification of denomination of banknotes are present in notes of Rs 100 and above.
The Division Bench, comprising of Justice K.K. Sasidharan and Justice P.D. Audikesavulu, said: "The fact that the central government has persuasive control over RBI would not make its employees central government employees.
In his speech titled 'Global Risks and Policy Challenges facing Emerging Market Economies', Das observed that the global financial crisis has exposed several limitations of conventional and unconventional monetary policy tools.
According to the RBI data released on Thursday, bank credit rose 13.24 per cent to Rs 97.67 lakh crore for the fortnight to March 29, while deposits grew by 10.03 per cent to Rs 125.72 lakh crore during the same period.
The reverse repo rate falls to 5.75 percent.
Observing that FinTech has the potential to reshape the financial services and financial inclusion landscape in India in fundamental ways, he said, it can reduce costs and improve access and quality of financial services.
The Reserve Bank of India (RBI) on Tuesday said it would infuse Rs 12,500 crore into the financial system through open market operations.
Yes Bank in a press release earlier last week had said the RBI has not found any divergence in the asset classification and provisioning done by the lender during 2017-18.
Last financial year, the RBI had paid an interim dividend of Rs 10,000 crore to the Centre.
The RBI, under its new Governor Shaktikanta Das, changed the monetary policy stance to 'neutral' from the earlier 'calibrated tightening', signalling further softening of rates if inflation remain benign.
RBI further said that it has been decided to harmonise major categories of NBFCs engaged in credit intermediation, viz., Asset Finance Companies (AFC), Loan Companies, and Investment Companies, into a single category.
The inflation rate was estimated at 3.2-3.4 per cent in the first half of the year 2019-20 and 3.9 per cent in the third quarter of 2019-20.
The inflation rate was estimated at 3.2-3.4 per cent in the first half of the year 2019-20 and 3.9 per cent in the third quarter of 2019-20.
The six-member MPC, headed by RBI Governor Shaktikanta Das, will meet between Tuesday and Thursday for the sixth bi-monthly monetary policy statement for 2018-19.
According to the RBI, the fine was imposed by an order dated January 4, 2019 "for non-compliance with 'Master Directions on Frauds-Classification and Reporting.
The five-member panel on deepening of digital payments has been constituted with a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the RBI said in a statement.
The Reserve Bank of India employees, however, have supported the strike only on January 8.
Das further said that he will meet the representatives of Non-banking Financial Companies (NBFCs) on Tuesday in Mumbai.
Nepal has asked the RBI to declare newly circulated Indian currency notes of denominations higher than Rs 100 legal tender in the country, according to media report on Sunday.
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