Speaking at a webinar organised by the Chennai International Centre (CIC), Sitharaman said that discussions are on with the RBI on the matter of one-time restructuring of loans.
The statement comes against the backdrop of social media buzz that issues that might arise while transferring money through Google Pay cannot be redressed under law as the app is unauthorised.
Amid ongoing phishing or cyberattack, Reserve Bank of India (RBI) on Wednesday warned citizens of fraudulent transactions. Due to coronavirus lockdown, online banking has seen a massive boom as it becomes the major source of carrying financial transaction.
The Reserve Bank of India (RBI) has extended the special liquidity facility made available for private sector lender YES Bank by three months. The earlier deadline for the facility was Jun 16.
The Reserve Bank of India (RBI) on Thursday said it has barred Kanpur-based People's Co-operative Bank from granting fresh loans and accepting deposits for six months, due to its weak financial position.
The Supreme Court on Thursday while hearing the issue of charging interest on loans during the moratorium period, has asked the Ministry of Finance for its response on whether the interest could be waived or should it continue during the moratorium period.
RBI Recruitment 2020: The Reserve Bank of India (RBI) has invited online applications for Medical Consultant posts on or before 29 June 2020.
Reserve Bank of India's announcement to cut repo rates and extend moratorium is 'progressive' and focuses more on developmental and regulatory policy measures, the Southern India Chamber of Commerce and Industry said on Friday.
Hours after the Reserve Bank of India (RBI) extended the moratorium on repayment of loans for three months on Friday, Union minister Hardeep Singh Puri said this step will offer relief to aviation sector companies like airports, airlines and ground handlers and help them improve their cash flow position.
The Reserve Bank of India (RBI) will extend a credit line of Rs 15,000 crore to the Export-Import (EXIM) Bank of India. The announcement is part of the RBI's latest measures to help businesses and the economy tide over the coronavirus crisis.
Suggestions from various quarters, including from Indian Banks' Association, have come for the further extension of moratorium and the RBI is actively considering them, according to sources.
The Reserve Bank of India has said that the amended trading hours (10:00 am to 2:00 pm) shall remain in place till further notice. Earlier, the period for which the trading hours were amended was capped at April 30. Now that period has been extended until further notice.
The Reserve Bank of India's liquidity support for mutual funds may struggle to be effective, as its success will hang on bank'' appetite to take up the risks involved, amid low capital headroom and a likely increase in fresh non-performing loans, according to Fitch.
The Reserve Bank of India (RBI) on Monday announced a special liquidity facility of ₹50,000 crore for mutual funds (SLF-MF), in a move to ease the iquidity pressures on mutual funds amid coronavirus crisis.
The reduction in reverse repo rate by 25 basis points to 3.75 per cent by the Reserve Bank is a significant step but it is important that banks should increase their risk appetite, say economists and analysts.
The real estate industry on Friday hailed RBI's decision to boost liquidity into the system and provide relief to loans taken from NBFCs for commercial projects, but sought one-time restructuring of their loans and a stimulus package to help the sector in battling the crisis caused by the lockdown to control COVID-19.
The Reserve Bank on Friday announced a slew of regulatory and liquidity measures for non-banking finance companies (NBFCs), including Rs 50,000 crore of targeted long-term repo operations (TLTRO 2.0) which will focus purely on providing funding to the sector.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that the RBI is doing everything to fight the epidemiological challenge that the world is facing. "India's growth rate is expected to be highest among G20 nations, as per IMF estimates," said RBI governor.
The Reserve Bank of India (RBI) has cut the reverse repo rate by 25 bps to 3.75% while there is no change in the repo rate, announced Governor Shaktikanta Das in a video conference on Friday.
Observing that it was difficult to make growth projections at this point of time, the Reserve Bank in its Monetary Policy Report said the lockdown following the outbreak of COVID-19 and expected contraction in global outlook would weigh heavily on the growth outlook.
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