Category: Banking

Support from all sides needed to nurture economic recovery hit by 2nd wave of COVID: RBI Guv

Mumbai, Jun 18:  Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides — fiscal, monetary and sectoral — to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of […]

DBS is World’s Best Bank for the third year in a row

(Eds: Disclaimer: The following press release comes to you under an arrangement with PRNewswire. PTI takes no editorial responsibility for the same.) Global Finance magazine awards DBS ‘Best Bank in the World’ title for the second time in three years MUMBAI, India, Sept. 8, 2020 /PRNewswire/ — DBS […]

RBI announces nine additional measures for strengthening the Economy

Cuts interest rates, extends moratorium by another 3 months Exporters and Importers get More Liquidity Domestic Economy to contract in 2020-21, revive gradually in the second half: RBI Governor “It is when the horizon is the darkest and human reason is beaten down to the ground that faith […]

RBI ramps up economic support; cuts interest rates, extends loan moratorium

Mumbai, May 22: The Reserve Bank of India (RBI) on Friday slashed interest rates, extended moratorium on loan repayments and allowed banks to lend more to corporates in an effort to support the economy which is likely to contract for the first time in over four decades. The benchmark […]

RBI announces Rs 50,000 cr special liquidity facility for mutual funds

Mumbai, Apr 27:  The Reserve Bank of India on Monday announced a Rs 50,000 crore special liquidity facility for mutual fund, days after Franklin Templeton Mutual Fund decided to close six debt schemes. In a statement, the central bank said heightened volatility in capital markets in reaction to […]

Loan moratorium: Banks ask customers to be cautious against frauds

Kolkata, Apr 10: Several banks have cautioned their customers against possible attempts by fraudsters as they became active to exploit the three-month loan repayment moratorium offer in the wake of the coronavirus outbreak, officials said on Friday. The cyber criminals pretending as officials of banks have been reaching out […]

Yes Bank resolution framework underway, depositors can withdraw money from Mar 18: Das

Mumbai, Mar 16: The Reserve Bank of India (RBI) on Monday said the resolution framework for Yes Bank is underway as planned and depositors can withdraw their money from the evening of March 18. The RBI governor, Shaktikanta Das, also assured to intervene with additional liquidity if there is […]

Some bondholders of India’s Yes Bank file court petition against rescue deal

MUMBAI – Some bondholders of Yes Bank (YESB.NS) have filed a court petition against a state-led rescue deal that involves a writedown of their papers, potentially hindering a timely recovery at the beleaguered Indian lender. Axis Trustee Services Ltd, representing several investors in so-called AT1 bonds issued by […]