Tag: RBI

RBI monetary policy- RBI holds repo rate for the 9th time- 5 key MPC highlights

August 8, 2024 Santhi No Comments

RBI Monetary policy- On Thursday, August 8, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) kept the benchmark repo rate at 6.5 percent, maintaining the status quo on policy rates for the ninth consecutive week. The MPC noted strong economic growth and indications of slowing inflation, but it nevertheless stuck to its policy…

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RBI updates its circular designating accounts as fraudulent, incorporates the borrower rights verdict from the Supreme Court

July 18, 2024July 18, 2024 Santhi No Comments

On July 15, the Reserve Bank of India (RBI) changed its master directives regarding the classification of frauds to take into account the 2023 ruling of the Supreme Court on “natural justice” for borrowers prior to the account being flagged as fraudulent. The July 15 master circular stipulates a board-approved policy that outlines senior management’s…

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RBI permits Indian residents to open foreign exchange accounts in GIFT City

July 11, 2024July 11, 2024 Santhi No Comments

Under the Liberalized Remittance Scheme (LRS), the Reserve Bank of India (RBI) has broadened the scope of remittances to International Financial Services Centres (IFSCs), enabling Indian citizens to open foreign currency accounts in GIFT City. The International Financial Services Centers Authority Act, 2019 within IFSCs permits authorised individuals to facilitate transfers for the purpose of…

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RBI fines PNB Rs 1.31 crore penalty; revokes a bank’s license located in Karnataka

July 6, 2024 Santhi No Comments

Punjab National Bank was fined Rs 1.31 crore by the RBI on Friday for failing to follow certain guidelines pertaining to KYC and “loans and advances.” According to the Reserve Bank, it carried out a required examination of the bank with respect to its financial standing as of March 31, 2022. The bank was served…

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RBI measures slowed the expansion of unsecured credit: Das

June 21, 2024 Santhi No Comments

RBI: Governor of the Reserve Bank of India (RBI), Shaktikanta Das, stated on Thursday that the expansion of unsecured loans has been restrained by the central bank’s prompt action. The Reserve Bank of India increased the risk weights on bank loans to non-banking financial organizations (NBFCs) and unsecured credit in November 2023. At a College…

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Bajaj Finance soars more than 7% after the RBI lifts limitations on the Insta EMI Card

May 3, 2024 Santhi No Comments

The Reserve Bank of India (RBI) removed restrictions on Bajaj Finance two products, eCOM and the online digital “Insta EMI Card,” which caused the company’s share price to soar over 7% during Friday’s early trading session. During Friday’s early trading hours on the NSE, the shares of the non-banking financial company saw a 7.51% increase,…

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RBI eliminates Bajaj Finance’s limitations

May 3, 2024May 3, 2024 Santhi No Comments

The Reserve Bank of India (RBI) has granted Bajaj Finance relief by permitting the non-banking finance company to once again approve and disburse new loans under eCOM and online via its “Insta EMI Card.” “The business is still dedicated to making sure that regulatory guidelines are followed and followed,” Bajaj Finance stated in a Thursday…

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Motilal Oswal anticipates a positive Dollar Index before to the Fed meeting

April 30, 2024 Santhi No Comments

Motilal Oswal: Even after the RBI released its policy statement, which kept interest rates the same and upheld its “withdrawal of accommodation” position, the rupee continued to consolidate within a small range. India’s robust economic growth and persistent inflation led the central bank to retain its policy rate and position. Motilal Oswal anticipates a positive…

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HUDCO shares jump 15% to a record high, while multibagger PSU stock has increased 369% in just a year

April 26, 2024April 26, 2024 Santhi No Comments

HUDCO shares: On the BSE, the stock increased 15.28% to reach a high of Rs 234.20. ICRA expressed stability in HUDCO’s outlook on April 24, citing the PSU’s continued strategic significance to the government. Housing & Urban Development Corporation Ltd. (HUDCO), a multibagger stock, surged 15% on Friday to reach a new record high, bringing…

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Bajaj Finance, Bajaj Finserv shares drop by 8% today; here’s why

April 26, 2024 Santhi No Comments

Amidst worries over the shadow lender’s earnings growth, shares of Bajaj Finance Ltd. plummeted dramatically on Friday. In comparison to its prior finish of Rs 7,293.90, the stock fell 7.78 percent to reach a day low of Rs 6,729. After growing its assets under management by 34% the year before, the non-banking financial organization predicted…

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