In a bid to boost demand and growth, the RBI's Monetary Policy Committee (MPC) on Wednesday announced 35 bps cut in repo rate, which eventually is expected to be transmitted to retail loans. However, a look at the recent past shows that rate cuts by the central bank are transmitted further to...
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The Reserve Bank of India (RBI) on Wednesday reduced its repo rate (short-term lending) by 35 basis points (bps) to 5.40% in its third bi-monthly monetary policy review for 2019-20.   Following the move, the reverse repo rate (short-term borrowing) stands at 5.15%. Subsequently, the...
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The Reserve Bank of India (RBI) imposed monetary penalty on 11 banks for non-compliance with provisions of “Frauds classification and reporting by commercial banks and select financial institutions (FIs)”. Public sector banks (PSBs), such as State Bank of India (SBI), Punjab National Bank...
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Updated on 8 August 2019 at 4.37pm to include response from ICICI Bank.   In June, the Reserve Bank of India (RBI) directed banks not to levy any charges for transactions processed in the real time gross settlement system (RTGS) and national electronic funds transfer (NEFT) systems in...
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Although there has been emphasis and hype over affordable housing since the past few years, an RBI survey released on Thursday shows that affordability in the country's housing sector has deteriorated in the last four years.   "Housing affordability worsened over the past 4 years as...
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