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Reserve Bank Of India News

Rupee recovers from near-record low Friday, November 21, 2008 @ 9:38AMThe rupee strengthened on Friday from a near-record low, supported by the Reserve Bank of India and underpinned by a late rally in the stock market.
Call rate softens to 6.3% Thursday, November 20, 2008 @ 5:21PMCall money rate ended soft at around 6.30 per cent On Thursday amid thin demand with banks having already met most of their reserve requirements for the current Reporting Fortnight, dealers said. One-day call rate ended at 6.20-6.30 per cent, compared with 6.40-6.50 per cent on Wednesday.
Narayanasami frontrunner to succeed Leeladhar Thursday, November 20, 2008 @ 5:21PMThe finance ministry has initiated the process to find Reserve Bank of India (RBI) Deputy Governor V Leeladhar’s successor, and is likely to shortlist heads of six state-owned banks for the job, a senior finance ministry official said On Thursday.
RBI allows 49% single-entity FDI in credit info companies Thursday, November 20, 2008 @ 5:19PMThe Reserve Bank of India (RBI) has allowed up to 49 per cent foreign investment in credit information companies (CICs) by a single entity. This forms part of the revised notification on foreign direct investment (FDI) in CICs.
Govt mulls Rs 75,000 cr refinance window Thursday, November 20, 2008 @ 5:16PMThe government and Reserve Bank of India (RBI) are working on opening a massive Rs 75,000 crore refinance window to provide concessional funds for infrastructure, housing and small and medium enterprises (SMEs) by partly leveraging the country’s foreign exchange reserves.
Sensex plunges to three-year low levels Thursday, November 20, 2008 @ 5:06PMDomestic markets on Thursday prolonged the bear phase, with the Bombay Stock Exchange Sensitive index ending at a three-year low of 8,451.0.
Australia, N.Z. Dollars Drop as Stocks Plunge; RBA Intervenes Thursday, November 20, 2008 @ 4:58PMNov. 21 (Bloomberg) -- The Australian and New Zealand dollars dropped as U.S. stocks sank to an 11 year-low, prompting investors to dump higher-yielding assets. The Reserve Bank of Australia intervened to buy its own currency.
SBI gets nod for JV with Societe General for custodial svcs Thursday, November 20, 2008 @ 10:39AMState Bank of India said it has received Reserve Bank approval for a joint venture with Societe Generale, a large financial services group from Europe, for offering custodial and related services in the country.
Large-scale job cuts in India unlikely: Cabinet Secretary Thursday, November 20, 2008 @ 6:33AMIndia is unlikely to see any large-scale job cuts as it has a strong domestic market to consume what it produces, Cabinet Secretary K M Chandrasekhar said.
Russia Leads Emerging-Market Stock Slump as $52 Oil Stokes Rout Thursday, November 20, 2008 @ 6:31AMNov. 20 (Bloomberg) -- Russian shares tumbled, leading a slump in emerging markets worldwide, on concern falling oil prices will cripple developing-nation economies and deepen the financial crisis.
Indian bond yields seen easing on rate view, oil Wednesday, November 19, 2008 @ 9:11PMMUMBAI, Nov 20 (Reuters) - Indian federal bond yields are seen easing on Thursday on expectations the central bank will further ease policy to shore up the slowing economy, with lower global oil prices calming concerns on inflation.
Govt securities prices up Wednesday, November 19, 2008 @ 5:28PMGovernment bond prices ended up but off from day’s highs after profit booking and comments from a finance ministry official tempered the sharp rise intraday, dealers said.
Central Bank of India to expand overseas, eyes NRI deposits Wednesday, November 19, 2008 @ 5:26PMAt a time when the global banking industry is feeling the pinch of the global credit crunch, Central Bank of India is planning to expand its foreign presence.
John Paine - Global View November 2008 Wednesday, November 19, 2008 @ 5:01PMYes - there have been a lot of fires in the global financial markets. And it’s yet to be determined whether the world’s central banks and governments have been using water or gasoline.
Free trade camps watch as Obama considers Clinton appointees for cabinet posts Wednesday, November 19, 2008 @ 4:43PMSkeptics of U.S. free trade policies and their pro-trade rivals in the business community are watching as president-elect Barack Obama makes his picks for key cabinet and economic posts.
Aviation assets: Banks may get RBI succour Wednesday, November 19, 2008 @ 1:44AMWith banks apprehending large-scale defaults in the aviation sector, RBI is examining data from all lenders regarding their exposure to it. One of the options under consideration of the regulator is to extend the number of days for the banks to classify an asset as default.
Mobile banking likely to take off within a year Wednesday, November 19, 2008 @ 1:17AMThe regulatory committee of MPFI has prepared a report on "Mobile Banking Transactions in India-Operative Guidelines for Banks" in consultation with RBI.
Textile industry may see further job cuts: CITI Wednesday, November 19, 2008 @ 1:14AMHaving already witnessed a job cut of around seven lakhs so far in the year, the textile industry may see a further reduction in manpower by five lakhs, given in a decline in business by 1.5 per cent.
Assocham wants market stablisation fund Tuesday, November 18, 2008 @ 11:47PMNew Delhi, Nov 18 : Even as the government has pumped in huge liquidity in the financial system to reduce pain of the global financial crisis on Indian economy, an industry chamber has come out with its own set of suggestions to pump-priming capital markets facing depressed sentiments.
Emerging markets, new players to drive growth Tuesday, November 18, 2008 @ 7:05PMThe GSM Association (GSMA) has called for full NFC functionality – including the ETSI standard Single Wire Protocol (SWP) interface – to be built into commercially available handsets from mid 2009.
We’ll bounce back, says Chidambaram Tuesday, November 18, 2008 @ 5:03PMNEW DELHI: India yesterday insisted its economy would rebound next year from the global financial crisis, saying it expected to return to robust growth of 9%.
A K Bhattacharya Dangers of wrong diagnosis Tuesday, November 18, 2008 @ 12:44PMIn evening gatherings these days, it has become quite fashionable to extol the virtues of the Indian government’s cautious and prudent economic policies that have evidently limited the adverse impact of the global financial turmoil on the Indian economy.
Selling at bank counters continues; private players worst losers Tuesday, November 18, 2008 @ 12:39PMMumbai, Nov. 18 The selling at the banking counters continued into Tuesday, despite several announcements from Reserve Bank of India that it intended to improve liquidity for banks.
The Hindu Business Line : ‘RBI likely to take more monetary measures’ Tuesday, November 18, 2008 @ 12:36PMNew Delhi, Nov. 18 If the decline in inflation continues, it will bring in stability and lend confidence to the banking system to reduce lending rates, the Managing Director, ICICI Bank and President Confederation of Indian Industry (CII), Mr K.V. Kamath, said on Tuesday.
Mumbai, Nov 18: Tuesday, November 18, 2008 @ 12:01PMThe BSE Sensex extended losses to 4 percent on Tuesday afternoon, on worries about the weakening global economy, with financials falling heavily after Citigroup announced massive job cuts.
Rupee ends lower at 49.66 per US dollar Tuesday, November 18, 2008 @ 7:49AMMumbai, Nov 17: Rupee today drifted lower at 49.66 against the US dollar with a loss of 32 paise from its last finish of 49.34 on good demand for dollars from importers and foreign banks.
Seen lower as world stocks sink, but HPQ news supports Tuesday, November 18, 2008 @ 7:47AM Stock index futures were off about 1% ahead of the opening, which suggests the Russell 2000 will open near 447.
IndusInd Bank to open 30 new branches by end-FY 09 Tuesday, November 18, 2008 @ 7:32AMMUMBAI: Private sector IndusInd Bank, said on Tuesday said that it would be opening 30 new branches, 50 new off-site ATMs and six mobile ATMs in the next few months as per authorisations received from the Reserve Bank of India.
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Indian bond yields drop on rate cut expectations Tuesday, November 18, 2008 @ 6:48AM* Rate cut hopes rise as finance minister, cbank chief meet
Indian cash rates fall as funds with banks ample Tuesday, November 18, 2008 @ 6:06AM(Updates to close)
Rate cuts to happen soon, predicts ICICI Bank chief Tuesday, November 18, 2008 @ 5:55AM ICICI Bank believes interest rates would come down further.
RBI to make periodic review of mobile banking guidelines: MPFI Tuesday, November 18, 2008 @ 4:40AMMumbai, Nov 18 : The Reserve Bank of India (RBI) has agreed to review, once in six months, the guidelines on mobile banking, issued on October 7 this year.
Big rate cut needed to lift economy: ICICI chief Tuesday, November 18, 2008 @ 12:43AMInterest rates have to come down by another 2-3 percentage points in order to stimulate demand in the economy, ICICI Bank chief K V Kamath said on Tuesday.
Banks may not ease lending to real estate developers Tuesday, November 18, 2008 @ 12:17AMEven though the Reserve Bank of India (RBI) has reduced the risk weightage on loans to commercial developers and cut general provisioning for commercial real estate, commercial banks may not start lending to the sector immediately.
November 18, 2008 | 11:45 IST Tuesday, November 18, 2008 @ 12:15AMIndian stocks have turned volatile again though the bias remains negative on continuing selling across global equity markets.
Indian bond yields reverse early rises on rate view Monday, November 17, 2008 @ 11:58PM* Investors expect cbank will cuts rate cut soon
UPDATE: Asian Shares Fall On US, Corp Worries; HSI Dn 2.9% Monday, November 17, 2008 @ 11:50PMSINGAPORE (Dow Jones)--Asian share markets were falling Tuesday after a decline on Wall Street and given worries about the outlook for corporate earnings and global economic growth, with light trading volume underlying the caution pervading markets.
PM reviews measures to ease liquidity crunch Monday, November 17, 2008 @ 11:32PMPrime Minister Manmohan Singh today reviewed measures taken by the government to ease the liquidity crunch faced by India Inc arising out of the global financial crisis as well as discussed possible measures to help Indian exporters tide over the downturn in key markets like the US and Europe.
Banks blow for Indian shares Monday, November 17, 2008 @ 8:20PMMUMBAI: The BSE Sensex fell 1.01 per cent to its lowest close since late last month, taking losses over four days to 11.8pc as investors worried about how companies would be hit by a deteriorating global economy.
NRIs keep faith in India, pump $513 mn in September Monday, November 17, 2008 @ 4:46PM Non-resident Indians (NRIs) are reposing their faith in Indian banks and betting on the rupee having bottomed out. Gainers , Losers | Only: Buyers , Sellers
FROM CRISIS TO CRISIS Monday, November 17, 2008 @ 3:56PMA recent Dead Presidents poll of share investors attracted 442 respondents. Of them, 24 had more than doubled their money, 15 had made more than 50 per cent, 11 had made at least 10 per cent. So 60 had made some profit; all the other 388 had lost money.
That sinking feeling Monday, November 17, 2008 @ 2:30PMIndia was never secure as the global financial crisis wreaked havoc in the western world. The question was when would the country be impacted and to what extent. That became clear at the announcement of the credit policy by the Reserve Bank of India last month.
RBI measures: yet to sink in Monday, November 17, 2008 @ 2:23PMOn the first trading day after the Reserve Bank of India announced a series of measures to ease liquidity and make credit available to the corporate sector, the two most critical sectors likely to benefit from this move saw maximum erosion.
RBI to ensure adequate liquidity in the system Monday, November 17, 2008 @ 1:48PMBankers, industry pitching for further cut in lending rates
NBFCs expect banks to be more responsive Monday, November 17, 2008 @ 1:48PM‘We have started going to the banks and they are responding positively. We think we will start getting money from banks within two-three days.’
SC okays Rajasthan scheme for poor with a rider Monday, November 17, 2008 @ 9:58AMThe Supreme Court today permitted the Rajasthan Government to go ahead with its "Bhamasha scheme" envisaged at providing financial assistance to 50 lakh women from BPL families, subject to the conditions imposed by the Election Commission.
G-20 fails to impress market Monday, November 17, 2008 @ 9:52AMCOMMENT ON THIS ! Your Views! Share prices declined for the fourth straight day amid disappointment that the heads of Group of 20 (G-20) nations did not announce any specific actions to counter global economic downturn.
Nigeria: Senate Retreat and Challenges of Development Monday, November 17, 2008 @ 8:42AMThe seventh Senate of the Federal Republic of Nigeria on Tuesday in Kano began its four-day retreat.
Indian cash rates end lower as state banks lend Monday, November 17, 2008 @ 5:59AM(Updates to close)