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Microsoft Power Outage Caused "Minor Disruptions" In 10 Banks: RBI
The RBI on Friday said the outage in Microsoft Services impacted 10 banks and NBFCs with minor disruptions which have either been resolved or are being resolved.
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Paytm CEO Vijay Shekhar Sharma Said to Be in Talks With RBI Over Regulatory Concerns
Paytm Chief Executive Vijay Shekhar Sharma met the Indian central bank on Monday to discuss plans to address regulatory concerns, two sources with direct knowledge of the talks said on Tuesday, days after the regulator imposed curbs on its banking affiliate.
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Former SREI Group Promotors Slam Auditor's Report On Alleged Fraud, Mull Legal Action
Kanoria family, erstwhile promoters of SREI group, has slammed the firm's transaction auditor's report for calling loans to power sector as fraudulent
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Sensex, Nifty Close At Record Highs Powered By Gains In Banking Shares
Expectations of dovish monetary policy from the RBI on Friday to spur the economic growth in the country boosted positive sentiment on Dalal Sreet.
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Delhi High Court Clarifies Regulations 6,9 Of Central Bank FEMA Regulations 2004
Delhi High Court passed a detailed judgement which clarified Regulation 6 and 9 of the RBI FEMA Regulations 2004 while disposing of Jindal Steel and Power Ltd petition and upholds transfer of money by it to a foreign subsidiary
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HDFC Bank Barred From Adding Credit Card Customers After Power Outage
HDFC Bank Outages: RBI has ordered HDFC Bank to temporarily stop activities under the Digital 2.0 initiative until the technical glitches are fixed
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Centre's Interest Waiver Plan Fails To Deal With "Many Issues": Top Court
The Supreme Court today said the centre's affidavit on waiving "interest on interest" on loans up to Rs 2 crore, frozen during a six-month moratorium granted because of the coronavirus crisis, was not satisfactory and asked for a do-over in a week. The affidavit "fails to deal with several issues raised by petitioners", the court said. The central ...
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RBI Okays 3-Member Committee Of Directors To Manage Lakshmi Vilas Bank
The panel of three independent directors will manage the day-to-day affairs at the Chennai-based lender and exercise discretionary powers of the managing director and CEO, the RBI said.
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Lok Sabha Passes Legislation To Bring Cooperative Banks Under RBI Control
Replying to the debate on the bill, Finance Minister Nirmala Sitharaman said this legislation is for depositors' safety and not for undermining powers of the Registrar of Cooperative Societies.
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KV Kamath Panel Identifies 26 COVID-19-Affected Sectors For Debt Resolution
The Reserve Bank of India (RBI) said on Monday that it had broadly accepted recommendations made by a committee on loans restructuring for COVID-19-affected businesses. The RBI-appointed panel, under eminent banker KV Kamath, recommended five financial ratios for 26 sectors - including aviation, construction, power, real estate and automobiles - wh...
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RBI Governor Shaktikanta Das Highlights 5 Positive Shifts In Economy
Reserve Bank of India Governor Shaktikanta Das on Monday highlighted five major dynamic shifts in the country that, he said, need to be "converted into structural transformations" and will lead to "sizeable benefits for economy". "The fortunes shifting in favour of the farm sector, the changing energy mix in favour of renewables, leveraging informa...
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"Plans Come From Small Set Of Personalities Around PM": Raghuram Rajan
Former Reserve Bank of India (RBI) governor Raghuram Rajan said India is in the midst of a "growth recession" that is being run through extreme centralisation of power in the Prime Minister's Office.
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RBI Seen Reducing Key Interest Rates For Fifth Time This Year
In a bid to revive business activity, the government in September announced a sharp cut in the corporate tax rate - to 22 per cent from 30 per cent. But while the tax cut brings the cost of doing business in India into line with its main Asian rivals, the government's move will do little to fix a lack of spending power, economists say.
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Economic Slowdown "Very Worrisome", New Reforms Needed, Says Raghuram Rajan
Former RBI Governor Raghuram Rajan has called slowdown in the economy "very worrisome". The government needs to fix the immediate problems in power and non-bank financial sectors and come out with a new set of reforms to energise private sector to invest, he said.
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Atanu Chakraborty Appointed Economic Affairs Secretary, Replaces SC Garg
The government has appointed Atanu Chakraborty as the new economic affairs secretary, a coveted position in the finance ministry, a statement late on Wednesday said.
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Microsoft Power Outage Caused "Minor Disruptions" In 10 Banks: RBI
The RBI on Friday said the outage in Microsoft Services impacted 10 banks and NBFCs with minor disruptions which have either been resolved or are being resolved.
-
Paytm CEO Vijay Shekhar Sharma Said to Be in Talks With RBI Over Regulatory Concerns
Paytm Chief Executive Vijay Shekhar Sharma met the Indian central bank on Monday to discuss plans to address regulatory concerns, two sources with direct knowledge of the talks said on Tuesday, days after the regulator imposed curbs on its banking affiliate.
-
Former SREI Group Promotors Slam Auditor's Report On Alleged Fraud, Mull Legal Action
Kanoria family, erstwhile promoters of SREI group, has slammed the firm's transaction auditor's report for calling loans to power sector as fraudulent
-
Sensex, Nifty Close At Record Highs Powered By Gains In Banking Shares
Expectations of dovish monetary policy from the RBI on Friday to spur the economic growth in the country boosted positive sentiment on Dalal Sreet.
-
Delhi High Court Clarifies Regulations 6,9 Of Central Bank FEMA Regulations 2004
Delhi High Court passed a detailed judgement which clarified Regulation 6 and 9 of the RBI FEMA Regulations 2004 while disposing of Jindal Steel and Power Ltd petition and upholds transfer of money by it to a foreign subsidiary
-
HDFC Bank Barred From Adding Credit Card Customers After Power Outage
HDFC Bank Outages: RBI has ordered HDFC Bank to temporarily stop activities under the Digital 2.0 initiative until the technical glitches are fixed
-
Centre's Interest Waiver Plan Fails To Deal With "Many Issues": Top Court
The Supreme Court today said the centre's affidavit on waiving "interest on interest" on loans up to Rs 2 crore, frozen during a six-month moratorium granted because of the coronavirus crisis, was not satisfactory and asked for a do-over in a week. The affidavit "fails to deal with several issues raised by petitioners", the court said. The central ...
-
RBI Okays 3-Member Committee Of Directors To Manage Lakshmi Vilas Bank
The panel of three independent directors will manage the day-to-day affairs at the Chennai-based lender and exercise discretionary powers of the managing director and CEO, the RBI said.
-
Lok Sabha Passes Legislation To Bring Cooperative Banks Under RBI Control
Replying to the debate on the bill, Finance Minister Nirmala Sitharaman said this legislation is for depositors' safety and not for undermining powers of the Registrar of Cooperative Societies.
-
KV Kamath Panel Identifies 26 COVID-19-Affected Sectors For Debt Resolution
The Reserve Bank of India (RBI) said on Monday that it had broadly accepted recommendations made by a committee on loans restructuring for COVID-19-affected businesses. The RBI-appointed panel, under eminent banker KV Kamath, recommended five financial ratios for 26 sectors - including aviation, construction, power, real estate and automobiles - wh...
-
RBI Governor Shaktikanta Das Highlights 5 Positive Shifts In Economy
Reserve Bank of India Governor Shaktikanta Das on Monday highlighted five major dynamic shifts in the country that, he said, need to be "converted into structural transformations" and will lead to "sizeable benefits for economy". "The fortunes shifting in favour of the farm sector, the changing energy mix in favour of renewables, leveraging informa...
-
"Plans Come From Small Set Of Personalities Around PM": Raghuram Rajan
Former Reserve Bank of India (RBI) governor Raghuram Rajan said India is in the midst of a "growth recession" that is being run through extreme centralisation of power in the Prime Minister's Office.
-
RBI Seen Reducing Key Interest Rates For Fifth Time This Year
In a bid to revive business activity, the government in September announced a sharp cut in the corporate tax rate - to 22 per cent from 30 per cent. But while the tax cut brings the cost of doing business in India into line with its main Asian rivals, the government's move will do little to fix a lack of spending power, economists say.
-
Economic Slowdown "Very Worrisome", New Reforms Needed, Says Raghuram Rajan
Former RBI Governor Raghuram Rajan has called slowdown in the economy "very worrisome". The government needs to fix the immediate problems in power and non-bank financial sectors and come out with a new set of reforms to energise private sector to invest, he said.
-
Atanu Chakraborty Appointed Economic Affairs Secretary, Replaces SC Garg
The government has appointed Atanu Chakraborty as the new economic affairs secretary, a coveted position in the finance ministry, a statement late on Wednesday said.
