The Reserve Bank is toying with the idea of including solar panel manufacturing in the priority sector lending bracket, the Economic Times reported, citing sources familiar with the deliberations. The report also said that the bank is likely to take a decision in the next two-three months. Also Read: India slashes solar imports from China …
RBI weighs priority sector lending tag for solar panel manufacturers Read More »
On August 18, the Reserve Bank of India (RBI) revised the standards for banks imposing penalties on loan accounts due to the borrower’s breach of contractual terms. The central bank said banks could not handle such penalties to increase revenue. The RBI said banks must treat penalties for non-compliance as a “penalty fee” and not …
Penalty on loan accounts: RBI tweaks norms, asks banks not to use levy to boost revenue Read More »
Data from at least three banks shows that a significant portion of the Rs 2,000 note in corporate deposits and exchanges comes from companies, not retail customers. The Reserve Bank of India (RBI) said on August 1 that the Rs 2,000 banknote worth Rs 3.14 lakh, equivalent to 88% in circulation, has returned to the …
Rs 2,000 note withdrawal: Banks see majority notes from businesses Read More »
The RBI MPC (Monetary Policy Committee) left the repo rate unchanged at 6.5% at its August 10 meeting, in line with street expectations. As a result, the Permanent Deposit Facility (SDF) rate will remain unchanged at 6.25% and the Permanent Deposit Facility (MSF) and Bank Rate at 6.75%. MPC continues its stance of ‘withdrawing from …
Interest rate cut can be possible in Q1FY25 but that, too, would be data dependent Read More »
The Reserve Bank of India (RBI) will keep its benchmark interest rate at 6.50% until the end of March 2024, according to a Reuters poll of economists who have pushed downgraded their expectations for the first rate cut in the second quarter of 2024 than expected. first quarter in a June survey. Inflation in Asia’s …
RBI to hold rates at 6.50% through Q1 2024, cut in April-June: Poll Read More »
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