RBI

RBI weighs priority sector lending tag for solar panel manufacturers

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 …

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Penalty on loan accounts: RBI tweaks norms, asks banks not to use levy to boost revenue

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 …

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Interest rate cut can be possible in Q1FY25 but that, too, would be data dependent

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 …

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