RBI raises limit of individual housing loans provided by cooperative banks

June 8, 2022 8:20 PM

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RBI raises limit of individual housing loans provided by cooperative banks

The Reserve Bank of India has increased the existing limits on individual housing loans that can be extended by cooperative banks. In a statement, RBI informed that limits for Primary (Urban) Co-operative Banks - UCBs have been doubled for Tier I cities from 30 to 60 lakh and from 70 lakh to 1.40 crore rupees in case of Tier II cities. For Rural Cooperative Banks with assessed net worth less than 100 crore rupees, the limit has been increased from 20 to 50 lakhs while for the remaining RCBs, the...

RBI approves transfer of Rs 30,307 crore as surplus to Central Government for 2021-22

May 20, 2022 7:44 PM

RBI approves transfer of Rs 30,307 crore as surplus to Central Government for 2021-22

The Reserve Bank of India has approved the transfer of 30,307 crore rupees as surplus to the Central Government for the accounting year 2021-22. According to an official press release, the 596th Meeting of the Central Board of Directors of Reserve Bank of India was held in Mumbai today under the Chairmanship of Governor Shaktikanta Das, wherein the board approved the Annual Report and accounts of the Reserve Bank for the said year. Besides discussing the current economic situation, global and do...

Permission to new private banks for conducting govt-related business will be given under RBI guidelines

March 16, 2021 8:03 PM

Permission to new private banks for conducting govt-related business will be given under RBI guidelines

Finance Minister Nirmala Sitharaman has said that permission to new private banks for conducting government-related business will be given under the RBI guidelines. Ms. Sitharaman, during the Question Hour in the Rajya Sabha today, said the government has now only indicated the RBI to allow other private banks to perform government-related business to ensure there is a level playing field. She further informed that the existing norms under which several private banks have already been given perm...

Direct investment into country rises by 19 billion US dollar: RBI

June 30, 2020 10:18 PM

Direct investment into country rises by 19 billion US dollar: RBI

Reserve Bank of India today said, direct investment into the country rose by 19 billion US dollar while portfolio investment declined by 13.7 billion dollar during 2019-20. According  to the data on the International Investment Position,IIP released by RBI today stated that international financial assets of Indian residents increased by 73.9 billion dollar due to the rise in reserve assets and overseas direct investment by 64.9 billion dollar and 13.0 billion dollar, respectively. It said that t...

RBI announces US dollar sell/buy swap to provide liquidity to foreign exchange market

March 12, 2020 6:50 PM

RBI announces US dollar sell/buy swap to provide liquidity to foreign exchange market

Observing mismatch in US dollar liquidity across the world, the Reserve Bank has announced a six month US dollar sell/buy swap to provide liquidity to the foreign exchange market. In a statement issued from Mumbai today, RBI said, the first swap worth two billion US dollars will be conducted on Monday. RBI has said that financial markets are facing intense selling pressures due to coronavirus infection. It said that volatility in global markets has been spiked by a slump in international crude p...

RBI assures safety of bank deposits in wake of Yes Bank crisis

March 9, 2020 2:36 PM

RBI assures safety of bank deposits in wake of Yes Bank crisis

The Reserve Bank of India (RBI) has assured depositors that there is no concern regarding the safety of their deposits in any bank. The Reserve Bank of India said in a tweet yesterday that as Yes bank's financial matter came up, a concern raised in certain sections of media about the safety of deposits of certain banks. This concern was based on analysis which is flawed. The RBI stated that the solvency of banks is internationally based on Capital to Risk Weighted Assets Ratio (CRAR) an...