Budget 2020

SBI customers face glitches just before scheduled downtime

Mumbai: Several customers of (SBI) faced issues processing online transactions hours before its scheduled maintenance outage. The bank, which upgraded its internet banking platform on Thursday, had informed customers about a four-hour maintenance activity although customers faced transaction failures early Thursday. Several customers took to social media to vent their frustration. While a few customers […]

Budget 2020

RBI money policy: EMIs stable, call for tax cut on fuel & other takeaways

NEW DELHI: The Reserve Bank of India on Wednesday tried to strike a conciliatory note by delivering on the expectations and extending an olive branch to bond traders, who had been revolting in the recent past. The Monetary Policy Committee of RBI decided to keep the policy rate unchanged, maintained growth projections, pledged to keep […]

News Headlines

RBI to mandate interoperability among prepaid payments instruments: Shaktikanta Das

Making its displeasure on prepaid payments instruments issuers not adopting interoperability, the Reserve Bank on Wednesday said it will make it mandatory for such companies to make provisions for letting their customers transact with others after doing a full-KYC (know your customer). The central bank also doubled the maximum balance a single account in a […]

Budget 2020

We will be able to manage the bond yields: Shaktikanta Das

Going forward, digital methods are going to play a major role, but the banking sector will continue to remain relevant and banks have a major role to play, said RBI Governor Shaktikanta Das at the Times Network India Economic Conclave 2021 in a Q&A with Nikunj Dalmia. Edited excerpts: While you have alluded to the […]

Budget 2020

Negative yields come to India, as RBI tries to put a leash on short sellers

MUMBAI: The ongoing tussle between the Reserve Bank of India (RBI) and government bond traders has seen a fresh twist. In a historic first for the Indian bond market, the central bank on Friday enabled quotes for negative yields on government securities in the negotiated dealing system – order matching (NDS-OM) to choke short sellers […]

News Headlines

Latest News Live: Motera Ground renamed as Narendra Modi Stadium – The Economic Times

!1 New UpdateClick here for latest updates The capacity of this stadium is 1.32 lakh, making it not only the world’s largest cricket stadium, but also the world’s largest sports stadium. It can host 2 different games on the same day – Amit Shah We have changed the time schedule for the visit of devotees […]

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India confident of keeping 2021/22 borrowing costs below 6% levels: Sources

MUMBAI| NEW DELHI: The Indian government is confident that it can obtain funds for its massive 2021/22 borrowing programme at below 6.0%, as the central bank has given assurances that it will provide ample liquidity, two senior officials told Reuters. Bond yields surged on Friday following the central bank’s policy meeting amid investor concerns about […]

News Headlines

RBI Governor Das’ message to govt: Don’t tinker with my inflation target

Mumbai: The government is soon going to review the inflation target for the Reserve Bank of India’s Monetary Policy Committee for the first time since the target was first set five years ago. There have been media reports that the Centre is considering a proposal to raise MPC’s medium-term inflation target to 5 per cent, […]