Tag Archives: RBI

No Need To Be Anxious, Enough Cash Available: RBI

Mumbai: The Reserve Bank of India on Sunday said enough cash is available at banks and people need not be anxious and make repeated trips to branches and ATMs to hoard money. “The Reserve Bank assures members of the public that enough cash in small denominations is also available at the Reserve Bank and banks.” “The Reserve Bank urges that ... Read More »

Furnish Daily Data On Cash Withdrawals: RBI To Banks

The RBI has asked banks to submit the data in a specific format. Mumbai: The Reserve Bank of India (RBI) asked banks to submit daily amounts of cash withdrawn from over the counter as well as through automated teller machines to help it gather accurate data on the circulation of currency. In a circular on Sunday, it asked banks to ... Read More »

RBI To Make Funds Transfer Via Smartphones Easier

Hyderabad: The Reserve Bank of India (RBI) on Monday said it will become easier in the coming weeks for people to transfer funds between bank accounts through their smartphones. Speaking at the IDRBT Banking Technology Excellence Awards function, RBI Governor Raghuram Rajan also made a case for tax benefits to merchants for promoting digital transactions. Leveraging the high mobile density, ... Read More »

RBI Pores Over Budget, Worries on Fiscal Math: Report

Mumbai: Some Reserve Bank of India (RBI) officials are worried that a populist Budget could put the onus of driving growth on them but limit their ability to respond through big rate cuts this year. Finance Minister Arun Jaitley increased spending on farm and social sectors in the 2016-17 fiscal year on Monday in a boost to rural India, where ... Read More »

RBI Eases Rules on What Lenders Can Count as Basel III Capital

Mumbai: The Reserve Bank of India on Tuesday said it would ease rules on what lenders can count towards their core capital requirements under upcoming Basel III rules, in moves intended to ease pressure on the cash-constrained sector. Government had estimated last year that lenders would need to raise about $17 billion from markets over four years to meet total ... Read More »