- Finance and MarketsExchange old notes: RBI announces special facility for NRIs
For those who were not in India when banks were exchanging the old currency notes with the new one, RBI has announced a special facility to keep the process easy and hassle-free.
Finance and MarketsNSE files paper for Rs 10,000 cr mega IPOLeading bourse NSE Wednesday filed draft papers with market regulator Sebi for its much-awaited IPO, expected to be one of the biggest in recent times with an estimated size of over Rs 10,000 crore.
Finance and MarketsIllegal exchange of old currency: Two RBI officials nabbed by CBIIn connection with illegal exchange of old currency notes with the new one, CBI on Saturday arrested two RBI senior officials for allegedly converting Rs 1.99 crore of demonetised currency with specified bank notes of Rs 2,000 and Rs 100.
Finance and Markets80 per cent of old currency notes back in bank, claims RBIPost demonetisation, the banks have received over 12.44 trillion rupees or $184.24 billion in old Rs 500 and Rs 1000 currency notes till December 10, claimed Reserve Bank of India.
Finance and MarketsNew RBI guidelines: This is how withdrawal limit can be extended to unlimitedAnother guideline has been added by Reserve Bank of India to ease out complexities post demonetisation move by Government. But, it seems like common man will be more confused with the new announcement as a lot of maths will be indulged before withdrawing funds from your bank account.
Finance and MarketsReserve Bank of India plays googly with banks, common man to sufferDemonetisation - a great move to cure black money funded economy. Now, when nearly 8 lakh crores have been flooded into the banks, the hopes were to enjoy low EMIs and better interest rates on savings. Wait! It is not happening anytime soon; instead get ready to face less interest rate on your savings with the banks.
Finance and MarketsSBI plummets 99.6 pc plunge in consolidated net profit in Q2Country's largest lender State Bank of India recorded 99.6 pc plunge in consolidated net profit at Rs 20.7 crore for the September quarter on account of 3-fold jump in bad loan provisioning
Finance and MarketsDebit card security breach hampers India's cashless economy futureIn India, people prefer to pay by cash as cashless payments don’t seem secure enough. Prime Minister Narendra Modi had been pitching people to do digital transactions. In a country where 98% transactions are done by case, Debit cards and their password getting compromised in like hitting the nail in coffin.
Finance and MarketsHome loans to get cheaper as RBI cuts repo rateInterest on home loans is all set to fall as the new RBI governor Urjit Patel has announced a cut of 25 bps in repo rates. Giving a thumping start to his new role, Urjit Patel tried to woo retail buyers while he kept the Cash Reserve Ratio (CRR) unchanged.