Citigroup isn’t the only foreign bank struggling in India, a closer look at the country’s banking ecosystem reveals.
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on Bandhan Bank Limited. RBI stated that this action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank.
The six-member monetary policy committee (MPC) headed by Governor Shaktikanta Das announced the decision after a three-day meeting. GDP growth slumped lower to 5% in the April to June quarter as against a 8% in the year-ago period. The Reserve…
India’s current account deficit (CAD) narrowed to 14.3 billion dollars or two per cent of the gross domestic product (GDP) during April to June, data released by the Reserve Bank of India showed.
On Friday, September 28, shares of Laxmi Vilas Bank closed 4.94% lower at Rs 36.55 a piece after the bank said that Economic Offences Wing of Delhi Police has registered a first information report (FIR) against its directors of the board.
While addressing a press conference in Hyderabad on August 27, All India Majlis-e-Ittehad-ul-Muslimeen (AIMIM) president Asaduddin Owaisi said, ‘Modi government is the first government which is taking about 99.99% profit of the Reserve Bank of India (RBI) and prior to this, no other government took this much profit percentage of RBI.’
A day after the Central Board of the Reserve Bank of India (RBI) approved the transfer of Rs 1,76,051 crore to Centre, Congress leader Rahul Gandhi
Domestic bond markets have rallied sharply on account of rate softening by RBI as well as a rate cut by the US Fed. India’s sovereign bond yield recently dipped to a 10-year low. In bond markets, Bond prices and yields…
More government-owned banks have announced linking their lending and deposit rates to the Reserve Bank of India’s (RBI’s) repo for facilitating faster transmission after the State Bank of India did so in May.