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Economy

RBI pushes loans against gold to 90% of value amid COVID crisis

There was expectation that the RBI will cut the repo rate, at which it lends funds to banks. This was the 24th meeting of the MPC

Categories
Economy

RBI wants govt to cut its stake in PSU banks to 26%

Several government committees and the RBI have recommended that India should have not more than five state-owned banks

Categories
Economy

RBI: 5 dynamic shifts can repair renew economy

On agricultural transformation, RBI governor Das suggested a change in agriculture policy focus from minimum support price (MSP)

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Economy

1,540 cooperative banks to be brought under RBI supervision

New dispensation, the appointment of CEOs in such cooperative banks will now require prior approval from the regulatory authority- the RBI

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Economy

RBI revises rules for housing finance cos to strengthen their capital base

The RBI draft said that they would be split into systemically important and non-systemically important companies on the lines of NBFCs

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Business

SBI gives COVID relief to customers: No EMI for 3 months

‘Responding to RBI’s extraordinary monetary policy measures to support the wider economy, SBI passes on the entire 75 bps repo rate cut to its borrowers’

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Economy

RBI pushes fiscal year-end to June to match govt accounting

The RBI financial year 2019-20 will end on 30 June this year while the fiscal year 2020-21 will begin on 1 July and end on 31 March 2021

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Business

Moratorium on withdrawal ends; Yes Bank resumes all customer services

The government notification issued last Saturday said that this moratorium on Yes Bank customers would end at 6 PM on 18 March and it did

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Business

Yes Bank stocks rise 1,000%; investors make beeline

Seeing the stocks of Yes Bank rebound and investors take a renewed interest in the bank following the cue from SBI, the finance ministry and RBI may well take a bow

Categories
Business

Yes Bank now a property of SBI and several private banks

Yes Bank has allocated 1,000 crore of its equity shares to seven banks including the SBI, the total value of which is Rs 10,000 crore