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Reserve Bank caps withdrawal limit for Yes Bank to ₹50,000

The Reserve Bank of India (RBI) on Thursday imposed a moratorium on troubled Yes Bank and capped withdrawals at Rs 50,000 as the private sector lender has been grappling with mounting bad loans. A statement said that the RBI has superseded the board of Yes Bank with immediate effect, appointing former State Bank of India […]

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Supreme Court lifts RBI ban on trading in cryptocurrency

The Supreme Court on Wednesday lifted the ban imposed by the Reserve Bank of India (RBI) on trading in cryptocurrency such as the Bitcoin. The development came as a major relief for the sector, as the RBI ban restricted lenders from facilitating banking transactions for cryptocurrency exchanges and traders. The top court’s order followed a […]

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Business

RBI lowers GDP outlook to 6.1% and cuts repo rate by 25 bps

The Reserve Bank of India’s Monetary Policy Committee (MPC) once again slashed key repo rate by 25 basis points. This is the fifth time that the committee revised the repo rate this year. The repo rate or the rate at which RBI lends to banks has been revised to 5.15 per cent from 5.40 per […]

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Business

Loans/EMIs To Get Cheaper As RBI Cuts Repo Rate

To surprise everyone the Reserve Bank of India today reduced the repo rates by 25 basis points or .25 percent. The RBI last lowered the repo rate in August 2017, and also the RBI changed its policy stance to neutral from tightening. The new repo rate was approved 4-2, this  move will cheer home and […]

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New RBI Governor Shaktikanta Das Executed DeMo & GST

Shaktikanta Das was appointed the new governor of the Reserve Bank of India (RBI) by the Government of India. Mr. Das was appointed for a period of 3 years. Shaktikanta Das served as the economic affairs secretary and is believed to be the key man behind the planning and execution of the demonetisation . He was the face […]

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RBI Governor Urjit Patel resigns

Reserve Bank of India Governor Urjit Patel resigns, cites “personal reasons”. This comes days after an unprecedented face-off with the Government of India. The RBI Governor’s office issued a statement – On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour […]

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Urjit Patel to be sacked?

The term of Reserve Bank of India Governor Urjit Patel is set to end in September next year. The Government is likely to sack him much before his term ends. The Government has faced a lot of slack after demonetisation Nov 8, 2016. The parliamentary panel has asked the governor to appear for the 3rd […]