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MONETARY POLICY COMMITTEE AGREES ON NO RATE CUT

Come December the RBI monetary committee will come out with its next policy details.  The MPC (Monetary Policy Committee) Panel which is vested with the task of setting the regulator’s rates, has been unanimous in its decision that the REPO rate should be kept unchanged which stayed at 6.25 per cent. During a meeting on

MONETARY POLICY COMMITTEE AGREES ON NO RATE CUT

Come December the RBI monetary committee will come out with its next policy details.  The MPC (Monetary Policy Committee) Panel which is vested with the task of setting the regulator’s rates, has been unanimous in its decision that the REPO rate should be kept unchanged which stayed at 6.25 per cent. During a meeting on

RBI allows banks to park old currency at district chests

BE/RBI/36/2016 To unblock the storage facility of banks with the old Rs. 500 and 1000 notes, RBI has now permitted the lenders to park such currencies at the currency chest at the district level keeping in view the mounting deposits.  RBI further clarified that the Currency Chest, which is operating at the point shall be

RBI allows banks to park old currency at district chests

BE/RBI/36/2016 To unblock the storage facility of banks with the old Rs. 500 and 1000 notes, RBI has now permitted the lenders to park such currencies at the currency chest at the district level keeping in view the mounting deposits.  RBI further clarified that the Currency Chest, which is operating at the point shall be

RBI to ease genuine pain of citizens: Patel

BE/RBI/35/2016 The Reserve Bank of India (RBI) Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking necessary action to “ease the genuine pain of citizens”, and would be putting things in place as soon as possible. Patel also informed that RBI has announced an incremental

RBI to ease genuine pain of citizens: Patel

BE/RBI/35/2016 The Reserve Bank of India (RBI) Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking necessary action to “ease the genuine pain of citizens”, and would be putting things in place as soon as possible. Patel also informed that RBI has announced an incremental

RBI opens vaults for banks to keep old notes

BE/RBI/34/2016 Now that the bank currency chests are over flowing with old, banned notes, the Reserve Bank of India (RBI) informs that these specified bank notes (SBN) could be deposited at their offices. RBI has further added that these SBNs will remain in the vaults of RBI offices under whose jurisdiction they are located, under

RBI opens vaults for banks to keep old notes

BE/RBI/34/2016 Now that the bank currency chests are over flowing with old, banned notes, the Reserve Bank of India (RBI) informs that these specified bank notes (SBN) could be deposited at their offices. RBI has further added that these SBNs will remain in the vaults of RBI offices under whose jurisdiction they are located, under

RBI announces total withdrawal of Rs. 5,44,571 crore post demonetisation

BE/RBI/33/2016 Giving heed to the problems faced by the common man, after demonetisation of 500 and 1000 rupee notes by the Indian Government, the Reserve Bank of India (RBI) has come out with various measures and adds that total exchange and deposits effected from November 10, 2016 till November 18, 2016 amounted to Rs. 5,44,571

RBI announces total withdrawal of Rs. 5,44,571 crore post demonetisation

BE/RBI/33/2016 Giving heed to the problems faced by the common man, after demonetisation of 500 and 1000 rupee notes by the Indian Government, the Reserve Bank of India (RBI) has come out with various measures and adds that total exchange and deposits effected from November 10, 2016 till November 18, 2016 amounted to Rs. 5,44,571