Lok Sabha Passes Bill To Bring Cooperative Banks Under RBI to control interests

Thursday, September 17th, 2020

New Delhi: The Lok Sabha on Wednesday passed an amendment to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI. The decision made to control huge interest on loans and to protect the interest of depositors, The Banking Regulation (Amendment) Bill, 2020 replaces an ordinance that was issued on June […]

Banks extends loan moratorium till August, RBI cuts repo rate by 40 bps

Friday, May 22nd, 2020

Mumbai : The Reserve Bank has further reduced the key interest rate or the repo rate on Friday, yet again calling an out of turn meeting of the monetary policy committee as the COVID-19 pandemic continue spread with economic lockdown, albeit with some relaxations, continues. The six member of the MPC reduced the repo rate […]

Yes Bank withdrawals capped at Rs. 50,000, RBI takes over board

Friday, March 6th, 2020

New Delhi : The Reserve Bank of India on Thursday announced it has superseded the Yes Bank Board of Directors for 30 days and has appointed former SBI CFO Prashant Kumar as the bank’s administrator. In line with the provisions of the Banking Regulation Act, the RBI will explore and draw up a scheme in […]

Government giving sector-specific solutions to fight slowdown, says Nirmala Sitharaman

Thursday, October 10th, 2019

Mumbai : Union Finance Minister Nirmala Sitharaman on Thursday said the government is giving sector- specific solutions to fight the slowdown in economic growth. She, however, parried a specific question on whether the government accepts if the country is in the midst of an economic slowdown. India’s GDP expansion has slowed to a six-year low […]

Banks in Dakshina Kannada lagging behind in lending to priority sector

Tuesday, September 25th, 2018

Mangaluru: The poor performance of banks in lending to priority sector in Dakshina Kannada, known as the cradle of banking, in the first quarter of the current financial year came to the fore at a meeting here on Monday. Selvamani R., Chief Executive Officer, of Dakshina Kannada Zilla Panchayat, presided over the meeting. It was […]

RBI moves contrary to national sentiment to revive growth: ASSOCHAM

Thursday, October 5th, 2017

Mangaluru: The Reserve Bank should have taken a bold move and cut the policy interest to boost growth as the inflation level is still well within control , said ASSOCHAM President Sandeep Jajodia. “RBI is always faced with dilemma of choosing between growth and inflation, but overall national sentiment at this point of time, is […]

RBI to soon put new Rs 100 banknotes in circulation

Saturday, February 4th, 2017

Mumbai: The Reserve Bank will soon put into circulation new Rs 100 banknotes which will be similar to the design of the ones in Mahatma Gandhi Series-2005. “The Reserve Bank will shortly issue Rs 100 denomination banknotes in the Mahatma Gandhi Series-2005, with the inset letter R in both the number panels, bearing the signature […]

Women protest high rates of interest, micro-finance companies rebut charges

Saturday, January 7th, 2017
Women protest

Hassan: Women are up in arms against the Association of Karnataka Micro-Finance Institutions (AKMI) for charging high rates of interest against loans and for ‘harassing’ them to recover loans. They staged a protest in front of deputy commissioner’s office here on Friday. Representatives of AKMI, however, rebutted the allegations. A large number of women, under […]

Withdrawal limit from ATM hiked to Rs 4,500/day from Jan 1

Saturday, December 31st, 2016

Mumbai: In a relief to common man, the Reserve Bank tonight said cash withdrawal limit from ATMs will be increased to Rs 4,500 per day from the current Rs 2,500 from January 1. However, there has been no change in the weekly withdrawal limit, which stands at Rs 24,000, including from ATM, for individuals (Rs […]

Now you can get Rs 100, Rs 500 currency notes in most ATMs of Mangaluru

Wednesday, December 28th, 2016

Mangaluru: Currency notes in the denomination of Rs 100 and Rs 500 have started to flowing from most of the ATMs located in Mangaluru and Udupi. Also, almost all ATMs have started their operation as the quantity of currency notes arrival began to rise. There was huge scarcity of Rs 100 and Rs 500 notes […]

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