Reserve Bank of India (RBI)
Reddy, Kelkar in race for RBI top job
The Economic Times reports that a two-horse race is developing for the top job at the Reserve Bank of India if current governor Bimal Jalan moves into politics.
RBI to get real time settlement system by year-end
Business Line reports that Vepa Kamesam, Deputy Governor of the Reserve Bank of India has said India's much awaited 'real time gross settlement system' will become operational before the end of the year.
RBI deputy governor Kamesam gets 3-month extension
Reserve Bank of India deputy governor Vepa Kamesam's term has been extended to the end of September, according to a report by Business Standard. His two-year term was due to end in the last week of June.
RBI ED quits over Udeshi's elevation
After the appointment of KJ Udeshi as the first woman deputy governor of the Reserve Bank of India, the executive director of the RBI, KL Khetrapal resigned from his post, according to the Economic Times. Sources said Mr Khetrapal was unwilling to report…
RBI's Jalan hails India's monetary policy
Despite drought and the global economic slowdown India's economy remains fast growing with its monetary liberalisation policy being adopted by other nations in the Asian region, Reserve Bank of India Governor Bimal Jalan said, according to a report by…
Indian gov't considering fourth RBI dep governor
A fourth deputy governor's position could be created at the Reserve Bank of India. According to Business Standard, a senior finance ministry official said the position would carry the responsibility of regulating co-operative banks.
RBI issues risk management guidelines
In its guidelines on country risk management, the Reserve Bank of India has asked banks to address issues of identifying, measuring, monitoring and controlling country exposure risks in their country risk management policies.
RBI installs cutting-edge currency machines
The Reserve Bank of India (RBI) governor Bimal Jalan on Wednesday inaugurated the currency verification and processing system (CVPS) in RBI's Mumbai office. The system is part of the central bank's drive to weed out currency notes and replace them with…
Indian banks in a fix over 'no staples' policy
The Reserve Bank of India's recent decision to do away with stapling of new currency notes to increase the longevity of the notes has come under fire.
Indian bank unveils first mobile ATM
ICICI Bank has taken technology one step further with the launch of its first mobile automated teller machine (ATM). The bank has got the Reserve Bank of India (RBI) approval for the mobile ATM in Punjab. "We have also applied for mobile branch licences…
'Effective micro-finance system needed' in India
INDIA - The Reserve Bank of India has said it plans to put in place a 'more vibrant' micro-finance delivery environment by encouraging complementary and competitive models of micro-finance.
Indian banks cautioned on risks in e-banking
INDIA - The Reserve Bank of India has cautioned Indian banks about the inherent risk factors that accompany the introduction of high-tech electronic delivery system in the banking sector.
RBI forms panel to review WMA scheme
INDIA - The Reserve Bank of India (RBI) will review the ways and means advances (WMA) scheme for states in its entirety. The central bank has constituted an advisory committee for the purpose under the chairmanship of C Ramachandran, ex-expenditure…
Former RBI head proposed for slot on board
INDIA - Former Governor of the Reserve Bank of India (RBI), Mr S. Venkitaramanan's name has been proposed for appointment as a director of Reliance Industries Ltd (RIL) at the ensuing annual general meeting (AGM) of the company.
Polymer notes not now: RBI
INDIA - The Reserve Bank of India has said that there is no immediate plan to introduce polymer or plastic currency notes to replace the existing paper notes.
India's for ex reserves up $500m
INDIA - The country's forex reserves have surged by $500 million to touch $62.521 billion for the week ended September 20, 2002, as compared to $ 62.021 billion in the previous week, figures released by the Reserve Bank of India show.
RBI liberalises exchange control procedures
INDIA - The Reserve Bank of India on Wednesday said banks authorised to deal in foreign exchange may permit importers in India to avail short-term credit for periods less than three years and amount not in excess of $20 million per import transaction…
India's central bank opens note exchange centres
INDIA - The Reserve Bank of India has opened centres for the exchange of soiled notes at its three branches in Mumbai.
Rakesh Mohan takes over as RBI deputy governor
INDIA - India's former chief economic adviser, Rakesh Mohan, on Monday took over as a deputy governor of the Reserve Bank of India (RBI).
RBI to formulate policies to curb money laundering
INDIA - The Reserve Bank of India is in the process of formulating policy, procedures and controls required by banks to check the possible use of the financial system for money laundering and financing of terrorism, according to Mr Vepa Kamesam, Deputy…
RBI Annual Report confident of credit growth
INDIA - The Reserve Bank of India (RBI), in its annual report for 2001-2002 released Friday, has said that the overall stance of the monetary policy for 2002-03 would be on the provision of adequate liquidity to meet credit growth and support investment…
RBI to use post offices for coin distribution
INDIA - The Reserve Bank of India is planning to distribute coins in exchange of currency notes through post offices and even railway counters, the Hindu newspaper reports. The decision is part of its efforts to bridge the gap between excess demand from…
RBI's Jalan says drought not to affect liquidity
INDIA - Reserve Bank of India Governor Bimal Jalan on Monday said the prevailing drought condition in the country would not have any impact on the liquidity or monetary situation.
Indian banks to fortify risk management systems
INDIA - The Reserve Bank of India (RBI) has asked the commercial banks in the country not to depend entirely on the certificates issued by the chartered accountants on the financial health of corporate borrowers.