A notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for non-compliance with directions issued by the RBI.
16 Jul 2019 9:02 AM

The penalty has been imposed on the bank for non-compliance of income recognition and asset classification (IRAC) norms.

Intaglio printing based identification marks for helping the visually challenged in identification of banknotes denomination are present in the notes of Rs 100 and above.
15 Jul 2019 9:43 AM

RBI has been sensitive to the challenges faced by the visually challenged in conducting their day to day business with Indian banknotes.

The proposed mobile app would be able to identify the denomination of notes of Mahatma Gandhi Series and Mahatma Gandhi (New) series by capturing the image of the notes placed in front of mobile camera, the RBI said while inviting bids from tech firms to develop the app.
14 Jul 2019 7:37 PM

RBI said identification of banknote denomination is key to successful completion of cash transactions by visually impaired persons.

It is these high land costs, brought on by the law of scarcity, that cause properties to become hyper-expensive," he said.
12 Jul 2019 3:59 AM

On Thursday, the RBI released the results of the March 2019 round, along with the summary time series data since March 2015.

Retail inflation rose at an annual rate of 3.20 per cent in June, up from 3.05 per cent in May.
09 Jul 2019 12:00 PM

The fiscal deficit target for this financial year was reduced to 3.3 per cent from 3.4 per cent.

The RBI started purchasing gold in small quantities from December 2017 after a gap of eight years. In November 2009, it had bought 200 tonnes from the IMF.
09 Jul 2019 1:38 AM

The RBI started purchasing gold in small quantities from December 2017 after a gap of eight years.

The company could not be reached for comment on the PNB statement. (Photo: File | PTI)
08 Jul 2019 8:46 AM

PNB has been defrauded of over USD 2 billion in a separate scam that came to light last year.

The reserves nearing USD 428 billion can take care of imports for almost 10 months, according to market experts. (Representational Image)
05 Jul 2019 7:46 PM

In the previous reporting week, the reserves had surged by USD 4.215 billion to USD 426.42 billion.

Govt will provide a one-time partial credit guarantee to PSBs to buy high-rated pooled assets of financially sound NBFCs.
05 Jul 2019 3:07 PM

The NBFC sector is currently undergoing a liquidity hurdle with a spate of defaults of companies.

Former RBI Governor Urjit Patel.
04 Jul 2019 1:38 PM

Patel said an asset quality review for the NBFCs is ‘inevitable’ given their interconnectedness in financial system.

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