Significant changes suggested in role and operations of DFIs Sweeping changes proposed with regard to State-level Institutions Enabling changes proposed in regulatory/supervisory framework Substantive content of harmonisation between DFIs and Banks spelt out The Summary Recommendations of the Report of the Working Group for Harmonising the Role and Operations of DFIs and Banks was submitted by Shri S.H. Khan, CMD, IDBI and Chairman of the Working Group to the Governor

The Reserve Bank of India has reduced the Bank Rate by one half of one percentage point, i.e. from `10.5 per cent per annum' to `10.0 per cent per annum' with effect from the close of business on April 2, 1998. (Alpana Killawala) General Manager Press Release : 1997-98/923

The Reserve Bank of India has decided to reduce the cash reserve ratio (CRR) by 0.50 percentage point in two phases. Consequently, the CRR stipulation which is currently at 10.5 per cent will be reduced to 10.0 per cent in two phases of 0.25 percentage point each effective March 28 and April 11, 1998. (Alpana Killawala) General Manager Press Release : 1997-98/876 Cash Reserve Ratio Under Section 42(1) of the Reserve Bank of India Act, 1934, all scheduled commercial ba

The Reserve Bank of India today announced constitution of a Working Group with a view to harmonising the role and operations of development finance institutions (DFIs) and banks. Headed by Shri S.H. Khan, Chairman & Managing Director, Industrial Development Bank of India, the Working Group will have the following terms of reference: <ol type=i> To review the role, structure and operations of DFIs and commercial banks in emerging operating environment and to

Shri S.P. Talwar, Deputy Governor, RBI met CMDs and Senior Officials of leading public sector banks today at Mumbai to discuss the prevailing situation in the credit dispensation by the banks to the commercial sector. At the outset he mentioned that the recent measures announced by the Reserve Bank keeping in view the prevailing situation in finance and forex markets were temporary and that they should not come in the way of flow of credit to the commercial sector. Re

On a review of monetary and credit developments since the announcement of the Monetary and Credit Policy in April 1997, the Reserve Bank of India has today decided to reduce the Bank Rate. With effect from the close of business today (June 25, 1997), the Bank Rate will be reduced by one percentage point, i.e., from the present level of 11 per cent per annum to 10 per cent per annum. The interest rates on domestic term deposits for maturity of 30 days and up to one yea

According to the data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last Friday of December 1996 collected through the BSR-7 returns, the top 100 centres arranged according to the size of deposits accounted for 59.0 per cent of the total deposits. Similarly, the top 100 centres arranged according to the size of bank credit constituted 71.6 per cent of the total bank credit. Nationalised banks as a group contributed 55.1 per cent o

The Reserve Bank of India, in exercise of the powers vested in it under sub-section (4) of Section 45K of the Reserve Bank of India Act, 1934, has prohibited the Chancellor Housing Development Finance & Investment (I) Ltd., Registered Office at Nutan Bazar, P.O. Dhubulia, Dist. Nadia, West Bengal,</b> from accepting deposits from any person including the existing depositors/certificate holders, in any form, whether by way of subscription/instalment to any sc

According to the data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last friday of September 1996 collected through the BSR-7 quarterly returns, the top hundred centres arranged according to the size of deposits accounted for 58.8 per cent of the total deposits. Similarly, the top hundred centres arranged according to the size of bank credit constituted 71.5 per cent of the total bank credit. Nationalised banks as a group contribu

With a view to providing institutional mechanisms for promoting rural savings as well as for the provision of credit for viable economic activities in the local areas, it has been decided to allow the establishment of new local banks in the private sector. This is expected to bridge the gaps in credit availability and enhance the institutional credit framework in the rural and semi-urban areas. The following are the guidelines for establishment of the new local banks:

For well over two decades, after the nationalisation of 14 larger banks in 1969, no banks have been allowed to be set up in the private sector. Progressively, over this period, public sector banks have expanded their branch network considerably and catered to the socio-economic needs of large masses of the population, especially the weaker section and those in the rural areas. The public sector banks now have 91 per cent of the total bank branches and handle 85 per ce

Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) for the month of August 2023. Highlights: Lending Rates: The weighted average lending rate (WALR) on fresh rupee loans of SCBs increased by 24 basis points (bps) from 9.20 per cent in June 2023 to 9.44 per cent in July 2023. The WALR on outstanding rupee loans of SCBs increased by 2 bps from 9.82 per cent in June 2023 to 9.84 per cent in July

The Financial Action Task Force (FATF) vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ – June 2023, has called on its members and other jurisdictions to refer to the statement on Democratic People’s Republic of Korea (DPRK) and Iran adopted in February 2020 which remains in effect. Further, Myanmar was added to the list of High-Risk Jurisdictions subject to a Call for Action under in the October 2022 FATF plenary and FATF has called on its

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs, SFBs and PBs) ALL SCHEDULED BANKS 12-Aug-22 28-JUL-2023* 11-AUG-2023* 12-Aug-22 28-JUL-2023* 11-AUG-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 187492.79 246865.38 254214.15 190678.67 249123.92 256414.72** b) Borrowings from banks 48045.25 193269.49 189512.15 48089.64 193383.5 189598.83 c) Other demand & time liabilities 42642.13 64799.34 66123.47 43166.1 65498.22

The Governor, Reserve Bank of India today launched a Centralised Web Portal उद्गम UDGAM (Unclaimed Deposits – Gateway to Access inforMation). This portal has been developed by RBI for use by members of public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place. The Reserve Bank of India had announced the development of a centralised web portal for searching unclaimed deposits as part of the Statement on Devel

(Amount in ₹ Crore) SCHEDULED COMMERCIAL BANKS (Including RRBs, SFBs and PBs) ALL SCHEDULED BANKS 29-Jul-22 14-JUL-2023* 28-JUL-2023* 29-Jul-22 14-JUL-2023* 28-JUL-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 186515.78 245861.47 246865.38 189749.92 248180.98 249123.92** b) Borrowings from banks 44372.25 196330.06 193317.75 44571.36 196446.92 193431.76 c) Other demand & time liabilities 42424.95 63687.25 64791.75 42937.1 64379.6

Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) for the month of July 2023. Highlights: Lending Rates: The weighted average lending rate (WALR) on fresh rupee loans of SCBs decreased by 7 basis points (bps) from 9.27 per cent in May 2023 to 9.20 per cent in June 2023. The WALR on outstanding rupee loans of SCBs increased by 4 bps from 9.78 per cent in May 2023 to 9.82 per cent in June 2023

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs, SFBs and PBs) ALL SCHEDULED BANKS 15-Jul-22 30-JUN-2023* 14-JUL-2023* 15-Jul-22 30-JUN-2023* 14-JUL-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 186227.53 257612.63 245853.35 189496.84 260024.58 248172.86** b) Borrowings from banks 61405.6 39739.1 162153.06 61413.6 39869 162269.92 c) Other demand & time liabilities 41115.41 61504.47 63688.56 41833.48 62178.02 64380

The Reserve Bank of India (RBI) and the Central Bank of UAE (CBUAE) signed two MoUs today in Abu Dhabi for (i) establishing a Framework to Promote the Use of Local Currencies viz. the Indian rupee (INR) and the UAE Dirham (AED) for cross-border transactions; and (ii) cooperation for interlinking their payment and messaging systems. The MoUs were signed by the Governor of the Reserve Bank of India, Shri Shaktikanta Das and the Governor of the Central Bank of UAE, H.E.

(Amount in Crore of ₹) SCHEDULED COMMERCIAL BANKS(Including RRBs and SFBs) ALL SCHEDULED BANKS 01-Jul-22 16-JUN-2023* 30-JUN-2023* 01-Jul-22 16-JUN-2023* 30-JUN-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 193544.46 244966.08 263210.19 196881.82 247408.54 265622.14** b) Borrowings from banks 69209.06 39769.91 39666.57 69298.08 39846.03 39796.47 c) Other demand & time liabilities 39660.73 61063.19 61850.28 40160.42 61719.32 6252