(New Delhi)RBI Cut Lending Rate :FM Asks to Transmit Quickly
Finance Minister Nirmala Sitharaman on Friday asked banks for “quick transmission” of slashed interest rate as the RBI cut the key lending rate sharply by 75 basis points to boost liquidity in financial system to deal with the COVID-19 pandemic.
In a tweet, the Finance Minister also welcomed RBI Governor Shaktikanta Das’ statement that the macro economic fundamentals of the Indian economy are sound, and in fact stronger than what they were in the aftermath of the global financial crisis of 2008-09.
The three-month moratorium on payments of term loan instalments (EMI) and interest on working capital give much-desired relief, she added.
Besides other measures to help the economy facing lockdown, the RBI announced steps to release primary liquidity of Rs 1,37,000 crore in the banking system and reduced cash reserve ratio (CRR) by 100 basis points with effect from March 28 for one year.
(नईदिल्ली) #आरबीआई ना तो सोना बेच रही और ना ही खरीद रही है
वित्त राज्य मंत्री अनुराग ठाकुर ने राज्यसभा को एक प्रश्न के लिखित उत्तर में बताया ‘‘आरबीआई ने सूचित किया है कि वह अपनी स्वर्ण आरक्षित निधि को न तो बेच रहा है और न ही उसका व्यापार कर रहा है।’’
ठाकुर ने बताया ‘‘आरबीआई ने यह भी सूचना दी है कि उसने 5.1 अरब डॉलर का सोना नहीं खरीदा और अपनी आरक्षित स्वर्ण निधि से 1.15 अरब डालर का सोना नहीं बेचा है।’’
(Mumbai) The Reserve Bank (RBI) cut its key rates by 0.25 %
RBI cut its estimate of economic growth in the current fiscal to 6.1 % from its earlier estimate of 6.9 %
The repo rate, at which it lends to the system, has been brought down to 5.15 % to help reduce borrowing costs for home and auto loans, which are now directly linked to this benchmark.
This is the fifth straight cut in rates by the Reserve Bank in its key rates in as much policy reviews in 2019, and takes the total quantum of reductions to 1.35%
[Mumbai]PNB Posts Largest Ever Quarterly Loss @ Rs 13416.91 Cr .
Nirav Modi has Carried out Fraud @ Rs 14357 Cr from this Bank .
PNB’s Senior Officers are Being Scanned by Various Departments.
The Punjab National Bank [PNB]today posted largest ever quarterly loss of Rs 13,416.91 crore for January-March period, mainly on account of high provisioning for bad loans.
It had reported stand alone profit of Rs 261.90 crore in the fourth quarter of 2016-17.
The total income for the fourth quarter also declined to Rs 12,945.68 crore, from Rs 14,989.33 crore in the year-ago period.
The Reserve Bank has permitted PNB to make provisions against the fraud amount.
The filing further said that the bank has made higher than required provisions amounting to Rs 7,178.42 crore.
The remaining provision of Rs 7,178.42 crore will be made during the first three quarters of the ensuing financial year.
[New Delhi]RBI Rejects EC’s Plea for Raising Cash-Withdrawal Limit for Candidates.At present Candidate can withdraw Rs 96K Whereas Expenditure limit is Rs 20-28 Lakh
The Reserve Bank of India (RBI) has rejected the request of the Election Commission to enhance the weekly cash-withdrawal limit, imposed after demonetisation, for those contesting Assembly elections in five states, prompting an angry reaction from the poll panel.
The Commission had on Wednesday requested RBI to enhance the withdrawal limit of candidates to Rs 2 lakh from Rs 24,000 per week imposed post demonetisation as the nominees would find it difficult to meet their campaign expenditure.
But RBI said that it was not possible for it to hike the limit at this stage.
An apparently peeved Commission has now written back to RBI Governor Urjit Patel expressing “serious concern about the cursory manner in which the issue has been dealt with”.
The EC said the facility be extended till March 11, the day of counting. Candidates are bound to open an election account for meeting poll-related expenditure which is monitored by the EC.
The Commission said that with a weekly withdrawal limit of Rs 24,000, a candidate would be able to withdraw Rs 96,000 in cash during the election process which lasts three to four weeks.
It reminded the central bank that as per law, candidates contesting Assembly polls in Uttar Pradesh, Uttarakhand and Punjab can spend Rs 28 lakh each for electioneering.
The limit in Goa and Manipur is Rs 20 lakh each. The poll panel said despite paying amounts through cheques, candidates still need hard cash for petty expenses. Also the issue is further adversely effected in rural areas where banking facilities are negligible.
[Mumbai]Indian Rupee And Stock Market Crashes
Sensex, Nifty tumble over 3 % as global equity rout deepens.Stock Market Wealth Crashes Below Rs 100-Trillion Mark
Whereas Indian Rupee Crashes to 66.49 Against Dollar, Plunges by 66 paise But RBI Governor Rajan says rupee has strengthened against yen+euro.He Also Assured That RBI has Resources to deal with Rupee Volatility.
The total investor wealth crashed below the Rs 100 lakh crore mark today while wiping out more than Rs two lakh crore worth valuation within minutes after the day’s trading began.
Listed stocks, fell to Rs 99.15 lakh crore this morning from Rs 102.33 lakh crore at the end of last trading session on Friday.
The investor wealth stood below Rs 100 lakh crore last on June 18, while this milestone was first achieved in November 2014.
The BSE benchmark Sensex crashed by over 1,000 points in intra-day trade amid widespread selling pressure.
When the total market valuation of all listed firms at the BSE first hit Rs 100 trillion on November 28, 2014, it marked ten-times rise in little over a decade.
BSE is among the world’s ten largest exchanges in terms of market value, while it is the largest globally for number of firms listed on its platform. It has over 4,000 actively traded companies and nearly 2.7 crore investors trade on it.
The total market cap is still nearly double the level of about Rs 50 lakh crore in 2009, while it is still about ten-times of the Rs 10 lakh crore level scaled in 2003.
[New Delhi,Mumbai]PM,Today,Inspired Bankers To Join Campaign of “Give it Up”And Surrender LPG Subsidy For Nation Building
PM Narendra Modi Was speaking at the 80th annual day of R B I
.PM Said that well off should come forward and voluntarily surrender subsidy on LPG Which would be allotted to poor
PM Informed the gathering that 2 Lakhs Consumers have Voluntarily surrendered LPG Subsidy.
Tata Group chairman Cyrus Mistry has already endorsed PMO INDIA CAMPAIGN of GIVE IT UP
The Minister of State ( I/C) for petroleum and natural gas, Shri Dharmendra Pradhan, today complimented Cyrus Mistry for the initiative by which employees will forego the LPG subsidy component and the amount will be re-deployed towards nation building.
[नई दिल्ली ]एटीएम के माध्यम से बैंकिंग ट्रांज़ैक्शन आज से महंगी हो गई|
बार-बार पैसे या मिनी स्टेटमेंट आदि निकालना आज १ नवंबर से महंगा हो गया |बेशक ऐ टी एम की दशा सुधरी हो या ना सुधरी हो मगर ऐ टी एम महंगा कर जरूर दिया गया है|
केंद्रीय रिजर्व बैंक (RBI) के निर्देशानुसार अपने बैंक के ऐ टी एम से केवल पांच बार और किसी दूसरे बैंक के ऐ टी एम से केवल तीन बार ही निशुल्क पैसा या स्टेटमेंट निकाला जा सकेगा इससे पूर्व यह सुविधा पांच बार निकासी तक उपलब्ध थी |इससे ज्यादा प्रत्येक निकासी पर खाताधारकों को 20 /=का दंड स्वरुप शुल्क देना होगा।
दिल्ली+मुंबई+कोलकाता+चेन्नई+बेंगलुरु+हैदराबाद में आज १ नवम्बर से यह निर्देश लागू हो जाएंगे।मार्च 2014 के आंकड़ों के मुताबिक भारत में बैंक के डेढ़ लाख से अधिक एटीएम हैं।
शेष भारत में एटीएम इस्तेमाल करने के नियम पहले की तरह ही रहेंगे ।