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Mumbai, Apr 8 (PTI) Reserve Bank Governor Sanjay Malhotra on Wednesday announced that the monetary authority will be coming out with a new framework for non-bank lenders amid a lack of clarity over Tata Sons' listing issue. "We are coming up with a new framework for the NBFCs. Very soon, we should," Malhotra told reporters at the customary post-policy review press conference. On a specific question on Tata Sons, Malhotra said the new framework will categorise non-banking finance companies. He ...Read More >
Mumbai, Apr 8 (PTI) Reserve Bank Governor Sanjay Malhotra on Wednesday expressed confidence that interest rates will remain low in the medium to long term, given the benign inflationary conditions. Addressing the media, in a post-monetary policy conference, Malhotra said the Indian economy is very strong, resilient and robust. "We are in a neutral state...possibility either way, any ways cannot be ruled out that low rates (would) continue for a long time," he said. Despite shocks, he said, th ...Read More >
Mumbai, Mar 30 (PTI) The growth in net sales of the select non-government non-financial (NGNF) public limited companies inched up to 7.8 per cent during 2024-25 from 6.3 per cent in the previous year, the RBI said on Monday. The sales growth of the manufacturing and services sector increased to 6.3 per cent and 10.1 per cent, respectively, during 2024-25 from 5 per cent and 7.4 per cent growth recorded in the previous fiscal, according to data on the finances of NGNF public limited companies. ...Read More >
Mumbai, Mar 30 (PTI) The RBI on Monday imposed a Rs 31.8 lakh penalty on Airtel Payments Bank for non-compliance with certain provisions related to disclosure in financial statements. The Reserve Bank of India (RBI) said it had conducted a statutory inspection for supervisory evaluation of the bank with reference to its financial position as of March 31, 2025. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to t ...Read More >
New Delhi, Dec 16 (PTI) The Lok Sabha on Tuesday passed a bill to raise FDI in the insurance sector to 100 per cent, with a view to providing insurance to all by 2047. Replying to a debate on the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, in the Lower House, Finance Minister Nirmala Sitharaman said higher FDI will attract more players in the industry and make insurance policies more affordable. "Monopoly doesn't give us that advantage, and therefore, the more the competi ...Read More >
Mumbai, Oct 1 (PTI) Amid intense speculation over Tata Sons' perceived non-compliance with the RBI's mandate to list, Governor Sanjay Malhotra on Wednesday said an entity can continue to do business till its registration is not cancelled. The central bank had asked a set of entities, including Tata Sons, the holding company of the salt-to-software conglomerate, to list by September 30 this year. In response, Tata Sons had last year applied to surrender its core investment company (CIC) registr ...Read More >
New Delhi, Aug 3 (SocialNews.XYZ) With the income tax return (ITR) filing date extended to September 15, taxpayers have more time to decide whether to choose the old or new tax regime. Salaried employees or pensioners without business income can change their tax regime at any time prior to filing their ITR every year by simply selecting the relevant option on the ITR-1 or ITR-2 form. With commercial or professional income, the regulations are stricter. Only once in your lifetime may you return ...Read More >
Mumbai, Aug 3 (PTI) The Reserve Bank is likely to hold the key short-term lending rate at 5.5 per cent in its upcoming bi-monthly monetary policy on Wednesday after three back-to-back reductions, notwithstanding the headwinds to near-term economic growth in the wake of elevated US tariff uncertainties and subdued inflation trends, according to experts. However, some experts opined that the central bank may go for another round of rate cuts as challenges to the growth outlook outweigh potential ...Read More >
New Delhi, Jul 2 (PTI) State Bank of India (SBI) has decided to classify the loan account of beleaguered telecom firm Reliance Communications as "fraud" and report the name of its erstwhile director Anil Ambani to the Reserve Bank of India (RBI). The move is expected to be followed by other lenders who have given loans to Reliance Communications Ltd (RCom). Reliance Communications, in a regulatory filing, said it has received a letter dated June 23, 2025, from State Bank of India (SBI) to this ...Read More >
Mumbai, Jul 1 (PTI) The high-value Rs 2000 notes worth Rs 6,099 crore are still in circulation even after two years of the Reserve Bank withdrawing the currency, according to official data released on Tuesday. Rs 2000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation. In a statement, the RBI said the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at ...Read More >
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