The Reserve Bank on Friday said it has imposed a Rs 4.88 lakh penalty on HDFC Bank for contravention of certain norms relating to foreign investment in India while granting a term loan to its client. The central bank also imposed a penalty of Rs 2.70 lakh on Shriram Finance Limited for non-compliance with certain … Read more
MUMBAI: RBI will conduct a record Rs 2.5-lakh-crore variable rate reverse repo (VRRR) auction on Friday as it seeks to absorb a persistent glut of liquidity in the banking system. This move follows a series of recent VRRR operations that have drained Rs 3 lakh crore, yet the money market surplus remains above Rs 3 … Read more
RBI Governor Sanjay Malhotra on Thursday briefed the Parliamentary Standing Committee on Finance on the state of the Indian economy, assuring lawmakers that the country was performing well despite global headwinds.According to panel Chairman and BJP MP Bhartruhari Mahtab, “He gave us a wide range of information related to the economic situation and the financial … Read more