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Reserve Bank of India

Government and Policy

Banks allowed to defer EMIs by 3 months, cut in repo rate, liquidity injection of Rs 3.74 lakh crores: Highlights of the RBI Governor’s...

OpIndia Staff -
The most important notification put out by the RBI on Friday was that a three-month moratorium has been announced on payment of instalments of loans outstanding on March 1, 2020.
News Reports

Enforcement Directorate arrests Yes Bank founder Rana Kapoor over money laundering charges

OpIndia Staff -
The founder of the crisis-hit YES Bank, Rana Kapoor, was arrested by the Enforcement Directorate (ED) on Sunday around 3 am in Mumbai.
News Reports

Phone Pe and Paytm engage in Twitter banter after YES Bank moratorium affects the former

OpIndia Staff -
The Twitter confrontation with PayTM happened after PhonePe was forced to temporarily suspended its services
News Reports

RBI publishes scheme of reconstruction draft for Yes Bank, State Bank of India to pick up 49% stack at ₹10 per share

OpIndia Staff -
After placing Yes Bank under moratorium, RBI has published the draft for scheme of reconstruction for the bank
News Reports

RBI takes over management of Yes Bank and imposes restrictions on withdrawals: All you need to know about the latest crisis in banking sector

OpIndia Staff -
RBI imposes moratorium on Yes Bank for a month, caps withdrawals at ₹50,000 and suspends board
Government and Policy

Tech-giant Google recognises success of India’s UPI, recommends US Federal Reserve to implement similar model

OpIndia Staff -
Tech-giant Google has recommended that the US Federal Reserve implement a real-time payments platform similar to India's UPI.
News Reports

Reserve Bank of India clarifies that it has not sold any gold or trading in it, refutes the ET report categorically

OpIndia Staff -
Tweaking its headline a bit, the ET had falsely reported that RBI has begun to sell some of its gold again despite their own reports suggested that RBI had bought more gold rather than selling from its reserves.
Economy and Finance

RBI relaxes withdrawal limit for PMC Bank account holders from Rs 1,000 to Rs 10,000 per account

OpIndia Staff -
The Reserve Bank of India had earlier enforced regulatory restrictions on the PMC bank limiting its customers from withdrawing not more than Rs 1000.
News Reports

After RBI’s restrictions on PMC bank, customers file police complaint against bank officials

OpIndia Staff -
The Reserve Bank of India on Tuesday imposed restrictions on PMC Bank (Punjab and Maharashtra Cooperative Bank), a Mumbai based urban cooperative bank
Economy and Finance

RBI refutes rumours of closure of 9 commercial banks

OpIndia Staff -
RBI has issued a statement clarifying that the rumours of commercial banks closing down are false
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