Third Quarter Review of RBI Monetary Policy 2009-10
Feb 1, 2010 RBI
By Dr. D. Subbarao
Governor
This Policy Review statement should be read and understood together with the detailed review in Macroeconomic and Monetary Developments released yesterday by the Reserve Bank. The statement is organised in four sections. Section I provides an overview of global and domestic macroeconomic developments; Section II sets out the outlook and projections for growth, inflation, money and credit aggregates. Section III explains the stance of monetary policy and Section IV specifies the monetary measures.
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Tags: MONETARY POLICY, RBI
Interest rate on home loans may remain unchanged
Jan 28, 2010 RBI
Interest rates may remain soft even if the central bank were to withdraw its accommodating stance and tighten monetary policy, which will be reviewed on Friday. The good news for home loan borrowers is that retail loans are the only form of credit showing some decent growth and bankers are unlikely to jeopardise this demand by raising rates. Corporates, who in any case have not been big borrowers, may also not see an increase in rates as banks have said they are unlikely to increase their benchmark lending rates this fiscal.
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Tags: bank deposits, banking system, basis point, cash reserve ratio, cash reserves, corporates, economic recovery, excess liquidity, inflationary pressures, loan borrowers, MONETARY POLICY, norms, retail loans, REVERSE REPO, surpluses
RBI likely to hike CRR , Repo Rate and Reverse Repo Rate
Jan 26, 2010 RBI
Ahead of the Reserve Bank’s quarterly monetary policy, RBI is likely to signal interest rate hikes to suck out liquidity from the market and check prices from spiraling further. Reserve Bank may also raise the amount banks need to park with the apex bank (CRR) by up to 50 basis points. Reserve Bank could raise the short-term borrowing (reverse repo) rate by 25 basis points. Reserve bank is likely to hike cash reverse ratio by up to 50 basis points.
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Tags: banks, comfort zone, inflationary pressure, interest rate hikes, liquidity, MONETARY POLICY, money, price inflation, RBI, speculations, wholesale, wholesale price
RBI guidelines on trading of Currency Futures in Recognized Stock Exchanges
Jan 20, 2010 RBI
RBI/2009-10/290
A.P. (DIR Series) Circular No. 27 – Dated: January 19, 2010
Guidelines on trading of Currency Futures in Recognized Stock Exchanges
- Attention of Authorized Dealers Category – I (AD Category – I) banks is invited to A.P.(DIR Series) Circular No. 05 dated August 06, 2008, permitting persons resident in India to participate in the currency futures market in India, subject to the directions contained in Currency Futures (Reserve Bank) Directions, 2008 [Notification No. FED.1/ DG (SG)-2008 dated August 6, 2008].
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Tags: act 1999, authorized dealers, constituents, currency futures, currency pairs, currency risk, dg, foreign exchange management, futures contracts, futures market, indian rupee, january 19, japanese yen, management act, MONETARY POLICY, pound sterling, salim, stock exchanges, usd inr
RBI proposed banks to charge uniform home loan rate to old customers but major banks rejected the proposal
Jan 19, 2010 RBI
Driven by angry mortgage borrowers, RBI has once again nudged top banks to charge lower home loan rates to old customers instead of just using the lower interest rates to pull new borrowers. But lenders continued to resist the proposal, citing cost mismatch. The contentious issue cropped up when CEOs of large banks met senior RBI officials on Thursday to suggest possible measures that the central bank could consider for the January 29 monetary policy.
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Tags: ceos, contentious issue, deputy governor, emi, feuds, Home Loan Rates, instalments, loan borrowers, loan contracts, loan term, mismatch, MONETARY POLICY, mortgage borrowers, prime lending rates, raw deal, refrain
Interest rate may go up in the coming months if RBI tightens its monetary policy
Jan 13, 2010 Finance
SBI chairman O P Bhatt on Monday said that interest rates are likely to go up in the coming months if the Reserve Bank of India (RBI) tightens its monetary stance. He has also warned that loan defaults, particularly from the SME segment, may rise over the next two quarters. “Inflation is rising and there are fears that regulatory action may lead to hardening of interest rates,” SBI’s chairman said at the Bancon conference in Mumbai.
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Tags: Interest Rate, MONETARY POLICY, RBI
RBI circular on AIFIs – Provisioning Coverage for Advances
Dec 11, 2009 RBI
RBI/2009-2010/248
DBOD. No. FID. FIC. 6 / 01.02.00/ 2009-10
December 8, 2009
The CEOs of the Select All-India Term-lending and Refinancing Institutions Read the rest of this entry »
(Exim Bank, NABARD, NHB and SIDBI)
Tags: Financial Institutions, MONETARY POLICY, nabard, nhb, refinancing, sidbi
Provisioning Coverage for Advances – Second Quarter Review of Monetary Policy for the Year 2009-10
Dec 3, 2009 RBI
RBI/2009-10/ 241
DBOD.No.BP.BC. 64 /21.04.048/2009- 10, Dated: December 1, 2009
The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks
(Excluding RRBs)
Dear Sir,
Second Quarter Review of Monetary Policy for the Year 2009-10 –Provisioning Coverage for Advances
Please refer to paragraph 159 of the Second Quarter Review of the Monetary Policy for the year 2009-10 issued on October 27, 2009 (copy of the paragraph enclosed).
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Tags: banking system, commercial banks, coverage ratio, financial sector, MONETARY POLICY, non performing assets, prudential
Sorting / Processing of Notes – Installation of Note Sorting Machines
Nov 25, 2009 RBI
Installation of Note Sorting Machines
Sorting / Processing of Notes – Installation of Note Sorting Machines
Please refer to paragraph 176 of the Second Quarter Review of Monetary Policy for the year 2009-10 announced on October 27, 2009 (copy enclosed).
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Tags: banknotes, cash receipts, counterfeit notes, crore, denominations, high level group, MONETARY POLICY, paragraph 176, paramount importance, reserve bank of india, sorting machines, time of entry