Live Updates

  • 1:28 AM IST

    The Reserve Bank of India (RBI) Monday ended its nine-hour long Marathon meeting with some major decisions on cash flow in the open market and Micro Small and Medium Enterprises (MSMEs).

  • 12:44 PM IST

    RBI Board Meeting Live Updates: RBI has surplus reserves of Rs. 3.6 lakh crore, which the government says can be used for development, sources said. RBI argues that these reserves are essential for possible emergencies.



  • 11:45 AM IST

    RBI Board Meeting Live Updates: The appointment of S Gurumurthy, Subhash Chandra Garg and Rajiv Kumar – all nominated by the government on the board- is seen as an attempt to influence RBI.

  • 11:34 AM IST

    RBI Board Meeting Live Updates: While a debate is going on whether the RBI should do more to ease credit to MSMEs, officials said the central bank has provided special training to nearly 11,000 officers at various commercial banks on lending to micro, small and medium enterprises.




    This training has been provided to officers working at nearly 3,000 bank branches covering all districts in India through more than 2,000 special workshops in the last three years.
  • 10:52 AM IST

    RBI Board Meeting Live Updates: “Mr Modi and his coterie of cronies, continue to destroy every institution they can get their hands on. Today, through his puppets at the rbiboardmeet he will attempt to destroy the RBI. I hope Mr Patel and his team have a spine and show him his place,” tweets Rahul Gandhi.

  • 10:38 AM IST

    RBI Board Meeting Live Updates: Government and RBI are looking to reach at an agreeable solution with respect to relaxation of the Prompt Corrective Action (PCA) framework and easing of lending norms for the MSME sector.

  • 10:37 AM IST

    RBI Board Meeting Live Updates: While there have been reports and demands from some quarters for the Governor to step down, sources said Patel is unlikely to yield under pressure and will rather mount a strong defence of the central bank’s policies regarding stringent NPA recognition norms as well as measures taken to ease credit supply to MSMEs.

New Delhi:`The Reserve Bank of India (RBI) Monday ended its nine-hour long Marathon meeting with some major decisions on cash flow in the open market and Micro Small and Medium Enterprises (MSMEs). The meeting had the central bank agreeing to increase the liquidity in the open market, an issue which had triggered a dispute between Urjit Patel-led RBI and the Narendra Modi government. The central bank would now inject Rs 8,000 crore into the market by purchasing government securities on November 22, 2018. “Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the Reserve Bank has decided to conduct purchase of government securities under Open Market Operations for an aggregate amount of Rs 80 billion on November 22, 2018 through multi-security auction using the multiple price method,” the RBI said in a statement on Monday. Also Read - Year-Ender 2019: Country's Political Bigwigs Who Left us in The Year Gone by

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