from PRESS RELEASES FROM RBI https://ift.tt/2BRcxj9
from PRESS RELEASES FROM RBI https://ift.tt/2tH4gK0
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of the entire undertaking of DBS Bank Ltd., India with DBS Bank India Limited which has been granted licence by the Reserve Bank to carry on the business of banking in India through Wholly Owned Subsidiary (WOS) Mode under section 22(1) of the Banking Regulation Act, 1949. The Scheme has been sanctioned in exercise of the powers contained in sub-section (4) of Section 44A of the Banking Regulation Act, 1949.
The Scheme will come into force with effect from March 01, 2019. All the branches of DBS Bank Ltd. in India will function as branches of DBS Bank India Limited with effect from March 01, 2019.
Press Release : 2018-2019/2064
from PRESS RELEASES FROM RBI https://ift.tt/2H6iJXW
The Reserve Bank of India today placed on its website a Working Paper titled “Inflation Expectations of Households: Do They Influence Wage-Price Dynamics in India?” under the Reserve Bank of India Working Paper Series*. The Paper is authored by Sitikantha Pattanaik, Silu Muduli, and Soumyajit Ray.
This paper examines the usefulness of survey based information on inflation expectations of households in the analysis of inflation dynamics in India. Hybrid versions of New Keynesian Phillips Curve (NKPC) are used to study whether inflation expectations of households work as proxy of forward looking expectations to predict inflation. Both three months ahead and one year ahead inflation expectations emerge statistically significant in explaining and predicting inflation, but they effectively work as substitutes of backward looking expectations given that household expectations are found to be adaptive. When transmission of inflation expectations to inflation is assessed through wage dynamics, no robust evidence is found on expectations induced wage pressures influencing CPI inflation. Short-term food and fuel shocks explain significant part of variations in inflation expectations of households. Notwithstanding limited evidence on spillover of inflation expectations of households to wages and prices, the high degree of observed inflation persistence and significant sensitivity of inflation expectations to food and fuel shocks warrant sustained emphasis of monetary policy on well anchored inflation expectations.
* The Reserve Bank of India introduced the RBI Working Papers series in March 2011. These papers present research in progress of the staff members of the Reserve Bank and are disseminated to elicit comments and further debate. The views expressed in these papers are those of authors and not of the Reserve Bank of India. Comments and observations may kindly be forwarded to authors. Citation and use of such papers should take into account its provisional character.
Press Release : 2018-2019/2065
from PRESS RELEASES FROM RBI https://ift.tt/2VsC49K
from PRESS RELEASES FROM RBI https://ift.tt/2H7eJX4
गुजरात के सूरत में एक शख्स को एटीएम से छेड़छाड़ कर 1.54 लाख रुपये की धोखाधड़ी के आरोप में गिरफ्तार किया गया है। पुलिस गिरफ्तार आरोपी से इस मामले में पूछताछ कर रही है।
from The Navbharattimes https://ift.tt/2GQi2CU
Today, the Reserve Bank released its web publication entitled Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks (SCBs), December 2018 on its Database on Indian Economy (DBIE) portal (web-link: https://dbie.rbi.org.in/DBIE/dbie.rbi?site=publications#!3). Data on deposits, disaggregated by type and total credit are classified by states, districts, centres, population groups and bank groups, are collected from all SCBs, including regional rural banks (RRBs) and small finance banks (SFBs), under the basic statistical return (BSR) – 7 system.
Press Release : 2018-2019/2062
from PRESS RELEASES FROM RBI https://ift.tt/2Xupvwg
Data on sectoral deployment of bank credit collected from select 41 scheduled commercial banks, accounting for about 90 per cent of the total non-food credit deployed by all scheduled commercial banks, for the month of January 2019 are set out in Statements I and II.
Highlights of the sectoral deployment of bank credit are given below:
Press Release : 2018-2019/2063
from PRESS RELEASES FROM RBI https://ift.tt/2H7b8Iy
from PRESS RELEASES FROM RBI https://ift.tt/2T41v4M
The CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions vide directive dated April 30, 2014, from close of business on May 2, 2014. The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive dated November 27, 2018 and was valid upto February 28, 2019 subject to review.
It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive dated April 30, 2014, as modified from time to time, issued to the above bank, the validity of which was last extended upto February 28, 2019 shall continue to apply to the bank for a further period of three months from March 01, 2019 to May 31, 2019, vide Directive dated February 26, 2019 subject to review.
A copy of the directive dated February 26, 2019 notifying the above extension is displayed at the bank’s premises for the perusal of public.
The aforesaid extension and/or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied of substantive improvement in the financial position of the bank.
Press Release : 2018-2019/2059
from PRESS RELEASES FROM RBI https://ift.tt/2EhAa4J
from PRESS RELEASES FROM RBI https://ift.tt/2tJPJ0m
from PRESS RELEASES FROM RBI https://ift.tt/2BT1Qwo