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This decade will be a decade of high growth rate for India: Chief Economic Adviser

Jul 30, 2021

NEW DELHI, 29 July 2021: Dr KV Subramanian, Chief Economic Adviser (CEA), Ministry of Finance today said that last year India had a V-shaped recovery and looking at last four quarter numbers during pandemic, India is the only country that has registered two consecutive quarters of growth. He also expressed hope that India should be able to hit high…

Results of Underwriting Auctions Conducted on July 30, 2021

Jul 30, 2021

In the underwriting auctions conducted on July 30, 2021 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to…

Mumbai

RBI cancels the licence of The Madgaum Urban Cooperative Bank Ltd., Margao, Goa

Jul 29, 2021

Today, the Reserve Bank of India (RBI) has, vide order dated July 27, 2021 cancelled the licence of The Madgaum Urban Co-operative Bank Limited, Margao, Goa. Consequently, the bank ceases to carry on banking business, with effect from the…

Business

RBI to conduct 14-day Variable Rate Reverse Repo auction under LAF on July 30, 2021

Jul 29, 2021

The Reserve Bank of India will conduct a Variable Rate Reverse Repo auction on July 30, 2021, Friday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 2,00,000 14 10:30 AM to…

National

Science and Technology one of the important tools besides culture, sports that brings communities…

Jul 29, 2021

NEW DELHI, 29 July 2021: SK Varshney, Head-International Cooperation Division, DST, Govt of India yesterday said that science and technology is very important just like culture & sports which brings communities together. "Our programme…

Business

Underwriting Auction for sale of Government Securities for ₹32,000 cr on July 30, 2021

Jul 29, 2021

Government of India has announced the sale (re-issue) of Government Stock detailed below through auctions to be held on July 30, 2021. As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum…

Business

RBI imposes monetary penalty on Axis Bank Limited

Jul 29, 2021

The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5.00 crore (Rupees Five crore only) on Axis Bank Limited (the bank) for contravention of / non-compliance with certain provisions of…

Business

RBI imposes monetary penalty on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar,…

Jul 29, 2021

The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar (the bank) for contravention of the…

Business

RBI imposes monetary penalty on Alibag Co-operative Urban Bank Limited, Raigad, Maharashtra

Jul 29, 2021

The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5 lakh (Rupees Five lakh only) on Alibag Co-operative Urban Bank Limited, Raigad (the bank) for contravention of the directions issued by…

Business

Reserve Bank of India announces Digital Payments Index (RBI-DPI) for March 2021

Jul 29, 2021

The Reserve Bank had earlier announced construction of a composite Reserve Bank of India – Digital Payments Index (RBI-DPI) with March 2018 as base to capture the extent of digitisation of payments across the country. The index for March…

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