[ad_1] Bank Strike: The Banking union, the United Forum of Bank Unions (UFBU), on Friday, March 21, has decided to call off their two-day India-wide strike after receiving assurances from the Finance Ministry and the Indian Banks’ Association (IBA) about their demands. The Chief Labour Commissioner decided to defer the strike after calling all the…
[ad_1] India’s central bank, the Reserve Bank of India (RBI), superseded the Maharashtra-based New India Co-operative Bank for the upcoming 12 months on Friday, February 14, after flagging concerns over poor governance standards and irregularities in its core lending operations. A former general manager of the bank, Hitesh Pravinchand Mehta, was allegedly involved in siphoning…
[ad_1] MUMBAI (Reuters) – The Reserve Bank of India will conduct a massive $10 billion three-year dollar/rupee swap auction next week to infuse durable rupee liquidity into the banking system, which has been reeling under large cash deficits, the central bank said on Friday. The RBI will conduct the buy/sell swap on February 28, it…
[ad_1] India’s central bank, the Reserve Bank of India (RBI), is set to ramp up the liquidity in the nation’s banking system through the infusion of $16 billion by next week amid the large tax outflows, reported the news agency Reuters. The central bank has doubled the amount of government securities that the nation aims…
