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The one-day strike observed by more than 21,000 employees of the Reserve Bank of India (RBI) has disrupted trading in government bonds and other markets. Samir Ghosh, general secretary of the All India Reserve Bank of India Employees Association claimed that the strike was 100% successful with all employees taking leave, except for executive directors, … Read more Strike by RBI staff affects bond trading

Undeterred by the worsening US economy and near-zero returns, some of the central banks, including RBI, are buying US treasury bills in a big lot. Central monetary authorities of China, Russia, Hong Kong, Norway, Ireland and Israel have gradually bought the low-yielding sovereign dollar asset in their portfolio. With the December buy, the total of … Read more RBI bought US Treasury Bills worth $6.9 bn, total holding at $23.1 bn

State-run banking entity, Uco Bank, has launched a compromise scheme to enable defaulting borrowers to settle their debts with an outstanding amount of less than Rs 25,000 in Orissa. Under the scheme, loans which are under the category of non-performing assets (NPAs), can be settled by paying 10 to 50% of the outstanding amount. The … Read more Uco Bank introduces compromise scheme in Orissa

The employees of Reserve Bank of India (RBI) have decided to go on a one-day nation-wide strike on February 20 seeking restoration of updated pension scheme and other issues. The main reason for the strike is an internal circular issued by the bank at the request of the finance ministry to withdraw an updated pension … Read more RBI staff to go on one-day nation-wide strike on Feb 20

India’s banking regulator Reserve Bank of India (RBI) on Thursday announced a series of measures aimed at providing greater support to banks as well as the industry on forex loans. Among others, the measures include extending the forex swap facility to Indian public and private sector banks having overseas operations to March 31, 2010 from … Read more RBI takes measures boost forex credit markets

One of the key anti-cyclic measures that government of India has been working on to halt the pace of slowdown is housing and civil constriction. However, despite a number of steps taken by Reserve Bank of India (RBI) to boost lending in housing sector, and lower rates of interest being offered by banks, credit off-take … Read more Home loans not taking off despite sweeteners