India’s balance of payments shows improvement in Q1 FY24

Mumbai (Maharashtra) [India], September 28 (ANI): The Reserve Bank of India (RBI) has released preliminary data on India’s Balance of Payments (BoP) for the first quarter (Q1) of the fiscal year 2023-24, covering the period from April to June. The data reveals significant developments and trends in India’s economic position on the global stage.One of…

Not comfortable with NPAs in urban co-op banks says RBI, asks lenders to focus on governance

Mumbai, RBI Governor Shaktikanta Das on Monday said the central bank is “not comfortable” with the gross non-performing assets ratio of 8.7 per cent in urban cooperative banks (UCBs) and asked them to work towards improving the same. Addressing directors of UCBs in the financial capital at an RBI-organised conference, Das urged that such lenders…

RBI found excessive dominance by 1-2 board members even in big commercial banks: Das

Mumbai, Reserve Bank Governor Shaktikanta Das on Monday said the central bank has noticed “excessive dominance” by one or two board members even in “big commercial banks” and asked the lenders to desist from such practices. Board discussions have to be free, fair and democratic, Das said, addressing directors of Urban Cooperative Banks (UCBs) at…