The BSE Sensex was down 500 points and the Nifty 50 plunged below the 10,400 level ahead of the final assembly election results from five states. Benchmark indices BSE Sensex and NSE’s Nifty 50 slumped 2% in the previous session after exit polls released after market hours on Friday projected the BJP losing power in Rajasthan and facing a tight finish in Madhya Pradesh and Chhattisgarh—
Breaking News – Urjit Patel Resigns as RBI Governor
Reserve Bank of India (RBI) governor Urjit Patel on Monday resigned from the post citing personal reasons. “On account of personal reasons, I have decided to step down from my current position effective immediately.
Gold Silver Reports (GSR) – The central bank’s board on Monday decided that banks would have to meet the capital conservation buffer norms under Basel III regulations by 31 March 2020, instead of the earlier deadline of March 2019.
Ahead of the Reserve Bank of India (RBI) Board meeting today, Congress leader P Chidambaram on Sunday alleged that the central government was determined to “capture” the bank to gain control over its Rs 9 lakh crore reserves.
Gold Silver Reports (GSR)— This prompted FIIs to buy nearly $1.26 billion in domestic debt over the last nine trading sessions (between 24 October and 5 November). So far this year, FIIs have offloaded $7.76 billion in domestic bonds.
The government has issued “several” letters to the Reserve Bank of India initiating consultations under Section 7 of the RBI Act, said a person familiar with the matter. While consultations have been initiated under this provision, no directions have been given, said this person.
Eleven state-run banks under the Reserve Bank of India’s (RBI) prompt corrective action (PCA) framework recorded higher interest income but lower asset quality, a Mint analysis showed, even as differences between the government and central bank over the framework have burst out into the open.