-PTI “The Commission feels that there is no match between what RBI Governor and Deputy Governor say" The Central Information Commission (CIC) has issued a show-cause notice to RBI Governor Urjit Patel for “dishonouring” a Supreme Court judgment on disclosure of wilful defaulters’ list. The CIC has also asked the Prime Minister’s Office, the Finance Ministry and the Reserve Bank of India (RBI) to make public the letter of former RBI governor Raghuram...
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Rs 1 billion needed to recalibrate 240,000 ATMs for new Rs 100 notes -Nikhat Hetavkar & Arup Roychoudhury
-Business Standard The difference in dimensions of the old and new Rs 100 notes could pose a serious problem Mumbai/ Delhi: New Rs 100 notes will require a recalibration of 240,000 automated teller machines (ATMs) across the country, and the process will cost the industry about Rs 1 billion and take more than a year, said ATM operators. The Reserve Bank of India (RBI) announced on Thursday it would soon release lavender-coloured Rs...
More »RBI governor Urjit Patel lists all the (other) reasons for PNB fraud -Malvika Joshi
-Livemint.com RBI’s regulatory powers over PSU banks are weaker than those over the private sector banks, says Urjit Patel, putting the onus of tackling bank frauds such as the one at PNB on the finance ministry Mumbai: Reserve Bank of India (RBI) governor Urjit Patel broke his silence on Wednesday on the PNB fraud, putting up a blistering defence for the regulator and sought to put the onus on the finance ministry...
More »'RBI Governor must resign over troubles due to note ban' -Arun Janardhanan
-The Indian Express On the latest justifications being given by the RBI, Franco asked “what was that economics he (Governor Patel) learnt to roll out a financial policy like Demonetisation troubling the entire population?” Chennai: Blaming the Reserve Bank of India Governor Urjit Patel for “misusing” the central bank to carry out demonetisation which “caused trouble to the common man”, D Thomas Franco, general secretary of All India Bank Officers Confederation has...
More »Parliamentary panel to question RBI Governor Urjit Patel on demonetisation today
-The Indian Express The panel members have planned to ask Urjit Patel questions regarding RBI's preparedness for digital transition. They will also question about how much money has come back into the system after the November 8 decision to place the existing currency notes of Rs 1000. Reserve Bank of India (RBI) Governor Urjit Patel will appear before the Parliamentary panel on Wednesday to respond to clarifications demanded by the panel on...
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