Financial system News

According to a Morgan Stanley report, the RBI is expected to proactively manage liquidity and take up some additional measures (OMO purchases/FX swaps) as liquidity deficit rises towards end-March.

"R3 (Raghuram Rajan) planted a time bomb in our financial system in 2013. It is timed for December 2016. The redeemable USD 24 billion in f.E. To be paid out by banks," Swamy tweeted.

World financial markets have calmed after turmoil earlier this year, but more needs to be done to ensure global financial stability amid slowing growth, weak commodity prices and worries about China`s economy, the International Monetary Fund warned on Wednesday.

Nearly two billion people globally do not have bank accounts including those in the US, IMF chief Christine Lagarde said Wednesday, ruing that financial systems around the world despite being sizable exclude many individuals from financial services.

Government is committed to bring 21st century financial system to every household in the country and was taking a number of steps in this regard, Lok Sabha was informed on Friday.

With banks in India facing deteriorating asset quality, RBI on Monday said certain corporate practices of using multi-layered structures and pledging of shares to raise funds from banking system need to be examined.