It is clarified that this information is not factually correct," the RBI said in a release. The last notification regarding working hours and bank holidays were issued by the RBI on August 28, 2015. "It has been reported in certain sections of the media that commercial banks would have a 5-day week in terms of RBI instructions. The six-month moratorium on loan repayments also ended on Monday.The central bank will also conduct term repo operations for an aggregate amount of Rs 1,00,000 crore at floating rates (at the prevailing repo rate) in the middle of September to assuage pressures on the market on account of advance tax outflows. Nifty 500 gained 0.67 per cent.

Claim: RBI has approved 5-day work week for banks from 1st June.

Canara Bank, Federal Bank, City Union Bank, PVR, Ujjivan Financial and Spandana Sphoorthy were largest gainers, up 5-9 per cent. Updated: September 1, 2020 9:57:12 am RBI said it will conduct additional special OMO involving simultaneous purchase and sale of government securities for an aggregate amount of Rs 20,000 crore in two tranches of Rs 10,000 crore each. However, Nifty Midcap took its gaining streak to 10th day, up 0.58 per cent. Copyright © 2020 The Indian Express [P] Ltd. All Rights Reserved RBI to hold special OMOs, term repo ops to ‘ensure orderly functioning of financial mkts’

“Thus, the banks may reduce their interest liability by returning funds taken at the repo rate prevailing at that time (5.15 per cent) and availing funds at the current repo rate of 4 per cent,” it said.The RBI has also decided to allow banks to hold fresh acquisitions of SLR securities acquired from September 1, under HTM up to an overall limit of 22 per cent of NDTL up to March 31, 2021.“Only one out of four companies that availed of the moratorium is rated in the investment grade (rated Crisil BBB- or higher). The Reserve Bank of India (RBI) said Saturday it has not issued any direction with regard to a five-day a week working for commercial banks. No 5-day a week in commercial banks: RBI The Reserve Bank of India (RBI) said Saturday it has not issued any direction with regard to a five-day a week working for commercial banks. “The RBI remains committed to conduct further such operations as warranted by market conditions,” it said. The auctions would be conducted on September 10 and September 17. Announcing the new measures on a day when the Sensex tanked 839 points and the Centre announced GDP contraction by 23.9 per cent in Q1, the RBI said it will conduct additional special OMO involving simultaneous purchase and sale of government securities for an aggregate amount of Rs 20,000 crore in two tranches of Rs 10,000 crore each. Banking and financial names dominated the top gainers list in the broader market space. "It has been reported in certain sections of the media that commercial banks would have a 5-day week in terms of RBI instructions. The Reserve Bank of India (RBI) said on Saturday it has not issued any direction with regard to a five-day a week working for commercial banks. Explore more on Reserve Bank of India (RBI) at Dnaindia.com. The Reserve Bank of India (RBI) Monday announced several measures including two more tranches of special open market operations (OMOs) in bonds and a hike in the held-to-maturity (HTM) limit under the statutory liquidity ratio (SLR) for banks, so as to “ensure orderly functioning of financial markets”.Announcing the new measures on a day when the Sensex tanked 839 points and the Centre announced GDP contraction by 23.9 per cent in Q1, the RBI said it will conduct additional special OMO involving simultaneous purchase and sale of government securities for an aggregate amount of Rs 20,000 crore in two tranches of Rs 10,000 crore each. The RBI has not issued any such directions, it said.Currently, branches of commercial banks observe holiday only on second and fourth Saturday of a month apart from Sunday.Remaining Saturdays are a full working hour for banks.Certain sections of the media had falsely reported that commercial banks would have a 5-day week

In order to reduce the cost of funds, banks that had availed of funds under long-term repo operations (LTROs) may exercise an option of reversing these transactions before maturity. The Reserve Bank of India (RBI) said on Saturday it has not issued any direction with regard to a five-day a week working for commercial banks.

(File)


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