As per the RBI, depositors will not be allowed to withdraw more than Rs 1,000 of the total balance held in every saving or current account or any other deposit account of Padmashri Dr Vitthalrao Vikhe Patil Co-operative Bank.

YES Bank (6.10%), Tata Steel (3.21%) and Vedanta (2.89%) were the top Sensex losers. Of 30 Sensex stocks, 26 closed lower.

While the BSE bankex ended 231.40 points or 0.78% lower at 29,372 level, bank Nifty fell 187 points to 26,113 points. 

The RBI said that it has extended the timeline for banks to set aside an additional 0.625% as capital conservation buffer by one year to March 31, 2020 to help banks to lend more.

RBI has managed to protect the reserves, such as currency and gold revaluation reserves, Contingency Fund, Asset Development Fund and Investment Revaluation Account

RBI, govt signal truce; sends contentious issue of surplus to expert panelSignalling a temporary truce, the Reserve Bank and the government Monday agreed to refer to an expert committee the contentious issue of appropriate size of reserves that the RBI must hold, while restructuring of stressed loans of small businesses would be considered by the central bank. The setting up of the committee, whose members will be decided by the government and the RBI, followed a marathon nine-hour long meeti...

Former Union finance minister P Chidambaram twetted \"Glad that the Government has stepped back and grudgingly acknowledged the independence of the RBI.\"

Increased selling of the US dollar by exporters and banks also improved sentiments for the Indian currency.  The Indian currency opened 18 paise higher at 71.47 level to the dollar compared to its previous close of 71.65.

DBS Banking Group says that knee jerk gains in bonds are likely, before returning to familiar drivers particularly in midst of the sharp overnight sell-off in the US markets

Prime Minister Narendra Modi sets an ambitious target of India breaking into top 50 nations on the World Bank's ease of doing business ranking and said efforts are on to nearly double the size of country's economy to USD 5 trillion.