Jul 03, 2024, at 03:25 pm
Reserve Bank of India has been collaborating bilaterally with various countries to link India’s Fast Payments System (FPS) – the Unified Payments Interface (UPI), with their respective FPSs for cross-border Person to Person (P2P) and Person to Merchant (P2M) payments.
Bandhan Bank starts online collection of direct taxes
Jun 29, 2024, at 04:55 am
Kolkata: Bandhan Bank today announced that it has launched the facility to collect direct taxes online from its customers and non-customers across India.
RBI imposes Rs 29.6 lakh fine on HSBC over non-compliance in card ops
Jun 29, 2024, at 04:10 am
Mumbai: The Reserve Bank of India (RBI) announced it has fined The Hongkong and Shanghai Banking Corporation Limited (HSBC) Rs 29.6 lakh for failing to comply with certain directives regarding card operations.
Jun 26, 2024, at 10:22 pm
India is at the threshold of a major structural shift in its growth trajectory, moving towards 8 per cent GDP growth in a sustained manner, said RBI Governor Shaktikanta Das.
India's January-March current account balance at 0.6% surplus riding on high service exports
Jun 25, 2024, at 02:03 am
Mumbai: India's current account balance recorded a surplus in the January-March quarter, driven largely by higher service exports and private transfer receipts, according to the Reserve Bank of India (RBI).
Jun 22, 2024, at 07:36 pm
Mumbai/IBNS: Billdesk, Cred, PhonePe, and Infibeam Avenues are among the fintech companies that will be impacted by the latest regulation of the Reserve Bank of India (RBI) requiring credit card bill payments to be routed through the central bank's centralised billing network.
Food inflation biggest challenge in disinflationary process: RBI Guv Shaktikanta Das
Jun 19, 2024, at 02:41 am
Mumbai: Despite the central bank's efforts to reduce India's retail inflation to its 4 percent target, the final stages of the disinflationary process are challenging due to persistently high food prices, Reserve Bank of India Governor Shaktikanta Das stated at an event on Tuesday.
RBI says India's forex reserves hit all-time high of $651.5 billion
Jun 10, 2024, at 12:36 am
The Reserve Bank of India recently said India's forex reserves has moved up to touch USD 4.837 billion to touch a new all-time high of USD 651.51 billion for the week ended May 31.
Nifty Realty Index rises 1.55% as RBI keeps repo rate unchanged
Jun 07, 2024, at 07:42 pm
Mumbai/IBNS: The rate-sensitive Nifty Realty Index on Friday surged over 1.55 percent as the Reserve Bank of India (RBI) kept the repo rate and liquidity stance unchanged during the June 2024 monetary policy review.
RBI keeps lending rate unchanged at 6.5%
Jun 07, 2024, at 03:47 pm
New Delhi/IBNS: The Reserve Bank of India (RBI) has kept the key lending rate unchanged at 6.5% in its new monetary policy announced on Friday.
RBI says 97.82 per cent of Rs 2000 currency notes received by govt, Rs.7755 crore still with public
Jun 03, 2024, at 11:59 pm
The Reserve Bank of India on Monday announced the government has received 97.82 per cent of Rs 2000 currency notes that were in circulation as on May 31, 2024.
RBI to permit opening of rupee account outside India: Report
May 31, 2024, at 08:16 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday announced to permit the opening of rupee accounts outside India as part of its strategic action plan to internationalise the domestic currency, reports said.
RBI moves 100 tonnes of gold from UK to its vaults, first time since 1991: Report
May 31, 2024, at 07:07 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) has moved over 100 tonnes of gold from the UK to its vaults in India, reports said.
RBI's higher dividend payments might continue in FY25: SBI report
May 31, 2024, at 05:50 am
Mumbai: The higher dividends payments by the Reserve Bank of India (RBI) could continue in FY25 also, according to State Bank of India research report
RBI imposes business restrictions on Edelweiss Group and ECL Finance Ltd
May 30, 2024, at 03:15 am
Mumbai: The Reserve Bank on Wednesday imposed business restrictions on the lending and asset reconstruction arms of the Edelweiss Group due to concerns over loan evergreening.
RBI introduces PRAVAAH portal, Retail Direct mobile app and FinTech Repository
May 29, 2024, at 04:39 am
Mumbai: The Reserve Bank of India (RBI) introduced three important initiatives on Tuesday: the PRAVAAH portal, the RBI Retail Direct mobile application, and the FinTech Repository, previously announced in April 2023, April 2024, and December 2023, respectively.
RBI imposes Rs. 1 crore penalty on ICICI Bank, fines Yes Bank Rs. 91 lakhs for non-compliance
May 28, 2024, at 09:10 pm
Reserve Bank of India has fined private lenders Yes Bank and ICICI Bank over non-compliance.
Paytm CEO expects near-term financial impact due to disruptions in Q4, hints at AI-driven job cuts
May 23, 2024, at 05:43 pm
New Delhi/IBNS: Hinting at the likelihood of Artificial Intelligence (AI)-driven layoffs in the future, Paytm CEO Vijay Shekhar Sharma, in a letter to shareholders on Wednesday (May 22), said that the fintech company will focus on its core businesses and improve cost efficiencies to create a leaner organization.
RBI approves a dividend of Rs 2.11 lakh cr to Centre, an increase of 141% YoY
May 22, 2024, at 10:43 pm
Mumbai: The Reserve Bank of India on Wednesday approved a dividend of Rs 2.11 lakh crore for the Central government for FY24, a significant increase of around 141 percent compared to FY23.
Alignment with 4% inflation target may occur in latter part of the year: RBI report
May 22, 2024, at 04:32 am
Mumbai: The Reserve Bank of India's (RBI) latest monthly bulletin, released on Thursday, indicates that achieving a sustained alignment of inflation with the 4 percent target may occur in the latter half of the year.
India to again delay caps on UPI payments market share, reports Reuters
May 10, 2024, at 11:38 pm
Mumbai/IBNS: India will again delay caps on market share for a popular digital payments method, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration, Reuters reported quoting its sources.
May 09, 2024, at 08:40 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) has allowed Bank of Baroda (BOB) to onboard customers via its 'BOB World' mobile application, following which shares of the public sector bank surged 3.4 percent to Rs 271 per share on Thursday (May 9).
RBI asks NBFCs to disburse cash loans only up to Rs 20,000: Report
May 09, 2024, at 02:16 am
Mumbai: The Reserve Bank of India (RBI) cautioned non-bank finance companies (NBFC) on Wednesday, advising them against providing cash loans exceeding the permitted threshold of Rs 20,000 ($240), media reported.
PSU Bank shares drop as new RBI norms for infra project financing spoil mood
May 07, 2024, at 02:02 am
Mumbai/IBNS: The shares of state-run lenders of India, including State Bank of India (SBI), Punjab National Bank (PNB), Union Bank of India, Bank of Baroda (BOB), and Maharashtra Bank, tumbled up to 6 percent on Monday after the Reserve Bank of India (RBI) published a draft proposing tighter rules for lending and heightened monitoring for under-construction infrastructure projects, reports said.
JP Morgan upgrades Kotak Mahindra Bank to overweight
May 06, 2024, at 07:24 pm
JP Morgan has upgraded private sector lender Kotak Mahindra Bank from neutral to overweight, media reports said.
RBI permits SPDs to borrow in foreign currency
May 04, 2024, at 05:40 am
Mumbai: The Reserve Bank of India (RBI) on Friday granted standalone primary dealers (SPDs) permission to borrow in foreign currency from their parent companies and authorised entities.
Small Finance Banks can now apply to become universal banks under the on-tap licesning norms: RBI
Apr 27, 2024, at 05:50 am
Mumbai: The Reserve Bank of India (RBI) on Friday said that small finance banks (SFBs) meeting certain criteria can now seek approval from the regulator to transition into universal banks under the on-tap licesning norms.
RBI issues new norms for LSPs to facilitate informed decisions by borrowers
Apr 27, 2024, at 04:45 am
Mumbai: The Reserve Bank of India (RBI) on Friday said that lending service providers (LSPs), operating as representatives of banks should disclose all available loan offers to borrowers to facilitate informed decision-making.
Stock market opens in red, Kotak Mahindra Bank shares plunge 10% on RBI curbs
Apr 25, 2024, at 04:28 pm
Mumbai/IBNS: The Indian benchmark indices opened on a negative note on Thursday (Apr 25), following global peers down as a rout in tech stocks dragged the US benchmark indices down after disappointing forecasts by Facebook's parent Meta.
Credit card spending grows 27% YoY to Rs 18.26 trillion in FY24: RBI
Apr 25, 2024, at 07:36 am
Mumbai: Credit card spending increased by 27% year-on-year to Rs 18.26 trillion in the financial year 2023-24 (FY24), up from around Rs 14 trillion in the previous year, according to the latest data from RBI.